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Vietnam Urged To Hike Indirect Taxes, Broaden Tax Base

by Mary Swire, Tax-News.com, Hong Kong

06 July 2017


Vietnam should unify value-added tax (VAT) rates, increase excise and environmental protection taxes, and introduce a property tax, the International Monetary Fund (IMF) has said.

It said that higher environmental taxes can "help promote a green, more resilient economy."

The IMF also said that country needs to reduce exemptions and incentives and improve tax administration processes.

"A review of tax expenditures, especially incentives, should be conducted," the IMF said "The tax incentive regime appears generous and primarily benefits large corporations but not SMEs – domestic and foreign."

The country should also consider "taxing land transactions and better capturing revenues from state land sales to fund infrastructure investment," the IMF said.

TAGS: environment | tax | investment | property tax | International Monetary Fund (IMF) | environmental tax | Vietnam

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