Business europe tax

Deputy Minister of Finance Ta Anh Tuan To control increases in petrol prices, the Ministry of Finance (MoF) has proposed to reduce the environmental protection tax for petrol products to the floor level. The reduction will be from VND550-1,100 per litre, depending on the kind of petrol. Deputy Minister of Finance Ta Anh Tuan speaks to local media about this issue. Since the beginning of the year, gasoline prices have fluctuated greatly. What measures has the MoF introduced to stabilise petrol prices? World petroleum prices have had complicated fluctuations from the beginning of 2022 until now, due to the recovery of large economies in the world along with impacts from the Russia-Ukraine conflict and COVID-19 pandemic. The MoF, a price managing agency of the Government, is very worried about the impact of increased gasoline prices on controlling inflation in 2022. To stabilise gasoline prices and minimise the negative effects of the petrol price increases, the ministry … [Read more...] about MoF proposes further environmental tax cut for petrol

A customer buys petrol at a petrol station of Vietnam National Petroleum Group (PLX) in Ha Noi. Deputy Minister of Finance Ta Anh Tuan speaks to local media about this issue. Since the beginning of the year, gasoline prices have fluctuated greatly. What measures has the MoF introduced to stabilise petrol prices? World petroleum prices have had complicated fluctuations from the beginning of 2022 until now, due to the recovery of large economies in the world along with impacts from the Russia-Ukraine conflict and Covid-19 pandemic. The MoF, a price managing agency of the Government, is very worried about the impact of increased gasoline prices on controlling inflation in 2022. To stabilise gasoline prices and minimise the negative effects of the petrol price increases, the ministry has recommended that Government and the National Assembly Standing Committee reduce some kinds of tax imposed on gasoline products. The ministry has submitted proposals to the National Assembly … [Read more...] about MoF proposes further cut to environmental protection tax for petrol

Businesses are in dire need of funds post-pandemic to buy raw materials. (Photo: nld.com.vn) Ho Chi Minh City (VNS/VNA) — A Ho Chi Minh City programme to link banks and businesses has seen around 93 trillion VND (3.97 billion USD) disbursed so far this year to help revive the economy which was battered for two years by the COVID-19 pandemic. Tran Du Lich, a member of the prime minister's economic advisory group, said the programme was one of the best ways to help businesses access resources to fund their recovery. Analysts say credit growth has risen sharply, indicating the efforts made by credit institutions to supply the economy with capital, and some banks have reported using up their full-year quota in just four to five months. Amid the rapid economic recovery, many businesses say they need more funds to supplement their working capital and expand. For small and medium-sized enterprises, banks remain the main source of capital, and it does not help their … [Read more...] about Government seeks to resolve businesses’ capital shortage

It said in a new decree that low-income and ethnic people should get land-use tax and fee cuts. Information about property be publicized and transaction should increasingly be made cashless to ensure a healthy market and prevent speculation, it said. The decree only allows land acquisition after a plan to relocate and support inhabitants is approved. It stipulates that relocation areas should be built first and relocated people should have an equal or better quality of life in the new area. It abandons the use of official land prices, and said instead they would be determined by the market. … [Read more...] about Tax people based on how many properties they own: Party decree

Tax inspection has put considerable pressure on business owners as the tax environment becomes more complicated and challenging. With the aim to support businesses to tackle the tax audit issues, on June 14, RSM Vietnam held the webinar RSM Tax Inspection 2022 to assist enterprises in successfully managing tax inspections. The webinar successfully attracted more than 150 participants from different companies. According to Le Khanh Lam, head of Tax & Consulting Services at RSM Vietnam, the COVID-19 pandemic had certain impacts on the number of tax adjustments and tax inspections in the first four months of 2022. The tax adjustments resulting from tax audits have declined as compared to the same period in 2021. Meanwhile, only 15 per cent of tax inspections have been completed according to the year’s plan. He added that due to the low number of tax audits in early 2022, the tax authorities would be likely to increase inspection in the second half of this year. Therefore, … [Read more...] about What businesses should prepare for the tax inspection

