Vietnam - Nearly 2,000 enterprises revived

VietNamNet Bridge – In June and July 2012, nearly 2,000 companies resumed their operation, Deputy Minister of Finance Do Hoang Anh Tuan told the media recently.

According to the Ministry of Finance, the number of companies that earned profit in the first quarter of 2012 increased by 2.4 percent and over 2.8 percent in the second quarter. The number of enterprises that declared VAT in July grew by 5.3 percent over June 2012.

Tuan said that by the end of June, the Finance Ministry relaxed payment of corporate income tax and VAT for nearly 100,000 companies, totaling about VND11 trillion.

“The zero percent of credit interest rate in the first half of 2012 has partly contributed to reducing inventory goods from 36 percent to 24 percent,” Tuan added.

July 2012 was also the time the Finance Ministry began cutting down 30 percent of corporate income tax for small and medium-sized enterprises and labor intensive firms, totaling around VND3.6 trillion.

Regarding to the extension of collecting land use right fee, enterprises in difficulties have enjoyed land use right fee extension worth VND1.6 trillion.

$1=VND20,800

VNeconomy

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