It isn’t the neediest businesses or individuals but profitable businesses and wealthy individuals that would most benefit from the government’s tax break proposal, said Nguyen Ngoc Bao, a member of the National Assembly’s Economic Committee. He said the 30 percent corporate tax reduction for instance would mostly benefit businesses that make enough profits to pay [...]
The Vietnamese government’s proposal to cut a variety of taxes raised questions at the National Assembly on the effectiveness of the measures in boosting the economy. The government is suggesting tax reduction and exemption measures worth 4.2 trillion dong ($204 million) in 2011 and 2.2 trillion dong in 2012, Finance Minister Vu Van Ninh told [...]
The Ministry of Finance has drafted a tax break proposal which includes a range of corporate and personal income tax exemptions and deductions. The tax break proposal targets creating incentives for enterprises to develop their business and provide financial support to their employees. If approved, the draft would extend the 2011 tax payment by one [...]
The Prime Minister has released a decision allowing small and medium enterprises (SMEs) to delay the 2011 corporate income tax payment by one year. However, what SMEs need now is not the right to delay the tax payment. Businesses keep indifferent to tax payment preferences Thoi bao Kinh te Saigon has quoted businesses as saying [...]
Vietnamese Government has approved a 10-year tax reform for 2011-20 that seeks to encourage market economy and increase local enterprises’ competitiveness. According to Government Decision No 732/QD-TTg issued on May 20, the tax reform strategy for the next 10 years will ensure transparency and encourage exports and investment, especially in high-technology in remote and rural [...]
The evaluation and definition of a “marker” to tax personal income is purely based on fixed pay while taxing real income earners remains uncontrollable. The Ministry of Finance (MoF) has proposed to the Government a tax exemption scheme for income earners of up to VND5 million/month. Accordingly, only income earners of up to VND5 million/month [...]
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