This issue of Vietnam Briefing examines ROs - the processes of working with them, and the rationale for either upgrading or closing them. We explain not just how to close up your RO, but also list out the common reasons for doing so. In addition, we include detailed instructions and timelines on how long it takes to upgrade or close up shop.
On April 22, 2013, the Vietnamese Ministry of Industry and Trade (MOIT) issued Circular No. 08/2013/TT-BCT (hereinafter referred to as "Circular 08") regarding the activities of selling goods and related activities by foreign invested enterprises (FIEs) in Vietnam.
Following the relevant customs procedures when importing or exporting goods from Vietnam is one of the most vital aspects of doing business in a country where manufacturing costs are leveraged to its favor.
The Vietnamese Ministry of Finance has issued a new circular which amends its preferential import duties on various commodities. Currently scheduled to be implemented from May 19, 2013.
In an effort to boost investment in Vietnamese businesses and to support struggling enterprises, Vietnamese lawmakers have approved the Government’s proposal to reduce the current general corporate income tax (CIT) rate from 25 percent to 23 percent.
The amendment proposes an expansion of the current PPP laws to cover new sectors including agriculture, offices, culture and the construction of markets. Other changes will result in an additional number of incentives for investors.
