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Vietnam to Give Certain Automobiles a Special Consumption Tax Rebate
Vietnam’s Ministry of Finance has announced that certain automobiles, depending on their engine displacement values, will receive a special consumption tax (SCT) rebate beginning July 1, 2016. However, other cars will see a higher tax compared to their current levels.
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In Bid to Protect Exports, Vietnam Devalues Dong for the Third Time this Year
For the third time this year, the country’s central bank, the State Bank of Vietnam (SBV) has devalued Vietnam’s currency, the dong. The recent move comes as the country seeks a way to maintain its export competitiveness, particularly after the recent devaluations of the Chinese yuan and continuing worries about a U.S. Federal Reserve rate increase.
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Report: Vietnam Primary Alternative to China’s Pearl River Delta
A report from Standard Chartered Bank has identified Vietnam as a primary destination for businesses relocating from China’s Pearl River Delta (PRD) region.
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Electronic Tax Transactions Ease Vietnam’s Tax Declaration Process
To simplify the tax payment process, the Ministry of Finance has issued Circular No. 110/2015/TT-BTC to guide the implementation of electronic transaction in tax administration.
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Vietnam and the EU Reach Agreement in Principle on FTA
On Tuesday, Vietnam and the European Union reached an agreement in principle on a free trade agreement (FTA) that would remove most tariffs on goods, among other benefits. This is the first such agreement that the EU has concluded with a developing country, such as Vietnam.
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Vietnam Leads ASEAN in Domain Registrations
55,944 new .vn domains were registered in Vietnam in the first half of 2015, according to the Vietnam Internet Network Information Center (VNNIC), ranking the country first among the ten ASEAN members for the number of country code top-level domains.
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Personal Income Tax Changes Come into Effect
Ministry of Finance guidelines on personal income tax (PIT) in Circular No. 92/2015/TT-BTC came into effect on 30 July, 2015, applying to the 2015 tax period.
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Vietnam in the UK’s Pivot to ASEAN
David Cameron has made the first trip to Vietnam of any serving UK Prime Minister, signaling a pivot of the UK towards the booming ASEAN region, in which Vietnam is forecast to sustain real GDP growth of over five percent per annum to 2030.
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Ford Sees Long-Term Opportunity in Vietnam’s Auto Industry
The Ford Motor Company has announced that it is strongly optimistic about the business and investment environment of Vietnam and expects that it will see continued and growing success in the country. According to Ford Vietnam’s Managing Director, Jesus Metelo Arias, the company is “committed to long-term investment and operations in Vietnam thanks to the country’s favorable investment climate.”
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Assessing Foreign Investment Potential in Vietnam Through the Business Optimism Index
The latest Business Optimism Index by Dun & Bradstreet seeks to measure this rapid ascension of Vietnam and other ASEAN countries as measured through sales volume, net profit, selling price, new orders, inventory, and employment across sectors and industries.