VAFIE, Hung Yen province authority accompany taxpayers

The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and Hung Yen province's tax authority on Tuesday held a workshop on corporate tax policy updates and key notes on 2025 corporate income tax filings.

The event reflects VAFIE and local officials' efforts to accompany taxpayers towards nurturing revenue sources in a practical and sustainable manner and listen to the difficulties of enterprises in implementing tax laws.

VAFIE chairman Dr. Nguyen Anh Tuan noted that Vietnam has recently implemented several major legal changes, including new laws on value-added tax and corporate income tax and guiding decrees on the global minimum tax (GMT).

The GMT, applied to multinational groups with consolidated revenue of $750 million or more, would affect both foreign-owned firms and Vietnamese companies joining global supply chains. "Therefore, timely updating, correct understanding, and correct implementation are urgent requirements to improve business compliance."

Tuan highlighted Hung Yen’s growing appeal as an industrial hub in northern Vietnam, after its merger with Thai Binh province in July.

With a favorable geographical location, close to Hanoi, large land fund, abundant labor resources, and clear development orientation, Hung Yen is strongly transforming in attracting both foreign and domestic investment.

As of September, the northern province had attracted nearly $42 billion in cumulative registered FDI capital across 3,947 projects. In the first nine months of 2025, it drew over $7 billion in registered capital for new projects, ranking sixth nationwide.

Hung Yen’s industrialization is among the fastest in the country, supported by expanded industrial parks, upgraded transport infrastructure, and ongoing administrative reforms in taxation, customs, and business registration. These are conditions for achieving double-digit growth in the coming years.

"In the above context, the workshop with the theme "Updating corporate tax policies and key notes on corporate income tax settlement 2025" was organized with the aim of helping businesses promptly grasp new tax regulations, ensuring more convenient tax declaration and settlement.

"It creates a forum for businesses, management agencies, and tax-accounting experts to exchange experiences, answer questions of businesses related to implementing tax policies, thereby promoting business activities in the area," Tuan emphasized.

At the event, SeABank’s northern region corporate banking director Tong Hoang Quang said the workshop was an opportunity for lenders to better understand corporate needs. He noted that the bank is focusing on providing key services for FDI and export-import companies, including working capital financing, trade finance, credit guarantees, and digital banking solutions.

According to Quang, the SeABiz Ultra Cash corporate card product optimizes operating costs, along with specialized incentive policies to help improve competitiveness. It is a comprehensive financial solution combo exclusively for FDI enterprises with flexible policies on fees and credit incentives.

Hung Yen tax officials emphasized their commitment to improving taxpayer engagement. Deputy director Phan Hong Viet said the workshop enabled authorities to hear challenges faced by businesses and help them adapt to new tax regulations.

With the spirit of companionship, cooperation, and responsibility, Hung Yen's tax authority will continue to closely coordinate with VAFIE and the business community and increase open and frank exchanges, in order to find the most practical solutions to remove difficulties and make the province's investment environment more open, friendly, and efficient.

On the sidelines, Hung Yen Tax Department director Nguyen Duc Son said the agency aims to “nurture sustainable revenue sources” through transparent guidance and reduced compliance burdens.

The department has increased policy disclosure, expanded online support channels, and sought to ensure inspections are conducted without causing unnecessary difficulties for businesses, he said.

Son added that favorable tax policies, especially for industrial projects, have helped Hung Yen attract major investors and build a stronger economic foundation.