seven ministries and agencies join fight against transfer pricing

Seven ministries and agencies join fight against transfer pricing

Decree No.20/2017/ND-CP on administration policies for controlled transactions has many new points, especially about preventing transfer pricing. Besides the General Department of Taxation that holds the main responsibility, seven ministries and municipal and provincial people’s committees will be involved in implementation. Nguyen Thi Lan Anh, deputy director of the Inspectorate Department under the General Department of Taxation, talked to VIR’s Manh Bon about the progress of the fight against transfer pricing.
directive orders fewer inspections

Directive orders fewer inspections

Reacting to companies’ widespread complaints of being subjected to inspections too frequently, immediately after the private sector dialogue on May 17, Prime Minister Nguyen Xuan Phuc signed Directive 20 adjusting inspection and examination practices and requesting government agencies to tackle the issue. Nguyen Thi Cuc, chairman of Vietnam Tax Consultants’ Association, told VIR’s Manh Bon that companies hope that government agencies will soon issue specific regulations.
measures to reach 67 per cent gdp growth target in 2017

Measures to reach 6.7 per cent GDP growth target in 2017

The government will not propose the National Assembly (NA) to adjust the economic growth target in its third session, which is scheduled to take place on May 22, 2017. Dr Nguyen Duc Kien, deputy chairman of the National Assembly Economic Commission, told VIR’s Manh Bon that if Vietnam focuses on available solutions, and especially, the disbursement of investment capital, the 2017 GDP growth may be closer to the target of 6.7 per cent.
private sector dialogue shows governments determination

Private sector dialogue shows government’s determination

On May 17 the prime minister (PM) will meet with 1,500 representatives of Vietnamese companies in the private sector. Nguyen Hong Long, deputy head of the government’s Steering Committee for Enterprise Innovation and Development, told VIR’s Manh Bon that the fact that the top leader of the government meets face-to-face with companies shows the government’s determination to support the private sector.
domestic accounting market approaching vast opportunities

​Domestic accounting market approaching vast opportunities

Trinh Duc Vinh, deputy head of the Department of Accounting and Auditing Regulations under the Ministry of Finance, elaborates on the Law on Accounting 2015 which is expected to propel the development of domestic accounting services.
scic to bolster sales in 2017

SCIC to bolster sales in 2017

State Capital Investment Corporation currently holds stakes in 146 businesses. Its chairman Nguyen Duc Chi shares with VIR the company (SCIC)’s major tasks set for 2017.
na commission deputy chairman on lifting the retirement age

​NA Commission deputy chairman on lifting the retirement age

The debate around raising the retirement age has garnered great public attention in recent months. Deputy Chairman of National Assembly Economic Commission Nguyen Duc Kien shares his views on the issue.
tax reduction for ambitious growth target

Tax reduction for ambitious growth target

Pham Dinh Thi, head of Tax Policy Department at the Ministry of Finance, brings some light to the government’s efforts to help businesses surmount difficulties to realise the ambitious target of one million healthy businesses by 2020.
professional ethics of journalism enshrined in press law 2016

Professional ethics of journalism enshrined in Press Law 2016

Ho Quang Loi, standing deputy chairman of the Vietnam Journalists’ Association, brings light to some new content in the Press Law 2016, particularly in regard to professional ethics of journalists in the current context of complex development circumstances.
further sct tweaks seem imperative

​Further SCT tweaks seem imperative

Amendments and supplements to the Law on Special Consumption Tax took effect from January 1, 2016. Nguyen Thi Cuc, chairwoman of Vietnam Tax Consultants’ Association, however, stresses the importance of further tax revision to facilitate actual development requirements and protect taxpayers’ rights.
bond issuances put pressure on bank interest rates

Bond issuances put pressure on bank interest rates

Bank mobilisation and lending rates are predicted to rise. Nguyen Ngoc Hoa, a member of National Assembly’s Economic Committee and also deputy director of Ho Chi Minh City Department of Industry and Trade, sheds light on its impact on business performance as well as the inflation situation.
boosting soe equitisation efficiency

Boosting SOE equitisation efficiency

Vietnam’s socioeconomic development plan for 2016-2020 was approved by the National Assembly on April 12. 
putting lending restrictions on oda capital

Putting lending restrictions on ODA capital

Accelerating capital disbursement is vital to scoring higher economic growth. Increased investment, however, could drive up budget overspending and public debt as well as ring the bell for a possible return of inflation in the wake of less effective investment. Tran Hoang Ngan, a member of the National Assembly’s Economic Committee, highlights the need to apply a lending interest rate payment on official development assistance capital to bolster usage efficiency.
science and technology development crucial to avoid lagging behind

Science and technology development crucial to avoid lagging behind

The Political Report of the 12th Party Congress has set targets to increase the total factor productivity contribution to 25-30 per cent of the economy’s growth and increase labour productivity by 4-5 per cent per year in the upcoming period. Le Bo Linh, Deputy Chairman of the Committee for Science, Technology and Environment under the National Assembly, highlights the importance of spurring science and technology development by making concrete goals to fill the gap in development between Vietnam and regional peers.
improving the states role the focus of reforms

Improving the state’s role - the focus of reforms

Nguyen Dinh Cung, head of the Central Institute for Economic Management, sheds light on the key messages from the 12th National Party Congress documents which will usher in more radical institutional reforms this year to underpin sustainable development for the country.