1981 economic recovery tax act

Legislators at the plenary sitting on July 25 (Photo: VNA) Hanoi (VNA) – The 15th National Assembly (NA) is spending the entire day on July 25, on discussing the implementation of the socio-economic development and State budget plans during the first six months, solutions for task performance in the year’s latter half, and the development plan for 2021 - 2025. The plenary discussion, part of the 15th parliament’s first session, is broadcast live on radio and television. Earlier, Deputy Prime Minister Pham Binh Minh reported on the socio-economic and State budget situations in the first half of 2021, noting that the economic growth of 5.64 percent during the period was relatively high compared to other countries, many localities hit by the COVID-19 pandemic still posted growth, the macro-economy stayed stable, inflation was kept low, while the major balances of the economy, the monetary market, credit, exchange rates, and interest rates were also stable. For the … [Read more...] about NA talks socio-economic development in 2021, next five years

A view of the session. VNA/VNS Photo HÀ NỘI — The 15th National Assembly (NA) on Sunday discussed the implementation of the socio-economic development and State budget plans for the first six months of the year. They also discussed solutions for the performance of tasks in the second half of the year and the development plan for 2021 to 2025. Deputy Prime Minister Phạm Bình Minh reported on the socio-economic and State budget situation for the first half of 2021, noting that the economic growth of 5.64 per cent during the period was relatively high compared to other countries. He also noted that many localities hit by the COVID-19 pandemic still posted growth, that the macroeconomy stayed stable, that inflation was kept low, and that's the major balances of the economy, the monetary market, credit, exchange rates, and interest rates were also stable. For the remaining months of 2021, the Government is determined to keep macroeconomic stability, guarantee the major balances, … [Read more...] about NA talks socio-economic development for 2021 to 2025

Pandemic-hit HCM City looks to sustain growth momentum this year Ho Chi Minh City, the biggest economic hub in southern Vietnam, aims to sustain growth momentum in the remaining months of 2021 even when it is battling the worst-ever COVID-19 resurgence which began in late May. Data from the municipal Statistics Office, the city’s Gross Regional Domestic Product (GRDP) grew 5.46 percent year-on-year in the first half of this year. Total retail sales of goods and services reached about 542 trillion VND (23.5 billion USD), up 7.3 percent year-on-year. Budget revenue exceeded 198.56 trillion VND, up 20.7 percent and representing 55.7 percent of the yearly plan. Its Industrial Production Index (IIP) picked up 5.9 percent during the period, with growth seen in all four key industries – food and beverage (1.2 percent), pharmaceutical chemistry (2.6 percent), electronics (15.6 percent), and mechanical engineering (10.7 percent). This year, HCM City sets to achieve … [Read more...] about VIETNAM BUSINESS NEWS JULY 25

Conserving the people’s resources advisable By Phan Minh Ngoc The results and effectiveness of government support for the people and businesses should be verified - PHOTO: UYEN VIEN The General Department of Taxation has recently announced the collection of key taxes— such as corporate income tax, luxury tax, value-added tax, and, especially, personal income tax—has all exceeded estimates and targets, being considerably higher than in the same period last year. This news emerged when the pandemic is at its current peak in Vietnam with strict social distancing and lockdown measures implemented across the nation. The now spreading Covid-19 pandemic is aggravating the difficult situation of both the people and the corporate sector that have already been mired in troubles. It is undeniable that the above good news from taxmen has been giving rise to mixed opinions. Some people and companies have even deduced negative thoughts that the authorities have paid more … [Read more...] about Conserving the people’s resources advisable

Vietnam National Shipping Lines (VIMC) made consolidated revenues of more than VND6.2 trillion (nearly $269.6 million), a 20 percent increase, and consolidated profits of over VND1.1 trillion, doubling against the same period last year. Meanwhile, net profits of HCMC-based Saigon Port JSC surged 155 percent year-on-year. The company currently runs many ports in the city, including Tan Thuan, Tan Thuan 2, Nha Rong, Khanh Hoi and Sai Gon-Hiep Phuoc. Dong Nai Port JSC in the southern province of Dong Nai saw revenues and profits increase 38 percent and 35 percent, respectively between January and June. Profits of Cam Ranh Port JSC in the central province of Khanh Hoa, and of Quy Nhon Port JSC in the central province of Binh Dinh surged 118 percent and 93 percent, respectively. Gemadept Corporation’s management board estimated its first-half revenues at over VND1.4 trillion, up 19 percent, and pre-tax profits of some VND390 billion, up 38 percent. The firm owns four ports in the … [Read more...] about Seaport, maritime transport firms more profitable

Apartment buildings in Hoang Mai district, Hanoi. Mid-end apartments remained the most popular products offering to the Hanoi market in the second quarter of this year. (Photo: VNA) Hanoi (VNS/VNA) - The domestic property market has continued to show steady increases in the second quarter of this year. This, according to the Ministry of Construction , is because of a lack of new supply due to the COVID-19 pandemic. The ministry said in the second quarter, housing prices in Hanoi and Ho Chi Minh City continued to increase by 2-7 percent quarter on quarter due to the low new supply, while many localities saw a slight rise of 3 percent. House prices in Hai Phong, Binh Duong and Dong Nai increased by 5-9 percent quarter on quarter. Rental prices for serviced apartments and offices continued to fall at a rate of between 1-3 percent. In some big cities, rental prices for retail space decreased by 10-30 percent quarter on quarter. Regarding the land plot segment, the … [Read more...] about Housing price up in Q2 due to lower new supply during pandemic