Known as the “Lone Star State”, Texas is the second largest American state and the second most populous. The ten nations that make up ASEAN are becoming increasingly important trade partners for Texas. Vietnam, in particular, is playing a growing role in Texan trade. In this article we take an in-depth look at this blossoming trade relationship between Texas and Vietnam.
As Vietnam continues to attempt to build up its domestic auto industry, the Ministry of Finance has announced that it has drafted a plan to increase the special consumption tax (SCT) on imported cars by changing the basis on which the tax is calculated. The Vietnamese government has been concerned that the current method of SCT calculation has resulted in a competitive advantage for importers – the new method seeks to correct this imbalance.
In Vietnam, an official company seal or chop is used for legally authorizing documentation. A seal gives legal validity to any documents or papers issued by companies, organizations or agencies.
Squawkonomics have developed new economic metrics that would better explain the economic phenomenon encountered in Vietnam, where land in desirable locations is still available.
For foreigners working in Vietnam, determining the applicability of personal income tax (PIT) to one’s situation involves decoding a set of intersecting criteria and rules. Here, we consider tax-exempt incomes, employment benefits that are not subject to PIT, and tax reductions for dependents.