Other Briefings
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. […]
E-Customs Clearance Process Still Limited
HO CHI MINH, Jul. 14 – Despite being offered on a trial basis in Ho Chi Minh City and Hai Phong since 2005, the e-customs clearance service is still bogged by inefficiencies and delays. City customs departments are ill-equipped to handle the surge of applications because of insufficient bandwidth capacity sometimes aggravated by the country’s […]
Personal Income Tax Exemption Approved
Jun. 22 – Vietnam’s National Assembly voted in favor of the Personal Income Tax (PIT) exemption from the period beginning July 1. The ministry is expected to release a follow-up announcement detailing the coverage of the exemption. The directive should specify the residency status subject to tax exemption, types of income subject to tax exemption […]
More Goods Qualified for 50 Percent VAT Discount
May 20 – Vietnam’s Ministry of Finance has added thousands of goods on their list that qualify for a 50 percent cut on VAT rates until the end of the year. The list added knives and cutting blades used for machines or mechanical tools, welding rods, water tanks with a capacity of more than 300 […]
