Surplus rooftop solar power sent to the grid will cost 0 VND

The Ministry of Industry and Trade has just sent out a draft proposal for a Government decree regulating the development of rooftop solar power.

In this draft, the Ministry of Industry and Trade proposes that rooftop solar power be linked to the national grid for self-use, not sold to other organizations or individuals, and not sold to the national grid. If it is transmitted to the grid, the output will only be recorded at a price of 0 VND. (See more)

Increase domestic airfare ceiling, highest economy class up to 4 million/way

The Minister of Transport has just issued Circular No. 34 amending and supplementing a number of articles of Circular No. 17/2019 on the price framework for passenger transport services on domestic flights.

Accordingly, from March 1, 2024, domestic economy airfares will increase by an average of 3.75-6.67%, including flights that increase to 4 million VND/one-way ticket.

Explaining the previous increase in airfares, the Civil Aviation Authority of Vietnam said that the ceiling on airfares has remained stable since 2019. However, fuel costs for airlines in December 2022 increased by nearly 62.4% compared to December 2014 and increased by approximately 81% compared to September 2015. (See more)

Proposal to extend environmental protection tax reduction on gasoline until the end of 2024

The Government has just submitted a document to the National Assembly Standing Committee, proposing to extend the environmental protection tax reduction policy on gasoline and oil until the end of 2024. The tax reduction is equivalent to 50% of the tax bracket and is being applied from April 2022. The budget is expected to reduce revenue by more than VND 38,900 billion when applying this policy.
According to the proposal, in 2024, the environmental protection tax rate applied to gasoline (except ethanol) will be VND2,000/liter; for jet fuel, diesel, fuel oil, and lubricants, it will be VND1,000/liter; and for kerosene, it will be VND600/liter. According to calculations, when this tax is reduced, the price of gasoline and oil to consumers will decrease by VND1,100-2,200/liter (including VAT), with kerosene alone decreasing by VND660/liter. (See more)

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Proposal to extend environmental protection tax reduction on gasoline until the end of 2024 (Photo: Tuan Anh)

Ministry of Finance informs about a series of issues regarding personal tax codes

The Ministry of Finance has just informed a series of issues regarding personal tax codes in the process of cleaning up and unifying the use of citizen identification codes instead of tax codes.

Notably, the tax code issued to a dependent is also the tax code of the individual when the dependent incurs obligations to the state budget.

According to the above regulations, when a dependent incurs tax liability, the dependent's tax code is also the individual's tax code used to declare and pay taxes according to regulations. When a dependent makes a tax declaration, the dependent's tax code will be converted by the tax authority into an individual tax code without requiring the taxpayer to complete conversion procedures with the tax authority. (See more)

Prime Minister directs to end lending to backyard businesses

The Prime Minister requested banks to stop lending to a number of businesses and projects in the ecosystem or backyard of the group.

That was the request of Prime Minister Pham Minh Chinh to credit institutions at the Conference to discuss solutions to remove difficulties in credit growth for production and business, promote growth and stabilize the macro economy, which took place on the morning of December 7. (See more)

SBV wants to 'extend' circular on debt repayment extension, keeping debt group unchanged

The State Bank of Vietnam (SBV) is considering and will report to the Government on extending the implementation period of Circular 02 on restructuring debt repayment terms and maintaining debt groups.

Reporting at the conference to discuss solutions to remove difficulties in credit growth for production and business, promote growth and stabilize the macro economy on the morning of December 7, the State Bank of Vietnam said that as of November 30, credit for the economy reached more than 13 million billion VND, an increase of 9.15% compared to the end of 2022 (in the same period of 2022, it increased by 12.02%).
The State Bank also said that deposit and lending interest rates have decreased by an average of 2-3% compared to the end of 2022 and it is expected that lending interest rates will continue to decrease in the coming time. (See more)

Minister of Industry and Trade urges official exports to China

On December 9, the Ministry of Industry and Trade held a conference to promote economic and trade cooperation between the northern border provinces and China. Industry and trade leaders requested that provinces and cities across the country, especially border provinces, urgently review the planning of planting and farming areas and reorganize production and processing according to the official export project.

"All localities must effectively implement the Official Export Project developed by the Ministry of Industry and Trade and approved by the Government" - the Minister of Industry and Trade emphasized and suggested continuing to promote the development of geographical indications and collective trademarks, focusing on coordinating the organization of trade promotion activities, and enhancing trade so that businesses of the two countries have the opportunity to explore trade and investment cooperation opportunities in border areas.

Ministry of Industry and Trade approves gas supply plan for electricity production in 2024

The Ministry of Industry and Trade has just issued a decision approving the gas supply plan for electricity production in 2024.

Accordingly, the gas output for electricity production in 2024 is 4,191-4,470 billion m3. Of which, the Southeast region: 2,943-3,060 billion m3; the Southwest region: 1,248-1,410 billion m3.

Hanoi charges highest entrance fee to sightseeing and tourist attractions of 120,000 VND

The Hanoi People's Council has just approved a draft resolution amending regulations on fees for visiting scenic spots, historical sites, and cultural works in the city. The new resolution increases the fee for visiting scenic spots from 30,000 VND/visit/location to a new level.

Specifically, the entrance fee to the Temple of Literature - Quoc Tu Giam is 70,000 VND/turn/guest; Ngoc Son Temple is 50,000 VND/turn/guest; Hoa Lo Prison is 50,000 VND/turn/guest; Thang Long Imperial Citadel Center is 100,000 VND/turn/guest; Huong Son scenic spot (Huong Pagoda): 120,000 VND/turn/guest.

Hanoi increases land price adjustment coefficient in 5 areas

At the 14th session of the Hanoi People's Council, term XVI, delegates voted to approve the land price adjustment coefficient in 2024 for cases applying the coefficient according to the provisions of law.

The land price adjustment coefficient in 2024 is the basis for collecting land use fees when allocating land without auction; collecting land use fees when organizations are recognized for land use rights, changing land use purposes; collecting land use fees when reselling social housing; determining the starting price for auctioning land use rights in Hanoi applied in 5 areas adjusted to increase compared to 2023, an average increase of about 17% in districts and about 22% in districts. (See more)