Other Briefings
Vietnam to Create National Asset Management Company
May. 2 -The Vietnamese government is set to approve a decree that will officially establish a national asset management company to help with the resolution of bad debts in the country. The company has already received the Politburo’s in-principle approval. The central bank has submitted its detailed plans for the company, which will be called […]
Tax Update: Vietnam Gov’t Approves Amendments to CIT Law
In an effort to boost investment in Vietnamese businesses and to support struggling enterprises, Vietnamese lawmakers have approved the Government’s proposal to reduce the current general corporate income tax (CIT) rate from 25 percent to 23 percent.
Vietnam Central Bank to Inject Capital Into Banking System
Mar. 18 – The Central Bank of Vietnam plans to infuse an additional VND30 trillion into Vietnam’s banking system in order to make further soft loans available for home-buyers. This move hopes to revive the struggling property market and resolve bad debt. The central bank issued a circular late last week in which it clarified that banks will be […]
Vietnam Government Encourages Supporting Industries
By Nguyen Huyen My Mar. 7 – In 2010 and 2011, the Vietnamese Government issued a number of policies to encourage supporting industries, especially those connected to the high-tech sectors (Prime Minister’s Decision No 12/2011/QD-TTg). Supporting industries play a key role in promoting the development of Vietnam’s main industries. Furthermore, the potential to develop Vietnam’s […]
Inflationary Pressure Continues to Build in Vietnam
Feb. 14 – Data from the General Statistics Office of Vietnam has shown that inflation has accelerated from 6.81 percent in December up to 7.07 percent in January, while consumer prices gained 1.25 percent in January (the sharpest monthly gain in four months). Furthermore, the price of health care and pharmaceuticals surged 55.6 percent, education […]
Update: Personal Income Tax Finalization for Foreigners in Vietnam
Feb. 7 – On January 15, the Vietnam General Department of Taxation issued Official Letter 187/TCT-TNCN (OL187) to provide guidance on the finalization of personal income taxes (PIT). Some of the key updates can be found below. 183 Day Rule Foreigners who work in Vietnam do not have to pay PIT if they spend fewer […]
Vietnam Airlines IPO Date Set
HANOI – According to the Vietnamese government, and in line with its state-owned enterprise (SOE) restructuring plans, national carrier Vietnam Airlines is set to list its shares in its first initial public offering (IPO) towards the end of 2013. The move will see the government’s stake in the airline drop to 70 percent, and is […]
Vietnam Reduces Corporate Income Tax to 23 Percent
Jan. 29 – The Vietnamese Ministry of Finance finished drafting its Corporate Income Tax Law last week in a plan to cut current rates from 25 percent down to 23 percent. Corporate income tax (CIT) rates have been adjusted several times over the past nine years: the 2003 CIT law of 2004 decreased rates from […]
Vietnam vs. China Part II: Corporate Income Tax
This is the second article in a series dedicated to comparing the costs and ease of doing business in Vietnam and China from the standpoint of a foreign investor. By Rosario Di Maggio Jan. 22 – Many foreign investors operating in China today are looking at Vietnam as a sort of additional “province” or alternative […]
New Resolution to Postpone Payment of VAT and CIT
Jan. 18 – The Vietnamese government issued Resolution No. 02/NQ-CP on January 7, 2013, introducing a series of measures aimed at removing difficulties for business production, increasing market support, and resolving bad debt. The tax measures introduced in this Resolution will assist those enterprises and individuals facing economic difficulties by postponing the payment of value-added […]
