Tax deferral to ease business operations 08:00 | 03/03/2021
A postponement of business-related tax would assist pendemic-stricken companies and the state budget. Photo: Le Tien
The Ministry of Finance (MoF) has proposed that the government approves a decree on extending the payment of taxes and land fees in 2021 with particular measures for every tax, beneficiary, and business sector.
The MoF suggested delaying VAT payments for five months, reducing the total state budget by VND68.8 trillion ($3 billion) during the period. For corporate income tax (CIT), the MoF proposed deferring for three months â consequently, around VND40.5 trillion ($1.76 billion) will be paid to the state budget later, while VAT made by household and individual businesses to be delayed is estimated at VND1.3 trillion ($56.5 million).
Innovation Showcase | Schaeffler Bearings aid structural performance
22 Feb, 2021
For large structures such as commercial buildings, bridges and dams, the design of the supporting bearings is critical to structural performance.
The surrounding structure can greatly influence the behaviour of the bearing and so it is important that the selection of the bearing is correct. Schaeffler helps architects, structural engineers and main contractors around the world select the most suitable, cost effective bearing solutions for their projects.
It uses its expertise and experience as early as possible in the design stages of building and civil engineering projects. With this in mind, Nam Anh Group in Vietnam looked to Schaeffler when it came to design the radial gates of the Tra Khuc River Downstream Dam.