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 […]
Tax debts can be paid gradually if they are guaranteed by credit institution
If a business of tax debt is enforced but it cannot afford to pay the debt at once and propose to pay gradually, the tax debt will be paid within a maximum of 12 months from the beginning date of enforcement period for implementation of tax administrative decision with a guarantee of the credit institution. […]
The Minister of Finance directly removes difficulties of enterprises
Speaking at the Prime Minister’s meeting with enterprises on 17th May 2017, the Minister of Finance, Mr. Dinh Tien Dung reported the results in supporting enterprises and directly answered the proposals of enterprises at the meeting. Accordingly, upon the implementation of the Government Resolution 35 / NQ-CP on business support and development until 2020, the […]
Business Briefs May 19, 2017
* Transport & Industrial Investment and Development Company (TCD) will begin trading nearly 32.5 million shares on theHCMCitymarket on May 26 at the starting price of VND16,000 each. The enterprise operates in infrastructure and project development, stone processing, farm produce trading and production and international manpower supply. In 2017, the enterprise targets to gain VND897.5 […]
Electronic invoices must be used from 2018
The target of the Finance is that by 2020, electronic invoices must be used with 90% of businesses or 90% of goods traded by electronic invoices on the basis of the roadmap from 2018. That is the provision of the draft Decree replacing Decree No. 51/2010 / ND-CP of 14th May 2010, and Government’s Decree […]
Goods labeling under stricter control
Goods labels must be displayed directly on goods or their commercial packages in easy-to-spot positions clearly and fully showing compulsory information about the goods.Under Government Decree No. 43/2017/ND-CP dated April 14, on goods labeling, a label’s compulsory information includes name of the goods, name and address of the organization or individual responsible for goods, origin […]