Many preferential policies attract investment in special economic zones
VCN – The Draft Law on special administrative units sent to the Government, the Ministry of Planning and Investment (MPI) proposes many preferential policies on land and taxes to enhance the ability to attract investment capital, especially from foreign-invested capital into 3 special administrative – economic units Van Don (Quang Ninh province), North Van Phong […]
Financial Law Day 2017: Strengthening institutional and financial policy reform
VCN- The Minister of Finance has just signed the Decision No. 1572 / QD-BTC on the implementation of the Law Day of the Socialist Republic of Vietnam and Financial Law in 2017. The theme of the Law Day this year was selected by the Ministry of Finance was to “Continue to improve institutions, improve the […]
Ministry of Finance to cut taxes for all small and medium-sized firms
The Ministry of Finance suggested reducing corporate income tax for small and medium-sized firms which make up of 98 percent of total local firms. During the revision of Law on Corporate Income Tax, the Ministry of Finance has proposed to reduce the tax to be in more accordance with the newly-issued Law on Support for […]
Expand scope of electronic invoice application
VCN – in 2010, the Government issued Decree No. 51/2010/ND-CP stipulating invoices for sales of goods and services. In 2014, this Decree was amended and supplemented by Decree 04/2014/ND-CP. Two decrees have changed the method of invoice management, contributed to risk management and matched with international practices. However, due to changes from the actual situation, […]
Solve problems to facilitate and ensure the management requirements for transit goods, transship goods
VCN- Regulations on the customs procedures for transit goods and transship goods are important contents in the draft Decree amending and supplementing Decree 08/2015/ND-CP. Therefore, after many meetings, on 9th August, the General Department of Customs continued to hold a meeting with the representatives of the Ministry of Industry and Commerce, the Ministry of Finance, the […]
Seafood enterprise propose to solve difficulty in paying tax for wastage
VCN – According to information from Vietnam Association of Seafood Exporters and Producers (VASEP), from the reflections of enterprises, VASEP has sent dispatch No.108 to General Department of Vietnam Customs to propose for solving the difficulty in paying tax for wastage, substandard products, and overage raw material that have been imported for export processing. According […]
Decree 45/2016/ND-CP does not stipulate sanctions for processing business
VCN- Regarding the confusion of Binh Duong on administrative sanctions for processing business, the General Department of Vietnam Customs said that the Government’s Decree 127/2013/ND-CP dated 15th October 2013 on sanctions for administrative violations and enforcement of administrative decisions relating to Customs, which was amended and supplemented in Decree 45/2016/ND-CP dated 26th May 2106, does not stipulate […]
Ha Noi Taxation Department: Actively encouraging business households to upgrade to enterprises
VCN- In the first half of 2017, in Hanoi, there were more than 152,000 business households operating, however, the number of business households that moved to current businesses only accounted for a very small percentage. Individual business households have been large, but the tax contribution to total revenues has been quite low (less than 2%), […]
New guidance in the implementation of the Decree on conditions for warehouses and sites
VCN – The General Department of Vietnam Customs has issued a document guiding the provincial and municipal Customs Departments to carry out customs procedures while waiting for handling the cases which fail to meet the conditions prescribed in Decree No. 68/2016 / ND-CP on regulations on conditions for duty-free business, warehouses and sites for Customs […]
How foreign commercial mediation institutions operate in Vietnam
Can foreign commercial mediation institutions be established and operate in Vietnam?According to Vietnamese law[1], foreign commercial mediation institutions that are lawfully established and operating in foreign countries may operate in Vietnam in the form of branches or representative offices.As per the law, branch is a dependent unit of a foreign commercial mediation institution, which is […]