Other Briefings
Vietnam’s National Assembly Approves 2012 Salary Increases
Nov. 15 – On November 10, the Vietnamese National Assembly approved VND59.3 trillion (US$2.83 billion) in salary increases starting from May 1, 2012. Under the recent resolution, minimum salaries for state employees will be increased to VND1.05 million (US$51) per month. The current minimum wage for state employees is VND830,000 (US$40), established by Decree No. […]
Corporate Income Tax Delayed One Year For Labor-Intensive Enterprises
Decision 54/2011/QD-TT inked by the Prime Minister agrees to extend corporate income tax payments in 2011 for labor-intensive companies as well as select co-operatives.
Vietnam Seeing an Industrial ‘Renaissance’
By Lorenzo Martelli Oct. 19 – Vietnam is gradually moving away from its traditional focus areas of industrial production such as textiles, food processing, rice and coffee to attracting investment in new sectors like electronic and high-tech manufacturing, research and development. Manufacturers are seeking alternatives along with rising labor costs in Thailand and China – […]
New Regulation to Improve FDI Quality in Vietnam
Vietnam determined to improve the quality of foreign direct investment Oct. 7 – Over the last few years, Vietnam has emerged as an important destination to invest in for foreign companies. In 2009, the government issued a resolution titled Decision 129/2009/QD-TTg (“Decision”) aimed at attracting and managing FDI. The Decision’s goal was to build and […]
Vietnam Raises Ceiling for Minimum Wage Levels
By Francesca Grassi Sept. 27 – On October 5, 2011, new Decree no.70/2011/ND-CP on region-based minimum wage levels will come into force in Vietnam bringing in eloquent changes and a step forward from previous Decree no.107/2010/ND-CP and Decree no.108/2010/ND-CP. The regulation is effectively structured in order to provide companies with exact information about the applicability […]
Vietnam to Implement Single Window Customs Mechanism
Sept. 19 – Prime Minister Nguyen Tan Dung has decided to simplify procedures concerning exporting, importing, and transiting goods and means of transport in the period 2011- 2014 by implementing the “National Single Window Customs Mechanism” pilot program. The new system will allow all stakeholders involved in importation and exportation to submit or send standardized […]
New Regulations in Fuel Trade for Companies
Sept. 15 – According to the information provided by the Ministry of Finance (MoF), domestic merchants providing petrol to manufacturers at open economic and cross-border industrial zones will be subject to temporary import and re-export laws. All fuel-trading activities between traders and producers will be to operate in accordance with General Department of Customs procedures.
Vietnam Reforms the Law of Foreign Employment in the Country
By Francesca Grassi Sept. 7 – On June 17 of this year, the Vietnamese government issued Decree n.46/2011/ND-CP (effective from August 1, 2011) amending and supplementing Decree n.34/2008/ND-CP dated March 25, 2008 on the employment and administration of foreigners working in Vietnam. The new legislation aims at improving the ineffective implementation of foreign labor regulations […]
Vietnam’s New Tax Changes for Aug. 2011
Several important tax updates that have come into effect in Vietnam from August 2011
Vietnam Increases Import Duties on Certain Commodities
Jul. 13 – Vietnam’s Ministry of Finance has issued Circular No. 91/2011/TT-BTC dated June 20, 2011, amending import tax rates for certain goods in the Preferential Import Tariff. Beginning August 4, 2011, import tax rates increase for some items in the Preferential Import Tariff according to the list of taxable goods issued together with Circular […]
