Other Briefings
Tax Update: Vietnam Gov’t Approves Amendments to CIT Law
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.
Vietnam to Change PPP Laws
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.
Vietnam Central Bank to Inject Capital Into Banking System
Mar. 18 – The Central Bank of Vietnam plans to infuse an additional VND30 trillion into Vietnam’s banking system in order to make further soft loans available for home-buyers. This move hopes to revive the struggling property market and resolve bad debt. The central bank issued a circular late last week in which it clarified that banks will be […]
Dong Stable as Vietnam Proposes PPP Amendments
Mar. 11 – The Vietnamese Dong will likely remain stable this year thanks to Vietnam’s ample foreign currency reserves and the country’s trade surpluses. Nguyen Van Binh, the chief of the State Bank of Vietnam, has said that Vietnam’s reserves rose by US$18 billion in 2012. In unofficial markets last Wednesday, the Dong traded at […]
Vietnam Government Encourages Supporting Industries
By Nguyen Huyen My Mar. 7 – In 2010 and 2011, the Vietnamese Government issued a number of policies to encourage supporting industries, especially those connected to the high-tech sectors (Prime Minister’s Decision No 12/2011/QD-TTg). Supporting industries play a key role in promoting the development of Vietnam’s main industries. Furthermore, the potential to develop Vietnam’s […]
Vietnam To Open Up Banking System
Feb. 28 – In an attempt to obtain additional capital for its already debt-ridden banking system, Vietnam is further opening the door to foreign ownership of its banks. Via a State Bank of Vietnam circular, the government announced that it has issued a draft decree that would allow the Prime Minister to permit foreigners on […]
Vietnam To Revamp Its Economy
Feb. 27 – Vietnam has approved a plan to boost its economy by focusing on restructuring public investments, banks and state-owned enterprises (SOEs). Furthermore, in an attempt to generate sustainable growth by 2020, attention will also be placed on strictly controlling inflation. As he signed a 29-page directive that took effect on February 19, Prime […]
High-Technology Law in Vietnam Sets High Investment Requirements
Feb. 13 – “Science and technology, along with education, have always been priorities in our national policy, but the [law on high technology] is the first legal document that institutionalizes that policy,” remarked Nghiem Vu Khai, Vice Chairman of the National Assembly’s Committee for Science, Technology and the Environment, in July 2009. It was at […]
Vietnam Set to Lower Corporate Income Tax
Vietnam’s Ministry of Finance has announced it will be making changes to the Law on Corporate Income Tax, to be revised by the National Assembly in 2013.
Vietnam Changes the Law Governing Personal Income Tax
On November 22, 2012, the Vietnamese National Assembly promulgated Law No. 26/2012/QH13, amending and supplementing a number of articles within the Law on Personal Income Tax – including increasing personal income tax thresholds.
