The Ministry of Finance has said it is developing a Decree on preferential tax rates to implement a series of FTAs in the 2022-2027 period, with some tax lines to come down to 0 per cent under a roadmap. An analyst from the Australian Economic Reform Program (Aus4ReForm) said that its participation in many bilateral and multilateral agreements with major economies in the world means Vietnam has become one of the most open countries in the region and the world.
The Ministry of Finance has forecast that CPI will increase 3.37-3.87 per cent in 2022; higher than the forecast of 3.4-3.7 per cent from the General Statistics Office. The State Bank of Vietnam, meanwhile, has put inflation in the range of 3.7 per cent, ± 0.3 per cent.
The Ministry of Finance has issued a new Circular that will tighten the importation of motor cars and motorbikes for non-commercial purposes, in order to prevent false declarations of import value to prevent tax losses. The Circular will take effect from September 10.
To improve Vietnam’s corporate bond market, the Minister of Finance has made three requests: review and amend regulations relating to corporate bond offerings and transactions; inspect the private placement of bonds at securities companies and enterprises; and closely supervise private corporate bond issuances.
In the face of acts of manipulation, fraud, and deceiving investors in recent years, the Ministry of Finance (MoF) has affirmed its determination to purify the financial market by strengthening management, supervision, inspection, and examination to regulate the activities of the stock market and the corporate bond market.
The quality of the 411 enterprise valuation companies in Vietnam and their 2,352 appraisers is quite low, which can create corruption and difficulties in State management. The Ministry of Finance has therefore revoked the Certificate of Eligibility For Providing Valuation Services from 65 companies and suspended the business valuation services provided by 26 companies. In order to overcome the limitations and shortcomings after more than seven years of implementing price laws, the ministry is also studying related amendments, including stricter regulations on valuations.
The Office of the Government has issued Official Letter No. 4974/VPCP-KTTH, conveying directions from Deputy Prime Minister Le Minh Khai on assigning the Ministry of Finance (MoF) to review and resolve considerations on tax regulations and complete regulations on collecting value-added tax and personal income tax for house rentals in Vietnam.
