tax

Update news tax

Vietnamese automobile makers ask for more support

Among the incentives, the government is urged to lower the special consumption tax for locally made parts to help them reduce prices to compete with foreign manufacturers.

Samsung seeks preferential treatments for US$220-million R&D center in Hanoi

Samsung wants to change the purpose of the R&D Center or transfer the building and its related land-use rights to another party, in case of necessity.

Most enterprises in VN satisfied with tax administrative reform

Seventy-eight per cent of surveyed enterprises expressed satisfaction with tax administrative reforms this year, up 3 per cent compared to 2016.

Real estate giant Lideco to be fined for billions of VND in taxes

Due to tax violations, real estate giant Lideco has been fined for VND2.3 billion ($100,000).

HCM City YouTuber forced to pay VND1.5b in income tax

The HCMC Tax Department has ordered a YouTuber who earned VND19 billion in personal income from 2016 to 2018 via videos uploaded on YouTube to pay VND1.5 billion in back taxes, the local media reported.

Tax implications of cross-border trade

"Decree 20 also gives the tax authorities the power to use internal databases for TP assessment purposes in the case of a taxpayer being deemed non-compliant with the requirements of the decree."

Tax, investment changes concern foreign firms

 The changes in tax policy and investment incentives are the issues of greatest concern for foreign investors in Vietnam, said Bui Ngoc Tuan, Deputy General Director of the Audit and Advisory firm Deloitte Vietnam at a workshop on in Hanoi on July 10.

Strong State coffer depends on tax revenue

 VietNamNet Bridge – Professor Dr Le Xuan Truong, a senior lecturer of tax in the Accademy of Finance, speaks to the Hai quan (Customs) newspaper on various ways to prevent losses in the State budget.

Tax, customs policies remain roadblocks to Vietnamese enterprises

 While acknowledging the Government’s efforts in tax reforms, many enterprises say cumbersome tax and customs procedures are blunting the country’s advantage in low-price labour. 

Amazon.com wins $1.5 billion tax dispute over IRS

 Amazon.com Inc on Thursday won a more than $1.5 billion tax dispute with the Internal Revenue Service over transactions involving a Luxembourg unit more than a decade ago.

Vietnam works with Russia to realize ‘low-cost’ car dream

VietNamNet Bridge - Automobile joint ventures between Russia, Belarus and Vietnam are expected to be set up soon.

Finance Ministry attempts to raise taxes as budget face shortfall

VietNamNet Bridge - The receipts from tax collection are increasing steadily year after year, but are never enough to cover expenses. Experts have warned that higher taxes and fees will burden people and businesses.

5,000 tariff lines to go under Vietnam-EAEU FTA

 The Ministry of Finance has completed tax tables on preferential import tariffs to prepare for Vietnam’s commitments in the free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU).

Vietnam MPs discuss Google, Facebook, Uber evading tax

VietNamNet Bridge - National Assembly Deputies have urged the Ministry of Finance to check current laws on tax payment management for services provided across the border such as Facebook’s and Google’s.

Many farmers give up as US chicken sells at dirt-cheap prices

Vietnamese farmers, who suffered from big losses for a long time due to high input costs and low selling prices, cannot hold out anymore. Cheap chicken imports from the US have dealt a final blow, forcing them to give up farming. 

Investors and securities firms struggle with tax

 VietNamNet Bridge – Investors and securities firms are struggling with two taxes the Government imposes on their bonus shares, Dau tu chung khoan (Securities Investment) newspaper reported earlier last week.

Viet A Bank eyes one of two Besra’s gold mining companies

VietNamNet Bridge - The Quang Nam provincial authorities have suggested allowing Viet A Bank to take over one of two gold mining companies belonging to Besra Group which owe large sums to the local taxation agency.

The facts behind the report on a 50-percent reduction in housing inventory

VietNamNet Bridge - The Ministry of Construction (MIC) reported that the real estate market has warmed up as apartments have been selling well, thus reducing the inventory considerably. However, analysts have expressed doubt about the figures.

Rice products bring fat profits to investors

VietNamNet Bridge - More than 150 instant food products made of rice are available at supermarkets. The industry has been witnessing a steady high growth rate of 20-40 percent per annum in recent years. 

NA denies that Vietnamese bear highest taxes, fees in ASEAN

VietNamNet Bridge - The Chair of the National Assembly’s Finance & Budget Committee, Phung Quoc Hien, recently denied that Vietnamese still have to pay the highest taxes in ASEAN.