6 months car tax

Finance minister Đinh Tiến Dũng on Tuesday said that the controversial asset tax will not be on the agenda at least until the next National Assembly (NA) semester, or 2021.— VNA/VNS Photo Dương Giang HÀ NỘI — Finance minister Đinh Tiến Dũng on Tuesday said that the controversial asset tax will not be on the agenda at least until the next National Assembly (NA) semester, or 2021. During a group meeting of the NA on socio-economic affairs, Dũng took the chance to explain the ministry’s controversial new asset tax, saying that the ministry had not proposed it but was only carrying out the Party and the Government’s decisions. Dũng said that the asset tax was in fact mentioned previously in Resolution 19 of the 11th Central Committee of Việt Nam’s Communist Party in 2012 and also appeared in the tax reform strategy for 2011-15 signed by Prime Minister Nguyễn Tấn Dũng. More recently, the Politburo in 2016 issued Resolution 07 on the restructuring of the State budget and public … [Read more...] about Controversial asset tax not yet on Gov’t agenda

Tax collections from online content creators remain challenging The Saigon Times Daily A person watches videos on YouTube. A rising number of Vietnamese people have earned money from YouTube and other social networking sites but many of them have not declared their income tax – PHOTO: PHAM LE HCMC – An increasing number of Vietnamese YouTubers, such as the short-lived ‘idol’ Ngo Ba Kha alias Kha Banh, earn large amounts of money from the social network but some YouTubers might be trying to evade their personal income tax. A draft proposal of the revised Law on Tax Management, which was made available in 2018, requires the State Bank of Vietnam and the Ministry of Finance to work together to manage taxes. The central bank needs to set up a mechanism to manage and oversee online payment transactions. The move is meant to assist State management in reporting cross-border services in the e-commerce sector. Meanwhile, commercial banks are asked to provide account … [Read more...] about Tax collections from online content creators remain challenging

Local carmakers allowed to delay excise tax payments The Saigon Times Used cars for sale in Long An Province – PHOTO: THANH HOA HCMC – The Government has issued a decree allowing local carmakers and assemblers to delay payments of excise tax for the March-October period to help them overcome the difficulties caused by the Covid-19 pandemic. For excise tax from March to June, payments can be postponed for five months. The payment deadline for excise tax in March, April, May and June will be September 20, October 20, November 20 and December 20. The payment deadline for excise tax from July to October will be December 20. Local carmakers and assemblers’ branches that do not produce or assemble cars are not eligible for the policy. The Ministry of Finance estimated that the late excise tax payments will cause a monthly loss of VND2.2 trillion to the State budget. However, the State budget for the entire year will not be affected. The Government had earlier issued … [Read more...] about Local carmakers allowed to delay excise tax payments

Vietnam posts trade deficit of US$1 billion in mid-Jan The Saigon Times Daily Key exports such as textiles and garments earn revenues of over US$1 billion each. Vietnam posts trade deficit of US$1 billion in mid-January largely due to the declining exports of foreign-invested firms – PHOTO: VNA HCMC – In the first half of this month, Vietnam imported goods worth US$10.2 billion, while its export revenue totaled some US$9.2 billion. Therefore, the country had a trade deficit of US$1 billion, according to the General Department of Vietnam Customs. A representative of the export tax division under the HCMC Customs Department told Thanh Nien newspaper that Vietnam saw a rapidly increasing number of imported cars in the 15-day period, resulting in a major differential in the trade balance. The country imported a total of over 6,300 cars, worth roughly US$158 million. Further, two other groups of commodities, which also had the highest import revenues were computers, … [Read more...] about Vietnam posts trade deficit of US$1 billion in mid-Jan

Voters voice opinions to NA deputies (05-05-2005) Voters meet with candidates for the Ba Be District People’s Council in Bac Kan Province during the 2004-09 term. — VNA/ VNS Photo HCM CITY — Voters across the country have begun voicing their opinions to National Assembly deputies as lawmakers prepare for legislative meetings. Measures against corruption, wage reform, health insurance and low-income housing programmes are the main concerns of HCM City voters, according to a National Assembly delegation. Before the opening of the seventh meeting of the eleventh session of the National Assembly today, the HCM City NA delegates talked to voters in 24 city districts to determine their primary concerns. The voters interviewed late last month suggested that in order to prevent corruption, the NA should refine the regulations requiring leading State officials to publicly declare their assets. Voters in District 12 and Hoc Mon and Cu Chi districts said … [Read more...] about Voters voice opinions to NA deputies

