obama anchors budget on tax cuts for the rich

Obama anchors budget on tax cuts for the rich

US President Barack Obama will Monday roll out a populist election-year budget challenging Republicans to support his job creation drive and to finally agree to hike taxes on the richest Americans.
exporters anxious over eu carbon tax implementation

Exporters anxious over EU carbon tax implementation

With the European Union to begin use of the Carbon Border Adjustment Mechanism in October, the changes will have a direct impact on four categories of industrial products exported by Vietnam to the EU.
who official urges tobacco tax price hikes

WHO official urges tobacco tax, price hikes

Representative of the World Health Organisation (WHO) in Vietnam Angela Pratt has called on the country to raise tobacco tax and prices, which are still among the world’s lowest.
further tax support reflecting efforts to empower business

Further tax support reflecting efforts to empower business

The government is continuing to fuel struggling business performance with a new fiscal initiative in an aim to reach its desired economic growth.
beverage leaders plead for excise tax postponement

Beverage leaders plead for excise tax postponement

Key industry players are calling for the delay of increased taxes on alcohol and sugary drinks to support business recovery and ensure they do not undermine economic growth.
european businesses face the storm of new tax regime

European businesses face the storm of new tax regime

The application of the global minimum tax is getting nearer, creating a new challenge for multinational corporations. Thomas McClelland, chairman of the Tax and Transfer Pricing Sector Committee under the European Chamber of Commerce in Vietnam, talked to VIR’s Tung Anh about their preparations for the tax overhaul.
careful consideration required for sugary drink tax

Careful consideration required for sugary drink tax

In addition to increasing the excise tax on beer, wine, and tobacco, the Ministry of Finance has once again proposed to put sugary drinks into taxable status. Adam Sitkoff, executive director of the American Chamber of Commerce in Hanoi, spoke to VIR’s Nguyen Thu about the latest proposal.
beverage businesses baulk at tax rise plans

Beverage businesses baulk at tax rise plans

Industry experts and beer producers are urging for a delay in any increase to special consumption tax until at least 2026, giving the industry more time to recover from low growth.
knock on effects of global minimum tax regime

Knock-on effects of global minimum tax regime

A global minimum tax (GMT) policy aims to prevent tax avoidance and tax competition, and to ensure that all countries get a fair share of the tax revenues from the global profits of these organisations. The policy consists of two pillars, with Pillar 2 establishing the 15 per cent rate.
tax authority returns nearly 3 billion in vat

Tax authority returns nearly $3 billion in VAT

In the first seven months of 2023, Vietnam's tax authority has refunded $2.93 billion in VAT to businesses, with 80 per cent of the refunds made under the refund first, audit later scheme.
enterprises wary over rushed tax on sugary drinks

Enterprises wary over “rushed” tax on sugary drinks

Vietnam is considering a special consumption tax in its battle against the escalating obesity crisis, but industry insiders urge prudence due to the possible detrimental consequences for the beverage sector and wider economy.
lessons for vietnam in global corporate tax transformation

Lessons for Vietnam in global corporate tax transformation

Countries such as Thailand, Malaysia, Indonesia, and others have announced many drastic moves to find solutions to deal with and retain investors in anticipation of possible impacts of the global minimum tax (GMT).
global tax shift forces inevitable adjustment

Global tax shift forces inevitable adjustment

As the country adapts to the global minimum tax, Vietnam’s future as a prime investment destination is under the lens. Duong Hoang, partner and head of Tax at KPMG in Vietnam, offered VIR’s Luu Huong insights into this transformative phase, highlighting the synergies between Vietnam’s tax strategy and its quest to remain a magnet for foreign funding.
steel makers shape up to contend with new carbon tax

Steel makers shape up to contend with new carbon tax

Both foreign and local steel businesses are preparing for the upcoming implementation of the EU's Carbon Border Adjustment Mechanism, which will take effect in October.
fork in road for special consumption tax on alcohol

Fork in road for special consumption tax on alcohol

Industry insiders are worried that changes to taxes on beer will damage the domestic industry in favour of higher priced foreign brands.