Public companies to disclose information in English from 2025
Public companies will have to disclose information in English, starting 2025, according to a draft circular issued by the Ministry of Finance in line with a request from the State Securities Commission (SSC) of Vietnam.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam finance ministry mulls incentives to offset global minimum tax
Vietnam’s Ministry of Finance is studying incentives to ensure the country remains attractive to foreign-invested enterprises (FIEs) as it prepares to implement the global minimum tax (GMT), said a senior ministry official.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam collects $7 bln in taxes from Korean firms over past 5 years
Contributions to Vietnam’s state budget by South Korean companies have continually increased over the past five years, totaling some VND175 trillion ($7.1 billion), despite challenges from the Covid-19 pandemic and adverse global economic impacts, according to the finance ministry.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Samsung Vietnam targets 10% export revenue growth with AI-powered phones
Samsung Vietnam is targeting a 10% growth in export revenues this year, with its new product - artificial intelligence (AI)-powered phones - positively welcomed in the world, says CEO Choi Joo Ho.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam corporate bond market size may rise 150% to hit $100 bln: minister
Vietnam's total outstanding corporate bonds issued via private placements may reach VND2,500 trillion (roughly $102 billion), or 25% of the country’s GDP, considerably up from the current 10% of GDP, said Minister of Finance Ho Duc Phoc.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
No state intervention for preferential credit to SOEs: Vietnam finance ministry
The Vietnamese government does not interfere with the banking system to provide preferential loans to state-owned enterprises (SOEs), the Ministry of Finance has clarified.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Quang Ninh vice chairman appointed deputy finance minister
Bui Van Khang, Vice Chairman of Vietnam’s northern province of Quang Ninh, has been assigned to be Deputy Minister of Finance, according to a prime ministerial decision announced Monday.
Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam eyes 23 loans worth $4 bln from ADB for 2024-2026
The Ministry of Finance has urged the Asian Development Bank (ADB) to continue its cooperation with Vietnamese authorities to boost the process of loan signings, as the lender’s 2024-2026 portfolio features 23 projects in Vietnam worth $4 billion.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to tap global minimum tax revenues for fund to support priority sector investors
The Ministry of Planning and Investment is gathering comments on a draft decree to establish a fund that will use part of Global Minimum Tax (GMT) revenues to support investors in priority sectors.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vehicles not subject to environmental protection fees: ministry
All means of transportation, including motorbikes, will not be affected by the decree on environmental protection fees currently being drafted, the Ministry of Finance has clarified.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam finance ministry drafts decree on environmental protection fees for emissions
Vietnam’s Ministry of Finance is drafting a decree on environmental protection fees for emissions towards achieving sustainable growth, improving environment quality and people’s health as well as reducing polluting projects.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam looks for year-long extension to environmental protection tax break
The Vietnamese government has sought parliamentary approval for a plan to extend the environmental protection tax cut on fuels through the end of next year, in a move to aid economic activity and help tame inflation.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Identify sustainable solutions to boost bond, realty markets: Vietnam PM
Vietnam's finance ministry, the central bank and other agencies have been tasked with identifying fresh solutions to prevent unexpected negative impacts and boost the bond and realty markets.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry rejects lower tax proposals by Ford, Toyota
Vietnam’s Ministry of Finance has disagreed with proposals made by Ford, Toyota, and the Vietnam Automobile Manufacturers' Association (VAMA) for lower taxes, according to a ministerial draft document sent for the government’s approval.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry rejects Long Son Petrochemical proposal for higher import taxes
The Ministry of Finance has disagreed with a proposal by Long Son Petrochemicals (LSP), the investor of the $5.4-billion Long Son Petrochemicals Complex, to raise the most-favored nation (MFN) tax on some plastics products from 0% to 3%.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam aims for stock market status upgrade by 2025: minister
The Vietnamese government is striving to have the country's stock market status upgraded to an emerging market by 2025 to lure more foreign investment, Minister of Finance Ho Duc Phoc has said.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
70 Vietnam firms issue bonds worth $7.36 bln in 10 months
