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According to Dr. Phan Hoai Nam, the barrier is not capability but fear: fear of filing full tax declarations, fear of keeping proper books, fear of being audited from the very first day of conversion. The "Compliance Sandbox" mechanism Dr. Nam proposes would create a supported transition period, giving household businesses the space to learn, to try, and to grow steadily into the business environment rather than facing the full weight of compliance all at once. Because what Vietnam needs is not simply more businesses in number, but businesses that are genuinely built to last.
The Ministry of Finance is currently seeking public comments on a draft decree regulating the decentralization and delegation of state management authority in the field of taxation and tax administration.
This draft decree responds to the directives of the Government and the Prime Minister regarding the implementation of the Law on Government Organization and the Law on Local Government Organization. It also aims to promptly promote decentralization and delegation in several prioritized and urgent areas within the tax and tax administration sector.
Haiquanonline (haiquanonline.com.vn)
Currently, some small traders and business owners in Ho Chi Minh City are expressing concerns about being “taxed” when using bank transfers as a method of payment, leading them to prefer cash transactions instead.
Resolution No. 68-NQ/TW of the Politburo on the development of the private economy marks a historic turning point and a profoundly breakthrough milestone in Vietnam's economic development journey. This was shared by Lawyer Dr. Phan Hoai Nam – CEO of W&A Consulting, Lecturer at the Judicial Academy, and Fellow Member of the Association of Chartered Certified Accountants (FCCA, UK) – in an interview with the Journal of Finance and Economics regarding Resolution No. 68 recently issued by the Politburo.
Responding to TBTCVN reporter, Lawyer, PhD. Phan Hoai Nam - a member of the Association of Chartered Certified Accountants (ACCA) and the British International Tax Association (CIOT), said that issuing electronic invoices to customers after each gasoline sale brings many benefits. beneficial for both customers and businesses, especially petroleum businesses. Electronic invoices help increase accuracy and transparency in accounting management. Through e-invoices, businesses can automatically record and store transaction information accurately and effectively, helping to manage and control fuel costs more effectively.
Lawyer Phan Hoai Nam - tax consultant and tax lecturer of the ACCA training program and the Academy of Justice, said that applying the global minimum tax is not only an important step in optimizing Vietnam's taxing rights but also brings many positive economic impacts and enhances Vietnam's position in international relations.