Vietnam State Budget and Tax actions in 2016.
Although the significant decrease in crude oil prices in 2015 adversely impacted the Vietnam State Budget, the Ministry of Finance’s data reveals that the total State Budget revenue in 2015 still exceeded the budgeted revenue by nearly 8%. The increase in revenue stems predominantly from more aggressive and expanded tax audits (particularly transfer pricing), increased recovery of tax debts, and the crafting of new tax policies designed to increase tax revenue.
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