state to speed up divestment by authorising selling under book value

State to speed up divestment by authorising selling under book value

It is expected that selling shares in blocks and withdrawing capital shares under par value will speed up the state’s divestment from enterprises; thus, a draft on these issues will be submitted to the government. Dang Tien Quyet, deputy head of the Ministry of Finance’s Corporate Finance Department, talked to VIR’s Manh Bon about these matters.
new tax policy has no blind spots

New tax policy has no blind spots

The new price range for the calculation of the natural resource tax that will come into effect from July 1, 2017is found to be remarkably wide. Moreover, in specific cases, the highest price used to calculate the tax is 1.42 times as much as the minimum level. Still, Nguyen Huu Tan, deputy director of the Tax Policy Department under the General Department of Taxation, told VIR’s Manh Bon that illegal profiteering is simply not possible with this tax policy.
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.
new year skips traditional cpi increase

New Year skips traditional CPI increase

There will be no price increase during the Lunar New Year months of January and February. Do Thi Ngoc, Deputy Director of the Price Statistics Department under the General Department of Statistics, explained the underlying reasons to VIR’s Manh Bon.
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.
ma tax payments vex authorities

M&A tax payments vex authorities

Tax in a merger and acquisition (M&A) is a complicated matter, but Nguyen Van Phung, head of the Big Corporate Tax Department of the General Department of Taxation under the Ministry of Finance and speaker at the 2016 Vietnam M&A Forum: “M&A in Wider Economic Boundaries”, told VIR’s Manh Bon that the tax authorities will make sure to collect their dues one way or another.
government bonds profit from surge in interest

Government bonds profit from surge in interest

The mobilised government bond volume jumped sharply in the first half this year. Minister of Finance Dinh Tien Dung shared inside perspectives with VIR’s Manh Bon on the government bond situation during the period and what measures have been taken to ensure healthier development of the bond market.
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.