Việt Nam News

After the proposal to cut the petrol price stabilisation fund and import tax, the Ministry of Finance (MoF) has announced plans to cut the environmental tax on fuel.

Inflation control is one of Việt Nam’s urgent tasks, given the country’s deep integration in the world economy and its dependence on material imports, Minister of Finance Hồ Đức Phớc said at the 15th-tenure National Assembly’s third session meeting on Thursday.

The number of newly-established enterprises in the first five months of the year was 62,961, up 12.9 per cent over the same period in 2021, according to the General Statistics Office (GSO).

Vietnam Chamber of Commerce and Industry (VCCI) has recently made additional comments on the draft amending Decree 126 on taxation and invoices, repeating its disapproval of e-commerce platforms’ paying tax on behalf of vendors.

The HCM City transport industry has sought Government support to help recover from the double whammy of the COVID-19 pandemic and skyrocketing fuel prices. 

Domestic purchasing power has rebounded after a strong decline caused by the COVID-19 pandemic. That rebound has facilitated businesses to step up production and seize new opportunities, experts have said.