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Deposit growth of residents at credit institutions in the first four months of this year was only 2.34%. This is the 5th year in a row that this growth rate has tended to be lower. According to experts, the deposit growth of the population in the banking system recorded a much lower rate than in previous years, partly due to low deposit rates.

Contrary to the low growth trend of bank deposits from the people, the cash flow and the number of individual investors participating in the stock market from 2020 to now have increased dramatically. In addition to stocks, which have increased by nearly 23% since the beginning of the year, VNDirect’s report shows that housing prices have increased on a large scale since the beginning of the year.

In addition to the cash flow movement, experts at SSI Research also believe that the low growth of residents’ deposits may be due to the initiative of banks to reduce the gap to narrow the difference with loan balances, ensuring their high fertility.

According to

https://vietnamnet.vn/vn/kinh-doanh/tai-chinh/tien-gui-ngan-hang-giam-747261.html.

Documentary Editorial Board, DBRC, Dong Du International Accounting & Legal Consulting Group Vietnam

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From 2019 to the end of 2021, the Ministry of Finance prepares necessary conditions for the implementation of the scheme, such as: Issuing a Circular guiding the application of IFRS and publishing the translation of IFRS from English to Vietnamese; developing and issuing professional guidance documents for IFRS implementation; supplement, amending and issuing new financial mechanism related to the application of IFRS…

After that, the implementation process will consist of 2 phases. Phase 1 (Voluntary phase) 2022-2025, Vietnamese Governance persuades the parent companies of a large-scale state economic group or having loans sponsored by international financial institutions, the listed parent companies, unlisted large-scale public parent companies and other parent companies voluntarily  applying IFRS to prepare consolidated financial statements. Here, the enterprises with 100% foreign direct investment capital voluntarily apply IFRS to prepare separate financial statements.

Phase 2 (Required period) from after 2025, the consolidated financial statements officially will apply to the state economic parent companies, the listed parent companies, and the unlisted large scale parent companies.

According to https://tapchitaichinh.vn/

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In the first months of 2021, after the impact of the Covid-19 epidemic in 2020, in the Vietnamese market, mergers, consolidation, and revaluation of assets when contributing capital and transferring capital increased, increasing revenue and the final certain result coming that corporate income tax suddenly increased at VND 5,000-6,000 billion.

At the same time, implementing a policy of reducing registration fees by 50% for domestically manufactured and assembled cars until the end of December 31, 2020, resulting in strong consumption of domestically manufactured and assembled cars. Particularly in December 2020, the number of cars consumed doubled over the same period, resulting in a sudden increase in corporate income tax of about 4,000 billion VND over the same period.

The hot growth of the stock and real estate markets in the first months of 2021 also contributed to the increase in income from real estate registration fees and personal income tax from capital transfers, securities transfers and real estate transfers.

According to https://cafebiz.vn/

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