Other Briefings
More Tax Breaks Available for Foreign Experts
Oct. 22 – A new circular extends tax breaks and benefits available for foreign experts implementing projects in the country using official development assistance (ODA) effective November 20. The new rule includes relaxing visa policies for foreign experts and their family in addition to an import tax exemption on personal assets for experts residing in […]
Vietnam Raises Minimum Tax on Imported Cars
Oct. 12 – The General Customs Department of Vietnam has set higher minimum taxable prices for more than 600 models of imported cars, following allegations that local importers were under-invoicing to avoid higher taxes. Thanh Nien reports that there have been cases wherein car importers were caught declaring lower prices for imported cars. Taxable prices […]
HSBC: Vietnam Likely to Increase Interest Rates Significantly
Oct. 6 – The State Bank of Vietnam will probably increase its key rate by 400 basis points to 11 percent by the end of 2010, HSBC said in a report Tuesday. The country’s interest rate hike, likely to be the biggest in Asia, is a result of Vietnam’s widening trade deficit, accelerated inflation and […]
Largest Southeast Asian Ceramic Tile Plant Opens in Vietnam
Sept. 30 – The largest ceramic tile plant in Southeast Asia has opened in Quang Nam Province in Vietnam spanning 40 hectares and costing VND$1 trillion. The plant can handle eight production lines with a total output of 24 million square meters annually says Xinhua. It will provide about 1,000 local jobs for the province. […]
Carlsberg Expects Sales to Surpass Market Growth
Sept. 21 – Danish beer company, Carlsberg, is forecasting that its volume growth in Vietnam will even surpass the beer industry’s expected market growth of 6 to 8 percent annually. This has led the company to sign an agreement with Vietnamese brewer Hanoi Beer & Beverage Corporation (Habeco) in anticipation of the increased volume by […]
HSBC Partners with Vietnam Post to Offer Financial Services
Sept. 18 – HSBC has announced that it will be partnering with state-run, Vietnam Posts, to make its financial services available to more people through its network of post offices. HSBC clients will now be able to make credit card payments or receive cash payments at post offices. “This move significantly expands HSBC’s domestic reach […]
Online Filing of Income Tax Declaration and Customs Procedures Now Available
Sept. 3 – The Ministry of Finance in partnership with the Vietnam Posts and Telecommunication Group (VNPT) are now making it possible to file income tax declaration and conduct customs procedures online. The goal is to digitize the ministry’s public administrative procedures said Thanh Nien News. The new online filing system will be implemented on […]
Ministry of Finance Clarifies Income Tax Exemptions
Aug. 20 – Vietnam’s Ministry of Finance has released a circular clarifying the exemptions on personal income tax and taxes on gifts, inheritance and transfers of real property. Circular 160/2009/TT-BTC outlines that individuals and non-resident individuals receiving income from capital gains and royalties are exempt from personal income tax in the first half of this […]
Vietnam-Russia Business Council Opens in Ho Chi Minh City
Aug. 7 – The Vietnam-Russia Business Council opened in Ho Chi Minh City this week with the aim of promoting trade in domestic and overseas markets for both countries. Bilateral trade amounted to more than US$1.64 billion last year but slowed down during the first half of this year. Currently, Vietnam has invested US$1.7 billion […]
Vietnam, Israel Sign Double Taxation Avoidance Agreement
Aug. 6 -The Vietnamese and Israeli government have signed an agreement to avoid double taxation charges. Tran Xuan Ha, Deputy Minister of Finance, told the People the agreement would create a clear and stable legal environment for taxation to help facilitate investors’ business in the two countries. Last year, bilateral trade amounted to US$163 million. […]
