Other Briefings
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.
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.
New CIT Payment Deferral Incentives for SMEs
A decision concerning small and medium-sized enterprises’ corporate income tax became effective on April 6, 2011. This decision from the Vietnamese prime minister allows SMEs to defer their CIT settlements of one year.
Tightening Monetary Policies Threaten Vietnamese SMEs
The Vietnamese government’s monetary policy seems to have been stuck in a dilemma. While raising interest rates and restricting lending amounts seem to be the common ways to exacerbate the high inflation rate, the reduction in loan issuance is directly hurting the business operation and development of the country’s small and medium sized enterprises.
New Issue of Vietnam Briefing: Tax and Foreign Exchange Control
Tax finalization is compulsory for foreign invested enterprises in Vietnam, so we look a little deeper into the procedures for corporate income tax and personal income tax, including documentation, deductible expenses, carrying losses forward, and allocation between headquarters and subsidiaries.
Vietnam’s DongA Bank Seeks Foreign Investors
Mar. 17 – Vietnam’s DongA Commercial Joint Stock Bank is seeking more foreign investors to participate in its capital raising program. The bank announced on Wednesday that it plans to sell 15 percent of its stake to foreign investors during the fourth quarter of 2011, but did not name any possible buyers. As DongA looks […]
Vietnam to Cut Import Duties to 15 Percent
Vietnam’s Finance Ministry plans to cut import duties to 15 percent in April. Currently, the tariff on refined sugar is 40 percent, while raw sugar is taxed at 25 percent.
