vba petitions against soft drinks tax

VBA petitions against soft drinks tax

The Vietnam Beer Alcohol Beverage Association (VBA) has requested the Ministry of Finance (MoF) to withdraw its proposal to apply a special consumption tax (SCT) of 10 or 20 per cent on soft drinks due to a lack of practical considerations and negative impacts on soft drinks manufactures as well as the state budget.
tax on income from bank savings proposed

Tax on income from bank savings proposed

The latest proposal to tax an individual’s income from the interest accrued from the savings deposited in banks has become a bone of contention between the parties concerned.
city eyes large tax on second homes

City eyes large tax on second homes

The HCM City People’s Committee has proposed that the Ministry of Construction apply a high tax on second and subsequent homes, as well as when there are a high number of real estate transactions within a year.
no more alcohol tax hikes forum pleads

No more alcohol tax hikes, forum pleads

Taxes on alcohol and soft drinks should not be hiked again in the next few years since successive hikes in special consumption tax have had a strong impact on the market, a round table organised by the Viet Nam Beer, Alcohol and Beverage Association heard in HCM City on Wednesday.
experts tax customs reform needed

Experts: Tax, customs reform needed

Taxation and customs general departments must simplify their administrative procedures and eliminate unnecessary licences to attract more overseas Vietnamese investors, experts said.
government okays amendments to tax laws

Government okays amendments to tax laws

The Ministry of Finance on Tuesday announced a scheme for amending tax laws, including the laws on value added tax, personal income tax, natural resource tax and special consumption tax.
finance ministry proposes new tax on pickups

Finance Ministry proposes new tax on pickups

The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 per cent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their cost.
tax cut proposed on cement export

Tax cut proposed on cement export

The Ministry of Planning and Investment (MPI) has proposed export tax cuts on cement while local producers are struggling with high stockpiles as supply has exceeded demand in the domestic market.
grab uber subjected to tax checks

Grab, Uber subjected to tax checks

The General Department of Taxation recently sent a document requesting the HCM City Department of Taxation to inspect the tax payments of Uber B.V Netherlands Co Ltd and GrabTaxi Co Ltd.
higher second home tax to pose challenges

Higher second home tax to pose challenges

The Ministry of Finance (MoF)’s proposal to tax second and additional homes to restrict property speculation and oversupply would face challenges, experts have said.
trump vows to right self destructive tax code

Trump vows to right 'self-destructive' tax code

SPRINGFIELD: President Donald Trump hit the road to sell reform of America's "self-destructive" tax code on Wednesday (Aug 30), a major campaign pledge that remains short on detail and a long way from becoming law.
gaping holes in mof tax proposal

Gaping holes in MoF tax proposal

Value Added Tax (VAT) is a consumption tax that affects all consumers, which means changes in VAT regulations need to be considered thoroughly due their potential impact on the entire population of Vietnam. However, the recent proposal to increase VAT by the Ministry of Finance (MoF) still contains a number of issues that can potentially cause economic loss and undermine social equity.
tax burdens to raise beer prices

Tax burdens to raise beer prices

When the special consumption tax (SCT) on beer increases to 65 per cent, it is estimated that consumers will have to bear a tax levy of 45.9 per cent, not to mention the possible growth of value added tax (VAT) on beer proposed by the Ministry of Finance (MoF).
doubling of imported used car tax proposed

Doubling of imported used car tax proposed

Importing used cars with nine seats and less will become harder if a proposal to raise used car tariffs is approved by the Government. In fact, the proposed import tax rate is double its current level and would make used cars more expensive than new ones.
eu to seek google tax reform

EU to seek Google tax reform

BRUSSELS: EU finance ministers are set to discuss changing rules so that tech giants such as Google or Facebook are on the hook to pay more taxes in Europe, according to an EU document seen by AFP on Friday (Sep 8).