Topic: Minister of Finance

Minister of Finance Ho Duc Phoc has signed Decision No. 1484/QD-BTC promulgating the Ministry of Finance (MoF)’s digital transformation plan to 2025 and orientation to 2030. The goal is to establish a modern, public, and transparent digital financial platform by 2025 based on big data and open financial data. By 2030, a rich and modern digital financial ecosystem is to be formed in all fields, ensuring the effectiveness and safety of information.

With proposals in place to reduce excise taxes and value added taxes on gasoline, total tax reductions stand at an unprecedented VND126 trillion ($5.3 billion). The Minister of Finance has said that such reductions and other difficulties make tax collections and balancing the budget extremely difficult.