Vietnam is considering cutting taxes on fuel to help ease prices at all-time highs, but inflation remains under control and helped by domestic food production, its finance minister said on Wednesday.
Vietnam’s finance ministry on Thursday said it would propose to the government a cut in environment tax on fuel, amid soaring energy prices globally.
The COVID-19 pandemic has sparked a boom in e-commerce in Vietnam as consumers shift their spending habits towards online platforms. However, as online sales continue to grow, so does tax evasion.
Hanoi plans to collect toll fees from cars entering downtown areas at up to VND60,000 ($2.65) a time, Hanoi Public Transport Management Center stated.
Hanoi targets Alibaba, Netflix and Amazon with pair of new regulations
Vietnam has applied an anti-dumping and anti-subsidy duty of 33.88 percent on raw sugar from Thailand to protect domestic producers.
Vietnam has imposed anti-dumping duties on 20 cold-rolled steel coil and sheet products from China for five years to protect domestic producers.
Netflix insisted on Wednesday (Nov 11) it was prepared to pay tax in Vietnam after a government minister accused the streaming giant of dodging its obligations to the country.
Foreign streaming companies like Netflix and Apple TV have earned combined revenues of nearly VND1 trillion ($43 million) so far but have not paid any tax on them.
Vietnam is the latest SEA territory to attempt to tax online revenues from digital services, including tech giants like Netflix
Vietnam faces increasing tax evasion and avoidance as policies have not kept up with reality, according to a report by Vietnam Institute for Economic and Policy Research (VEPR) and Oxfam.