New guidelines issued for debt trading
The Ministry of Finance has issued a circular to guide the implementation of Decree 69/2016/ND-CP on conditions for debt trading. The Ministry of Finance has issued a circular to guide the implementation of Decree 69/2016/NĐ-CP on conditions for debt trading. — Photo congly.vn Under Circular 53/2017/TT-BTC, which will take effect from July 3, debt traders […]
VIAC encourages alternative dispute resolutions
The Vietnam International Arbitration Centre (VIAC) organised a workshop on Tuesday with the International Finance Corporation (IFC) to promote the use of alternative dispute resolution (ADR) methods in the banking and finance sector. The conference, named ‘Benefits and Challenges of Using ADR for Banking Disputes’, focused on the principles, conditions and procedures of commercial mediation […]
Decree set to tackle transfer pricing
Coming into force in May 2017, Decree No. 20/2017/ND-CP on tax administration of enterprises having transactions with related parties has laid a legal foundation to better control transfer pricing and prevent losses of state budget revenues. Tax agencies may assess tax in cases taxpayers fail to provide or sufficiently provide information__Photo: Hai Quan (Customs) online Lan Anh said the […]
Need to ‘faciliate’ payments for online public services
VCN- The implementation of payments for online public services for enterprises has initially achieved positive results. However, there are still many bottlenecks that need to be removed to increase convenience and efficiency and attract more people to participate in the services. One of the biggest difficulties in deploying e-payments in the public sector is […]
Tax inspections within 5 years for foreign retail businesses
VCN- The Deputy Director General of the General Department of Taxation, Mr. Cao Anh Tuan has just signed a document requesting the Taxation Department of provinces and centrally-run cities to review and inspect foreign retail businesses. Many foreign retail businesses will be subject to tax inspections within 5 years. The review and supplementation of the […]
Do not exclude personal liability for wrongful acts of bad debt
Mechanisms, policies and legislation on the handling of bad debts have not been finalized, legal provisions on the disposal of security property to recover much debt are still inadequate, so Resolution on handling bad debts of credit institutions are expected to solve these problems. In the evening of 23rd of May, in Hanoi, the People’s […]
Rights of creditors are being ignored
The creditors’ rights and ability to recover debt (credit institutions) are being ignored, notably the collateral recovery that caused doubtful debt. This is a shortcoming that credit institutions really want a new legal document to resolve the bad debt. Legal rights As Lawyer Nguyen Thi Phuong – Deputy Chairman of the Bank Legislation Club of […]
Vietnam should restrict tax exemption and reduction
On May 18, 2017 in Hanoi, Oxfam published the list of 15 “tax haven”. Mr. Francis Weygiz, Senior Advisor on Taxation of Oxfam said that Vietnam should restrict the application of preferential forms on the tax exemption and reduction time, because these forms will reduce the highest revenue collection. Accordingly, the list of 15 “tax […]
Necessary to expand electronic invoices
It is expected that from 2018 to 2020, the Taxation will expand the electronic invoices for all taxpayers including businesses and individuals. With nearly 100% of businesses now applying online tax declaration, it will be a chance for the Taxation expand electronic invoices. Control of turnover and anti-tax fraud According to the General Department of […]
Urge to collect tax debts
Besides, effectively implementing management solutions and urge to collect of tax debts, the taxation always focuses on the inspection and audit, contributing to reduce the tax debt and increase revenue for the State budget. According to a recent report of the General Department of Taxation, until March 31, 2017, the total tax debts of 63 […]