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Vietnam-EU Free Trade Agreement Expected by Late 2014
Nov. 18 – Vietnam and the European Union (EU) appear set to finalize and sign a free trade agreement (FTA) by as early as fall 2014. After the fifth round of negotiations on the FTA were held in Hanoi from November 4-8, both sides expressed a strong commitment to successfully concluding negotiations ahead of the […]
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Vietnam to Introduce Digital Signatures for Customs Declarations
Nov. 15 – Enterprises will soon have to use digital signatures on customs declaration forms as the Vietnam General Department of Customs (VGDC) prepares to deploy a new customs system. The new system will benefit businesses undertaking clearance procedures for imported and exported goods. Through the use of a centralized processing system, the new Vietnam […]
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Commercial Housing Receives VAT Incentive
HANOI – A new circular released by the Ministry of Finance will reduce the tax burden on the sale and lease of homes and apartments within Vietnam, providing a boost to the country’s commercial housing sector. Circular No. 141/2013/ND-CP will implement a 50 percent reduction in the value-added tax (VAT) applicable to the sale or […]
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Establishing a Manufacturing Presence in Vietnam
Nov. 12 – When looking to expand your manufacturing business into Vietnam, there are a variety of key issues for which extra attention needs to be paid. You need to be aware of not just your potential location, but also what establishing a presence in that location means – specifically with regard to different zone […]
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Business Leaders Meet to Tackle Corruption in Vietnam
By Shawn Greene Nov. 11 – During a seminar in preparation for the 12th annual Anti-Corruption Dialogue in Hanoi tomorrow, new statistics reveal that more than 60 percent of enterprises operating in Vietnam gave ‘unofficial money’ to public officials – oftentimes without being asked to do so. Organized by the British Embassy in cooperation with […]
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Introduction to Corporate Income Tax in Vietnam
HANOI – Many first and second tier suppliers, including small to medium-size enterprises, are prioritizing their investments into Vietnam, acting on the business potential that it holds for companies involved in a larger supply chain providing goods and services to manufacturing hubs in Asia. It is thus increasingly important to understand the taxes which Vietnam […]
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Vietnam Tightens DTA Rules to Crack Down on Treaty Shopping
Vietnam has recently released a circular on anti-treaty shopping rules. This new circular amends the existing circular 133/2004, which was on the matter of double taxation agreements (DTA) with other countries. The new circular seeks to prevent companies from using the DTA as a way to circumvent taxation.
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Vietnamese Businesses to Benefit from Increased Credit
Nov. 4 – The State Bank of Vietnam, which has sought to boost the economy through loosening the country’s credit policies, will allow commercial banks to increase their loans by up to 20 percent through the end of this year – a move that will benefit companies that are positioned to take advantage of the […]
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Taiwan Bullish On Vietnam Relationship
Nov. 1 – Representatives from Vietnam and Taiwan recently met in Ho Chi Minh City to discuss trade opportunities in a variety of fields such as banking, food and real estate. The talks focused on the possibility of expanding trade and investment between the two countries as well as on bringing more Vietnamese workers to […]
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FDI Inflows Soar in Vietnam
Oct. 29 – According to Vietnam’s General Statistics Office, foreign direct investment (FDI) inflows have reached US$19.2 billion this year, an astounding increase of 65.5 percent over the previous year’s foreign investments. Now in the final quarter of its fiscal year, the Vietnamese economy has surpassed the government’s target of US$13-14 billion in annual FDI […]