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Official Gazette

Monday, July 13, 2020
Tags: Ministry of Finance
Vietnam wishes to further promote cashless payment Vietnam wishes to further promote cashless payment
The first “Cashless Day” of Vietnam was held on June 16 with a series of events designed to encourage non-cash payment in the country.
Legal framework being improved to implement EVFTA Legal framework being improved to implement EVFTA
Tax policies are being specified while customs procedures simplified to improve the legal framework to facilitate the European Union - Vietnam Free Trade Agreement enforcement.
International football betting via e-wallets and mobile money permitted International football betting via e-wallets and mobile money permitted
Bettors might use bank accounts, e-wallets and prepaid telecoms accounts to pay for their bets on horse and greyhound races and international football matches.
PM targets powerful prosperous status for southern key economic region by 2035 PM targets powerful, prosperous status for southern key economic region by 2035
Prime Minister Nguyen Xuan Phuc on May 30 requested the southern key economic region to strive to become a powerful and prosperous region by 2035, ten years ahead of the deadline for the same goal for the whole Vietnam.
MOF guides tax-related e-transactions MOF guides tax-related e-transactions
Taxpayers could conduct tax-related e-transactions around the clock via the portal of the General Department of Taxation or portals of other competent state agencies that are connected to the GDT’s, says a draft circular designed by the Ministry of Finance.
Shaping a legal framework for cryptoassets in Vietnam Shaping a legal framework for cryptoassets in Vietnam
For the time being, there has been no unified definition of “cryptoasset” or “digital asset” or “virtual asset” in the world. According to the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, “a virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes.”[1] Canada’s model legislation regarding digital assets, the Uniform Access to Digital Assets by Fiduciaries Act, defines “a digital asset” as “a record that is created, recorded, transmitted or stored in digital or other intangible form by electronic, magnetic or optical means or by any other similar means.”[2] Cryptocurrency (or virtual currency) is a form of cryptoassets (or virtual assets). There is also no unified definition of this term in the world.
About 700000 firms to benefit from cut in corporate income tax About 700,000 firms to benefit from cut in corporate income tax
About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 percent from July 1 this year, down from the current rate of 20 percent.
PM approves decree on postponement of tax and land use fee payments PM approves decree on postponement of tax and land use fee payments
Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No. 41/2020/ND-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.
Premier directs removal of difficulties for enterprises amid COVID-19 outbreak Premier directs removal of difficulties for enterprises amid COVID-19 outbreak
The Prime Minister has recently requested implementation of solutions to remove difficulties for production and business so as to ensure social welfare and security in response to the COVID-19 pandemic.
Nation determines to mobilize all resources for economic development Nation determines to mobilize all resources for economic development
By 2025, the percentage of labor working in the agro-forestry-fishery sector will drop below 30 percent of the total workforce nationwide.

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