August 23, 2011
Vietnam only allows a maximum advertising cost of 10 percent of total expenditures The European Chamber of Commerce has requested the government to eliminate a cap on advertising and promotional expenditures, saying the restriction is not good for competition. EuroCham said the cap should be removed or at least applied only to certain industries if [...]
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Posted in Business | Comments Off
August 8, 2011
An individual income tax exemption for those earning less than VND9 million a month has been approved The National Assembly Saturday agreed to cut a variety of taxes as proposed by the government in an attempt to boost the economy. The tax measures, passed by 82 precent of the NA members, include an individual income [...]
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Posted in Politics | Comments Off
July 22, 2011
The Vietnamese government’s proposal to cut a variety of taxes raised questions at the National Assembly on the effectiveness of the measures in boosting the economy. The government is suggesting tax reduction and exemption measures worth VND4.2 trillion ($204 million) in 2011 and VND2.2 trillion in 2012, Finance Minister Vu Van Ninh told the [...]
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July 17, 2011
Taxpayers need to be supported through tough economic times, legislators said Several lawmakers are unsatisfied with proposed tax cuts for the poor, which they say will not lift enough pressure off the backs of struggling working families. Others are also standing up against proposed cuts for big companies. The government is seeking legislative approval from the [...]
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July 9, 2011
Factory workers change shifts at the Thang Long Industrial Park outside of Hanoi. The government is seeking approval from the National Assembly to suspend tax collection from those with a monthly income of less than VND9 million (US$440). The Ministry of Finance has submitted a proposal on tax breaks that will last through the [...]
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July 7, 2011
Many stock investors have incurred losses over the past two years The government will seek approval at the National Assembly’s upcoming session to grant tax breaks to low income people as well as stock investors through the end of 2012. Deputy Finance Minister Do Hoang Anh Tuan confirmed the decision at a press briefing late [...]
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June 19, 2011
The finance ministry plans to propose a tax exemption for taxpayers with a monthly income of VND5 million Vietnam’s Ministry of Finance is expected to propose a series of new polices to ease tax burdens in July, Tuoi Tre newspaper reported Thursday. A personal income tax exemption for taxpayers with a monthly income of VND5 [...]
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June 4, 2011
It seemed like a perfectly normal decision when the National Assembly’s Financial and Budgetary Committee confirmed that no adjustments would be made to the current personal income tax law until next year. But the reaction among many people was one of disappointment; for this was something they were hoping and waiting for. The tax [...]
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May 22, 2011
Vendors line the streets outside Dong Xuan Market in Hanoi, Vietnam, on Monday, March 14. The government recently decided to extend the deadline for corporate income tax payments for over 200,000 small and medium-sized enterprises this year. The decision was right and necessary, considering the companies are facing difficulties caused by the rise in prices [...]
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May 2, 2011
A recent proposal by the Ministry of Finance to raise taxable income threshold to VND5 million (US$238) from the current VND4 million ($190) will not help ease financial burdens in the context of rising consumer prices, according to experts. Le Quoc Dung, vice chairman of the Economic Commission of the National Assembly, said the [...]
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