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.
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 Issue of Vietnam Briefing: International Taxation Agreements
In this issue, we will first look at the broader context of global trade and the growing salience of FTAs between Vietnam and its trade partners. We will examine the effects of current FTAs on Vietnam’s exports, the advantages and disadvantages thus far, as well as the response of Vietnamese enterprises to the policies of the FTAs in effect. Also, an in-depth look at key bilateral and regional trade agreements will reveal some telling trends.
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.
SBV Proposes New Regulations for FDI in Credit Institutions
By Francesca Grassi Sept. 14 – The State Bank of Vietnam (SBV) has recently elaborated a (third) “Draft Decree” regulating foreign shares in Vietnamese commercial banks: if the new guidelines receive the placet of the government, Decree 69/07 ND-CP (dated April 20, 2007) on foreign investors’ acquisition of shares in Vietnamese institutions will be superseded […]
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 […]
Vietnam Introduces Tax Incentives for SMEs
Last April, Vietnam’s Prime Minister executed a tax extension for small and medium-sized enterprises (SMEs) for 2010 corporate income taxes with the total amount of around VND7 trillion. The eligible enterprises for this incentive are about 200,000 of the total 360,000 small and medium enterprises currently operating in Vietnam.