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Personal Income Tax in Vietnam: Tax Exemption, Reduction & Payment
HANOI – As major businesses continue to prioritize investment into Vietnam as a strategy to diversify sourcing options and supplier portfolios outside of China, it is increasingly important to understand not only how businesses are taxed in Vietnam, but also individuals. Continuing our coverage of personal income tax (PIT), this article will examine exemptions, reductions […]
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Vietnam’s Airline Industry Takes Off
According to the International Air Transport Association, over the next year Vietnam should become the world’s third-fastest growing market for international passengers and freight. It will also be the second-fastest growing market for domestic passengers.
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Vietnam Moves Closer to Ratification of Trans-Pacific Partnership
Oct. 21 – Due to the large amount of state-owned enterprises (SOEs) within Vietnam, the country has found itself at somewhat of an impasse with regards to negotiations on the Trans-Pacific Partnership (TPP). The TPP has called for a high degree of transparency and for a great increase in the openness of markets. The TPP […]
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ASEAN’s Rising Minimum Wage Levels: Vietnam
By Alex Tangkilisan HANOI – Several ASEAN countries have raised their minimum wage standards recently to adjust their respective salary levels to the rising costs of living and to provide their citizens with higher purchasing power. However, many businesses and investors have complained that the somewhat drastic wage hikes have hurt the market in terms […]
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Vietnam Issues New Customs Regulations
On September 10, 2013, the Vietnamese Ministry of Finance issued Circular 128/2013/TT-BTC (hereinafter referred to as “Circular 128”) which enacts a slew of new regulations with regard to customs procedures, customs control and supervision, import and export duties and the administration of duties on import and export goods.
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Vietnam, World’s Second Largest Garment Sourcing Country
Oct. 14 – Vietnamese garment makers are further intensifying their competition with Bangladesh as it seeks to take an even larger portion of the global clothing market thanks to being on the cusp of being placed within the U.S.-based generalized system of preferences (GSP). Specifically, the GSP is a trade privilege scheme which has been […]
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World Bank: Vietnam Growth, Positive Signs
Oct. 10 – According to the World Bank, Vietnam has seen improvements to its macroeconomic performance over the past two years despite such growth being tempered by structural problems in the banking and state-owned enterprise (SOE) sectors. This comes as good news as Vietnam saw its lowest growth levels since 1999 at 5.2 percent just […]
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Using Vietnam to Target the Emerging ASEAN Region
As part of this fast-growing market, Vietnam has played a key role in helping ASEAN make strides in its journey towards connectivity and harmonization. This article analyzes how foreign businesses can use Vietnam to target the emerging ASEAN region.
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Vietnam Seeks Indian Investment in Rubber Industry
Oct. 9 – In a recent visit to India, a delegation of the Vietnam Rubber Association invited the All Indian Rubber Industries Association (AIRIA) to invest in the Vietnamese rubber industry. Vietnam annually produces over 900,000 tons of natural rubber, and is currently seeking to fill the gap in rubber supply that was brought on […]
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Business License Tax in Vietnam
Oct. 2 – Business license tax (BLT) is an indirect tax imposed on entities that conduct business activities in Vietnam and are paid by the enterprises themselves on an annual basis. All companies, organizations or individuals (including branches, shops and factories) and foreign investors that operate businesses in Vietnam are subject to BLT charges, and […]