Reforms on corporate governance

Delegates discuss issues related to sustainable development at the ‘Good for Business, Good for Planet’ seminar held in HCM City on Wednesday. — VNS Photo Shifting to green growth would help businesses increase their competitiveness and catch up with trends in the domestic and foreign markets, delegates told a seminar in HCM City on Wednesday. As one of the world's most vulnerable countries to climate change, Viet Nam has made multi-dimensional efforts to drive the whole nation towards its collective goal of reaching net zero greenhouse gasses emissions targets, achieving sustainable development, and contributing to tackle the global climate change crisis, they said. Speaking at the ‘Good for Business, Good for Planet’ seminar held by Nhip Cau Dau Tu magazine, Tim Evans, CEO of HSBC Vietnam, said, “The green journey that Viet Nam has embarked on is bringing both opportunities and challenges. Those businesses who get onboard early can capture major opportunities and build a … [Read more...] about Going green gives businesses a competitive advantage

According to the Ministry of Finance, the disbursement of the state budget capital as of the end of July stood at nearly $8.1 billion, accounting for 34.47 per cent of the yearly plan and a slight on-year reduction. Of this, one centrally-run agency and 11 localities reported disbursement at more than 50 per cent, 17 ministries and agencies have reported less than 10 per cent, and the remaining met the national average. Some major infrastructure projects are delayed and costs are only going to go up in that case, Le Toan Specifically, in Ho Chi Minh City, the disbursement of public investment in the first seven months accounted for about 15 per cent of the total allocated capital or almost $1.4 billion. This figure includes $108 million from the central budget and $1.28 billion from local funds. Many important works in the city have yet to expense anything, including one project for green traffic development, a water improvement initiative in the Tau Hu-Ben Nghe-Doi-Te … [Read more...] about Direction for disbursement tightened after mixed results

Illustrative photo In addition to the achieved results, the PIT Law also revealed several shortcomings and many points that were not consistent with reality, including deduction for family circumstances. Therefore, the upcoming revised law should raise the family deduction for taxpayers from the current VND 11 mln per month to a higher level, to even VND 18 mln or VND 20 mln per month due to escalating costs of commodities. Now the current level of VND 11 mln per month has become irrelevant. Along with this, the family deduction for dependents which is currently VND 4.4 mln per month, should also be raised to 50% to 70%, or about VND 6 mln or VND 7.5 mln per month. Because the current level of VND 11 mln per month is not enough to live in urban areas, it cannot be considered a high taxable income. In addition, the Law on Personal Income Tax also reveals other limitations when many benefits arise that are not within the scope of salary and wages such as spiritual allowance, … [Read more...] about Family tax deduction must adjust each year