Japan provides $4.2m grant to support Việt Nam's tax reforms efforts A grant of US$4.2 million from the Japanese Government to help support Việt Nam’s tax policy reforms was signed yesterday between the World Bank and the State Bank of Việt Nam.

Tax reform crucial for State budget sustainability

Taxes and duties are a very important source of State budget revenue and provide major finance for the Government’s socio-economic development programmes. In Việt Nam, tax revenue is starting to decline while expenditure continues to rise, threatening budget sustainability.

Property tax reduces household incomes and expenditures

Property has been suffered a variety of taxes in the process of formation, therefore, applying an annual tax on property is unreasonable and distorting the taxation principle.

Important legislation passed as National Assembly concludes

Việt Nam’s parliament had worked in a “democratic, responsible and serious” manner and accomplished many important tasks, NA Chairwoman Nguyễn Thị Kim Ngân said.

Tax increases inevitable to ensure efficiency: experts1

Financial and tax experts agreed that Việt Nam's corporate tax is too generous which might lead to insufficient State budget, hurting its development programmes.

For Vietnamese, zero tariff fails to translate into cheaper cars

Last month, Toyota Việt Nam unveiled the recommended retail prices for its first shipment of cars imported from Indonesia at zero tax, and most of them are higher than before the policy of zero tariffs took effect.

Finance Minister: VAT not to be raised, property tax meant to deter corruption

Minister of Finance Đinh Tiến Dũng said the ministry would not raise VAT tax to 11-12 per cent, adjust environmental tax, and assured the public that the “proposed property tax is meant to prevent corruption, State budget collection is important but not the primary purpose [of the proposal.]”

Việt Nam’s tax system reviewed

The collection of indirect taxes in Việt Nam is forecasted to increase in the coming time while direct taxes is predicted to account for a smaller proportion, according to a Fair Tax Monitor Index report released by Vietnam Institute for Economic and Policy Research (VEPR) yesterday.

Synchronised real estate laws will bring stability

Since the real estate market began to recover in 2014, the country’s laws regulating the market have transformed significantly. But as the laws have developed, many of them overlap, creating redundancies that the Government must now try to eliminate, Đặng Hùng Võ, former deputy minister of Natural Resources and the Environment, said at a conference held in Hà Nội on Thursday.

Backlash on MoF tax plan

Experts’ opinions on the Ministry of Finance's (MoF) tax adjustment draft proved to be mixed, while the business community struggles to keep up with the variety of newly proposed tax hikes.