tax

Update news tax

One and all businesses evade tax, national purse torn

Big enterprises have been found as evading tax--foreign invested enterprises were involved in transfer pricing scandals, while state owned economic groups repeatedly insist on tax exemption and reduction.

State budget facing shortfall as tax collection lags behind target

 State budget collection in the first nine months of the year met only 66.6 per cent of the annual target.

Entreatment for tax incentives refused, Viettel gets disillusioned

 VietNamNet Bridge – The Ministry of Finance (MOF) has rejected the military telecom group Viettel’s proposal to enjoy the tax incentives like those given to Samsung Vietnam.

BUSINESS IN BRIEF 2/10

 India imports more tra fish from Vietnam; Vietnam-Singapore trade turnover picks up; Two localities promote investment in the RoK; Halong-Fangchenggang cruise route back in service

Ministry attempts to apply progressive tax on pending projects

 VietNamNet Bridge – The Ministry of Natural Resources and the Environment (MONRE) believes that the progressive taxation would be effective in “overpowering” the investors slow in implementing their projects.

AFTA-sourced car imports to see sharp falls in prices

 VietNamNet Bridge – From 2018, the import tariffs on the car imports from the AFTA zone under the mode of complete built unit (CBU) will be lowered to zero percent. This will make imports cheaper than domestically assembled cars.

BUSINESS IN BRIEF 24/8

 CPI to increase by 6.77% in 2013; Petrol prices slightly decrease; Plastic material import tax hike from 2014; VietinBank gets approval to expand; Smartlink cards increase coverage

Authorities fail to collect tax from online shops

 VietNamNet Bridge – The online trade now in Vietnam has special characteristics, beginning with “no”: no tax, no clear origin of products and no certificate on product quality.

BUSINESS IN BRIEF 9/7

 VNA, Rolls-Royce in talks over aircraft engine deal; Dealing with trade lawsuits; Vietnam, EU end fourth FTA round; Second aircraft spare parts factory to take shape; Anti-dumping probe on stainless imports

VN may lose millions of USD owing to illegal export of ore

 VietNamNet Bridge - The authorities have admitted that they do not have accurate data on the volume of illegally-exported ore via the border.

Businesses moaning about electricity price increases

Vietnamese enterprises are staggering, but the Electricity of Vietnam is following up with another blow: the electricity price would be raised by 7 percent in the time to come.

Android mobile phones slide down in prices sharply in Vietnam

VietNamNet Bridge – High grade mobile models such as HTC One X or Sony Xperia S have seen their values halved just one year after they hit the market.

BUSINESS IN BRIEF 5/6

  VAFI calls for tax on trading of gold bars; Excess cement prompts production check; Survey condemns quality of companies' financial reports; VN Airlines announces new S Korea route

Oversupply predicted for Vietnamese beer market

VietNamNet Bridge – Though the consumption level has been increasing rapidly, having reached 3 billion liters per annum, Vietnam still has 10 percent of output in excess.

BUSINESS IN BRIEF 25/5

 Vietnam, Japan research genetically modified cassava; EuroCham launches Green-Biz 2013; Seafood subject to higher anti-dumping duties; HCM City scheme for exterior bus advertising

Vietnam won’t reduce rice export price

Rice importers have threatened to stop buying if Vietnam doesn’t reduce the selling price. But if Vietnam does this, its rice production would suffer, while it would fall from the position of the leading rice exporter.

Big guys hurry to withdraw capital from securities companies

A new wave of big investors withdrawing capital from securities companies has been noted. Securities companies turn out to be not the geese that lay golden eggs as they previously thought.

Vietnam fears millions of tons of rice unsalable on the world’s low demand

Vietnam’s rice exports have got stuck with the high inventory of 2 million tons of winter-spring rice by the end of the second quarter. Meanwhile, it is going to harvest 3.5 million tons of the summer-autumn rice.

The world’s leading big guys land in Vietnam

More and more big guys in the world have announced their direct investments in Vietnam, which, in the eyes of analysts, shows that foreign investors have confidence on the prosperity of the Vietnam’s economy.

Businesses sparing in ad budgeting

Only spending money on very necessary and highly effective campaigns and using online ads instead of other traditional methods -- businesses have been trying every possible way to save every dong in the current difficult period.