Fees and charges make up growing shares in Vietnam state budget revenue
Such increases have created a burden on the citizens, while multinationals are taking advantage of Vietnam’s incentive policies to avoid taxes.
Such increases have created a burden on the citizens, while multinationals are taking advantage of Vietnam’s incentive policies to avoid taxes.
Vietnam should take stronger measures related to origin of goods and products to avoid risks of lawsuits or being taken advantage of by other countries to evade US import tariffs.
Multinational companies have more favorable conditions in exercising tax avoidance, and to a larger extend, tax evasion, compared to their peers in the state and private sectors.
Vietnam’s informal sector, accounting for an estimated 25 – 30% of GDP, is among the groups hardest hit by the pandemic, but not included in GDP calculation.
The Covid-19 pandemic could prompt Vietnam to move forward in the digital economy.
Higher inflationary pressure, unstable crude oil and gas prices from geopolitical tension and the ongoing US – China trade war are among major risks to Vietnam’s economy this year.
Vietnam could get rid of its most large tax incentives without harming its growth or competitiveness, said an Oxfam expert.