National Assembly Chairman Vương Đình Huệ meets representatives of the Vietnamese entrepreneur community in Europe in Budapest on June 26. — VNA/VNS Photo Doãn Tấn BUDAPEST — National Assembly (NA) Chairman Vương Đình Huệ met representatives from the Vietnamese entrepreneur community in Europe in Budapest on June 26 evening (local time), as part of his official visit to Hungary. Hoàng Mạnh Huê, president of the Union of Vietnamese Business Associations in Europe, said that the community has made great strides in recent years with encouraging successes, and become an effective bridge between the Vietnamese and European markets. They not only import a lot of commodities from Việt Nam into the European market and the supply chain of businesses in the host countries but also have been very successful in building a stable and efficient business model in accordance with the host countries’ laws, Huê added. The Vietnamese business community in Europe has deeply integrated into local … [Read more...] about NA Chairman meets Vietnamese entrepreneurs from across Europe in Hungary

In April 2022, Duong-Van Nguyen was awarded the prestigious title of IEEE Senior by the Institute of Electrical and Electronics Engineers (IEEE) in the U.S.. He is one of the youngest engineers to receive this honor in the history of IEEE. The IEEE Senior Member status is often awarded to an expert in the industry whose significant achievements have contributed to the world community in their field. Dr. Duong-Van Nguyen was awarded this honor because he has developed many outstanding solutions for the robotics and automotive industries during his more than 15 years in the sphere. Despite his many prestigious achievements, Dr. Duong admitted that he felt he has not done anything too extraordinary. In a recent interview with Tuoi Tre (Youth) newspaper, he shared not only his special ambition for robotics but also what he called his 'secrets of success.' Dr. Duong - Van Nguyen (L, 2nd) join a panel discussion with experts from well-known automotive companies at … [Read more...] about The ‘Vietnamese brain’ powering self-driving vehicles in Europe

Prime Minister Pham Minh Chinh speaks at the Da Nang investment Forum. The event offers more investment opportunities for domestic and foreign investors. Photo courtesy of Da Nang Investment Forum Prime Minister Pham Minh Chinh made the comments at the Invest Da Nang Forum in the central city on Saturday, urging businesses to invest more in Vietnam and Da Nang for both the benefit of business and the country’s prosperous development. “The Government of Vietnam is developing a wide-open economy to attract multi-sector businesses and investors for sustainable growth in climate change and global crisis and conflicts. We must strongly change institutions to be cooperative in dealing with market shocks,” PM Chinh said. “We do all the best in preventing corruption, inflation control, flexible money policy, diversifying supply chains to create trust and stable conditions for investors when doing business in Vietnam.” The PM also highlighted the efforts in the control of the Covid-19 … [Read more...] about Da Nang City calls for investment

In the first six months of 2022, Vietnam Airlines has resumed flights to 14 countries and territories, including the UK, France, Germany, Australia, the US, Japan, Korea, Thailand, Malaysia, Singapore, Laos, Cambodia, Taiwan, and Hong Kong. Lately, the airline has opened a new route to India and is preparing the necessary conditions to immediately reopen flights to China, Myanmar, and Russia when the conditions permit. The national carrier is expected to resume flights to Indonesia in July and key international routes to Japan, Korea, and Australia in November at the same flight frequency as in 2019. It hopes that it will be able to restore the entire international flight network, equivalent to that in 2019 by the end of 2023. The gradual restoration of international flight routes is an opportunity for Vietnam Airlines to improve the usage efficiency of resources, increase revenue, improve production and business results, reduce losses, and aim at profits in the following years. … [Read more...] about Vietnam Airlines plans to restore its entire flight network by the end of 2023

At the launching ceremony (Photo: Vietjetair.com) Hanoi (VNA) – Vietjet has officially launched four more services linking top destinations of Vietnam and India including Ho Chi Minh City/Hanoi – Mumbai and Phu Quoc – New Delhi/Mumbai. The new routes’ launch ceremony was held in Mumbai during the visit of Ho Chi Minh City’s leaders to Mumbai as Vietnam and India mark their 50th anniversary of diplomatic relations. The ceremony witnessed the presence of Phan Thi Thang, Vice Chairwoman of People’s Committee of Ho Chi Minh City, representatives of Consulate General of Vietnam in Mumbai and Vietjet’s leaders. The Phu Quoc – Mumbai route will operate four weekly flights on every Tuesday, Thursday, Saturday and Sunday, starting from September 8, 2022. The services between Phu Quoc and New Delhi will commence on September 9, 2022 with three weekly flights on Wednesday, Friday and Sunday. The Ho Chi Minh City/ Hanoi – Mumbai routes started operation in early June, 2022. The … [Read more...] about Vietjet launches four routes linking top destinations of Vietnam and India