Tighter management of credit in real estate
In the coming time, credit capital for real estate will be managed more strictly than before. Specifically, only real estate projects that meet business conditions will be allowed to borrow capital from banks. Borrowing activities will be limited if the companies or projects are not listed on the stock exchange.
These are new regulations in Circular 06 of the State Bank on credit lending that will take effect from September 1.
Request VAT refund immediately for completed files
The General Director of the General Department of Taxation has just sent a telegram to the heads of tax departments of provinces and centrally-run cities to direct the acceleration of the settlement of value-added tax (VAT) refund dossiers. The telegram contains many contents to remove the bottlenecks in VAT refunds that have existed for the past two years.
Notably, the General Department of Taxation requires that VAT refund applications that the tax authority has completed the inspection and determined to be eligible for refund must be processed immediately. (See more)
After EVN inspection of electricity supply, Deputy Prime Minister requested handling of violations
The Government Office has just sent a document to the Ministry of Industry and Trade and the State Capital Management Committee at Enterprises, conveying the direction of Deputy Prime Minister Le Minh Khai regarding the inspection conclusion of the Ministry of Industry and Trade on the electricity supply of Vietnam Electricity Group (EVN) and related units.
Accordingly, the Deputy Prime Minister requested the Minister of Industry and Trade to take full responsibility for the contents stated in the inspection conclusion; urge the handling of violations discovered during the inspection. The Ministry was also requested to check the handling after the inspection. (See more)
14 solar power projects enjoy wrong prices: Ministry of Industry and Trade requests EVN to have solutions
The Ministry of Industry and Trade has just requested EVN to review and propose economic solutions for 14 solar power projects that have been enjoying incentive price mechanisms that are not in accordance with Resolution 115/NQ-CP and report before August 31.
According to the conclusion of the Government Inspectorate, these 14 projects were applied the FIT price of 9.35 US cents/kWh not to the right subjects in Resolution No. 115/NQ-CP. Therefore, from 2020 to June 30, 2022, EVN had to pay an increase of about VND 1,481 billion (provisional) compared to the payment according to the right subjects in Resolution No. 115/NQ-CP. (See more)
Textbooks increase in price dramatically, discount up to 30%
The initial results of the National Assembly's thematic supervision on the innovation of general education programs and textbooks" provided some interesting information. The maximum distribution cost (discount) for textbooks serving the 2020-2021 and 2021-2022 school years of the Vietnam Education Publishing House is 29% of the cover price, 33% for workbooks, and 15% for teachers' books. For the 2022-2023 school year, the maximum distribution cost (discount) for textbooks serving the 2020-2021 and 2021-2022 school years is 28.5% of the cover price, 35% for workbooks, and 15% for teachers' books.
Information about textbook discounts immediately received attention, especially when the new school year is approaching, in the context of new textbook prices increasing 2-3 times compared to old textbooks. (See more)
Vietnamese rice prices skyrocket to unprecedented highs
Nearly 3 weeks since India announced an export ban (July 20), the global rice supply has been unstable, and countries are dizzy with this type of food.
This situation has pushed the price of rice on the world market up day by day. Even in Asia, the price of rice has increased to the highest level in the past 15 years. The price of 5% broken rice exported from our country has reached a rare high in history. (See more)
US grants 'visa' to Vietnamese skull coconut
On August 8, the US officially opened its market to Vietnamese skull coconuts. This fruit, which is expected to soon earn 1 billion USD, will be exported to the US market immediately.
In 2022, the export turnover of this item is estimated at about 900 million USD. The opening of the US market and soon the Chinese market will help coconut soon become Vietnam's next billion-dollar export fruit. (See more)
Long Thanh Airport bid package is complained
On August 1, Vietnam Airports Corporation (ACV) announced that the Vietur consortium met the technical requirements for package 5.10. This means that the two remaining consortia, Hoa Lu and CHEC-BCEG-Vietnam Contractors, were eliminated from the bidding process.
Hoa Lu consortium has just filed a complaint against ACV about Vietur consortium being the only unit to pass the technical round.
ACV affirmed that it had done the right thing in evaluating the technical proposal. The Hoa Lu consortium's submission of the proposal did not follow the correct procedure, affecting the reputation of all parties. (See more)
Interbank ATM withdrawal without card
National Payment Corporation (NAPAS) in coordination with banks has just completed the development of an ATM withdrawal service connecting banks using VietQR code (VietQRCash).
With the digitization of physical cards for cashless payments, each person's wallet does not need to be filled with 5-6 cards, instead, all they need is a smartphone. (See more)
Domestic production is at a disadvantage because it is subject to higher taxes than imported goods.
The Vietnam Federation of Commerce and Industry (VCCI) has just issued a document providing comments on the Draft Dossier proposing the development of the Law on Value Added Tax (amended) drafted by the Ministry of Finance.
VCCI believes that domestically produced goods are subject to higher value-added tax than imported goods, causing domestic manufacturing enterprises to continue to suffer losses. (See more)
Ministry of Finance wants to collect emission fees, the budget will have an additional 1,200 billion VND/year
Although there are many types of taxes and fees related to environmental protection, the Ministry of Finance continues to want to collect additional emission fees for the production of iron and steel, inorganic fertilizers, coke, thermal power, cement, etc.
The Ministry of Finance estimates that implementing this policy will add about VND1,200 billion/year to the state budget. This amount of money will help to overcome the air pollution situation in the locality - where the source of pollution is located. (See more)
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