Experts recommend reducing corporate income tax for social housing project developers to 6% instead of the current 10% and lowering interest rates for homebuyers.
The government has decided to approve the proposal to draft a National Assembly Resolution on reducing value-added tax (VAT) as suggested by the Ministry of Finance.
The Deputy Prime Minister requested the Ministry of Finance to draft a Government Decree on the rate of registration fee for domestically produced and assembled automobiles before June 15th.
On the afternoon of June 1st, the National Assembly discussed the continued implementation of the 2% value-added tax reduction policy as stipulated in Resolution No. 43/2022.
The government has requested the Standing Committee of the National Assembly to allow the drafting of a National Assembly Resolution on reducing value-added tax (VAT) using a simplified procedure.
Given the sharp decline in car sales and the challenging market conditions, the Ministry of Industry and Trade believes that reducing the vehicle registration fee for domestically produced cars by 50% until the end of the year is necessary.
Former Arkansas Governor Asa Hutchinson has announced his intention to enter the race for the Republican Party's nomination in the 2024 US presidential election.
The Vietnam Automobile Manufacturers Association (VAMA) has proposed reducing the special consumption tax and registration fee for hybrid electric and gasoline-powered vehicles.
The General Department of Roads proposed that the Ministry of Transport report to the Prime Minister to direct the Ministry of Finance to reduce VAT for transport services and reduce corporate income tax to support transport businesses.
The Standing Committee of the National Assembly will hold an extraordinary session to consider and approve the draft Resolution on the environmental protection tax rate for gasoline, diesel, and lubricants.
The Ministry of Finance has proposed allowing domestic automobile manufacturers and assemblers to defer payment of approximately 20.000 billion VND in special consumption tax from June to September 2022.
Adding further solutions to support the aviation industry will require careful consideration and calculation, ensuring a balance of interests between businesses and the State.
Many stores and supermarkets have reduced the VAT by 2% on a range of products and services as per regulations, but many consumers are still unaware of this information.
The Ministry of Finance has just announced that it is seeking public comments on the draft Decree detailing the implementation of tax exemption and reduction policies according to Resolution No. 43/2022/QH15.
Finance Minister Ho Duc Phoc said the government proposed tax reductions with the hope that businesses and people would soon overcome the difficulties caused by the COVID-19 pandemic.
Domestic automobile manufacturers or assemblers will be granted an extension for paying excise tax from the end of the tax period between March and October 2020.
According to the Ministry of Finance, current tax regulations are already sufficient to encourage the automotive manufacturing and assembly industry, so there is no need to increase tax incentives.
Businesses in Can Tho have proposed support for bank loan interest rates and refinancing, tax reductions, and reduced social insurance contributions in the context of declining revenue.
Contrary to many people's expectations, the automotive market in the early days of 2018 has not yet achieved a breakthrough, and automotive businesses are still waiting for the period leading up to the Lunar New Year to increase sales.
To meet the deadline for submission to the Government, the Ministry of Finance requests that comments be submitted before August 29th.
In the first six months of 2017, Vietnam imported 51,000 complete automobiles, of which 8,900 were imported from Indonesia, accounting for 17% of the total number of imported cars in Vietnam.
Car imports in April 2017 saw a surprising drop compared to the previous month, but were still double the number imported during the same period last year.
Indian-imported cars were priced at just 86 million VND before arriving in Vietnam, but Vietnamese customers still haven't had the opportunity to buy these affordable vehicles.
The influx of cheap cars from India, priced at around 100 million VND per unit, into Vietnam is causing concern for the Ministry of Industry and Trade.
Indian-imported cars have a very low average price of 84 million VND per unit, but when these models arrive in Vietnam, dealerships list them at prices five times higher.
Despite tax reductions, imported cars from ATIGA member countries are still waiting a long time for prices to drop further.
(VTC News) - By early 2019, the tax reduction for passenger cars with fewer than 9 seats and engines under 2.0L, as outlined in the draft of the new Special Consumption Tax Law, will bring the tax rate to the same level as in the ASEAN region.
The Ministry of Finance and the Ministry of Industry and Trade disagree on tax policies to develop Vietnam's automotive industry, leaving businesses feeling stuck.
(VTC News) - Starting in 2015, preferential import tariffs on 8 types of automobiles and 1 type of motorcycle are expected to be reduced to the level committed under the WTO roadmap.
Public opinion is questioning why taxes aren't being reduced instead of raising gasoline and diesel prices?
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