Vietnamese Businesses to Benefit from Increased Credit
Nov. 4 – The State Bank of Vietnam, which has sought to boost the economy through loosening the country’s credit policies, will allow commercial banks to increase their loans by up to 20 percent through the end of this year – a move that will benefit companies that are positioned to take advantage of the […]
Personal Income Tax in Vietnam: Tax Exemption, Reduction & Payment
HANOI – As major businesses continue to prioritize investment into Vietnam as a strategy to diversify sourcing options and supplier portfolios outside of China, it is increasingly important to understand not only how businesses are taxed in Vietnam, but also individuals. Continuing our coverage of personal income tax (PIT), this article will examine exemptions, reductions […]
Business License Tax in Vietnam
Oct. 2 – Business license tax (BLT) is an indirect tax imposed on entities that conduct business activities in Vietnam and are paid by the enterprises themselves on an annual basis. All companies, organizations or individuals (including branches, shops and factories) and foreign investors that operate businesses in Vietnam are subject to BLT charges, and […]
Valued-added Tax in Vietnam: Filing, Payment and Refund
Oct. 1 – Pursuant to the prevailing regulation on Vietnamese tax management, the taxpayer must submit monthly valued-added tax (VAT) returns and settle tax payments on or before the 20th day of the following month in localities where they conduct production or business. Furthermore, in specific situations, business establishments that pay VAT according to the […]
New Issue of Vietnam Briefing: Manufacturing in Vietnam to Sell to ASEAN and China
In this issue of Vietnam Briefing Magazine, we introduce our readers to manufacturing in Vietnam as a key part of their business strategy within the ASEAN region and beyond. Specifically, we explain the new ASEAN Free Trade Area, outline what foreign investors can look forward to when creating their manufacturing presence in the country, and introduce the country’s key tax points.
Vietnam Opens First Ever UCITS Equity Fund
Sept. 25 – This week, Ho Chi Minh City-based firm Dragon Capital launched the first Undertakings for Collective Investment in Transferable Securities (UCITS) equity fund ever to exist in Vietnam to give foreign investors further access to Vietnam’s fast growing market. UCITS refers to the directive that was originally undertaken by the European Union to […]
Calculating Value-added Tax in Vietnam
HANOI – On June 3, 2008, the National Assembly passed the Law on Value-added Tax (VAT), which became effective from January 1, 2009. The VAT Law imposes tax on the value added to goods and services arising in the process of production, distribution and consumption in Vietnam, including goods and services purchased from abroad. All […]
Vietnam and New Zealand Sign DTA
Aug. 6 – Vietnamese President Truong Tan Sang and New Zealand Governor-General Rt Hon Sir Jerry Mateparae met in Hanoi yesterday to sign a new double tax agreement (DTA) that seeks to further boost economic relations and clarify tax-related issues between the two countries. The development and signing of this DTA comes quickly on the […]
Foreign Exchange Control in Vietnam
Aug. 5 – Foreign exchange control is the paramount concern for all foreign investors entering into Vietnam, as regulations on capital inflows and outflows have a great influence on operations and profit. These transactions include transferring capital into and out of the country, opening and using bank accounts, borrowing foreign loans and paying foreign debts, dealing […]
Vietnam Establishes Management Firm to Buy Bad Debt
Aug. 1 – Last week, in a move to try to fix its credit-starved economy, Vietnam officially launched the Vietnam Asset Management Company (VAMC) by way of Decree 53/2013/ND-CP. The VAMC will essentially buy up any bad debts that its country’s banks hold. The VAMC, colloquially known as the “bad debt bank”, finally commenced operations […]