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Seminar discusses Vietnam’s socio-economic development

March 4, 2021 by en.qdnd.vn

Photo: hcmct

A seminar themed “Vietnam towards a new decade and the future” was held in Hanoi on August 18.

The seminar attracted many scientists, managers, domestic and international experts, and international organisations.

In his address to the seminar, Prime Minister Nguyen Tan Dung highlighted three breakthroughs and 12 groups of major tasks to build and put into action Vietnam’s development strategy for the 2011-2020 period.

The PM said that the strategy aims to improve the efficiency of state management, push through administrative reform, strengthen the Party’s leadership and promote the people’s right to democracy in building up the state apparatus.

The PM stressed that participants should openly present opinions and suggestions to help complete the draft strategy.

The event was co-organised by the Vietnam Academy of Social Sciences with the technical support provided by the World Bank.

Source: VOV

Vietnam airlines raise domestic airfares post-Covid-19

April 23, 2020 by hanoitimes.vn

The Hanoitimes – Vietnamese air carriers have listed new domestic airfares which are higher than the fares applied during the social distancing period.

In the midst of the second social distancing period against the Covid-19 pandemic, Vietnamese airlines have quoted new domestic airfares that are three to five times higher than the fares applied since the beginning of the social distancing period, but still remain below the regulated ceiling price.

Source: Vietnam Airlines

Prices on the Ho Chi Minh City – Hanoi route range from VND3.6 million to VND6.7 million for Vietnam Airlines economy class, from VND1.7 million to VND2.9 million for Bamboo Airways’, from VND1.8 million to VND2.1 million for Vietjet Air’s.

Fares of the Ho Chi Minh City – Hanoi route

Airline	Economy class	Business class
Vietnam Airlines	US$152.8	US$284.6
Bamboo Airways	US$72.1 – US$123	US$161.4 – US$271.9
Vietjet Air	US$76.4 – US$89.1	US$89.1

Source: Bamboo Airways

Why high airfares?

The prices of domestic flights vary, depending on the time of purchase, Tran Trung Kien, a Thu Duc district-based ticket agent in Ho Chi Minh City told VnExpress . “Travel demand will increase as the social distancing will soon end and in anticipation of the coming public holidays (Reunification day of April 30 and May Day). Supply shortage drives airfares up,” Kien was quoted as saying.

Some airlines explained that travel demand between Hanoi and Ho Chi Minh City is high even during the time of social distancing. Meanwhile, in compliance with the social distancing measures against Covid-19, flights are operated at half capacity with seating arrangement of just two passengers in one row to ensure a safe distance.

According to the Civil Aviation Authority of Vietnam (CAAV), the Hanoi – Ho Chi Minh City route has been reopened but operated at the frequency of 5-6% below the pre-pandemic capacity. The agent also told local media that though domestic airfares are rising, they are still below the regulated ceiling.

Nguyen Xuan Thuy, a local transport insider, told Kinh te & Do thi that the airlines have heavily suffered from the Covid-19 pandemic and higher air fares are intended to offset the losses. However, as the Covid-19 pandemic is negatively affecting all people and every industry, “I suggest the transport ministry and airlines explain this increase more reasonably,” he was quoted as saying.

Due to the pandemic, 98% of airplanes have been grounded, local airlines could see a decline in revenue of up to VND65 trillion (US$2.7billion), much higher than the VND30 trillion (US$1.27 billion) previously estimated by the CAAV.

After three weeks of social distancing, domestic airlines have struggled with financial woes, according to Saigon Times . The airlines’ cash flow has been imbalanced in the first four months of this year, which makes it hard for them to recover faster. Cash flow from airfares and fuel cost reduction has not covered the fixed costs of the airlines.

In order for airlines to overcome the crisis, it is necessary to quickly issue policies on exemption and reduction of state-controlled aviation services (plane parking fees and screening fees, among others), environmental protection taxes for shipping companies, including airlines, to lower costs for air carriers, Saigon Times wrote.

In addition, the government should also refund value-added tax (VAT) in 2020 for industries directly affected by the pandemic such as aviation and tourism so that the enterprises can cover their operating costs.

Thuduc House denies connection with companies to commit tax fraud

March 4, 2021 by english.thesaigontimes.vn

Thuduc House denies connection with companies to commit tax fraud

By Van Phong & Dung Nguyen

An office of Thuduc House. The firm has denied cooperating with other companies to commit tax fraud – PHOTO: TPO

HCMC – Thu Duc Housing Development Corporation (Thuduc House), in its latest announcement, has denied any collusion with 70 companies to commit tax fraud as mentioned in a report by the General Department of Vietnam Customs.

In response to the customs agency’s report on some southern firms’ appropriation of value added tax (VAT) refunds, smuggling and illegal cross-border cargo transport, Thuduc House said it had no connection with Saigon Southwest Trading JSC, a subsidiary of Saigon Trading Group, as well.

As for the trade of electronic accessories, from 2018 to 2019, Thuduc House purchased the products from a domestic partner, An Lanh Phat Co., Ltd, through its subsidiary–Thuduc House Wood Trading JSC–and exported them to other countries.

Thuduc House, Thuduc House Wood Trading and An Lanh Phat are operating legally, with seals, legal representatives and headquarters and have sufficiently paid VAT as well.

Regarding the news that one of the importers of the products of Thuduc House could not import the products to Hong Kong and two others in Cambodia had no import data in 2018 and 2019, Thuduc House explained that it did not know if its partners had complied with their countries’ regulations and had no jurisdiction to ask them to prove their compliance with the law.

According to Thuduc House, KGL Vietnam Company, which transports the products of Thuduc House, confirmed that it had transported the products to the Phnom-Penh International Airport in Cambodia and the Hong Kong International Airport in Hong Kong and handed them over to the importers.

The conclusions of the inspectors of the HCMC Tax Department and the report of the General Department of Vietnam Customs are being verified. Courts and investigative agencies have yet to conclude that Thuduc House falsified documents to get VAT refunds.

Earlier, the HCMC Tax Department had ordered Thuduc House to pay more than VND451.3 billion in the tax refunds the firm is alleged to have illegally received from the tax authorities by asking banks to extract money from the company’s accounts and block all of its accounts.

The firm later opposed the HCMC Tax Department’s decision and filed a lawsuit against the taxman to the municipal People’s Court.

The court temporarily suspended the tax agency’s decision but withdrew its decision several days later.

According to the General Department of Vietnam Customs, Thuduc House exported nearly VND5.3 trillion worth of electronic accessories from February 17, 2017, to August 2, 2019. It later received VAT refunds valued at VND261 billion.

Enterprises selling the products to Thuduc House regularly changed their information about their headquarters, owners and legal representatives.

According to the customs agency, Thuduc House and its partners established subsidiaries to purchase local products at low prices, then exported them at much higher prices and appropriated tax refunds of hundreds of Vietnamese dong, causing huge losses for the State budget.

The Investigative Police Department for Corruption, Smuggling and Economic Crimes under the Ministry of Public Security has detained 20 people and seized 200 seals of local and foreign units involved in the case.