Taxes on land and housing in Vietnam are far lower than those in other countries, exposing the need for higher tax rates to improve fiscal revenues. The Ministry of Finance (MoF) has recently approved the scheme for tax reform until 2030. Under the scheme, the first draft law on property will be proposed before the […]
Read MoreHANOI: Consumption, one of the key drivers of Vietnam’s growth in 2022, is showing signs of deceleration in some sectors. But overall, the General Statistics Office’s (GSO) data showed Vietnam’s total retail sales of goods and services in November increased 17.5% year-on-year (y-o-y) to an estimated 514.2 trillion Vietnamese dong (RM92bil) after a 17.1% growth […]
Read MoreTax revenues from e-commerce activities have risen over the years, but they are still far behind the industry’s expansion rate, the Ministry of Finance reported. Tax collections from 2018 to date totaled nearly VND5,590 billion. The figure has increased over the years, with the collection growth rate at 130% from 2018 to 2021. The year […]
Read MoreThe central bank said local banks that meet liquidity requirements and offer low-interest rates for loans are qualified for the new policy, citing more favourable conditions and system-wide improved liquidity. HANOI — The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14 per cent […]
Read MoreChip production will fuel Vietnam’s aspiration to become a prominent manufacturing hub in the region. At the end of August 2022, Synopsys Company (USA) announced that it would train electronic engineers in Vietnam and assist the Ho Chi Minh City Hi-Tech Park to establish a chip design center through a software sponsorship program. This is […]
Read MoreAs many as 218 companies have won the “Prestigious Export Business” title for 2021, according to the list unveiled by the Ministry of Industry and Trade (MoIT) on December 5. The list of the honourees, operating in 27 business lines, is publicised on the MoIT portal (www.moit.gov.vn) and the websites of some relevant agencies. In […]
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