Experts’ reactions to MoF tax plan mixedExperts’ reactions to the Ministry of Finance’s (MoF) tax adjustment draft have been mixed, while the business community struggles to keep up with the variety of proposed tax hikes. Taxpayers wait for completion of tax procedures at the Hanoi Tax Department. Since 2017, the MoF had repeatedly proposed amendments to current tax law towards increasing the number of tax rates. He said the amendments of VAT, special consumption tax, corporate income tax, personal income tax, natural resource tax and export-import tax, would involve 30 different kinds of minor taxes, and they were all rising. Therefore, the MOF will and must amend a number of tax laws, though they had proved to put great pressure on the public, said Phung.

Source: VietNamNet News May 14, 2018 04:41 UTC