CBU automobile imports hit record high The Saigon Times Daily Models pose next to a car on display at an auto show in HCMC. The country imported 75,430 completely-built-up (CBU) cars worth US$1.7 billion in the first six months of the year - PHOTO: QUOC HUNG HCMC – The country imported up to 75,430 completely-built-up (CBU) cars of all types worth US$1.7 billion in the first half of the year, up 511.5% in volume and 411.2% in value year-on-year, the record highs for CBU automobile imports over the past few years, the local media reported. Speaking at a meeting on August 7, Phan Van Chinh, head of the Import and Export Department at the Ministry of Industry and Trade, said the figure for automobile imports was nearly equivalent to that seen in 2018. Vietnam’s automobile imports averaged 12,570 units per month during the six-month period, equal to all imports in the last five months of 2018. Chinh attributed the upsurge in CBU car imports to excise tax cuts for … [Read more...] about CBU automobile imports hit record high

Only the Thais should be jubilant By Nguyen Duy Nghia A Thai trade fair in HCMC – PHOTO: THANH HOA At a press conference held in Hanoi to disseminate information on Thai Festival 2019, the Thai ambassador to Vietnam expressed optimism about the possible achievement of the goal of Vietnam-Thailand bilateral trade hitting US$20 billion by 2020. This target was set at the third meeting of the Vietnam-Thailand Joint Committee on Trade in August 2018, which also aims to even out the trade balance between the two nations. Given what has happened to bilateral trade to date, only the Thai side should be happy with this. In 2015-2017, the two-way trade between Vietnam and Thailand grew 15.5% per year on average. In 2018, it amounted to US$17.673 billion, a rise of 13.6% from the preceding year. The figure for the first six months of 2019 was US$8.809 billion, up 9.3% year-on-year. While Thailand is Vietnam’s largest trading partner in ASEAN, Vietnam is Thailand’s second after … [Read more...] about Only the Thais should be jubilant

Ministry: Gasoline price review period may be shortened The Saigon Times An employee of a gas station refills a car. The Ministry of Industry and Trade is collecting suggestions for a draft law on gasoline trading, suggesting that the period between two fuel base price reviews should be shortened - PHOTO: VNA HCMC – The Ministry of Industry and Trade is collecting suggestions for a draft law on gasoline trading, suggesting that the period between two fuel base price reviews should be shortened given the current turbulences in the world market, and has proposed two scenarios for the calculation of the base price. According to Nguoi Lao Dong Online, the first scenario stipulates that oil and gas prices should be reviewed on the 1st, 11th and 21st day every month. If the day is a holiday, the revision will be deferred to the following working day. In case of an abnormal rise compared to the previous review that may result in a significant impact on the economy, such … [Read more...] about Ministry: Gasoline price review period may be shortened

A video clip posted on Facebook shows a female driver physically assaulting a traffic police officer. The number of violent incidents against officers is on the rise. — Photo plo.vn Viet Nam News HÀ NỘI — In a video clip that immediately sparked public outrage after being posted on Facebook late on Monday, a young woman was seen yelling, cursing and trying to physically attack a traffic police officer in the middle of a heavily-congested street in HCM City. The clip showed the woman demanding that the officer apologise to her, saying that she was paying a tax to “feed” him. Before the violent scene, the woman, later named as a temporary resident of Thủ Đức District, was found driving in the wrong lane. While trying to stop the car, the police officer unintentionally struck his club against the car door, which apparently provoked the aggressive driver. On June 30, another traffic police officer in central Hà Tĩnh Province was seriously injured after being knocked … [Read more...] about Traffic cops face increasing violence

Island tour is a special product of Phú Quốc. — VNS Photo Trương Vị Viet Nam News by Hoàng Nguyên KIÊN GIANG – Phú Quốc Island has become one of the hottest holiday spots in the country in recent years as the local and central governments have gone ahead with ambitious plans to develop it into an international hub for eco-tourism, resort tourism and amusement and a regional financial centre. Phú Quốc, dubbed pearl island, is the biggest island in the country at around 600 square kilometres. With white sandy beaches and balmy weather almost all year round — since two-thirds of the island is covered in forests — Phú Quốc is a holiday-goers’ paradise. “What attracts tourists the most are the island’s wild beaches, its warm weather which allows tourists to bathe in the sea almost all year round, and its diverse landscapes from mountain to forest and sea,” Huỳnh Quang Hưng, deputy chairman of the Phú Quốc District People’s Committee, said. Night markets in Phú Quốc … [Read more...] about Phú Quốc Island becoming international tourism magnet