"... the Finance Ministry wants the people's standard of living to stagnate, or even go backward, although, after 10 years, the fruits of economic growth have not been delivered to many people," he said, criticizing the ministry for focusing only on maximizing the amount of tax collected and violating the principle of fostering revenue streams. … [Read more...] about Vietnam’s proposed increase in minimum taxable income ‘thoughtless’
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Hanoi (VNA) - The Ministry of Transport has proposed the Government assign the Ministry of Finance to consider reducing several taxes for transport businesses affected by COVID-19. For the civil aviation industry, the ministry has suggested the Government to exempt import and environmental protection taxes on flight fuel from January 23 to December 31, 2020. In case of difficulties balancing the budget, the ministry expected the Government to cut half of these taxes and allow businesses to delay tax payments and budget contributions. The ministry also asked for reduced or suspended payments for corporate income, personal income and foreign contractor taxes from January 23 to December 31, 2020. Businesses are expected to enjoy cuts to value-added tax on domestic transport over three years. Last month, the ministry said the aviation sector would be heavily impacted by the COVID-19 pandemic, causing an estimated loss of about 30 trillion VND (1.29 million USD). National flag carrier … [Read more...] about Ministry proposes cutting taxes for transport firms
However, these plans may just fall through due to the COVID-19 outbreak that has been growing more serious in both Thailand and Vietnam for months now. On March 21, the Thai government ordered the closing of all shopping malls in Bangkok for 22 days when in a single day 89 new cases of infection were diagnosed, raising the total number to 411 in the country. This means that Central Group has seen little revenue from its nine shopping malls in the Thai capital these days. … [Read more...] about COVID-19 drags Central Group down?
Nghiêm Xuân Thành, Vietcombank’s chairman, said the bank had set a policy to reduce lending rates to all businesses and individuals affected by the epidemic. The total outstanding loans of sectors and industries hit by the epidemic to be offered an interest rate cut of 0.5-1.5 percentage points per year had reached more than VNĐ112.7 trillion. … [Read more...] about COVID-19 affected firms gain access to $695 million low interest loans
In these circumstances, real estate research firm CBRE Viet Nam told local media the lack of cold storage units was an opportunity for the industry. The growth of online sales and multi-channel retail could be an advantage for firms with cold storage units near metropolitan areas. … [Read more...] about Cold storage demand surges during COVID-19