Seventy companies in Vietnam raised a combined VND180.4 trillion ($7.36 billion) this year through October by issuing bonds, down 45% year-on-year, according to Finance Ministry data.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to raise personal income tax deductibles: Finance Minister
The Ministry of Finance is drafting rules to increase the deductible amount for personal income tax (PIT) to better reflect inflation, Finance Minister Ho Duc Phoc said Thursday.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Apply 2% VAT cut to all goods, services: Vietnam commerce chamber
The Vietnam Chamber of Commerce and Industry (VCCI) has proposed the Ministry of Finance cut the value added tax (VAT) by two percentage points for all goods and services amid prolonged economic stagnation.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam targets credit rating upgrades in 2030: Finance Minister
Finance Minister Ho Duc Phoc has asked Standard & Poor's Global Ratings (S&P) and Moody's to help Vietnam further improve its credit rating by sharing experiences and relevant advice.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
No subsidy for rich electric car buyers: finance ministry
Vietnam’s Ministry of Finance has said a firm no to a Transport Ministry proposal that $1,000 be given in aid for each electric vehicle (EV) purchase.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam to approve global minimum tax policy in October: prime minister
The Vietnamese government will submit global minimum tax (GMT) resolutions to the National Assembly, the country's highest legislative body, for approval in October.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Treasury Secretary Yellen to visit Vietnam to strengthen ties
U.S. Treasury Secretary Janet Yellen is paying a visit to Vietnam next week to enhance bilateral relations.
Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7
Belgian tech solutions provider seeks hydrogen project partner in Vietnam
John Cockerill, a Belgium-based provider of large-scale tech solutions, has asked Vietnam’s Ministry of Finance to help find partners to build a hydrogen factory in Vietnam.
Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Prudential, MB Ageas, Sun Life, BIDV Metlife guilty of bancassurance violations
Life insurers Prudential, MB Ageas, Sun Life, and BIDV Metlife have been found guilty of bancassurance violations and will have to pay administrative fines to fix their wrongdoings, the Ministry of Finance said on Friday.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry to release life insurer inspection results
Vietnam’s Ministry of Finance has concluded its inspections into four life insurers and will publicize the results later this month, the ministry said at a regular press conference on Friday.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Government proposes National Assembly cut VAT to 8% in May
The government has proposed the National Assembly issue a resolution to reduce value added tax (VAT) from 10% to 8% to support people and businesses.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry tightens supervision over life insurers
The Insurance Supervisory Authority has requested life insurance companies to ensure the information in their product introduction documents complies with the law.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam aims to implement Global Minimum Tax from 2024
Vietnam plans to enforce the Global Minimum Tax (GMT) from January 1, 2024, the General Department of Taxation (GDT) told a conference on Tuesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Government agrees to cut VAT to 8%
The government has assigned the Ministry of Finance to prepare a proposal seeking the National Assembly's approval to reduce VAT from 10% to 8%.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry required to assess Global Minimum Tax impacts
Vietnam’s Deputy Prime Minister Le Minh Khai has requested the Ministry of Finance to thoroughly assess the adverse impacts of the Global Minimum Tax (GMT) in order to provide appropriate solutions.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam PM asks developers for reasonable housing prices
Prime Minister Pham Minh Chinh has required realty developers to adjust their product structures and offer more reasonable prices to the public, as well as to invest more in the development of social housing and houses for workers with prices suited to people's income.
Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Long Son Petrochemicals urges ministries to finalize tax preferences
Long Son Petrochemicals Company Limited (LSP) has urged two ministries to aid the Long Son Petrochemicals Complex by finalizing the tax preferences, particularly for material imports, to avoid delays to the project.
Investing - Mon, Dec 22, 2021 | 11:30 am GMT+7
Finance ministry proposes special consumption tax on sugary drinks
Vietnam’s Ministry of Finance has again proposed levying special consumption tax on sugary drinks after similar suggestions in 2014 and 2017 were rejected, according to a draft amended Excise Tax Law.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Authorities clamp down on insurance fraud
The State Bank of Vietnam (SBV) and the Ministry of Finance have said they will deal with credit credit institutions that conned customers into buying insurance rather than simply taking out loans.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
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