Billionaire Pham Nhat Vuong is in the top 100 richest people, his son is the CEO of VinMetal

Billionaire Pham Nhat Vuong is in the top 100 richest people on the planet, his son is the CEO of VinMetal; the Ministry of Finance is calculating to increase tax-free revenue for business households; Coca-Cola is still being charged over 821 billion in back taxes... are notable economic news of the past week.

Billionaire Pham Nhat Vuong has 23.6 billion USD, in the top 100 richest people on the planet

With the sharp increase in Vin stocks, the value of Vingroup Chairman Pham Nhat Vuong's assets has also increased. As of November 28, according to Forbes, Mr. Vuong has 23.6 billion USD, ranking 97th in the world.

This is the first time Mr. Vuong has officially entered the top 100 richest people on the planet. Previously, on November 25, Mr. Vuong also entered the top 100 but only for a short time.

Vingroup's capitalization also exceeded 1 quadrillion VND, equal to the three banks Vietcombank, VietinBank and BIDV combined.

Billionaire Pham Nhat Vuong's son becomes CEO of VinMetal, Mr. Do Tien Si returns to Pomina

Vingroup Corporation (VIC) on November 25 announced information on cooperation and support for Pomina Steel JSC (POM) and personnel changes at two large-scale steel enterprises.

Accordingly, Mr. Do Tien Si will return to manage Pomina Steel, leading the recovery and development strategy of the enterprise in the new period.

The position of General Director of VinMetal was transferred to Mr. Pham Nhat Quan Anh, son of billionaire Pham Nhat Vuong, to ensure continuity in Vingroup's metallurgy development strategy.

State Bank requests urgent support for customers affected by storms and floods

The State Bank of Vietnam (SBV) has just issued Official Dispatch No. 10328 requesting credit institutions, foreign bank branches (TCTD) and SBV branches in regions (8, 9, 10, 11) to continue to deploy and implement solutions to support and remove difficulties for customers in areas in the Central region affected by floods (additional Khanh Hoa, Gia Lai, Dak Lak , Lam Dong).

Previously, credit institutions also committed to reducing up to 2%/year in lending interest rates for existing outstanding loans of people and businesses in areas damaged by natural disasters.

Mailisa Beauty Salon suddenly announced the suspension of the entire system.

On the evening of November 27, on its Facebook page with 2.8 million followers, Mailisa Beauty Salon announced that it would temporarily suspend operations from November 28.

Previously, on November 21, the Police Department investigating crimes of corruption, economics, and smuggling prosecuted and arrested

Notice of Mailisa Beauty Salon. Screenshot

Court dismisses lawsuit, Coca-Cola still has to pay back tax of more than 821 billion

On the morning of November 27, the Ho Chi Minh City Court dismissed Coca-Cola's lawsuit, upholding the decision to collect and impose a fine of more than VND821.4 billion from the Tax Department (formerly the General Department of Taxation), according to official information from the tax agency.

The lawsuit arose from the tax authority's decision to collect and impose penalties on Coca-Cola, on the grounds that the company did not declare and fulfill its tax obligations in accordance with regulations, and continuously reported losses for many years.

The tycoon gives up the 'money-burning' game, Vietravel Airlines waits for rebirth under the new owner

Once holding 100% of the capital and being the 'father' of Vietravel Airlines, Vietravel decided to withdraw all of its ownership in this airline after a long period of losses. The divestment will be completed before December 31, 2025, paving the way for the airline to comprehensively reposition itself.

After Vietravel divested, the shareholder structure at Vietravel Airlines includes T&T Airlines, T&T SuperPort, BVIM Fund and other individual shareholders.

Ministry of Finance calculates to increase tax-free revenue for business households to 500 million/year

The Ministry of Finance has just issued a report on receiving and explaining the opinions of the National Assembly deputies on the draft Law on Personal Income Tax (amended).

The Ministry of Finance proposed to adjust the tax-free revenue from 200 million VND/year to 500 million VND/year. At the same time, this 500 million VND/year is also the amount deducted before paying tax according to the rate on revenue.

The Ministry of Finance has proposed a mechanism to calculate personal income tax for business households based on income. Experts consider this a reasonable direction, but note that if the tax rate is not appropriate, it will "eat into profits", causing difficulties for business households.

Regarding tax for business individuals, according to the current Personal Income Tax Law, the revenue level not subject to personal income tax is 100 million VND/year or less, this level is being applied uniformly with value added tax of business households and individuals.

In the process of finalizing the draft Law on Personal Income Tax (amended), the Ministry of Finance proposed to lower two important tax rates and readjust the tax brackets. The new tax schedule is assessed to help reduce the tax burden for all current taxpayers.

Thousands of billions of dong are stuck due to VAT: Ministry of Finance proposes amending the law on 3 issues

The Law on Value Added Tax (VAT) was passed by the National Assembly on November 26, 2024 and will take effect from July 1, 2025. However, in response to feedback and recommendations from the Ministry of Agriculture and Environment, associations, and businesses, authorized by the Prime Minister, the Minister of Finance signed a report to the National Assembly and the National Assembly Standing Committee to consider amending and supplementing a number of articles of the law to remove tax refund bottlenecks, helping to unblock capital sources for businesses.

Notably, this draft law brings back the regulation that VAT does not have to be declared and paid, but input VAT can be deducted for products of crops, planted forests, livestock, aquaculture, and fishing that have not been processed into other products or have only undergone normal preliminary processing and are bought and sold at the commercial stage.

Vietnamnet.vn

Source: https://vietnamnet.vn/ty-phu-pham-nhat-vuong-lot-top-100-nguoi-giau-nhat-con-trai-lam-ceo-vinmetal-2467936.html