The Mekong Delta city of Can Tho has recently issued a plan, backed by a 150 billion VND (over 5.9 million USD) budget, to position itself as one of the 10 most digital-savvy localities in the country.

The US Department of Commerce (DOC) has ended in its entirety the probe into trade remedy tax evasion on wooden cabinets imported from Vietnam, according to the Trade Remedies Authority of Vietnam (TRAV) under the Ministry of Industry and Trade.

Vietnamese authorities will crack down on tax evasion by implementing strict measures to ensure individuals and businesses fulfill their tax payment obligations.

The application of global minimum corporate tax from the beginning of 2024 is expected to be an effective tool to prevent transfer pricing and tax evasion, thus helping to increase State revenue through additional tax collection.

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.

Vietnam has taken various measures in a bid to protect the interest of Vietnamese products and exporters in the EU markets, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade (MoIT).

A set of criteria for evaluating Vietnamese business culture was announced on July 14 in Hanoi by the Vietnam Association for the Business Cultural Development.

Deputy Prime Minister Truong Hoa Binh has assigned the State Bank of Vietnam (SBV) to devise measures to control illegal financial transactions and tax evasion via illicit international payment gateways.

While local export products have been facing more anti-dumping investigations and tax evasion cases in foreign countries, Vietnamese enterprises are still unaware of the risk.

Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.

Some Vietnamese exports have been investigated for origin fraud and tax evasion, which requires tougher action from the Vietnamese Government to settle the problem and keep its exports growing.

The State Bank of Vietnam (SBV) has warned Vietnamese credit institutions and foreign banks in the country to be cautious before working with peer-to-peer (P2P) lending companies as there are many risks related to the service.

The investigation agency of Khanh Hoa province’s Police has started legal proceedings against Tran Vu Hai, head of the law firm Tran Vu Hai, and his accomplices on a charge of “tax evasion”, the Ministry of Public Security announced on July 2.

Transaction limits for e-wallets should be set at appropriate levels to encourage cashless payment amidst an anticipated boom of e-commerce in Vietnam, experts have said.

Five officials of Yen Khanh Company were detained for further investigation into alleged illegal activity of using software to hide fee collection and evade tax at Ho Chi Minh City-Trung Luong Expressway’s toll booth, the Ministry of Public Security said on January 1.

The central coastal city of Da Nang will increase the level of scrutiny applied to budget tours in a bid to further develop sustainable tourism services.

Lead Economist for World Bank in Vietnam Sebastian Eckardt said in an interview granted to the Vietnam News Agency that Vietnam has been successful in attracting FDI, and the investment inflows have contributed greatly to Vietnam’s economic development.

Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Finance (MOF) and General Department of Taxation (GDT) to study media reports on transfer pricing of foreign direct investment (FDI) enterprises and tax policy.

The Investigation Police Department under the Ministry of Public Security on April 18 issued a decision to prosecute Phan Van Anh Vu, former chairman of the board of Bac Nam 79 Construction Joint Stock Company, for abusing position and power to misappropriate 200 billion VND (8.7 million USD) from the Dong A Bank (DAB).

The State Bank of Vietnam (SBV) has ordered financial institutions and other organisations providing payment brokerage services not to conduct cross-border transactions in cryptocurrency for fear of money laundering, terrorism sponsoring, tax evasion and fraud.