Other Briefings
Provincial Competitiveness Index 2009 Available for Download
Feb. 1 – The Vietnam Chamber of Commerce and Industry and the U.S. Agency for International Development’s Vietnam Competitiveness Initiative have recently released a report ranking the competitiveness of each province in the country in 2009. The index is useful for investors looking at entering Vietnam because it gives a comprehensive look of the country’s […]
VAT Exemption for Exports Available for Local Companies
Jan. 29 – Vietnam’s Finance Ministry has announced that local companies will be given value added tax exemptions for goods sold overseas. The new circular does not exempt local companies from export and import tariffs, corporate income taxes and double taxation avoidance agreements with other countries. Local companies reported revenue losses or profits abroad although […]
Hanoi Industrial Parks Target US$180 Million Projects for 2010
HANOI, Jan. 27 – Authorities want to target US$180 million worth of new investment projects for 2010, an increase of 37.62 percent compared to the previous year. Last year, 16 local projects worth VND728 billion and 27 foreign direct investment projects capitalized at US$91.4 million were approved in Hanoi. The city now has a total […]
Vietnam to Impose New Luxury Tax on Alcohol
Jan. 25 – Vietnam will impose a new special consumption tax of 45 percent on beer and other alcoholic drinks until 2012. The General Department of Taxation announced that beer and spirits higher than 40 proof will slapped a 45 percent tax and 50 percent afterward. Alcohol with less than 40 proof will be meted […]
Vietnam Considers Levy on Houses
Jan. 22 – Vietnam’s Ministry of Finance has proposed three options for levying tax on houses. The first option will base taxes on the area of the house with a threshold of 200 square meters and above including the balcony. The second option will determine the tax based on the value of the house; levying […]
Vietnam-Singapore Industrial Park Opens in Haiphong
Jan. 21- A US$1 billion Vietnam-Singapore Industrial Park has just opened in the northern city of Haiphong. This is the third industrial park of its kind spearheaded by the Singapore and Vietnam government. The 1,600-hectare park is located in Vietnam’s third largest city, 100 kilometers from Hanoi with easy access to the region’s largest seaport, […]
Ministry Forecasts US$25 Billion FDI in 2010
Jan. 20 – The Ministry of Planning and Investment is forecasting that FDI to Vietnam will rise by 10 percent to US$22-US$25 billion given the slowly recovering world economy. According to the Foreign Investment Agency (FIA), there were a total of 839 FDI projects implemented in the country amounting to US$21.48 billion by December 15, […]
New Requirements for Permanent Residency in Hanoi
Jan. 19 – A new draft of the Capital Law will place stricter requirements for foreigners applying for permanent residency in Hanoi. Applicants will need to show proof of holding a legal job with a salary double the city’s average minimum in addition to maintaining temporary residency in city continuously for at least five years […]
Updates on Personal Income Tax Out
Jan. 18 – The Ministry of Finance has released a circular providing more instructions on the implementation of the new personal income tax (PIT). Following the circular, employers or withholding organizations will be allowed to conduct PIT finalization for its employees through a single PIT return that enumerates all income paid to its employees as […]
Corporate Income Tax Returns Due by March
HANOI, Jan. 18 – Corporate income tax (CIT) and transfer pricing (TP) returns in Vietnam are due for submission by March 31. The new regulations introduced in 2009 has changed the way CIT is followed thus companies need to be extra careful to ensure that they are in compliance and possess documents needed to account […]
