The agriculture sector is experiencing unprecedented challenges owing to a considerable increase in input costs and a drop in sales prices. Duong Manh Hung, head of Agriculture, Forestry and Fisheries Statistics Department of the General Statistics Office, talked with Manh Bon about the need for tax policy to temporarily resolve the agricultural sector's difficulties, combined with the long-term goal of reducing reliance on imported materials.
Vietnam’s economy contracted 6.17 per cent in the third quarter this year, the most critical drop since 2000, when Vietnam's quarterly growth statistics were first published. Le Trung Hieu, general director of the System of National Accounts under the General Statistics Office shared why he remains optimistic about the country’s growth prospects.
Nguyen Thi Thanh Mai, deputy director of the Population and Labour Statistics Department under the General Statistics Office, takes a look at the results of the first bailout package supporting people and firms hit by COVID-19, and discusses how to enhance the efficiency of the next one.
Le Trung Hieu, director general of the System of National Accounts Department under the General Statistics Office, highlights the need to take radical measures for optimal GDP growth amid the current COVID-19 complications.
After raising tariffs to 25 per cent on $200 billion worth of Chinese imports last week, the United States is considering inflicting tariffs on a further $325 billion of their trade rival’s products. Economist Can Van Luc talked with VIR about the possible impacts on the Vietnamese economy from any steps the major powers decide to take next.
Tax management for mergers and acquisitions activities has recently drawn a great deal of attention from the public. Nguyen Van Phung, director of the Department of Tax Administration at Large Enterprises under the General Department of Taxation, told Manh Bon about the major points of the current tax law governing these transactions.
While the proposal to extend the land use duration for investors at special administrative-economic zones (SAEZs) to a maximum of 70 years did not enjoy widespread support, Tran Quang Chieu, standing member of the National Assembly Finance and Budget Committee, explains why he went a step further and proposed a maximum of 99 years.
The National Assembly’s Standing Committee has just delivered the last-round comments to the Draft Special Administrative Economic Zone Law (SAEZ) before it will be submitted to the National Assembly’s upcoming fifth session in late May. Hoang Van Cuong, member of the NA Economic Committee elaborates on what we must do to avail ourselves of SAEZ advantages for national development.
In 2017-2020 Vietnam will construct the eastern section of the North-South Expressway. According to PhD Bui Duc Thu, member of the Standing Committee of the National Assembly, the country needs a mechanism or policy to mobilize VND63.7 trillion ($2.8 billion) of private capital for this VND118.7-trillion ($5.23-billion) project.
At its next session, the National Assembly’s (NA) Standing Committee will continue discussing the Draft Law on Special Administrative-Economic Zones (SAEZs), focusing on the organisation of SAEZ governance. PhD Hoang Van Cuong, member of the NA’s Committee on Economic Affairs, talks in favour of sharply decentralised governance for SAEZs.
Vietnam’s total export turnover was estimated at $213.77 billion in 2017, increasing by more than 21 per cent compared to 2016—the highest increase over the last years. Nguyen Bich Lam, director general of the General Statistics Office (GSO) said that the Vietnamese economy had a miraculous performance in 2017.
Vu Nhu Thang, director of the International Cooperation Department under the Ministry of Finance, sheds light to the tax aspects in the agenda of the upcoming APEC 2017 Finance Ministers’ Meeting (FMM 24) to take place in the ancient town of Hoi An in the central province of Quang Nam on October 21, 2017.
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.
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.
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.