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).

After consulting with businesses and experts, VCCI has proposed a 30% land rent reduction for 2024, with a higher reduction for typhoon-affected provinces.

Recent proposals by the Ministry of Construction and the Vietnam Real Estate Brokers Association to tax second homes have reignited a fervent debate, highlighting potential drawbacks that could overshadow the intended benefits.

The HCM City Tax Department has retroactively collected VNĐ36.7 billion, indicating that VNĐ127 billion cannot be refunded or offset. As of June 2020, the unresolved VAT amount has surged to VNĐ366 billion.

The General Department of Taxation is set to introduce multiple digital channels to notify tax debtors more effectively, reducing incidents where individuals discover their travel bans at the airport.

The issue of temporarily banning business leaders from leaving the country due to overdue tax debts is stirring debate.

The temporary suspension on exiting the country because of tax debts is facing strong opposition from businesspeople and economists.

Given the evolving economic landscape and changes in living standards, The Ministry of Finance is conducting a comprehensive review and assessment of the Personal Income Tax Law, which includes the consideration of family circumstance deductions.

The General Department of Taxation will organise a direct dialogue with taxpayers from five provinces and cities to hear feedback on the practical implementation of current tax policies.

It is rare for business leaders to risk their reputations by delaying the payment of a few million VND in taxes.

Vietnam’s Tax Administration official clarifies that temporarily preventing business travel is not the most severe measure used in tax collection and is applied judiciously based on specific circumstances.

In H1/2024, billions of USD worth of small-scale goods crossed VN borders each month, leaving a massive gap in tax revenue. As other countries close tax loopholes on small-value imports, VN faces increasing pressure to amend outdated tax policies.

On September 23, the National Assembly Standing Committee discussed the draft Law on Corporate Income Tax (Amendment), including proposals aimed at easing the tax burden on specific industries, including the media sector.

Many wood businesses in Vietnam face significant delays in tax refunds as they struggle to verify invoices and meet tax regulations, with hundreds of billions of VND in refunds still pending.

The General Department of Taxation has gathered data from 140 million online business accounts. Tax revenues from e-commerce continue to rise, exceeding VND 50 trillion in the first half of 2024.

The Ho Chi Minh City Tax Department has issued a tax enforcement order for Thuduc House, demanding nearly $4 million in late payment penalties related to a $15 million VAT refund tied to an electronics smuggling case.

The General Department of Taxation has sent a document to 26 tax departments outlining solutions to support organisations, individuals and businesses suffering losses due to Typhoon Yagi and related flooding.

A travel ban has been imposed on Bamboo Airways CEO Luong Hoai Nam, citing the airline’s unpaid taxes, raising concerns about the airline’s recovery efforts.

The Ministry of Finance (MoF) maintains that adjusting the family deduction rates in tax payments is not appropriate at the moment, especially as the minimum wage has been raised since July 1, 2024.

The Ministry of Finance has proposed a bill to levy a new fixed tax on cigarettes in addition to the current excise tax of 75 per cent as the Government seeks to reduce consumption, but it has divided opinions.