The decree on tax reduction to foster economic recovery approved by the National Assembly will also make expenses on pandemic prevention deductible.

An employee counts Vietnamese banknotes at a bank in Hanoi.

The VAT cut will lead to a loss of some VND49.4 trillion (over $2.1 billion) in revenues, according to the Ministry of Finance.

The deductible expenses will lead to a loss of VND2 trillion.

The lower VAT rate will not apply to telecommunications, information technology, financial activities, banking, securities, insurance, real estate, metal and prefabricated metal products, mining (excluding coal), coke, refined petroleum, chemicals and chemical products, and goods and services subject to excise tax.

Bac Giang establishes Center for supporting real estate investment and business

(BGO) - The Real Estate Association of Bac Giang province launched the Center for supporting real estate investment and business on January 14.

Yen The supports production and sale of livestock products

(BGO) - Livestock products of Yen The district (Bac Giang province) are quite diverse, with hill chickens holding the majority. The 2022 Lunar New Year is approaching, anticipating difficulties caused by the epidemic, from December 2021, the district People's Committee has directed specialized units to actively support the livestock production and sale.

Supermarkets support farmers to sell dragon fruit

Central Retail’s supermarket chains Big C, Tops Market and Go! have launched a programme to support farmers in southern provinces such as Binh Thuan and Long An, to sell their dragon fruit

Portal launched to support business community

A business information portal was launched on December 23 with a view to helping address difficulties faced by enterprises, assisting policymaking, and proposing support measures for the development of businesses.

Bac Giang supports to invest in machine, package, label and stamp for origin traceability

(BGO) - Implementing the Project “Building and developing commodity farm produce at provincial level in period 2019 - 2021”, Bac Giang province has mobilized more than 6.1 billion VND (265,700 USD) from state budget and counterpart capital of business and cooperatives to buy machine, package, label and stamp for origin traceability, reported the Department of Industry and Trade.

Source: VnExpress