VAT cut to affect price controls on some goods and services: VCCI
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has raised concerns that the reduction of value added tax (VAT) will impact the prices of certain goods and services that are subject to government price controls, if detailed guidance is not provided. The Government currently applies
VCCI again proposes abolishing special consumption tax on gasoline
HCMC – The Vietnam Chamber of Commerce and Industry, or VCCI, has repeated its proposal that the Ministry of Finance abolish the special consumption tax on gasoline. Gasoline is currently subject to import, environmental protection, special consumption and value-added taxes. Among the four taxes,
VCCI says rules needed for setting credit growth quotas
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has proposed policymakers provide regulations for the setting of credit growth quotas. Article 59 of the 2010 law on the State Bank of Vietnam (SBV) states that depending on the nature and degree of risks, the SBV can decide on a certain
VCCI proposes skipping checks on origin of goods with C/O
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) proposed that customs agencies skip checks on the origin of goods with Certificates of Origin (C/O) to ward off management overlap. The draft circular on the origin determination of imported and exported goods by the Ministry of Finance
VCCI proposes allowing businesses to set fuel retail prices
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has written to the Government suggesting fuel retail prices be decided by businesses based on supply and demand to prevent fuel shortages. VCCI also proposed doing away with the fuel price stabilization fund as it has failed to stabilize