Other Briefings
Vietnam Considers Levy on Houses
Jan. 22 – Vietnam’s Ministry of Finance has proposed three options for levying tax on houses. The first option will base taxes on the area of the house with a threshold of 200 square meters and above including the balcony. The second option will determine the tax based on the value of the house; levying […]
Updates on Personal Income Tax Out
Jan. 18 – The Ministry of Finance has released a circular providing more instructions on the implementation of the new personal income tax (PIT). Following the circular, employers or withholding organizations will be allowed to conduct PIT finalization for its employees through a single PIT return that enumerates all income paid to its employees as […]
Corporate Income Tax Returns Due by March
HANOI, Jan. 18 – Corporate income tax (CIT) and transfer pricing (TP) returns in Vietnam are due for submission by March 31. The new regulations introduced in 2009 has changed the way CIT is followed thus companies need to be extra careful to ensure that they are in compliance and possess documents needed to account […]
Tax Agencies to Adjust Car, Bike Prices
Jan. 11 – Local tax agencies will now be allowed to adjust retail prices of cars and motorbikes should they be deemed lower than actual value following a newly drafted decree. Manufacturers and distributors of vehicles will be fined should they be be caught under-invoicing to evade taxes. Tax agencies will base prices on information […]
Central Bank to Keep Benchmark Interest Rate at 8 Percent in January
HANOI, Dec. 29 – Vietnam’s central bank will keep the benchmark interest rate at a one-year high of 8 percent in January to help strengthen the economy. The central bank increased the base rate to 8 percent last month amid signs of increasing inflation, after holding it at 7 percent for 10 months to revive […]
Tax on Securities Investments to be Implemented Next Year
Dec. 17- Vietnam will implement a tax on gains in securities investments beginning January 1, 2010. Stock investors can choose to either pay the flat 0.1 percent duty fee on the value of each transaction, or a 20 percent levy on trading profits reports Thanh Nien News. Implementation of the tax was temporarily suspended because […]
HCMC to Maintain Real Estate Prices
Dec. 4 – Authorities are determined to maintain real estate values in Ho Chi Minh City to maintain stability and avoid the market from overheating. In a new proposal only 17 of the city’s 2,890 streets will have their prices adjusted for 2010. The priciest piece of real estate is still Dong Khoi, Nguyen Hue […]
Virtual Offices Concept Face Government Resistance
Nov. 27 – Government agencies have been slower to accept the virtual office concept leading to delayed processing times for tax and registration documents that use a virtual office address. Virtual offices are a popular option for small businesses because it provides all related business needs from a phone number to a business mailing address […]
Customs Department Announces Dutiable Price Database for Various Goods
Nov. 10 – Vietnam’s General Department of Customs (GDC) has announced a new price database for dutiable products imported into the country and guidelines on how to inspect declared values. The GDC letter instructs customs department on how they can the customs value of imported goods when the declared company prices are lower than than […]
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 […]
