Prime Minister Nguyễn Xuân Phúc on Wednesday approved Decree No 41/2020/NĐ-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.

The decree took effect immediately.

The extension would be five months from the deadline for payments.

Stores on Lương Văn Can Street, Hà Nội half close their doors, only serve take-aways or online orders due to the impact of COVID-19. Businesses now enjoy a five-month extension for tax and land use fee payments. — VNA/VNS Photo Ngọc Hà

Accordingly, businesses operating in agro-forestry-fishery, food processing, textile, garment and construction industry would enjoy the extension, besides those operating in transportation, warehouse, accommodation and catering, education, medical services and part-supply industry.

Others subject to the extension included small and micro – sized enterprises and credit institutions and branches of foreign banks which provided support to their customers who were hit by the COVID-19 pandemic following the requirements of the State Bank of Việt Nam.

The State Bank of Việt Nam would be in charge of announcing the list of eligible banks for the extension.

The five-month extension would be given to value added tax (VAT) of the assessment periods of March, April, May, June, the first quarter and the second quarter. As a result, the payment of VAT of March assessment period would be extended to September 20 while of second quarter assessment period to December 20.

For corporate income tax (CIT), extension would be given to the remaining sums of 2019, provisional tax of the assessment period of the first and the second quarter.

For household and individual businesses, the deadlines for paying VAT and CIT was extended to December 31.

Payment of land use fees would also extended five months from May 31.

The decree also allowed businesses operating in multiple sectors, one of which was subjected to the extension, would also enjoy the extension for all payable VAT and CIT.

The Ministry of Finance estimated that a total of VNĐ180 trillion worth of taxes and fees would be extended. Still, the sum would still be collected to the State budget within this year.

Taxpayers must submit a proposal to the tax management agencies before July 30 to be given the extension.

According to the finance ministry, more than 700,000 enterprises or 98 per cent of firms would be given the extension. — VNS

Each kWh of electricity will increase by nearly VND 144 to the average of more than VND 1,864 from March 20th, 2019

Specifically, the average electricity selling price will increase from VND 1,720.65 to over VND 1,864 per kWh (not included VAT). This Decision has just been signed and will come into force from March 20. This increase has been agreed by the Government. Previously, the Government also met with the Ministry of Industry and Trade and related ministries and agencies to discuss about raising electricity selling prices. So after more than 2 years having stayed at the same rate, the average retail price of electricity is adjusted to increase.

Vietnam raises its electricity prices by 8.36 percent on March 20, 2019. Photo by VnExpress

Earlier in March, the Ministry of Industry and Trade informed about the expectation to adjust electricity price at the end of the month.

“If the input costs are fully calculated, this adjustment must be at nearly 10%, but taking the macro factors into consideration, an increase of 8.36%, is used” said a Deputy Minister of Industry and Trade.

According to the Prime Minister’s Decision 24, electricity prices currently have had many different frames and rates for each customer group.

Regarding the impact on growth and the consumer price index (CPI), Ministry of Industry and Trade and General Statistics Office calculated that with an increase of 8.36% in electricity price, it will reduce by 0.22% of GDP and consumer price index (CPI) will increase by 0.29%.

Source: VnExpress

In the morning of 2 February 2020, Viglacera Corporation – JSC held a briefing to evaluate results of the production and business plan commenced in February 2020, and to launch business and production plan in March 2020.

The evolution of Covid-19 influenza epidemic has made a negative impact on production and business activities of the whole market recently, which also leads to a direct consequence of affected business results in February of Viglacera Corporation, for instance, Manufacturing factories suffer from insufficient input materials; export activities meet difficulties.

Despite the adverse circumstance, in the February and first 2 months of 2020, Real Estate sector of the Corporation surpassed the February plan and the accumulated profit in the first 2 months increased by 10% compared to the previous period. Industrial infrastructure leasing business is still a highly effective field of Real Estate Department in the first 2 months.

Delivering a leadership speech at the briefing, General Director Nguyen Anh Tuan directed the Corporation to stick to goals of March and the first Quarter plan of 2020, focus on solutions in management activities. Directors and officers shall be present at subsidiary units to engage themselves in problem-sovling and be proactive before all market developments in the near future.

In March, apart from deploying business and production plans in units in accordance with available plan, the Corporation also concentrated on implementing important works such as organizing Employees’ Meeting at units and holding the annual General Meeting of Shareholders 2020 in joint stock companies, preparing for the General Meeting of Shareholders of the Corporation in April 2020.

The whole Corporation focuses on following targets of production and business plan in March, the first Quarter of 2020; Assigning specific and clear tasks for each officers to ensure timely progress and quality of works under functions and duties of their respective departments and divisions; Reporting timely difficulties and obstacles to pinpoint solutions to ensure achievements of goals and progress as expected; Continuing to take preventative anti-epidemic measures in all units and Parent Company Office.

Viglacera launched the tree planting Movement for New Year of 2020 and ground breaking for office building in Yen My Industrial Park – Hung Yen

On January 31, 2020, the 7th day of Canh Ty Year, in the atmosphere of early spring and full of vitality, Viglacera Corporation holds an movement: “Tree planting for new year of 2020 and ground breaking for office building in Yen My Industrial Park – Hung Yen ” in Yen My Industrial Park, Yen My district, Hung Yen province.

During his lifetime, President Ho Chi Minh taught: “For a sake of ten years, a tree must be planted, for a sake of hundred years, a man must be educated”. Inspired by his philosophy, the leaders and all employees of Viglacera Corporation are always aware that planting trees and protecting the environment are important jobs which go closely with the comprehensive development process of the Corporation, contributing to the sustainable development of the industrialization and modernization of the country.

Yen My Industrial Park Project – the project was approved by the Prime Minister on May 30, 2018 with an area of 280 hectares and total investment of VND 2,348 billion, it is divided into 5 phases, granted with the investement certificate by the Management Board of Hung Yen Industrial Parks on July 30, 2018 and scheduled to complete the investment in technical infrastructure in the second quarter of 2023. The project is of great significance for local socio-economic development and expected to contribute to the industrialization and modernization of the country with the spirit of solidarity and strong will. This will be a modern, synchronized and environmentally friendly Industrial Park, in which the system of trees and grass will be a highlight to create a green and environmentally friendly landscape.

Mr. Nguyen Anh Tuan – Director of Viglacera’s Industrial Zone Development Joint Stock Company makes a speech to introduce the project in Yen My – Hung Yen

Currently, Viglacera is actively implementing Phase 1 to level about 90ha of land and constructing technical infrastructure along with the set schedule and quality assurance, on the other hand, it is also accomplishing procedures to build a clean water plant and waste water treatment plant by 2020.