Other Briefings
Important Changes to Vietnam’s Tax Regulations
Vietnam’s government has made some important changes to the country’s tax regulations over the first four months of 2012, and has issued Circular 06, which took effect from March 1, providing a detailed guidance on some key changes to VAT rules.
Vietnam to Tighten Cash Loan Disbursements from June 1
According to the Circular, banks will not use cash as a method for disbursing loans from June 1, 2012.
New Audit Regulations in Vietnam
Apr. 19 – On March 13, 2012, the Vietnam government promulgated Decree No. 17/2012/ND-CP detailing and guiding the implementation of legal articles related to independent audits. This Decree detailed conditions regarding the granting of certificates of satisfaction of auditing business conditions in Vietnam.
Vietnam to Increase General Minimum Wage Levels from May 1
Vietnam has officially increased its general minimum wage levels from VND830,000 per month to VND1.05 million per month effective from May 1, according to Decree No. 31/2012/ND-CP dated Apr 12, 2012.
Update Regarding Land Use Mortgage Rights
By Mattia Capsoni Feb. 24 – The Vietnamese Government issued Decree 05/2012/ND-CP to change and set up new rules concerning mortgages of land use rights and assets lying on land. More specifically, this kind of contract was to be approved by the commune-level People’s Committee; but according to the Decree, from April 2012 this power […]
Vietnam’s New Tax Schedule for 2012
Vietnam’s Ministry of Finance issued Circular No.157/2011/TT-BTC on November 14, 2011, stipulating the tax rates of export and import tariff preferences under the list of taxable items. The Decree takes effect from January 1, 2012.
Vietnam to Extend CIT Payments for SMEs by 3 Months
By Tran Que Chi Feb. 13 – On January 19, 2012 the Prime Minister enacted Decision No. 04/2012/QĐ-TTg – granting a three-month extension for the payment of corporate income tax which small and medium enterprises, and enterprise using many laborers, must pay for the first and second quarters of 2011. According to Decision No. 04, […]
Business Registration Set to be Streamlined
The Ministry of Planning and Investment (MPI) of Vietnam has recently drafted a circular pertaining to an online registration initiative for start-up businesses that aim to streamline the establishment process.
Lower Rent for Manufacturers and Environmental Tax Exemptions
The Vietnamese Government issued Decision No. 2093/QD-TTg to reduce businesses’ land use rental costs for 2011 and 2012. A 50 percent reduction in rentals for leased land will be enjoyed by firms conducting manufacturing businesses.
Vietnam to Cut Income Tax By 30% for Small Business
On November 4, 2011 the government enacted Decree 101/2011/ND-CP presenting tax incentives to help enterprises and individuals survive in the current high level of inflation in Vietnam.
