Want to be in the loop?
subscribe to
our notification
Business News
POLICIES TAKE EFFECT IN APRIL
New policies on environmental tax, application of e-invoice, and customs fees and charges will come into effect in this April.
Environmental tax cut on gasoline
The National Assembly Standing Committee on March 23 passed a resolution on reduction of environmental protection tax on petroleum, oil and lubricants.
Specifically, environmental tax for gasoline shall be cut from the current VND4,000 to VND2,000 per liter.
Meanwhile, tax for diesel, fuel oil and lubricants shall be lowered from VND2,000 to VND1,000 per liter.
In addition, tax for grease and kerosene shall be reduced from VND2,000 to VND1,000 per kg, and from VND1,000 to VND700 per liter, respectively.
The tax on jet fuel, which had been lowered by VND1,500 per liter earlier, remains unchanged.
The tax cut, applicable from April 1 till December 31, 2022, was introduced after the retail petrol prices hit all-time highs of VND29,824/liter for RON95-III and VND28,985/liter for E5RON92 in early March
E-invoices to be applicable in 57 localities
Decision No. 206/QD-BTC dated February 24, 2022 of the Ministry of Finance on application of e-invoices in 57 provinces and centrally-run cities will take effect from April.
These localities are An Giang, Ba Ria-Vung Tau, Bac Giang, Bac Kan, Bac Lieu, Bac Ninh, Ben Tre, Binh Duong, Binh Phuoc, Binh Thuan, Ca Mau, Can Tho, Cao Bang, Da Nang, Dak Lak, Dak Nong, Dien Bien, Dong Nai, Dong Thap, Gia Lai, Ha Giang, Ha Nam, Ha Tinh, Hai Duong, Hau Giang, Hoa Binh, Hung Yen, Khanh Hoa, Kien Giang, Kon Tum, Lai Chau, Lam Dong, Lang Son, Lao Cai, Long An, Nam Dinh, Nghe An, Ninh Binh, Ninh Thuan, Phu Yen, Quang Binh, Quang Nam, Quang Ngai, Quang Tri, Soc trang, Son La, Tay Ninh, Thai Binh, Thai Nguyen, Thanh Hoa, Thua Thien Hue, Tien Giang, Tra Vinh, Tuyen Quang, Vinh Long, Vinh Phuc, and Yen Bai.
Each of the localities shall establish a steering committee for the application of e-invoices.
Previously, use of e-invoices was mandatory six provinces and cities namely Ha Noi, Ho Chi Minh City, Hai Phong, Phu Tho, Quang Ninh, and Binh Dinh from November 2021.
New regulations on customs fees and charges
Circular 14/2021/TT-BTC, dated February 18, 2021 prescribing customs fees and charges for goods and vehicles in transit, applicable from April 5.
The new circular shall replace the Circular No. 274/2016/TT-BTC dated November 14, 2016 of the Ministry of Finance.
Source: VCCI
Related News
VIETNAM’S GDP TO GROW 5.5% THIS YEAR – WB
This forecast is based on the assumption of a moderate recovery in manufacturing exports in 2024, fueled by rebound growth of 8.5% year-on-year in the fourth quarter of 2023 and 17.2% year-on-year in the first quarter of 2024, reflecting strengthening global demand, said Dorsati Madani, senior country economist at the WB in Vietnam.
FARE REFUND FOR VISA REJECTION
Cathay Pacific will offer full refunds for cases of visa rejection to provide you with the confidence to explore the world with ease. If you are planning to fly to a destination that requires an entry visa, you can now book with greater peace of mind.
FOUR COMMODITIES POST Q1 EXPORT VALUE OF OVER 5 BILLION USD
The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.
MOIT PROPOSES SCHEME TO BOOST RENEWABLE ENERGY PROCUREMENT
The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.
REAL ESTATE BONDS PLACE PRESSURE ON ISSUING FIRMS
The ministry’s recent report underscores concerns within Vietnam’s corporate bond market for 2023 and 2024. It emphasizes the critical need to address hindrances to the real estate sector in line with the objectives provided in Government Resolution No. 33/NQ-CP, which aims to stabilize the industry.
DA NANG CUSTOMS FOCUSES ON DEVELOPING CUSTOMS-BUSINESS PARTNERSHIPS
Da Nang Customs Department issued an action plan for developing customs-business partnership in 2024. One of the new events this year is the workshop on “Settlement reports for enterprises engaged in outsourcing, export production and export processing” held in Da Nang Customs Department on April 16, 2024.