Tag: tax
Personal income tax law delay unlikely: official
Taxpayers at the Ho Chi Minh City Tax Department in District 3 earlier this week A proposed delay in the Personal Income Tax Law, due to take effect next week, is unlikely to be approved by the National Assembly, a senior official has said. National Assembly Office chief Tran Dinh Dan said as the parliament had ratified... Read more
Vietnam abolishes rice export tax
The Ministry of Finance has removed a tariff on rice exported at US$800 per ton or more, following a request from the Vietnam Food Association (VFA) and exporters. The rice export tax was introduced on July 21, with rice sold for $600 a ton or more taxed at VND500,000 to VND2.9 million ($29-$170) a ton.In mid-August,... Read more
Formosa gets tax discount for steel mill
Formosa Plastics Group, Taiwan’s biggest diversified industrial company, has been granted a corporate tax discount for an US$8 billion steel mill in Vietnam, according to a government statement. Formosa will pay 10 percent of its profit from the venture as tax over the lifetime of the project, less than half the standard rate of 25 percent, according... Read more
Official calls for delay in personal income tax law
Residents waiting for their documents to be processed at the Ho Chi Minh City Tax Department in District 3 earlier this month The Personal Income Tax Law is due to take effect in a week but one senior government official has suggested delaying the tax to stimulate investment and consumer spending in the face of continued economic... Read more
Export tax on rice come to a halt
VietNamNet Bridge – The Finance Ministry has asked related agencies to not impose absolute export tax rate on rice any more, starting from December 19, 2008. VietNamNet Bridge – The Finance Ministry has asked related agencies to not impose absolute export tax rate on rice any more, starting from December 19, 2008. Previously, under a decision... Read more
Steel prices to rise again on higher tax
VietNamNet Bridge – On January 1, 2009, VAT on steel production will be raised from 5% to 10%, while scrap steel have been increasing in price, all of which has led to forecasts about steel price increases early next year. The sale prices applied by domestic enterprises are currently staying at VND10.8-11.3mil/tonne, not including VAT. As such, the sale... Read more
Ministry lifts tax on fertiliser for export
VietNamNet Bridge - The excise tax on fertilisers manufactured for export has been lifted under a decision issued by deputy minister of Finance Nguyen Hoang Anh Tuan on December 15. VietNamNet Bridge - The excise tax on fertilisers manufactured for export has been lifted under a decision issued by deputy minister of Finance Nguyen Hoang Anh Tuan on December 15.The... Read more
Automobile joint ventures complain about high ownership registration tax
VietNamNet Bridge – The Vietnam Automobile Manufacturers’ Association (VAMA) has lodged a complaint with Hanoi authorities about the high ownership registration tax on less-than-10-seat cars. The document sent to the city’s authorities wrote that VAMA believes that the measures to stimulate the demand and encourage production prove to be very... Read more
Viet Nam, Hong Kong ink tax pact
VietNamNet Bridge – Hong Kong yesterday joined the long list of countries and territories to have entered into a double taxation agreement with Viet Nam. The daily flights will make Dragonair the fourth carrier to operate direct flights between Hong Kong and Viet Nam, following Cathay Pacific Airways, Hong Kong Airlines and Vietnam Airlines.The agreements... Read more
Foreign exporters complain of customs, tax hassles
Foreign-invested exporters in Vietnam complained about the administration of the export tax regime and inefficiency of customs. If they are not reformed, they warned at a meeting last week with government and central bank officials, exports could soon fall by half.Foreign businesses account for more than 40 percent... Read more