Other Briefings
New CIT Payment Deferral Incentives for SMEs
A decision concerning small and medium-sized enterprises’ corporate income tax became effective on April 6, 2011. This decision from the Vietnamese prime minister allows SMEs to defer their CIT settlements of one year.
Vietnam’s MoF Targets FIEs in New Tax Inspection Plan
Apr. 13 – Vietnam’s Ministry of Finance has set up an important tax inspection plan for the year 2011. The objective of the plan is to ensure that enterprises do not commit any tax law violations in Vietnam and might allow to collect tax arrears and to uncover transfer pricing cases. These inspections will focus […]
Higher Fuel Prices Proposed to Combat Smuggling
Mar. 24 – Oil companies and authorities in the southern provinces have recommended that fuel prices be raised in Vietnam to combat smuggling into neighboring Cambodia, where fuel is much more expensive. The Ministry of Industry and Trade said A92 gasoline in Vietnam is VND19,300 per liter, while the price in Cambodia hovers around VND24,000.
New Changes in Vietnam May Affect Foreign Investors
New rules outline ratio of charter capital in SOEs Mar. 23 – In newly-signed decision 14/2011/QDTTg, Vietnam’s government will limit its holdings of 50 percent of the charter capital of power production companies that are bigger than 500 megawatts. The state will continue to hold 100 percent of the charter capital in businesses involved in […]
Vietnam to Cut Import Duties to 15 Percent
Vietnam’s Finance Ministry plans to cut import duties to 15 percent in April. Currently, the tariff on refined sugar is 40 percent, while raw sugar is taxed at 25 percent.
Vietnam’s MOF to Update Finance and Real Estate Regulatory Frameworks
Feb. 28 – Vietnam’s finance and real estate regulatory frameworks are set to undergo changes in the coming months, according to the Ministry of Finance. New amendments to securities regulations to come into effect in July will allow companies and investors to negotiate investments in terms of cash or assets, contingent upon the mutual approval of contracts and price agreements […]
Vietnam to Raise Power Prices by 15%
Feb. 22 – Vietnam recently announced that the government has decided to raise the country’s power price by a record 15.3 percent, up from the current VND1,077 per kw/h to VND1,241 per kw/h, starting March 1, 2011. The government said it had made the price hike as small as possible after considering both the cost […]
Updated Rules for Small Business Loans to Take Effect February 25
Feb. 17 – The Prime Minister issued decision 03-2011-QD-TTg on January 10, regulating loan guarantees for small and medium-sized enterprises (SMEs). The decision attempts to standardize procedures for the Vietnam Development Bank to issue guarantees for commercial bank loans to SMEs.
Vietnam Amends VAT Regulations for SMEs
Jan. 25 – Vietnam’s government recently approved a proposal to extend the declaration time of value added tax (VAT) for small and medium enterprises (SMEs) and family businesses, removing cumbersome elements of the country’s tax code for emerging entrepreneurs. Under Resolution 68/NQ-CP, which takes effect this month, SMEs will only need to declare VAT every […]
Vietnam Lowers Import Duties on Petroleum Products
Jan. 19 – Vietnam’s Ministry of Finance lowered import duties for petroleum products from January 14 onwards, according to the ministry’s web site. The import tax for gasoline was cut to 0 percent from 6 percent, and the tax on diesel was decreased to 0 percent from 2 percent. The tax on kerosene was reduced […]
