WHAT ARE CEILING AIRFARES FROM MARCH, 2024?
From the beginning of March, the ceiling price for tickets on domestic flight routes will be increased, according to Circular 34 recently issued by the Ministry of Transport. Under the circular, the price framework for basic economy class passenger transportation services will be amended. The ceiling airfares will remain unchanged at VND 1.6 million per […]
WHAT ARE NEW HIGHLIGHTS OF LAW ON BIDDING 2023?
Composed of 96 articles arranged in 10 chapters, the 2023 Law on Bidding creates a complete and consistent legal framework on bidding, procurement and use of state capital. Composed of 96 articles arranged in 10 chapters, the 2023 Law on Bidding (the Law) regulates the state management of bidding activities; competence and responsibility of agencies, […]
EXTENSION OF LAND RENTAL: WHO ARE THE SUBJECTS?
Extension of land rental 2023 is the important content prescribed in Decree No. 12/2023/ND-CP. In accordance with Article 3, Decree No. 12/2023/ND-CP, the subjects entitled to an extension of land rental in 2023, including: (i) Enterprises, organizations, households, business households, and individuals conducting production activities in the following economic sectors: (ii) Enterprises, organizations, households, business […]
Does business households that pay taxes by the presumption method issue invoices?
Business households that pay taxes by the presumption method and wish to use invoices whenever the tax liability arises (In accordance with Point b, Clause 2, Article 6, Circular No. 78/2021/TT-BTC). In particulars, Clause 2, Article 6, Circular No. 78/2021/TT-BTC prescribes: “2. Business households and business individuals using e-invoices include a/ Business households and business […]
Are goods traded in the export processing zones liable for excise tax?
The export processing zone is considered a “micro foreign country” Goods that are traded in the export processing zones are considered as exported goods, accordingly, domestic goods in the export processing zones are not excise tax-reliable objectives. In particulars, according to Clause 20, Article 4, Circular No. 219/2013/TT-BYC: “Non-tariff zones include: Export processing zones, export processing […]
How to refund tax for authorized enterprise for auto part imports?
VCN- If an enterprise registers for participation in the Tax Incentive Program and authorizes another enterprise to import auto parts, the Customs authority which receives the dossier will refund overpaid tax amount to the account of the authorized enterprise upon final settlement in the case where it is eligible for enjoying 0% tax rate in […]
How to handle for postal items that are refused to be received by sender?
The General Department of Vietnam Customs has issued a document to instruct Vietnam Post Corporation on handling postal items sent to foreign countries that are refused to be received by sender. Earlier, Vietnam Post Corporation said that there were many backlogged postal items that were sent to foreign countries but could not deliver to receivers, […]
How to manage banned goods, when new provisions have not been issued?
VCN- The Law on Foreign Trade Management has taken effect since 1st January 2018, stipulating the nomenclature of banned imported and exported goods, and nomenclature of imported and exported goods under the licenses and conditions. But currently, the Government has not issued the nomenclatures. Clause 3, Article 112 in the Law on Foreign Trade Management abolishes […]
FDI: Why are low budget revenues collected from high invested capital?
Since the beginning of 2017, FDI into Vietnam has increased, especially the number of FDI enterprises increasing their investment capital. But the contribution to the State budget of the FDI sector has shown signs of slowness compared to the estimate, even the lowest contribution compared to the two remaining sectors, including private enterprises and State-owned […]
Customs declaration is not required for liquidation of fully depreciated goods?
This regulation has been considered at the revised draft Circular No. 38/2015/TT-BTC to facilitate enterprises when declaring the change of using purpose and transferring the domestic consumption for import goods which are not subject to tax or tax exemption. Commenting on the revised draft Circular No. 38/2015/TT-BTC of the Ministry of Finance, some enterprises request […]