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To know how reasonable tax regulation is By Khanh Binh The issue or adjustment of tax policies is never simple, as inclination towards one group will be disadvantageous for another. A reality is that the percentage of the high-income group or the rich is much lower versus the low- and middle-income groups but they have more influence on policies - PHOTO: THANH HOA One of the important roles of the tax sector is to ensure social equality through the regulation of the income gap between high-income and low-income groups. However, it’s hard to know whether the regulation is reasonable or not if attention is paid only to personal income tax but not the overall tax system. It is questionable that why there are countries where their governments impose the high personal income tax but their people still agree with the policy and which are the dream place for living and working by many people worldwide, while there are countries where the personal income tax seems not high … [Read more...] about To know how reasonable tax regulation is

The just-established Thu Duc City is already witnessing skyrocketing property prices, with hikes of around 30 per cent reminding local authorities of the need for special policies to manage the market. Property prices have been spiralling out of control since the establishment of Thu Duc City. Photo: Le Toan/ VIR Nguyen Minh Tuan, a resident in Phuoc Long Commune of the former District 9, was interested in a land plot in Dong Tang Long New Residential Area. However, this plot’s price has increased by more than 40 per cent compared to mid-2019 when Thu Duc City was yet in the pipeline. “The prices in this area have increased a lot; however, local landlords still predict that the prices will even further increase towards the end of the year. That is why buyers will certainly make a profit if they buy land plots right now,” Tuan told VIR. Prices in the area could sit anywhere at VND30-40 million ($1,300-1,750) per square metre depending on the location in 2019, but are … [Read more...] about Stability sought for Thu Duc City prices

RCEP has enabled Vietnam to be connected better with global supply chains compared with other new-generation free trade agreements. (Photo: VNA) Hanoi - The Regional Comprehensive Economic Partnership (RCEP) agreement has enabled Vietnam to be connected better with global supply chains compared with other new-generation free trade agreements (FTAs), an official has said. Nguyen Thi Thu Trang, Director of the WTO and Integration Centre at the Vietnam Chamber of Commerce and Industry (VCCI), said the signing of the RCEP at the 37th ASEAN Summit in 2020 demonstrated Vietnam’s resolve and success as ASEAN Chair. It also showed Vietnam is a trustworthy partner and expressed its prestige in the international arena. Regarding opportunities brought about by the agreement, Trang said it encompasses an economic region that provides the largest source of materials and equipment to Vietnam and serves as the country’s largest consumption market. The agreement also covers the largest … [Read more...] about RCEP smooths way for Vietnam to join global supply chains

HANOI, July 15 -- Vietnam’s Military Commercial Joint Stock Bank is seeking to sell a 7.5% stake to one or more foreign investors this year, its chief executive officer said on Monday. The bank, better known as MBBank, will issue around 123 million new shares and use 38.9 million treasury shares for the stake sale, CEO Luu Trung Thai told Reuters on telephone. MBBank shares are trading at 21,500 dong apiece, potentially putting the value of the deal at around 3.48 trillion dong ($150.13 million). “We will sell the stake to one or more foreign investors, and they will not necessarily be our strategic investors,” Thai said. The sale is part of the bank’s move to raise its operating capital and expand its operations over the next three years, including investing in digital banking services. MBBank, which is among the largest listed banks in Vietnam with a market capitalisation of nearly $2 billion, may organise a roadshow for the stake sale later this year, Thai said. The … [Read more...] about Vietnam’s MBBank to sell 7.5% stake to foreign investors this year: CEO