Tax collection from FDI enterprises exceeds yearly estimate

Updated: 18:53, 03/07/2023

(BGO) – For the first six months of this year, the foreign direct investment (FDI) businesses in Bac Giang province has contributed nearly two trillion VND (85.3 million USD) to the budget collection, exceeding 19 percent of the yearly estimate.

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•Vietnam adapts to global minimum tax

The result was gained thanks to joint efforts of competent sectors to facilitate FDI companies through various measures such as restructuring the time to return bank loan, reducing loan interest, instructing business to pay tax online, granting construction license, approving for environmental impact assessment…, hence helping them promptly complete the projects and factories to put in operation and increase the revenue.

The production line at Crystal Martin Vietnam Company Limited in Quang Chau industrial park.

Particularly, many FDI businesses have taken great effort to accelerate the production and highly contribute to local budget.

From now on till the year end, the taxation sector continues reviewing and urging FDI businesses to declare and seriously follow taxation policies as regulation.

Minh Linh

Vietnam should proactively participate in global minimum tax mechanism

The implementation of the global minimum corporate tax will directly affect Vietnam’s efforts to attract foreign direct investment (FDI). With a minimum tax rate of 15% imposed on multinational companies, measures to attract foreign capital through tax incentives will no longer be effective.

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9 out of 15 tax revenues increase year on year

(BGO) – According to the Taxation Department in Bac Giang province, till the end of February 2023, nine out of 15 tax revenues represented year on year increase.

Budget revenues from taxes up 16.7% in two months

The tax sector collected an estimated 325.78 trillion VND (13.73 billion USD) for the State budget in the first two months of 2023, a year-on-year rise of 16.7%, and equivalent to 23.7% of the yearly estimate, the General Department of Taxation has reported.