VAFIE helps Hai Phong-based firms get updates on tax policies

The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) and Hai Phong's Tax Department co-organized a seminar titled “Updates on Tax Policies and International Financial Reporting Standards (IFRS)” on Friday in the northern port city.

The event, supported by SeABank and the Association of Chartered Certified Accountants (ACCA), attracted over 200 domestic and foreign businesses.

This is the second time VAFIE, the parent entity of The Investor, has partnered with Hai Phong’s tax authorities to provide updates on tax and customs policies.

Speaking at the seminar, Dr. Nguyen Anh Tuan, chairman of VAFIE, noted that tax policies remain a top concern for both FDI and local enterprises, especially as significant changes are taking place in 2025, directly impacting business operations.

“Timely updates on tax policies and IFRS will help businesses better manage final settlements, ensure transparency, and meet international integration requirements,” he said.

Dr. Tuan added that VAFIE had directly supported dozens of member companies in resolving tax and customs issues this year.

"The association will always stand by the business community, contributing to a more transparent, investor-friendly environment," he added.

Speaking at the event, Mai Chien Thang, deputy director of the Hai Phong Tax Department, stated that the tax sector is accelerating administrative reforms and digital transformation, with a taxpayer-centric approach.

Hai Phong is a key contributor to the national budget, with projected revenue of over VND340 trillion ($12.88 billion) during 2021-2025 and an average annual growth rate exceeding 10%. This, according to city leaders, lays the foundation for sustainable and moden economic development.

Representing SeABank, Tong Hoang Quang, director of northern region business development and corporate clients, stressed the importance of such events in fostering dialogue and mutual understanding between banks and businesses.

SeABank is currently focusing on core services for enterprises, especially FDI and import-export firms, including working capital support, trade finance, credit guarantee, digital banking, international payment, and specialized SeABiz Ultra Cash corporate cards to optimize costs and enhance competitiveness.

The seminar provided a valuable platform for open discussion between businesses, tax authorities, and leading tax experts. It also offered insights into global financial reporting standards and practical solutions for policy implementation challenges.

The VAFIE chairman reaffirmed their commitment to supporting enterprises in navigating regulatory changes, improving governance transparency, and contributing to Vietnam’s goal of becoming an upper-middle-income country by 2030 and a high-income nation by 2045.