Ifrs 15 recognition of revenue

Int’l tourists contribute larger proportion to tourism revenue By Dao Loan International tourists cross a street in downtown HCMC. The international tourism segment reportedly contributed a larger proportion to the tourism sector’s revenue – PHOTO: DAO LOAN HCMC – The international tourism segment, despite seeing less growth in tourists than the domestic segment, reportedly contributed a larger proportion to the tourism sector’s total revenue, according to the Vietnam National Administration of Tourism. Last year, the nation welcomed 15.5 million international tourists and served 80 million domestic visitors, according to the latest statistics of the administration. The statistics also show that the country’s tourism sector made VND637 trillion in revenue in 2018, up 17.7% against 2017. Of the figure, international tourists contributed 61.1% of the total tourism revenue, amounting to VND383 trillion, whereas the revenue from the domestic tourist segment made up … [Read more...] about Int’l tourists contribute larger proportion to tourism revenue

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. The first fiscal of 2021 marks the first time in nine quarters that Apple's Services segment increased revenue by more than 20 percent. Apple Music In Apple's quarterly earnings announcement on Jan. 27, the company announced Services revenue of $15.8 billion for the final three months of 2020, representing a 24% increase over the same period in 2019. "The steep integration of hardware, software and Services have always defined our approach here, and it has delivered an all-time quarterly Services record," Apple CEO Tim Cook said on the earnings call. "This was the first quarter of the Apple One bundle, which brings together many of our great Services into an easy subscription, and with new content being added to these services every day, we feel very optimistic … [Read more...] about Apple raked in record $15.8B in services revenue during Q1

2019 retail revenues soar by 11.5% from Jan to Aug The Saigon Times Daily Consumers select grapefruit at a Co.opmart supermarket. Vietnam’s retail revenues soared by 11.5% year-on-year between January and August. – PHOTO: HUNG LE HCMC - Retail revenues in Vietnam rose by 11.5% from January to August, compared with the same period in 2018. Retail revenues, which include the sale of goods and services, reached VND3.2 quadrillion (US$137.8 billion) during the eight-month period, according to the General Statistics Office. Officials noted, however, that while the growth rate was lower than in the same period in 2018, it was also higher than the annual growth rate from 2015 to 2017. During the 2019 eight-month period, sales of cultural and educational goods, food and foodstuffs, garments, vehicles, home appliances and transport increased by 8.5%-13.6% against the year-ago period. The cities that registered strong retail sales growth included Quang Ninh (19.5%), … [Read more...] about 2019 retail revenues soar by 11.5% from Jan to Aug

Mỹ Đình new urban area in the Từ Liêm District, Hà Nội. — VNA/VNS Photo Huy Hùng Viet Nam News HÀ NỘI — Hà Nội city officials announced on September 28 that the total city revenue this year is projected to exceed the targeted revenue by 1.04 per cent and increase by 15.8 per cent over last year’s figure. The figures were announced at a conference the Hà Nội People’s Committee held on September 28 to review city finances for the first nine months of this year and make decisions to manage the city’s budget in the remaining months of the year. The city’s revenue for the first nine months of the year reached VNĐ146.4 trillion (US$6.5 billion) , meeting 71.5 per cent of the year’s targeted revenue, according to report of the city’s Department of Planning and Investment. It is estimated that the total city revenue for the entire year will reach over VNĐ207.6 trillion ($9.2 billion). Nguyễn Mạnh Quyền, the department’s director, also emphasised that the city’s investment … [Read more...] about Hà Nội announces 2017 revenue on track

VAFI proposes ways to hike State budget revenue The Saigon Times Daily An employee works at a foreign-invested enterprise in Vietnam – PHOTO: HUNG LE HCMC - The State budget revenue may reach US$100 billion in the next 15 years if the Government takes drastic measures to reform State-run enterprises and create a level playing field for foreign enterprises, according to the Vietnam Association of Financial Investors (VAFI). VAFI has sent its suggestions to the prime minister on the draft law amending and supplementing several articles of the 2014 Investment and Enterprise laws. According to the association, the draft law does not feature specific goals to boost economic development or to benefit the business community. It is needed to redefine the term “State-owned enterprise”. A firm is considered State-owned if it has State capital and specializes in sectors mandated by the State. Members of the board of directors and supervisory boards of State-owned … [Read more...] about VAFI proposes ways to hike State budget revenue

