The Government needs to urgently review, revise, and update all the tax laws pertaining to electronic transactions in Vietnam, in order to facilitate timely declaration and payment of taxes by organizations and individuals.
The Border Guards Office of Tho Chau Commune (in Phu Quoc City of Kien Giang Province) yesterday announced that they detected 2 fishing boats transporting about 62,000 liters of DO oil illegally without any valid proof of purchase near Tho Chu Island.
In a talk with voters, National Assembly deputy Nguyen Sy Quang said that currently, through examination, the city police force and related prosecution agencies have recovered over VND1,300 billion (US$56.52 million) out of the total VND1,600 billion that need to be recovered in corruption cases.
Finance Minister Ho Duc Phoc said that the financial sector has been tightening revenue collection of e-commerce sales. The tax sector has so far collected about VND5,000 billion (US$ 219,385,102) from businesses on the internet.
There have been unhealthy online business activities in Ho Chi Minh City, especially during the latest Covid-19 outbreak. They have unavoidably decreased customer trust in general online commerce while led to tax revenue loss, which is why the municipal authorities must take measures to rectify the situation immediately.
Amid the context that Vietnam has joined a larger and harsher “playground”, such as the EU-Vietnam Free Trade Agreement (EVFTA), the more Vietnamese enterprises need to be protected and must take measures to protect themselves.
For a long time, the matter of transfer pricing of foreign-invested enterprises and multinational corporations has been giving authorities headaches, now the matter has widely spread to domestic associated enterprises.
To ensure a fair competitive environment in the field of trade, the Ministry of Industry and Trade (MoIT) has implemented measures to improve the safeguard capacity for domestic manufacturing industries amid the context that Vietnam participates in new-generation free trade agreements (FTA).
The Investigation Agency for Anti-Corruption and Smuggling under the Ministry of Public Security (C30) yesterday said that it has launched a probe on trading and using illegal software to conceal toll revenue and evade tax at the tollbooth in HCMC-Trung Luong Expressway.
Vietnam is facing illegal online cross-border payment in many tourtist destinations attracting most foreign visitors such as Quang Ninh, Nha Trang, Da Nang, resulting in tax losses from the “smokeless industry”.
The Ministry of Finance (MoF) will continue coordinating with the State Bank of Vietnam and other competent authorities to review the use of Malaysian company Grab’s grants from the mother company to its local branch.