-
Customs Procedures in Vietnam
By Joyce Roque Mar. 23 – Following customs procedures when importing or exporting goods in Vietnam is one of the vital aspects of doing business in a country where manufacturing costs are leveraged to its favor. Goods for import and export are subject to customs clearance that checks on the quality, specifications, quantity, and volume […]
-
Environment Tax Law May Raise Production Costs in Vietnam
Mar. 22 – A draft of the new Environmental Tax Law, set to be approved in October this year, may increase taxes on fuel and coal and hike production costs in Vietnam. The law will likewise tax mosquito repellents, plastic bags, fruit and vegetable preservatives, and products containing hydro-chlorofluorocarbons. If the law is approved, beginning […]
-
HCM City Clamps Down on FDI in Real Estate Sector
Mar. 19 – The Ho Chi Minh City government has canceled the licenses of 40 foreign direct investment projects in the real estate sector worth US$1.77 billion which have remained stagnant. The real estate sector is one of the top avenues for foreign direct investment in the city although fund distribution has been slow and […]
-
Maximizing Import Duty Exemptions in Vietnam
By Joyce Roque Mar. 17 – Foreign investors in Vietnam may need to import components of their business not readily available in the local market. Import duty rates regularly change so it is best to always keep abreast with the latest rates. Authorities however prefer businesses that do not import majority of their manufacturing needs […]
-
Vietnam Industrial Parks Investment World to be Held in Ho Chi Minh City
Mar. 16 – The Vietnam Industrial Parks Investment World 2010 will be held in Ho Chi Minh City from May 7 to 8 showcasing the country’s top industrial zones. The event is perfect for foreign investors wanting to expand or relocate their manufacturing operations into Vietnam since representatives from more than 200 industrial zones in […]
-
Obtaining a Work Permit in Vietnam
By Joyce Roque Mar. 15 – Obtaining a work permit in a foreign country is considered a cumbersome and tricky process that involves compiling and verifying pertinent documents to submit to authorities. In Vietnam, work permits are valid for a maximum of three years depending on the contract. Last year, there were 16,811 foreign employees […]
-
Vietnam Issues New Birth Control Regulations
Mar. 12 – Vietnam has issued revised regulations on its Population Ordinance that will allow exceptions to the two baby quota rule. Families will be allowed to have three children in the following circumstances: if couples give birth to triplets or have a child and give birth to two or more babies during the second […]
-
Taxes Affecting Foreign Investors in Vietnam
By Joyce Roque Mar. 11 – A foreign investor looking to enter the Vietnamese market must be aware of the taxes that will affect them in the long-term since taxes are implemented on a national level and no state or provincial taxes are in place. These taxes include: Corporate Income Tax Withholding Taxes Capital Assignment […]
-
Northern Thai Nguyen Province to Become Major Manufacturing Hub
Mar. 10 – Northern Thai Nguyen Province is being groomed to become a major metallurgy, mechanical manufacturing and precision engineering hub in the country. Thai Nguyen is a small province bordering the capital city of Hanoi and serves as a gateway to the Red River delta with its network of road, rail and waterways systems. […]
-
Clarifications on Finalizing Personal Income Tax
Mar. 9 – Letter 451/TCT-TNCN issued by the General Department of Taxes last month shed light on several tax issues associated with finalizing personal income tax for 2009. The new issues highlighted in the letter include the following: For employees that worked less than 12 months in 2009, the portion of the bonus exempt from […]