The government has deferred by up to two years business income tax payment for very small, small, and medium enterprises as part of efforts to ease difficulties in doing business. Taxes due in the first two quarters can be paid respectively by April 30 and July 30 next year. Those due for the last two [...]
The Ministry of Finance has gone on a road trip to show the country just how serious it is about fairness when it comes to business tax. Nearly 100 enterprises across Vietnam will receive visits from tax inspection teams after deputy minister of Finance (MoF) Do Hoang Anh Tuan gave the plans the go ahead [...]
Experts have urged the government to make plans to reduce and exempt taxes become realistic, saying that this will be a good solution to ease the difficulties for businesses and encourage production. Resolution No 11 on solutions to curb inflation and stabilize the macro economy mentions the possibility of reducing or exempting taxes and delaying [...]
The Government has approved a General Department of Taxation proposal to extend the declaration of value added tax (VAT) for small- and medium-sized enterprises (SMEs) and family-run businesses. Under the Resolution 68/NQ-CP recently released , SMEs will only have to declare VAT every quarter starting January and family-run businesses every six months. Previously, companies had [...]
The Ministry of Finance has once again urged the Taxa-tion Bureau to regulate the transfer pricing mechanism used by foreign invested enterprises (FIEs) to declare losses to evade taxes in Viet Nam. This will be one of the main focuses of the tax regime this year, according to the ministry. The ministry wants provincial tax [...]
Plugging tax losses is imperative to decrease state budget losses in 2011. General Department of Taxation (GDT) deputy general director Bui Van Nam said the GDT in 2011 would step up estimating the state budget, including methods to prevent smuggling, illegal businesses and tax evasion. According to a GDT report last week, through October 2010, [...]
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