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Corporate Income Tax Returns Due by March
HANOI, Jan. 18 – Corporate income tax (CIT) and transfer pricing (TP) returns in Vietnam are due for submission by March 31. The new regulations introduced in 2009 has changed the way CIT is followed thus companies need to be extra careful to ensure that they are in compliance and possess documents needed to account […]
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Danang Tops Provincial Competitive Index
Jan. 15 – Danang topped the Vietnam Chamber of Commerce and Industry’s 2009 provincial competitiveness index (PCI) ranking followed by Binh Duong Province in the south. This is the second consecutive year that Danang finished first place in the index. Vietnam’s northeast Lao Cai Province ranked higher than Vinh Phuc Province to be included in […]
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New Economic Zone to be Set Up in Ha Giang Province
Jan. 14 – The government has announced that it will open a new national border gate economic zone in Ha Giang Province to further trade with China. The Thanh Thuy economic zone will be an important import-export venue for the northern region spanning 28,700 hectares including the communes of Thanh Thuy, Phuong Tien, Thanh Duc, […]
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Bac Ninh Province Revokes 51 Licensed Projects
Jan. 13 – Vietnam’s northern province of Bac Ninh has revoked 51 delayed licensed projects in its industrial parks in an effort to strengthen investment conditions. The Bac Ninh Industrial Zones Authority said projects that were left idle were canceled. Last year, it also canceled the investment licenses of 13 projects worth a total of […]
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Vietnamese Businesses to Make More Overseas Investments
Jan. 12 – The Foreign Investment Agency forecasts that local businesses will make more investments overseas following last year’s 457 projects worth US$7.2 billion in more than 50 countries and territories. Last year surpassed average overseas investments by a huge margin with agriculture projects accounting for 40 percent of projects or a majority 68 percent […]
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Tax Agencies to Adjust Car, Bike Prices
Jan. 11 – Local tax agencies will now be allowed to adjust retail prices of cars and motorbikes should they be deemed lower than actual value following a newly drafted decree. Manufacturers and distributors of vehicles will be fined should they be be caught under-invoicing to evade taxes. Tax agencies will base prices on information […]
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Foreign Hotel Offers US$21,000 Tet Bonus in Ho Chi Minh City
Jan. 11 – The highest bonus given during Tet Festival comes from a foreign hotel industry company in Ho Chi Minh City amounting to US$21,000, according to the city’s Department of Labor, War Invalids and Social Affairs. The department based the information on an official list of compiled from reports submitted by almost 1,000 companies. […]
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Ho Chi Minh City Unemployment Rate at 5.45 Percent
Jan. 8 – Ho Chi Minh City’s unemployment rate is currently at 5.45 percent after the global slowdown led 280 businesses in the city to lay off 53,000 workers and place another 16,000 on part-time basis last year. According to Voice of Vietnam, 80 percent of those laid off have already found jobs. The municipal […]
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Vietnam Approves 20 Foreign Institutional Licenses for December
Jan. 7 – The Vietnam Securities Depository Agency has issued licenses to 20 foreign institutional investors in December to allow them to trade local stocks. This brings the total number of foreign institutional investors to 1,149. The government also granted 125 foreign individuals permission to trade in December making the total number to 12,429.
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United States is Vietnam’s Top Foreign Investor
Jan. 6 – The United States is Vietnam’s top foreign investor for 2009 with a total capital investment of US$9.8 billion. The Foreign Investment Department says that American investment accounted for 45.6 percent of Vietnam’s total foreign investment followed by Cayman Islands at more than US$2 billion.