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Update news vietnam's tax policy
Vietnam's real estate market faces tough questions as experts discuss the potential effects of a proposed property tax on second homes.
Many cultural experts believe that raising VAT (value added tax) on cultural products is not a wise decision right now as this is not in line with the general trend.
Under the proposal, the Government plans to clear up rules on foreign businesses which have argued that they do not have a fixed base in Vietnam.
HCM City voters have proposed raising family allowances, or deductions for family circumstance, which have remained unchanged for more than 10 years, but the Ministry of Finance (MOF) says it cannot be done right now.
The Vietnam Digital Communications Association (VDCA) has raised concerns over a proposed 10% VAT on exported digital services, highlighting potential setbacks for the industry.
The Ministry of Finance has said it is not the right time to adjust the family tax deduction rate, reasoning that the Consumer Price Index has not fluctuated significantly.
A total of 115 foreign suppliers have registered and paid taxes through the electronic portal, contributing over 18 trillion VND (711.88 million USD) to the state budget, according to the Ministry of Finance’s General Department of Taxation (GDT).
Taxpayers have called on taxation bodies to listen to their legitimate needs and deploy an automatic tax refund policy.
Faced with alarming rates of obesity and related diseases, health experts in Vietnam urge the implementation of an excise tax on sugary drinks, aligning with global health recommendations.
Vietnam’s Tax Authority has confirmed that Temu’s operator has completed tax registration, initiating quarterly revenue declarations to ensure full compliance.
The Ministry proposes taxing additional properties and unused land to stabilize the real estate market and discourage speculative buying.
Taxpayers are encouraged to submit their documents online via the official software and websites of the General Department of Taxation.
Vietnam’s General Department of Taxation reported a 38% growth in e-commerce tax revenue, thanks to improved monitoring and data analysis.
The General Department of Taxation (GDT) said it would reconsider the level of tax debt that is required to prevent businesspeople from exiting the country.
The Vietnam E-commerce Association has expressed strong opposition to new tax regulations, arguing that platforms lack the expertise and infrastructure to take on such responsibilities.
The Ministry of Construction and the Ministry of Finance have aligned on a proposal to tax multiple property owners in an effort to reduce speculative behavior and stabilize the real estate market.
The problems in procedures for VAT (value added tax) refunds was the main topic at the second discussion session of the 2024 Business and Law Forum held on October 9, 2024.
Loc Troi Group (LTG) has sent a document to agencies asking to bar its former CEO Nguyen Huu Thuan from exiting the country because Thuan "committed fraud, causing loss of company assets".
With an average of 2,374 travel bans issued monthly for tax debts, the General Department of Taxation reveals that a small percentage of the VND 50 trillion owed has been collected.
Taxing second and subsequent homes and tightening lending to real estate buyers should only be considered if the move causes negative effects to the market, according to Nguyen Van Dinh, deputy chair of the Vietnam Real Estate Association (VREA).