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After Vietnam's tax authorities enhanced the collection of taxes from traders on digital platforms, including social networks and e-commerce sites, many traders are seeking ways to avoid paying them or pass the buck to buyers. Shopping on websites, e-commerce platforms, and social networks is a national trend. E-commerce has boomed in Vietnam with revenue of some US$13.7 billion in 2021. The figure is forecast to reach $39 billion by 2025. However, the tax revenue from this sector has not risen commensurately its growth. Multiple tricks to avoid taxes Minh Thu, living in Thu Duc City, a district-level city in Ho Chi Minh City, said after ordering a pair of shoes from an online trader on Facebook, she was surprised as the trader announced that from August 1, customers must make payments in advance and the trader will not offer the cash-on-delivery (COD) service as earlier. Money transfer descriptions must not include the words 'buy' or 'sell,' but Facebook or Zalo … [Read more...] about In Vietnam, online vendors seek ways to avoid taxes

Syngenta specialises in providing agro-pharmaceutical products, plant protection solutions and seeds, and is trusted by millions of farmers. — Photo coutersy of Syngenta Syngenta Vietnam, a leading science-based agri-tech company, has just joined HSBC Vietnam's green journey by placing their very first green deposit with the bank. This transaction will enable Syngenta Vietnam’s surplus money to be invested in sustainable and green projects and businesses, in line with the company’s global sustainability development strategy. HSBC’s green deposit programme, the first of its kind in Viet Nam, is a channel to mobilise green funds from the bank’s corporate customers, investing them in environmentally friendly projects and initiatives, while ensuring a stable and predictable return. Green deposits are used for the green financing, which is aligned with the HSBC Green Bond Framework and Green Loan Principles, under eligible green project themes (Renewable Energy, Energy Efficiency, … [Read more...] about Syngenta Vietnam joins HSBC’s green capital mobilisation

Ly Son Island, a popular destination of Quang Ngai. Illustration. (Photo: tuoitre.vn) Quang Ngai (VNA) – Revenue from travel among Hanoi , Ho Chi Minh City and the five Central Key Economic Zone city and provinces exceeded 63.07 trillion VND (over 2.69 billion USD), heard at a conference on August 8. The conference was held in the district of Tu Nghia, the south-central province of Quang Ngai, to review the two-year cooperation for tourism development among the two metropolises and the central localities of Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, and Binh Dinh. The review was expected to lay ground for the continued implementation of initiatives to boost intra-bloc partnership in tourism development post-pandemic. Reports showed that intra-bloc tourist arrivals totalled more than 17,68 million last year, given that the sector was badly hit by COVID-19. Vice Chairman of the Quang Ngai provincial People’s Committee Tran Hoang Tuan addresses the … [Read more...] about Hanoi, HCM City boost tourism linkages with Central Key Economic Zone

Foreign Minister Bui Thanh Son addresses the ceremony (Photo: VNA) Hanoi (VNA) – Foreign Minister Bui Thanh Son made a speech at the ASEAN flag-hoisting ceremony in Hanoi on August 8 on the occasion of the 55th anniversary of the regional grouping. Following is the full text of his speech. Excellencies, Ladies and gentlemen, It is my great pleasure to welcome all of you to the ASEAN Flag-Hoisting Ceremony today to mark the 55th founding anniversary of ASEAN. I am also happy to see all of you, healthy and safe after two years of COVID-19 outbreak. The ceremony this morning brings me back to the solemn moment as the ASEAN Flag was hoisted high amidst the stirring ASEAN Anthem at the very successful 55th ASEAN Foreign Ministers’ Meeting in Phnom Penh last week. Standing before the ASEAN Flag, we are truly proud of what we all have achieved in pursuing the aspirations of nearly 700 million Southeast Asian people for an ASEAN Community of peace, solidarity, resilience and … [Read more...] about FM Bui Thanh Son’s remarks at ASEAN flag-hoisting ceremony

Representative from PetroVietnam Camau Fertilizer JSC receives insignia as one of top 50 listed firms in Vietnam in 2022. Hanoi (VNA) – Four member companies of the Vietnam Oil and Gas Group (PetroVietnam) have been named in the list of the top 50 listed firms in Vietnam in 2022 compiled by Forbes Vietnam . They are Petrovietnam Gas Corporation (PV Gas), PetroVietnam General Service Joint Stock Corporation (Petrosetco), PetroVietnam Fertilizer and Chemicals Joint Stock Corporation (PVFCCo), and PetroVietnam  Camau Fertilizer JSC. PV Gas is at the ninth place in the list this year. This is the 10th consecutive year that the company has been honoured in the list. The company posted record revenue and profit in the first six months this year, with net turnover at 54.342 trillion VND (2.32 billion USD at current exchange rate), up 35% year on year and after-tax profit at 8.637 trillion VND, up 98% year on year. In the period, PV Gas produced and supplied more than 1 billion … [Read more...] about Four subsidiaries of PetroVietnam named in Forbes Vietnam’s list of top 50 listed firms

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 8. - Prime Minister Pham Minh Chinh on August 8 described digital transformation as an important tool for the building of an independent and self-reliant economy and the extensive and effective integration into the world. He made the remark while chairing the third meeting of the National Committee on Digital Transformation in Hanoi. Read full story - Issues in the areas of public security and culture, sports and tourism will be the focus of the upcoming question-and-answer session of the 15th National Assembly (NA)’s 14th session on August 10, according to a freshly-released plan of the NA Standing Committee. Read full story - A delegation of the Royal Cambodian Armed Forces (RCAF) led by Lt. Gen. Hun Manet, Deputy Commander-in-Chief of the RCAF and Commander of the Royal Cambodian Army, is making an official visit to Vietnam. Following an official welcome … [Read more...] about ☕ Afternoon briefing on August 8