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.

The Ministry of Finance has raised concerns about the potential risks of reducing registration fees for domestically produced cars, highlighting the possibility of violating international commitments.

Not all individuals who owe taxes will have their departure delayed, the process only applies to a small number, according to the General Department of Taxation.

The Ministry of Finance has asked the Government to extend farming land use tax exemption to attract more investment into the agricultural sector.

Livestreaming is being scrutinised to discover the best methods of increasing tax management to ensure fairness and transparency in the online retail market.

From July 1, a reduced VAT rate of 8% will apply to most goods and services, helping to save costs and increase consumption.

National assembly deputies are concerned that failing to tax small-value imported goods sold through platforms like Shopee, Lazada, Tiki, and TikTok could lead to substantial revenue losses for the state budget.

On the afternoon of June 17, Minister of Finance Ho Duc Phoc submitted the draft Law on Value Added Tax (amended) to the National Assembly.

The issue of a businessman being temporarily banned from leaving the country due to his company’s tax debts of less than VND1 million has sparked significant debate. While some argue the regulation is necessary, others believe it is overly rigid.

Vietnamese authorities are ramping up tax supervision on individuals who earn income from livestreaming sales on e-commerce and social media platforms to ensure they comply with tax regulations.

The Ministry of Finance (MoF) has proposed imposing a special consumption tax on sugary beverages.

If services in non-tariff zones are taxed a 10 percent VAT, production costs will increase, affecting the competitiveness of Vietnam’s exports.

Businesses have been facing many difficulties in claiming goods eligible for the government’s two per cent tax cut, said Đậu Anh Tuấn, deputy secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI) and head of its legal department.