Highest tax evasion country

Spokeswoman for the Ministry of Foreign Affairs Le Thi Thu Hang (Photo: VNA) Hanoi (VNA) – Spokeswoman for the Ministry of Foreign Affairs Le Thi Thu Hang provided more information about a woman recently found guilty of tax evasion, and rejected rumours she was penalised for climate change activities. Speaking at the ministry’s regular press conference, Hang said the Hanoi People’s Court on June 17 held the first-instance trial and sentenced Nguy Thi Khanh to 24 months in prison for tax evasion under Article 200 of the Penal Code. The investigation and hearing was carried out in line with law, the trial was held publicly, and the defendant had all her rights guaranteed in accordance with law, the spokeswoman noted. “Vietnam adamantly fights against and strictly deals with law violations in accordance with legal regulations. All citizens are equal before the law,” she stressed, adding that Vietnam has carried out communications and education measures to gradually … [Read more...] about Climate activist prosecuted for tax evasion pleads guilty: spokeswoman

Ngụy Thị Khanh, former head of NGO GreenID and known for advocating the reduction of coal-fired power in Vietnam, was handed a prison sentence for economic crimes, not her environmental activism, spokesperson for the foreign ministry Lê Thị Thu Hằng said on Thursday. Ngụy Thị Khanh, director of Vietnam’s Green Innovation and Development Centre (GreenID), has been arrested for tax fraud. — Photo courtesy of Hanoi Police During the regular press briefing held in Hanoi, Hằng said that on June 17, the People's Court of Hanoi opened a first-instance trial and had subsequently sentenced the 46-year-old Ngụy Thị Khanh to 24 months in prison for tax evasion under Article 200 of the Penal Code. She was arrested earlier in February by the Hanoi's police. The investigation and trial process were conducted in accordance with the provisions of law, Hằng said, adding that the trial was held in public and the defendant’s rights were fully guaranteed as prescribed by … [Read more...] about Environmentalist prosecuted for tax evasion, not her activism: Foreign ministry

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

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

Bangkok (VNA) - The Thai government has decided to waive personal income tax for foreign actors when working in Thailand in the next five years, in a fresh bid to attract foreign crews to the country. Deputy Government Spokesperson Rachada Dhnadirek said on June 21 that the tax incentive is part of the government’s efforts to develop the country’s soft power. Thailand earned an average of 3.5 billion THB a year from foreign film crews from 2017 to 2021, with the revenue increasing to 5 billion THB last year. Incentives provided to foreign film crews include cash rebates of 15-20% of the expenses incurred in Thailand, with limits capped at 75 million THB, said Rachada adding that actors have been required to pay personal income tax while they were working in Thailand , despite the fact that they have to pay personal income taxes in their home countries as well. With the income tax exemption, Thailand expects to gain an average of 3.5 billion THB in revenue per annum … [Read more...] about Thailand to exempt income tax for foreign actors

The growth rate helps bring Vietnam’s economic growth in the first six months to 6.42 percent, the highest in three years. Last year, the first-half expansion rate was 5.74 percent. Manufacturing and processing in the first six months expanded by nearly 9.7 percent. Industry and construction expanded by 7.7 percent, while the agriculture, forestry and fishery sectors saw growth of 2.78 percent. The Index of Industrial Production (IIP) in the first six months surged in some key sectors, like garment (23 percent), electric equipment manufacturing (22 percent), and medicines production (17.5 percent). Sixty-one out of 63 localities in the country posted IIP growth, except for the provinces of Ha Tinh and Tra Vinh where the energy production sector posted a decline. Exports in the first six months rose 17.3 percent year-on-year to $186 billion, while imports increased by 15.5 percent to $185 billion. Retail and services revenue rose by nearly 12 percent year-on-year to over … [Read more...] about Q2 GDP growth highest since 2011

In the past two months, Vietnam’s retail fuel prices have set up new records five times. Curbing the rise of petrol prices are essential for Vietnam to contain inflation, stabilize macro-economic conditions, and support economic recovery, for which scrapping excise tax on this product should be considered. A petrol station in Hanoi. File photo The Vietnam Chamber of Commerce and Industry (VCCI) gave its view on the draft resolution of the Ministry of Finance (MoF) on revising the tax rates for petroleum products. The move, however, could only be seen as a long-term solution, as any decision on the cut of excise and value-added taxes for petrol products are subject to the ratification of the National Assembly, with the upcoming session scheduled to take place in late 2022. In this regard, the VCCI expressed its support for MoF’s suggestion to further cut the environmental protection tax on fuels and gas products, saying such a move could be done right in … [Read more...] about VCCI proposes to scrap excise tax on petrol

Vietnamese influential climate activist Nguy Thi Khanh was jailed for tax evasion, the Ministry of Foreign Affairs confirmed on Thursday, refuting the rumor that she was criminally charged for her climate-related activities. Khanh was sentenced to 24 months in prison for tax evasion during her trial at the Hanoi People’s Court on June 17. The investigation and hearing were carried out in line with the law, and the trial was held publicly, spokesperson for the Ministry of Foreign Affairs Le Thi Thu Hang answered the questions from foreign media during a regular press meeting on Thursday. The defendant had all her rights guaranteed in accordance with the law, Hang added. Vietnam is determined to fight and strictly deal with violations of the law in accordance with regulations, the diplomat stressed, adding that all citizens are equal before the law. Khanh was investigated and indicted for her economic offense, particularly breaking the rules on tax management, and she pleaded … [Read more...] about Vietnam refutes rumor that prize-winning environmentalist was jailed for climate-related activities

A worker operating a production line inside a Duc Giang Chemical plant in Hung Yen Province. In 2022, Duc Giang Chemical Group Joint Stock Company (DGC) sets a target of VND12.1 trillion in revenue and VND3.5 trillion in profit after tax. — Photo ducgiangchem.vn Thanks to their good growth potential and attractive valuation, chemical stocks are being included in the portfolios of investors. The stock market last week recorded four out of five declining sessions, of which the first session of the week recorded the strongest decline with the VN-Index losing more than 57 points. Some investors see this as an opportunity to hunt for cheap stocks. Pham Dinh Cong from Ha Noi told tinnhanhchungkhoan.vn that he had taken the opportunity to buy some stocks in the past week, prioritising the enterprises with good financial status and growth potential, such as the chemical group. According to ACB Securities Company (ACBS), in May 2022, the industrial production index of the chemical … [Read more...] about Chemical firms see growth potential thanks to rising selling prices

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