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VAT drop can have “dual effect” to stimulate Vietnam’s economic growth and curb inflation

According to several economic experts, this tax reduction is anticipated to help reduce service costs, thereby stimulating consumption, promoting production and business, whilst also creating additional jobs for workers. To control the CPI growth rate at approximately 4% in 2022 according to the target set by the National Assembly the price management should continue to […]

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Vietnam: Firms failing to reduce VAT to face sanctions

Enterprises which deliberately delay the reduction of the value added tax (VAT) from 10% to 8% will face heavy sanctions, according to the General Department of Taxation. The general department has sent a dispatch to localities urging the application of the VAT reduction as required by the National Assembly and the Government. At present, many […]

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Vietnam in global top 10 for cryptocurrency ownership rate

The Covid-19 pandemic has attracted capital from Vietnamese investors in cryptocurrencies. About 6 million Vietnamese own digital assets. In an interview with Techinasia, investor Nam Nguyen, 25, said he invested $3,000 in the cryptocurrency market during the boom in March 2021. The profit he earned was used to maintain his restaurant after the social distancing […]

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Vietnam’s Tourism ministry seeks resumption of pre-pandemic visa waiver policy for tourists, Cambodians eligible for 30 days stay

The Ministry of Culture, Sports, and Tourism has proposed the Government resumes pre-pandemic waivers of visas for tourists from 24 countries when the country restarts international tourism. The ministry earlier proposed March 31, 2022, to be the beginning of the total reopening of international tourism in Vietnam, as the country expects to finish its COVID-19 […]

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