The number of tax companies in Hanoi has reached saturation point and no more firms will be licensed from 2012, an official has said.

The Ministry of Transport has suspended the operations of two taxi firms during spot-checks on four companies in Hanoi.

Nearly 90% of foreign invested companies questioned by the Ministry of Finance reported losses between 2007 and 2009.

The NA Finance and Budget Committee suggested further corporate income tax cuts to 20 percent, the chair of the committee told Saigon Tiep Thi newspaper.

Asia-Pacific leaders representing more than half of the global economy committed Sunday to cutting tariffs on environmental goods.