Fashion
Vietnam defends tax transparency after EU terms it non-cooperative
Vietnamese Ministry of Foreign Affairs spokesperson Pham Thu Hang said that throughout the OECD’s peer review process, Vietnam actively incorporated feedback and recently updated many legal documents on taxation, finance and corporate governance, including the Law on Tax Administration, the Law on Enterprises, and Decree No. 168/2025/ND-CP on corporate management.
After the EU added Vietnam to the list of non-cooperative jurisdictions for tax purposes following an OECD peer review on the exchange of information on tax rulings for the 2021-2023 period, Vietnam defended its tax transparency record.
Throughout the peer review process, Vietnam incorporated feedback and has updated many legal documents on taxation, finance and corporate governance, it said.
These have helped improve the compliance with international standards for transparency and information exchange, she was cited as saying by domestic media reports.
Vietnam is now formulating and implementing a national action plan to address recommendations from the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes. It is concurrently strengthening tax cooperation with international partners, including the EU, Hang added.
Fibre2Fashion News Desk (DS)
Knitted apparel (HS **) imports rose to NZ$*.*** billion (~$***.** million) in **** from NZ$*.*** billion in ****, up *.* per cent. However, volumes declined to ***.* million units from ***.* million units, indicating higher average unit prices and tighter inventory management by retailers seeking to avoid overstocking. In contrast, woven apparel (HS **) imports were largely flat at NZ$***.* million, marginally higher than NZ$***.* million a year earlier, while volumes increased to **.* million units from **.* million units, suggesting relatively stronger demand in certain non-knitted categories.
Textile fabric imports under HS ** recorded robust expansion. Imports climbed to NZ$**.** million in **** from NZ$**.** million in ****, a rise of **.* per cent. Volumes surged to ***.** million square metres compared with **.** million square metres in the previous year, pointing to stronger demand for intermediate textile inputs. This may reflect increased local processing activity, product diversification, or stock-building by manufacturers amid supply chain adjustments.
Exporters can submit their applications until June 30, according to a circular by the Banking Regulation and Policy Department (BRPD) of the central bank. The circular is effective immediately.
Bangladesh Bank yesterday extended the deadline for raw jute exporters to apply for loan rescheduling to back businesses facing liquidity issues and help regularise defaulted loans.
Exporters can submit their applications until June 30.
The extension aims at safeguarding the interests of exporters and ensure the continued dynamism of the country’s export trade, the central bank said.
Earlier, exporters were required to apply by December 31, 2025, by making a down payment or a one-time deposit of 2 per cent of their existing loan as of December 31, 2024.
Several were unable to meet the deadline due to complications in both global and domestic export markets.
Under the revised directive, customers can apply to the concerned bank by depositing 2 per cent of their defaulted (classified) loan balance, according to domestic media reports.
The extension aims at safeguarding the interests of exporters and ensure the continued dynamism of the country’s export trade, the central bank added.
Fibre2Fashion News Desk (DS)
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