Other Briefings
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 […]
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.
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 […]
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 […]
Vietnam and New Zealand Sign DTA
Aug. 6 – Vietnamese President Truong Tan Sang and New Zealand Governor-General Rt Hon Sir Jerry Mateparae met in Hanoi yesterday to sign a new double tax agreement (DTA) that seeks to further boost economic relations and clarify tax-related issues between the two countries. The development and signing of this DTA comes quickly on the […]
Foreign Exchange Control in Vietnam
Aug. 5 – Foreign exchange control is the paramount concern for all foreign investors entering into Vietnam, as regulations on capital inflows and outflows have a great influence on operations and profit. These transactions include transferring capital into and out of the country, opening and using bank accounts, borrowing foreign loans and paying foreign debts, dealing […]
Vietnam Establishes Management Firm to Buy Bad Debt
Aug. 1 – Last week, in a move to try to fix its credit-starved economy, Vietnam officially launched the Vietnam Asset Management Company (VAMC) by way of Decree 53/2013/ND-CP. The VAMC will essentially buy up any bad debts that its country’s banks hold. The VAMC, colloquially known as the “bad debt bank”, finally commenced operations […]
New Issue of Asia Briefing: An Introduction to Tax Treaties Throughout Asia
In this issue of Asia Briefing Magazine, we look at the various types of trade and tax treaties that exist between Asian nations. These include bilateral investment treaties – which are somewhat unfashionable, yet still the major focal point of bilateral trade between many smaller emerging nations – and also the meatier double tax treaties and free trade agreements that directly affect businesses operating in Asia.
Vietnam Issues Changes to Import Price Database
Jul. 4 – The Vietnamese General Department of Customs recently issued “Official Letter No. 3286/TCHQ-TXNK (hereinafter referred to as ‘Letter’)” on June 14, 2013, to announce changes to the country’s import price database on various goods. Specifically, the Letter adds 24 new categories to the list of items that are subject to import duties. The Letter […]
Vietnam Lowers CIT Rates
Jun. 27 – Vietnamese lawmakers amended Vietnam’s corporate income tax (CIT) rate last week by reducing it to 22 percent across all industries starting January 1, 2014. It will then further be reduced to 20 percent on January 1, 2016. Previously it was proposed that the CIT rate would only be reduced to 23 percent. “A wide […]
