Other Briefings
Corporate Income Tax Returns Due by March
HANOI, Jan. 18 – Corporate income tax (CIT) and transfer pricing (TP) returns in Vietnam are due for submission by March 31. The new regulations introduced in 2009 has changed the way CIT is followed thus companies need to be extra careful to ensure that they are in compliance and possess documents needed to account […]
Tax Agencies to Adjust Car, Bike Prices
Jan. 11 – Local tax agencies will now be allowed to adjust retail prices of cars and motorbikes should they be deemed lower than actual value following a newly drafted decree. Manufacturers and distributors of vehicles will be fined should they be be caught under-invoicing to evade taxes. Tax agencies will base prices on information […]
Central Bank to Keep Benchmark Interest Rate at 8 Percent in January
HANOI, Dec. 29 – Vietnam’s central bank will keep the benchmark interest rate at a one-year high of 8 percent in January to help strengthen the economy. The central bank increased the base rate to 8 percent last month amid signs of increasing inflation, after holding it at 7 percent for 10 months to revive […]
Tax on Securities Investments to be Implemented Next Year
Dec. 17- Vietnam will implement a tax on gains in securities investments beginning January 1, 2010. Stock investors can choose to either pay the flat 0.1 percent duty fee on the value of each transaction, or a 20 percent levy on trading profits reports Thanh Nien News. Implementation of the tax was temporarily suspended because […]
HCMC to Maintain Real Estate Prices
Dec. 4 – Authorities are determined to maintain real estate values in Ho Chi Minh City to maintain stability and avoid the market from overheating. In a new proposal only 17 of the city’s 2,890 streets will have their prices adjusted for 2010. The priciest piece of real estate is still Dong Khoi, Nguyen Hue […]
Virtual Offices Concept Face Government Resistance
Nov. 27 – Government agencies have been slower to accept the virtual office concept leading to delayed processing times for tax and registration documents that use a virtual office address. Virtual offices are a popular option for small businesses because it provides all related business needs from a phone number to a business mailing address […]
Customs Department Announces Dutiable Price Database for Various Goods
Nov. 10 – Vietnam’s General Department of Customs (GDC) has announced a new price database for dutiable products imported into the country and guidelines on how to inspect declared values. The GDC letter instructs customs department on how they can the customs value of imported goods when the declared company prices are lower than than […]
More Tax Breaks Available for Foreign Experts
Oct. 22 – A new circular extends tax breaks and benefits available for foreign experts implementing projects in the country using official development assistance (ODA) effective November 20. The new rule includes relaxing visa policies for foreign experts and their family in addition to an import tax exemption on personal assets for experts residing in […]
Vietnam Raises Minimum Tax on Imported Cars
Oct. 12 – The General Customs Department of Vietnam has set higher minimum taxable prices for more than 600 models of imported cars, following allegations that local importers were under-invoicing to avoid higher taxes. Thanh Nien reports that there have been cases wherein car importers were caught declaring lower prices for imported cars. Taxable prices […]
HSBC: Vietnam Likely to Increase Interest Rates Significantly
Oct. 6 – The State Bank of Vietnam will probably increase its key rate by 400 basis points to 11 percent by the end of 2010, HSBC said in a report Tuesday. The country’s interest rate hike, likely to be the biggest in Asia, is a result of Vietnam’s widening trade deficit, accelerated inflation and […]
