Business society expects stronger tax, customs administrative reform
The business community hopes for stronger determination from tax and customs sectors in administrative reform, said Vo Tan Thanh, vice president of the Vietnam Chamber of Commerce and Industry.
Hanoi (VNA) -The business community hopes for stronger determination from tax and customs sectors in administrative reform, said Vo Tan Tha🌱nh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI).
Many enterprises agree that despite the sectors’ recent efforts, tax and customs in administrative reform progress has yet to meet expectations or the country’s socio-economic development, Thanh said during a dialogue between the Ministry of Finance and the business community in Ho Chi Minh City on November 5.
According to a recent VCCI report on the tax sector’s operations, 49 percent of 2,500 surveyed enterprises in 63 localities nationwide complained that they find administrative procedures troublesome.
Besides, 92 percent of the firms said they saw positive changes in tax laws in the past five years, especially in value-added tax and corporate income regulations.
The sharpest cuts in the duration of administrative procedures were seen in land use, natural resources and special consumption taxes, the report said.
Meanwhile, most of the questioned businesses recognised impressive outcomes in customs renovation. However, they also pointed to a lack of synchrony between old and new procedures, which poses difficulties to businesses during implementation, Thanh said.
He said enterprises in the southern region wanted the tax and custom sectors to simplify administrative procedures and expand information channels while shortening duration and becoming more transparent.
At the same time, Deputy Minister of Finance Do Hoang Anh Tuan said stagnation during the implementation of laws in some tax and customs departments was among the main reasons some policies were inefficient.
The Government’s Resolution 19 on tasks and solutions to improve the business environment and national competitiveness in 2015 and 2016 has enabled the tax and customs sectors to make positive changes, he said, but the sectors should make more efforts in the field.
Currently, e-taxation systems have been applied in 36 localities, benefiting 506,000 enterprises. As of November this year, total businesses registering for e-tax payment reached 457,504, or 90 percent of operating firms.-VNA
Finance leaders and more than 500 business representatives sat together to discuss and answer questions raised by businesses relating to tax and customs policy and administrative procedures.
National Assembly deputies focused their discussion on the country’s socio-economic performance outcomes in 2015 and plans for 2016 during their sitting of the on-going 10th session on November 3.
Businesses expect further improvements in customs clearance to promote management efficiency while creating convenience in cross border trade, a conference heard on November 3.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.