Vietnam 

Hoa Sen says not to be affected by US anti-dumping tax – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A production line at a Hoa Sen plant. — Photo Courtesy Hoa Sen Group HCM CITY — Steel maker Hoa Sen Group has said its business will not be affected by the US Department of Commerce’s preliminary ruling on the circumvention inquiries it made into Vietnamese cold-rolled steel and corrosion-resistant steel exports. In a release late on Wednesday, the company’s deputy general director, Vũ Văn Thanh, said: “Hoa Sen used materials from Việt Nam or materials which did not originate in Taiwan or RoK for making products to export to the…

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Home 

Wealthy financial markets must start to pay their way to help the poor, and a global ‘Robin Hood’ tax is the way to do so

The world is crying out for a radical rethink on better ways to bolster global growth, redress income and wealth imbalances and improve the future for all mankind. The major industrial countries have enjoyed a disproportionate share of global economic success for far too long, with less-privileged economies falling further behind the curve.The need for sweeping change is long overdue and a global financial transactions tax, or FTT, may be one way to redress the balance. It is time for wealthy… Source link

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Home 

Sugar tax and other punitive measures won’t help Malaysians become healthier

The Malaysian government is justifiably concerned about obesity levels in the community but it is difficult to see how the implementation of a sugar tax in the country from July 1 will address this issue. In the absence of an effective public health education framework, the obese are likely to continue to seek out untaxed sweet drinks and desserts to satiate their needs.A tax of 40 sen (10 US cents) per litre will be implemented on all packaged drinks that contain sugar and other sweeteners in… Source link

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China 

Beijing’s move to keep tax break on purchases of new-energy vehicles to support troubled auto sector, help biggest players

A move by Beijing to keep a sales tax break on environmentally friendly cars to help the sputtering auto sector will boost the fortunes of top domestic EV manufacturers as well as the popular Tesla from the US over smaller players, analysts say.Beijing had been widely expected to scrap the sales tax break, but the Ministry of Finance announced on Friday it is extending it. A change had been expected to go into effect Monday, but buyers battery-powered and plug-in hybrid cars will still be… Source link

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Home 

Italy woos wealthy global investors with resident scheme that caps tax on global income at €100,000, abandons property ownership requirement

Italy’s new residency programme designed to attract wealthy foreign investors without exposing them to progressive income tax on global earnings is expected to draw an increasing number of applications this year, as awareness of the scheme, and the benefits of owning or renting central European property become more widely known, according to experts. The New Resident Regime, unveiled by Rome in 2017, charges an annual flat tax of €100,000 (US$114,000) on worldwide income, plus an additional … Source link

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China 

India plans to offer tax breaks to companies moving away from China as trade war forces the world to rethink supply chains

India is weighing offering incentives to attract companies moving out of China amid its trade war with the US, a person familiar with the development said.Financial incentives such as preferential tax rates and the tax holiday provided by Vietnam to lure companies are among measures being considered, the person said, asking not to be identified as the discussion is still private. Industries identified for incentives include electronics, consumer appliances, electric vehicles, footwear and toys,… Source link

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Money 

Chinese, US finance chiefs find common ground on need to reform global tax rules

While China and the US are at loggerheads over trade and technology, their finance chiefs on Saturday found some common ground on the need to reform global tax rules to cope with digitalisation and the rise of e-commerce.Speaking at a symposium on taxation during the Group of 20 finance leaders’ meeting in Fukuoka, Japan, Chinese Finance Minister Liu Kun said the international community needed to work together to tackle the challenges brought by the digital economy, rapid growth of information… Source link

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Vietnam 

FDI enterprises in massive tax arrears – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Enterprises complete customs procedures. HCM City has listed businesses that have not paid huge tax debts. — Photo cafef.vn HCM CITY — The HCM City Depatment of Customs has listed 1,000 businesses that have not paid tax worth trillions of đồng, including foreign direct investment (FDI) firms. Some of the companies were well in arrears, such as NIVL Joint Stock Company that owed VNĐ150 billion (US$6.45 million), excluding penalties for late tax payments over a number of years, the department said. The FDI firm received its investment licence in 1998, but the owner had left the…

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Vietnam 

Online tax payment a boon to import-export businesses – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — Around 99 per cent of import and export tax payments in HCM City are made online, according to the customs department. Switching to online payment has reduced work for customs officers and helped businesses save time and cost. According to the State Bank of Việt Nam, promoting online payment for public services is one of the goals of the Government. Lê Thanh Minh, an employee of a transportation company, said import and export procedures at customs offices have become easier and faster than before thanks to non-cash…

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Vietnam 

Shared database needed to fight tax loss in e-commerce – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Officials and experts have suggested the development of a shared database, on which tax and customer agencies and banks work together to collect taxes from online sellers. – Photo thehekhoinghiep.com HÀ NỘI – There should be a shared database of online sellers to make sure tax collection in e-commerce activities is sufficient, officials have said. A shared database was necessary because there is no specific measure to calculate revenues, sales and expenses of organisations and individuals selling goods and services online, according to the Ministry of Industry and…

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