transfer pricing in gun sights

Transfer pricing in gun sights

The State Presidential Office has held a press meeting announcing State President’s Order on the promulgation of amended and supplemented Law on Tax Administration, a crucial legal tool for the tax sector to ramp up the fight against transfer pricing.
oiling wheels of a slow moving machine

Oiling wheels of a slow moving machine

Vietnam improved its ranking in respect to tax facilitation as seen in the recent World Bank and International Finance Corporation (IFC)’s Doing Business 2013 Report, but it remains near the bottom among ASEAN countries. Hoang Thi Lan Anh, deputy head of General Department of Taxation (GDT)’s Reform and Modernisation Department, sheds some light on the matter.
taxing with an even hand

Taxing with an even hand

Bui Van Nam, chief of the General Department of Taxation, talks to VIR about the tax sector’s constant efforts to ease tax obligations for businesses and individuals and boost governance efficiency.
audit snapshot of soes failing to come up to mark

Audit snapshot of SOEs failing to come up to mark

Despite some improvements, the performances of state corporations and groups still fell below expectations in 2011, according to a Ministry of Finance report.
na gets budget conscious

NA gets budget conscious

The state budget implementation arrived on the National Assembly’s October 31 session agenda.
workers set for a tax break

Workers set for a tax break

The revised draft Personal Income Tax (PIT) Law took to the National Assembly agenda on October 26 and Deputy Minister of Finance Vu Thi Mai said 70 per cent out of a total 3.87 million labourers named in enterprise payroll system would not be required to pay tax if the VND9 million ($428) payment threshold was passed by the National Assembly.
gdt keeps big firms in order

GDT keeps big firms in order

Most big businesses directly managed by the General Department of Taxation (GDT) are maintaining stable performances, except several operating in property, construction and auto manufacture-assembling fields, General Department of Taxation’s Big Corporate Taxation Management Department head Dang Ngoc Minh tells VIR.
confidence is the name of the game

Confidence is the name of the game

Deputy head of Ho Chi Minh City National Assembly Delegation Tran Du Lich said over-emphasis should not be placed on gross domestic product (GDP) growth, as securing confidence from local people, businesses and investors was more important.
firms getting back on their feet

Firms getting back on their feet

Many firms are resuming operations thanks to the effective enforcement of Governmental Resolution 13/NQ-CP presenting some solutions for businesses to overcome difficulties. This has made Deputy Minister of Finance Do Hoang Anh Tuan confident in the nation fulfilling 2012 budget estimates despite some difficulties.
firms need tax help to overcome hurdles

Firms need tax help to overcome hurdles

Vietnam Tax Consultant Association chairwoman Nguyen Thi Cuc suggested the government soften tax rates during upcoming National Assembly sessions to help firms overcome investment expansion hurdles.
datc steps in behind business reshuffle

DATC steps in behind business reshuffle

Ministry of Finance’s Debt and Asset Trading Company (DATC) general director Pham Thanh Quang sheds some light on the on-going DATC supported business restructuring process and what steps to be taken to facilitate the process.
pit is short of the mark

PIT is short of the mark

Deputy Minister of Finance (MoF) Vu Thi Mai maintains that the proposed personal income tax threshold of VND9 million ($428) and taxpayer dependent deduction of VND3.6 million ($171)/person remains low against those in other regional countries.
power price hike ruffles feathers

Power price hike ruffles feathers

The power price added 5 per cent from July 1, scaling up firms’ difficulties. Vietnam Energy Association chairman Tran Viet Ngai sheds some light on current power price situation sourcing state support to help firms weather the storm.
alarm at soes debt levels

Alarm at SOEs’ debt levels

The prime minister said public debt must not exceed 65 per cent of the gross domestic product (GDP) by 2020, state-owned enterprises’ (SOEs) debt situation needs to be controlled.
smes look to kick up a gear

SMEs look to kick up a gear

Small- and medium-sized enterprises’ development is under spotlight. Investment authorities are penning the second small- and medium-sized enterprises (SMEs) development plan focusing on quantity and quality growth targets.