Other Briefings
Vietnam to Raise its Tax on Natural Resources
Vietnam’s Ministry of Finance (MoF) has announced that it is currently seeking approval to raise taxes on the country’s key natural resources. The tax raises are intended to act as a tool to increase government revenues and tighten the management of resource mining.
Vietnam to Increase Special Consumption Tax on Imported Cars
As Vietnam continues to attempt to build up its domestic auto industry, the Ministry of Finance has announced that it has drafted a plan to increase the special consumption tax (SCT) on imported cars by changing the basis on which the tax is calculated. The Vietnamese government has been concerned that the current method of SCT calculation has resulted in a competitive advantage for importers – the new method seeks to correct this imbalance.
ASEAN Rules of Origin To Be Key In China – Vietnam Trade
Chinese customs are likely to request certification in accordance with your product’s Rules of Origin. In this op-ed, Chris Devonshire Ellis explains its importance.
Changes to Vietnam’s Customs and Tax Procedures in 2015-16
What do Vietnam’s tax and customs procedures mean for you? Vietnam Briefing report the latest developments and expected changes in 2015-16 to streamline your business activities in Vietnam.
Vietnam on Track to Reduce the Time Businesses Will Spend Paying Taxes
The Department Deputy Head, Hoang Thi Lan Anh, of Vietnam’s General Department of Taxation Reform has confirmed the government’s commitment to reduce the time spent paying taxes and social insurance in Vietnam to the ASEAN average of 171 hours by the end of 2015.
Samsung Requests Tax Exemption for its Samsung CE Complex in Vietnam
In a sign of the company’s increasing influence in Vietnam, Samsung has submitted a proposal to Prime Minister Nguyen Tan Dung requesting preferential tax treatment for its new Samsung CE Complex, a manufacturing facility located in Ho Chi Minh City’s Saigon Hi-Tech Park.
Navigating Personal Income Tax in Vietnam
Paying Personal Income Tax (PIT) is one of the key financial obligations that employers and employees have in Vietnam. In this article, we attempt to clarify some of the key regulations and tax rates involved with the payment of PIT.
PIT Update: Vietnam Implements 50 Percent Reduction in Personal Income Tax for Individuals Working in Economic Zones
On October 20, 2014, Vietnam implemented a 50 percent reduction in personal income tax (PIT) for individuals who are working in the country’s economic zones. The recent tax change was outlined in the Ministry of Finance’s Circular 128/2014/TT-BTC, replacing Circular 176/2009/TT-BTC.
Vietnam Amends CIT and VAT Through Decree 91
Vietnam has issued amendments to certain provisions related to the country’s corporate income tax (CIT) and value-added tax (VAT). The changes have been laid out in Decree 91/2014/ND-CP and will become effective on October 15, 2014.
Vietnam to Raise Special Consumption Tax on Cigarettes, Beer, and Spirits
Vietnam’s National Assembly Standing Committee (NASC) has announced that the special consumption tax (SCT) on cigarettes, beer, and spirits (a “sin tax”) will be raised on January 1, 2016. SCT is a form of excise tax that applies to the production or importation of specific goods and to certain services.