GoBear to improve financial inclusion for the Vietnamese people GoBear Vietnam has joined hands with FE CREDIT to drive greater financial inclusion for the people A renewed partnership agreement was signed in HCMC on March 4 by GoBear Vietnam and FE Creditto drive greater financial inclusion to Vietnam’s market. This partnership is one of the key projects for GoBear Vietnam this year, aligned with their growth strategy. In this partnership, GoBear Vietnam will synergize with FE Credit’s award-winning end-to-end digital lending mobile app $NAP, which offers loans to consumers with the ability to get real time loan pre-approval within 15 minutes. The new GoBear powered by FE Creditapp will further streamline GoBear Vietnam’s user journey and provide millions of unbanked Vietnamese people better access to unsecured loans. This app employs new technologies including Facial Recognition, AI algorithms, Optical Character Recognition (OCR) and Intelligent Character … [Read more...] about GoBear to improve financial inclusion for the Vietnamese people

A family of endangered red-shanked douc langurs (Pygathryx nemaeus) at the Sơn Trà Nature Reserve in Đà Nẵng. National parks and nature reserves have been urged to develop eco-tourism in the central and central highlands regions. — Photo courtesy GreenViet Viet Nam News ĐÀ NẴNG  — "Việt Nam’s nature reserves and national parks are aiming to boost eco-tourism to facilitate both conservation and economic growth, but their efforts have been hampered by a lack of planning, human resources and funds," said Lê Văn Lanh of the National Association for Nature Reserves in Việt Nam. Lanh, speaking at a conference in Đà Nẵng on biodiversity conservation and sustainable development in the central and central highlands regions last weekend, said just 61 out of the country’s 167 nature reserves had developed eco-tourism services in line with sustainable development goals. Slow planning and poor long-term strategies by State agencies and local administrations had left sites of rich … [Read more...] about National parks focus on eco-tourism development

Prime Minister Nguyen Tan Dung (left) and President of the European Commission Jean-Claude Juncker at a press conference in Brussels on Wednesday.— VNA/VNS Photo Duc Tam BRUSSELS (VNS) — Prime Minister Nguyen Tan Dung held talks with the President of the European Commission (EC) Jean-Claude Juncker on Wednesday in the framework of his working visit to Belgium and the European Union. The PM also had meetings with the President of the European Council Donald Tusk, President of the European Parliament (EP) Martin Schulz and Chairman of the EP's group of parliamentarians for friendship with Viet Nam Jan Zahradil. During their talks, the Vietnamese government leader and the EC President expressed satisfaction with the development of Viet Nam-EU relations, particularly the economic-trade ties and development co-operation. They compared notes on measures to further enhance the relations across the fields of politics, economy, science-technology, energy and climate change. PM … [Read more...] about PM Dung holds meetings with European leaders Juncker, Tusk

Experts oppose HCMC’s proposal for excise tax on cellphones By Tam An A person uses a mobile phone in this file photo. The HCMC government’s proposal on excise taxes for mobile phones and some other products is said to be unreasonable - PHOTO: THANH HOA HCMC – The HCMC government’s proposal on excise taxes for mobile phones, cameras, perfumes and cosmetics goes against the city’s development plan and is likely unfeasible in the current context, according to some experts. Economic expert Pham Chi Lan told the Saigon Times that the proposal was a “weird initiative” as no other country is levying a special consumption tax on these popular products. HCMC residents, including those living in remote areas, are being encouraged to use mobile phones as a way to increase their access to information and knowledge, so it is unreasonable to impose an excise tax on mobile phones, Lan added. “Excise tax is applied to luxuries, which only high-income customers can afford, … [Read more...] about Experts oppose HCMC’s proposal for excise tax on cellphones

Local and foreign tourists like to visit the Bạc Liêu Wind Power Plant. — VNA/VNS Photo Trọng Đạt Viet Nam News BẠC LIÊU — The Cửu Long (Mekong) Delta province of Bạc Liêu plans to attract 1.6 million tourists by the end of the year, including 41,000 international tourists. Total revenue from the province’s tourism sector is expected to reach VNĐ1.3 trillion (US$56.4 million). In the first six months of the year, the province’s tourism sector saw significant growth. Tourism revenue was estimated at nearly VNĐ730 billion ($31.7 million), fulfilling 56.9 per cent of its target for the entire year and increasing by 10.45 per cent compared to the same period last year. Cao Xuân Thu Vân, director of the province’s Culture , Sports and Tourism, said the department had worked with local authorities to ensure a clean and comfortable environment for tourists, as well as safety , security and order in … [Read more...] about Bạc Liêu aims to attract 1.6 million tourists