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Debt burden risks budget stability 10:00 | 28/05/2021 Vietnam has had outstanding economic development in recent decades, even through the pandemic so far. However, public debt remains a concern among government officials who soon must cope with the maturity of the previous five years of debts, which may affect the state budget for the 2021-2025 period. The government may have to borrow its way out of difficulties. Photo: Le Tien With the National Assembly (NA) yet to consider and approve the ceiling for the governmentâs debt repayment targets, the government may recalculate these targets to ensure national financial security and promote rapid and sustainable economic growth. ....
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). ....
Mutual merit in Australian investment 08:00 | 26/02/2021 As Australia looks to diversify its economic and supply chains, Vietnam is a perfect partner for trade and investment opportunities. Dr. Craig Emerson, director of the Australian APEC Study Centre, explains how Australian businesses will enable Vietnam to become a cornerstone of their Asia growth strategy. Dr. Craig Emerson, director of the Australian APEC Study Centre Vietnamâs success in containing COVID-19 with minimal economic fallout compared to other nations has improved its already-strong reputation for competent governance. The government has been liberalising Vietnamâs economy for decades and is now reaping the benefits of rapid growth. ....
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