More News, Rumors and Opinions Thursday Night 5-20-2021
KTFA:
Samson: The Director General of the General Tax Authority reveals the benefits of the digital system
20th May, 2021
The Director General of the General Tax Authority, Shaker Mahmoud Al-Zubaidi, revealed today, Thursday, the benefits of the digital system for Al-Arasat tax.
Al-Zubaidi said in a statement received by Alsumaria News, "A digital system for Al-Arasat tax will be implemented soon," indicating that "the tax will be archived to eliminate the paper system."
He added that "the benefit of the digital system is to end cases of tax evasion, preserve tax revenues and end cases of taxpayers extortion," noting that "the digital system that was linked with the real estate registration departments contributed to eliminating fraud, maximizing revenues and helping to collect taxes in the correct manner."
The digital system has ended bureaucratic procedures and facilitated administrative procedures," the statement stressed. And he added, "With direct follow-up by the Prime Minister and Minister of Finance, the digital system was implemented and met with wide approval and acceptance by the higher government agencies."
He concluded by saying: "The digital system was applied in the largest branches Baghdad “Markaz’s Karkh tax - and Karrada branch tax” and after this impressive success that has been achieved, it will be implemented in 43 tax branches in the next few days. LINK
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Samson: Moody’s may upgrade VPBank’s ratings - Vietnam
20th May, 2021
Moody’s Investors Service has announced that it is considering upgrading a series of important ratings for VPBank.
Moody’s is considering upgrading the bank’s long-term local and foreign currency deposits and issuer ratings (currently at B1 with a stable outlook), baseline credit assessment (BCA), long-term counterparty risk rating and many other important ratings relating to credit and risk control.
In the first quarter of the year, VPBank achieved positive business results, surpassing its targets.
By the end of March, its total integrated assets exceeded VNĐ436 trillion, up 4.1 per cent from the same period last year. Its consolidated credit growth increased by 2.8 per cent from the corresponding period last year to reach VNĐ332 trillion.
The strong credit growth was led by strategic segments of individual customer and small-and-medium enterprises (SMEs) with year-on-year increases of 7 per cent and 11 per cent respectively. Its pre-tax profit reached VNĐ4 trillion in January-March. This was the first time the bank achieved this level in the first quarter of a year.
With revenue diversification, reasonable credit growth, minimising capital costs and optimising operating costs, VPBank's total consolidated pre-tax profit in the first quarter of 2021 has grown strongly at 37.6 per cent over the same period last year. With this result, the bank's performance indicators as of March 31 continued to be improved and ranked at the top of the market, with return on asset (ROA) and return on equity (ROE) reaching 3 per cent and 23.5 per cent respectively.
VPBank also signed an agreement to sell a 49 per cent stake in FE Credit to Japan’s Sumitomo Mitsui Finance Group (SMFG) in a transaction that values the non-bank lender at US$2.8 billion.
The investment would help VPBank enhance its financial capacity and create opportunities to expand new business areas such as investment banking and wealth management. The bank plans to increase its equity from the current VNĐ56 trillion to VNĐ90 trillion as well as increasing charter capital to VNĐ75 trillion in 2022 thank to the profit from divestment from FE Credit.
If the capital increase plan is successful, VPBank will be among the top Vietnamese banks with the largest equity and chartered capital.
At its general meeting of shareholders held at the end of April, the bank set a total asset target of VNĐ490 trillion, increasing 17.5 per cent, and customer deposits at 19.2 per cent to more than VNĐ350 trillion. Its pre-tax profit is expected to increase by 27.9 per cent to more than VNĐ16.6 trillion. LINK
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Courtesy of Dinar Guru
Frank26 Something is happening with the Vietnamese dong...I would advise you to watch their central bank...pay attention to their GDP [Gross Domestic Product]. The GDP is a determinant of what the value of their currency could be...Something has happened with the Vietnamese dong inside of Vietnam...notice what's going on with their stocks. And I want you to notice what's going on with their imports and exports...
Walkingstick & Frank26 The Iraqi Stock Exchange and Erbil Stock Exchange...linking up internationally. I thought they were already? No, the currency is traded...but they are not linked up to the other banks...that's something you should be looking for probably this coming week. Articles about the ISX and ESX. Usually when we tell you something the following week [you see it in articles]...
15 Lessons Rich Parents Teach Their Kids That The Poor Don’t
In this Alux.com video we'll try to answer the following questions:
What do rich people teach their kids?
What should my kids learn to be successful in life?
What should I teach my kids?
What are kids supposed to learn to be happy ?
What do children need to learn to be successful in life?
Do kids need to learn about money?
Are children supposed to learn how money works?
Should I teach my kids about assets and liabilities?
Should my kids learn about buying a car and a house?
Why are kids so entitled?
Should children learn how to be sociable and connect with others in school?
Should children learn about mental faculties in school?
Do children need to learn about habits in school?
What's the difference between knowing and doing?
How are children going to get rich in the future?
Should my kids go to school?