Tax authority proposes to erase VNĐ12 trillion irrecoverable debts The General Department of Taxation (GDT) has proposed to erase VNĐ12 trillion (US$515 million) out of total VNĐ30 trillion irrecoverable tax debts.

“The Heart of Revolution”: “Open Banking” Brings Financial Empowerment to Society “The Heart of Revolution”: “Open Banking” Brings Financial Empowerment to Society

Standard repo contracting framework launched

Standardised repurchase agreement (repo) contracting frameworks will be implemented in the second half of this year to increase liquidity in Việt Nam’s bond market.

Organised crime ring busted in HCM City

13 members of an organised crime group in HCM City involved in illegal gambling and high-interest lending were apprehended on Tuesday, according to yesterday announcement by the police.

Bad debts are heavy load on tax agents

Nguyễn Đại Trí, deputy director of the Việt Nam Taxation Office talks to Hải Quan (Customs) newspaper about efforts to avoid losses in tax collection and to recover bad debts.

NA deputies seek solutions for shortcomings

National Assembly (NA) deputies on Friday noted that the country had recorded impressive socio-economic growth, but the government should continue to take measures to address long-existing shortcomings.

Forgiving tax debts must be done transparently

A recent proposal by the Ministry of Finance to clear over VNĐ26.5 trillion (US$1.16 billion) of tax arrears, accounting for more than a third of all tax arrears and irrecoverable fines, has raised public concern about the fairness and transparency of handling tax debts.

Tax authorities fight bad debts

Facing a large amount of outstanding late payments in the taxation and customs branches, the Ministry of Finance (MoF) is working on a draft resolution on handling tax arrears and irrecoverable fines to submit to the National Assembly.

PPC sees profit surpassing target

Phả Lại Thermal Power Joint Stock Company (PPC) in northern Hải Dương Province earned some VNĐ881 billion (US$38.7 million) in the first nine months of this year, exceeding target by 22 per cent.

Vietnamese bond market needs enlarging

Prime Minister Nguyễn Xuân Phúc has approved a roadmap for bond market development in the 2017-20 period, with a vision to 2030, under which the ratio of outstanding bonds to GDP is expected to be 45 per cent in 2020 and 65 per cent in 2030.

A Vietnam News Agency reporter speaks to Phan Thị Thu Hiền, director of the Department of Banking and Financial Institutions under the Ministry of Finance, about difficulties in implementation and solutions to achieve this goal.