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Valued-added Tax in Vietnam: Filing, Payment and Refund
Oct. 1 – Pursuant to the prevailing regulation on Vietnamese tax management, the taxpayer must submit monthly valued-added tax (VAT) returns and settle tax payments on or before the 20th day of the following month in localities where they conduct production or business. Furthermore, in specific situations, business establishments that pay VAT according to the […]
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Vietnam Seeks Foreign Investment, Restructures Economy
Sept. 30 – At a meeting in New York this week, Vietnamese Prime Minister Nguyen Tan Dung stated that the country will ensure that additional foreign ownership be allowed in Vietnam’s state-owned banks and that state-owned enterprises (SOEs) are also now going to be subject to much more market competition. Prime Minister Dung, who spoke […]
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New Issue of Vietnam Briefing: Manufacturing in Vietnam to Sell to ASEAN and China
In this issue of Vietnam Briefing Magazine, we introduce our readers to manufacturing in Vietnam as a key part of their business strategy within the ASEAN region and beyond. Specifically, we explain the new ASEAN Free Trade Area, outline what foreign investors can look forward to when creating their manufacturing presence in the country, and introduce the country’s key tax points.
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Vietnam Exports Rise Thanks to Foreign Firms
Sept. 26 – Over the first eight months of this year, Vietnam’s exports rose by 15.1 percent year on year to US$85.2 billion, with foreign-invested companies accounting for over 60 percent of the monetary figure. On the other hand, domestic firms have experienced either stagnant or declining export levels.
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Vietnam Opens First Ever UCITS Equity Fund
Sept. 25 – This week, Ho Chi Minh City-based firm Dragon Capital launched the first Undertakings for Collective Investment in Transferable Securities (UCITS) equity fund ever to exist in Vietnam to give foreign investors further access to Vietnam’s fast growing market. UCITS refers to the directive that was originally undertaken by the European Union to […]
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Vietnam Holds 4th PPP Workshop to Attract Investors
Sept. 24 – On September 19th, the Vietnamese Ministry of Transport and the World Bank held a workshop in order to attract foreign investors to the Dau Giay–Phan Thiet highway project. This is Vietnam’s first ever public private partnership (PPP) project. The 100 km, four-lane highway will be in the Southeastern region of the country […]
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Vietnam to Set Up State-Owned Credit Rating Agency
Sept. 19 – The Vietnamese Ministry of Finance (MOF) is expected to launch a new state-run credit rating agency (CRA) next year in a move to create a government-run institution to reliably rate the country’s stocks and companies. The purpose of the CRA will be to judge how likely it is that a company is […]
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Vietnam Clarifies Foreign Worker Guidelines
The Vietnamese Government has issued Decree 102/2013/ND-CP (Decree 102) regarding the country’s labor laws in order to provide a set of clearer guidelines for foreigners currently working in Vietnam.
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Vietnam & New Zealand to Deepen Ties and Expand Trade
Sept. 18 – This week, Vietnam and New Zealand collectively set a new target to reach a total bilateral trade turnover of US$1 billion by 2015 – the 40th anniversary of diplomatic ties between the two countries – after talks held in Hanoi between Vietnamese Deputy Prime Minister Vu Van Ninh and New Zealand Deputy […]
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Calculating Value-added Tax in Vietnam
HANOI – On June 3, 2008, the National Assembly passed the Law on Value-added Tax (VAT), which became effective from January 1, 2009. The VAT Law imposes tax on the value added to goods and services arising in the process of production, distribution and consumption in Vietnam, including goods and services purchased from abroad. All […]