- © Copyright of Vietnamnet Global.
- Tel: 024 3772 7988 Fax: (024) 37722734
- Email: evnn@vietnamnet.vn
Update news vietnam's tax policy
The Ministry of Construction and the Ministry of Finance have aligned on a proposal to tax multiple property owners in an effort to reduce speculative behavior and stabilize the real estate market.
The problems in procedures for VAT (value added tax) refunds was the main topic at the second discussion session of the 2024 Business and Law Forum held on October 9, 2024.
Loc Troi Group (LTG) has sent a document to agencies asking to bar its former CEO Nguyen Huu Thuan from exiting the country because Thuan "committed fraud, causing loss of company assets".
With an average of 2,374 travel bans issued monthly for tax debts, the General Department of Taxation reveals that a small percentage of the VND 50 trillion owed has been collected.
Taxing second and subsequent homes and tightening lending to real estate buyers should only be considered if the move causes negative effects to the market, according to Nguyen Van Dinh, deputy chair of the Vietnam Real Estate Association (VREA).
After consulting with businesses and experts, VCCI has proposed a 30% land rent reduction for 2024, with a higher reduction for typhoon-affected provinces.
Recent proposals by the Ministry of Construction and the Vietnam Real Estate Brokers Association to tax second homes have reignited a fervent debate, highlighting potential drawbacks that could overshadow the intended benefits.
The HCM City Tax Department has retroactively collected VNĐ36.7 billion, indicating that VNĐ127 billion cannot be refunded or offset. As of June 2020, the unresolved VAT amount has surged to VNĐ366 billion.
The General Department of Taxation is set to introduce multiple digital channels to notify tax debtors more effectively, reducing incidents where individuals discover their travel bans at the airport.
The issue of temporarily banning business leaders from leaving the country due to overdue tax debts is stirring debate.
The temporary suspension on exiting the country because of tax debts is facing strong opposition from businesspeople and economists.
Given the evolving economic landscape and changes in living standards, The Ministry of Finance is conducting a comprehensive review and assessment of the Personal Income Tax Law, which includes the consideration of family circumstance deductions.
The General Department of Taxation will organise a direct dialogue with taxpayers from five provinces and cities to hear feedback on the practical implementation of current tax policies.
It is rare for business leaders to risk their reputations by delaying the payment of a few million VND in taxes.
Vietnam’s Tax Administration official clarifies that temporarily preventing business travel is not the most severe measure used in tax collection and is applied judiciously based on specific circumstances.
In H1/2024, billions of USD worth of small-scale goods crossed VN borders each month, leaving a massive gap in tax revenue. As other countries close tax loopholes on small-value imports, VN faces increasing pressure to amend outdated tax policies.
On September 23, the National Assembly Standing Committee discussed the draft Law on Corporate Income Tax (Amendment), including proposals aimed at easing the tax burden on specific industries, including the media sector.
Many wood businesses in Vietnam face significant delays in tax refunds as they struggle to verify invoices and meet tax regulations, with hundreds of billions of VND in refunds still pending.
The General Department of Taxation has gathered data from 140 million online business accounts. Tax revenues from e-commerce continue to rise, exceeding VND 50 trillion in the first half of 2024.
The Ho Chi Minh City Tax Department has issued a tax enforcement order for Thuduc House, demanding nearly $4 million in late payment penalties related to a $15 million VAT refund tied to an electronics smuggling case.