The ministry calculated that with such a reduction, the State budget revenue will fall VND87.33 billion (US$3.8 million) per month. However, the cut will help air transport businesses ease the financial burden and maintain business operations as the COVID-19 pandemic is still serious and unpredictable worldwide. … [Read more...] about Finance ministry wants to cut 30 per cent of environment protection tax on jet fuel
Finance
Philippines, AIIB ink pact on co-financing for COVID-19 response
Hanoi (VNA) - The Philippines has signed an agreement with the Asian Infrastructure Development Bank (AIIB) committing the multilateral lender to extend a loan of 750 million USD to support government efforts to mitigate the COVID-19 outbreak. The Philippine Department of Finance (DOF) said on June 9 that it intends to use the new loan to augment the funds needed to slow down the viral transmission and carry out an economic recovery plan designed to fuel growth and create jobs. In its statement, the DOF said the loan accord cements the AIIB's commitment to co-finance with the Asian Development Bank (ADB) in the Philippines' COVID-19 Active Response and Expenditure Support (CARES) programme. The AIIB loan carries a maturity period of 12 years, inclusive of a three-year grace period. Last month, Philippine Finance Secretary Carlos Dominguez signed an agreement with ADB Country Director for the Philippines Kelly Bird that would enable the government to access up to 1.5 billion USD in … [Read more...] about Philippines, AIIB ink pact on co-financing for COVID-19 response
Vietnam integrates enterprise tax declaration into National Public Service Portal
As of 2019, the department has completed the integration of online corporate tax payment with the NSC Portal, while announcing online individual tax payment services via internet banking. At present, the department works with seven banks on this service, namely Vietcombank, Vietinbank, Agribank, VPBank, BIDV, MBBank, and TPBank. … [Read more...] about Vietnam integrates enterprise tax declaration into National Public Service Portal
Three horses to pull nation’s economic growth: PM Phuc
Attracting social investment, private investment and foreign direct investment (FDI) was also key. The PM said that if Vietnam failed to offer proper conditions, for example, infrastructure or incentives, FDI would go to India, Indonesia, Thailand or Malaysia instead of Vietnam. … [Read more...] about Three horses to pull nation’s economic growth: PM Phuc
Measures needed to ensure on-schedule public investment disbursement: NA deputies
The coronavirus crisis has apparently dealt quite a blow to our development. It’s understandable that public capital disbursement has been seen as an important measure to stimulate economic growth, but we cannot pursue indiscriminate disbursement at all costs for the sake of growth. This might lead to actions that go dangerously against regulations, fiscal responsibility and discipline. … [Read more...] about Measures needed to ensure on-schedule public investment disbursement: NA deputies
