Hanoi urged to prioritise airport rail line A section of the Cat Linh-Ha Dong Line Research contest launched to improve labour policies The contest’s research findings are expected to facilitate the formation and implementation of labour policies. Vietnam needs to cut recurrent spending to ensure healthy budget In the first quarter of 2018, regular spending accounted for more than 76% of total expenditure. The Ministry of Finance (MOF) has recently proposed raising a number of taxes such as the environmental protection tax and the value added tax. One of the reasons cited by the MOF for the proposed tax hikes is to restructure the state budget to ensure that the nation’s finances are safe and sustainable. The effort will focus on fine-tuning the tax policy and expanding the tax base, especially new sources of revenues in line with international practices. As revenues from international trade activities are declining due to tariff cuts as a result of free trade agreements, the search for new sources to offset the shortfall is a necessary and urgent task. However, a budget has to cover both revenue and spending. Measures to increase revenues are being proposed and implemented aggressively while those aimed at restructuring expenditure… Read full this story
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