Other Briefings
Vietnam to Implement Single Window Customs Mechanism
Sept. 19 – Prime Minister Nguyen Tan Dung has decided to simplify procedures concerning exporting, importing, and transiting goods and means of transport in the period 2011- 2014 by implementing the “National Single Window Customs Mechanism” pilot program. The new system will allow all stakeholders involved in importation and exportation to submit or send standardized […]
New Regulations in Fuel Trade for Companies
Sept. 15 – According to the information provided by the Ministry of Finance (MoF), domestic merchants providing petrol to manufacturers at open economic and cross-border industrial zones will be subject to temporary import and re-export laws. All fuel-trading activities between traders and producers will be to operate in accordance with General Department of Customs procedures.
Vietnam Reforms the Law of Foreign Employment in the Country
By Francesca Grassi Sept. 7 – On June 17 of this year, the Vietnamese government issued Decree n.46/2011/ND-CP (effective from August 1, 2011) amending and supplementing Decree n.34/2008/ND-CP dated March 25, 2008 on the employment and administration of foreigners working in Vietnam. The new legislation aims at improving the ineffective implementation of foreign labor regulations […]
Vietnam’s New Tax Changes for Aug. 2011
Several important tax updates that have come into effect in Vietnam from August 2011
Vietnam Increases Import Duties on Certain Commodities
Jul. 13 – Vietnam’s Ministry of Finance has issued Circular No. 91/2011/TT-BTC dated June 20, 2011, amending import tax rates for certain goods in the Preferential Import Tariff. Beginning August 4, 2011, import tax rates increase for some items in the Preferential Import Tariff according to the list of taxable goods issued together with Circular […]
Vietnam Introduces Tax Incentives for SMEs
Last April, Vietnam’s Prime Minister executed a tax extension for small and medium-sized enterprises (SMEs) for 2010 corporate income taxes with the total amount of around VND7 trillion. The eligible enterprises for this incentive are about 200,000 of the total 360,000 small and medium enterprises currently operating in Vietnam.
Green Energy in Vietnam
Political and legal aspects Jul. 6 – Government targets and support mechanisms in the field of renewable energy are available in legal documents from the Minister of Trade and Industries and the Institute of Energy. Examples include: The Master Plan for Renewable Energy This source describes national goals for the development of renewable energy sources […]
Goods Imported into Vietnam must Register Certificate of Origin
Jul. 5 – In an afternoon news conference on June 30, 2011, Deputy of Vietnam’s Ministry of Agriculture and Rural Development Diep Kinh Tan said Circular No. 13/2011/TT-BNNPTNT would guide the inspection of food safety resources and vegetable imports effective from July 01, 2011. The Circular clarified that if the origin of plants and goods […]
Vietnam Releases New Circular on Personal Income Tax Exemptions Related to Medical Treatment
Allowances provided by the company to employees for medical treatment to cure serious diseases of those employees or their direct family members shall not be subject to personal income tax if the amount paid is from profits after tax, or the welfare fund, or the reward fund of the company.
Vietnam’s MoF Proposes Personal Income Tax Reductions
The Ministry of Finance consulted the National Assembly in July for personal income tax exemption for employees without dependents and an income from VND5 million per month or less, with one dependent and an income no more than VND6.6 million per month, with two dependents and an income of no more than VND8.2 million per month.
