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Some sectors excluded from VAT reductions
Banking & Finance

Some sectors excluded from VAT reductions

Two months after VAT reductions were introduced on February 1, businesses are still confused about thousands of goods and services that appear to be ineligible. Ahead of a proposal to cut the VAT rate from 10 per cent to 8 per cent in all fields, the General Department of Taxation said many industries were unaffected by the pandemic, such as information technology, e-commerce, banking and finance, and real estate, so some sectors will be excluded from reductions.
Banking & Finance

Stock market setting records

Vietnam’s stock market set a new record in February, with 271,000 new accounts opened. As of the end of March, the number of individual investor accounts totaled nearly 5 million. Vietnam therefore reached a milestone of 5 per cent of its population joining the stock market.
Banking & Finance

MoF looks to clean up financial market

In the face of acts of manipulation, fraud, and deceiving investors in recent years, the Ministry of Finance (MoF) has affirmed its determination to purify the financial market by strengthening management, supervision, inspection, and examination to regulate the activities of the stock market and the corporate bond market.
Some sectors excluded from VAT reductions

Some sectors excluded from VAT reductions

Two months after VAT reductions were introduced on February 1, businesses are still confused about thousands of goods and services that appear to be ineligible. Ahead of a proposal to cut the VAT rate from 10 per cent to 8 per cent in all fields, the General Department of Taxation said many industries were unaffected by the pandemic, such as information technology, e-commerce, banking and finance, and real estate, so some sectors will be excluded from reductions.
HCMC Q1 budget revenue up 9.4%

HCMC Q1 budget revenue up 9.4%

Total State budget revenue in Ho Chi Minh City in the first quarter of 2022 reached more than VND121 trillion ($5.3 billion), up 9.4 per cent year-on-year, of which revenue related to real estate and crude oil contributed significantly. State budget expenditure totaled more than VND9.3 trillion ($406.7 million), down 33.8 per cent.
Strict control to continue over credit to risky fields

Strict control to continue over credit to risky fields

The State Bank of Vietnam (SBV) has directed credit institutions and foreign bank branches to continue strictly controlling financing in fields at risk or affected by Covid-19, such as real estate, build-transfer (BT) and build-operate-transfer (BOT) traffic projects, corporate bonds, and securities.
Stock market setting records

Stock market setting records

Vietnam’s stock market set a new record in February, with 271,000 new accounts opened. As of the end of March, the number of individual investor accounts totaled nearly 5 million. Vietnam therefore reached a milestone of 5 per cent of its population joining the stock market.
MoF looks to clean up financial market

MoF looks to clean up financial market

In the face of acts of manipulation, fraud, and deceiving investors in recent years, the Ministry of Finance (MoF) has affirmed its determination to purify the financial market by strengthening management, supervision, inspection, and examination to regulate the activities of the stock market and the corporate bond market.
IBOR increases as credit rises

IBOR increases as credit rises

Credit in the first quarter rose 5.04 per cent compared to the end of 2021 and 15.9 per cent year-on-year. The rise in credit led to an increase in the Interbank Offered Rate (IBOR). As of early April, the IBOR had increased over 2 per cent per annum for nine consecutive weeks, doubling since the end of 2021 and 5-6 times higher year-on-year.

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