Hanoi (VNA) – The tax sector has devised multiple measures to ensure the budget﷽ collection tar♐get is met in the second half of this year.
Accordingly, local taxation departments review and propose to provincial People’s Committees and relevant ministries policies and mechanisms to create a favourable business climate to support the development of enterprises.
The agencies will give advice to local authorities on the establishment of a steering committee on boosting and managing the state budget collection. They also target a year-on-year increase of 14-16 percent in budget collection.
Other efforts include enhancing forecast and analysis abilities to make timely assessments on factors that may affect the plan, and creating a feasible projection of budget collection based on data on economic situation and collection policies.
Weekly exchanges with taxpayers will be organised to address difficulties faced by enterprises, contributing to improving the investment environment. Classification of taxpayers will also be conducted for better management.
According to the General Department of Taxation, state budget collection in the first half of this year was estimated at 393.55 trillion VND (about 17.7 billion USD), an increase of 6.3 percent over the same period last year.
The amount represents 48.6 percent of the whole year’s estimate.
Among the 63 localities across the nation, 45 attained at least 50 percent of the year’s estimate for domestic collection, while 57 exceeded their collection for the same period last year.
The shortfalls seen in the other localities mainly stem from increasing numbers of company dissolutions, bankruptcies and halting of operations. Other factors include natural calamities and the plunging price of crude oil.-VNA
Budget revenues were estimated at 230.5 trillion VND (about 10 billion USD) in the first quarter of this year, up 0.3 percent year on year and meeting 22.7 percent of collection goals.
The Prime Minister has asked ministries and agencies to initiate drastic and effective measures to ensure a balance in the State budget amid decreasing revenues and rising expenditure.
Deputy Prime Minister Vuong Dinh Hue has asked the finance sector to adopt drastic measures to ensure a balanced State budget and to meet State budget collection targets set by the National Assembly.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Illustrative photo (Source: VNA)
