PM pledges all possible support to workers
The government will offer all possible support to businesses, start-ups and create jobs for workers, prime minister Nguyen Xuan Phuc has said. He made the statement during a working session in Hanoi yesterday with the Presidium of the Vietnam general Confederation of Labour (VGCL) to discuss work between the government and VGCL and set tasks […]
Real estate market may cause great damages to the economy if risks occur
Real estate is currently the channel that attracts the most capital. The information that the government is working on housing credit support programme along with the recently adopted bad debt settlement resolution have made the market to be more exciting. The housing credit support package is just being studied now. As per experts, the aforementioned […]
Vietnam’s employers, unions fight again over wage increase
Businesses started with a low offer of 5 percent while the labour federation insisted on 13.3 percent. Discussions for the annual wage increase have started, and as expected, the business group at the table, the Vietnam Chamber of Commerce and Industry, has come in with a relatively low offer of 5 percent for 2018. That […]
Over 61,000 new enterprises established in six months
Hanoi (VNA) – In the first two quarters of this year, 61,276 enterprises were formed, with total registered capital of over 596 trillion VND (more than 26.2 billion USD), according to the Ministry of Planning and Investment’s National Enterprise Information and Registration System.The figures showed a rise of 12.4 percent in the number of enterprises and […]
Zero-dong banks promote themselves as fully state-owned banks to attract customers
In 2015, the State Bank of Vietnam (SBV) decided to compulsorily acquire the entire shares of GPBank, OceanBank and VNCB at zero dong. After the acquisition, SBV transformed their operation models into 100 percent state-owned limited liability banks and appointed personnel from Vietcombank and Vietinbank to support, renaming VNCB into CBBank, and changing the brand […]
New regulations to prevent conflicts of interest in corporate governance
From August 1, members of the board of directors, supervisors, director or director general, and other managers of a public company will be required to make public their related interests as prescribed by law.Such is provided in Government Decree No. 71 signed on June 6, providing corporate governance regulations applicable to public companies. Thanh Nien […]
Gov’t raises depositors’ insurance compensation to VND75 million
The maximum insurance payable to a depositor for all deposits in an insured organisation will be raised to VND75 million (US$3,289) from VND50 million from August this year. Under Decision 21/2017/QD-TTg, issued last week by Prime Minister Nguyen Xuan Phuc, the insured deposit amount, which is paid by the Deposit Insurance of Viet Nam (DIV), […]
High-tech transfers gain tax breaks
Firms that transfer high technology and conduct technological innovations in Vietnam are expected to enjoy special financial incentives in the future. According to the draft amendments to the Law on Technological Transfer, firms will get special tax incentives if they import machinery, equipment, materials, and means of transport into Vietnam that have yet to be […]
Environmental protection tax: appropriate solution for environmental problems
According to the Ministry of Finance (MOF), from 2012-2016, state budget’s expenditures on environmental protection were 26,371 billion vnd per year on average, higher than environmental protection tax revenues of 21,197 billion vnd/year on average. Retail price of petroleum in Vietnam is lower than those in other bordering countries and ASEAN countries. Photo: H. […]
Uncleared goods are not considered as tax debts
During delivery of goods for preservation, goods which are not cleared, still under the supervision of the Customs officers are not considered as tax debts. Customs operations at the Customs Branch for processing and investment management, under the Customs Department of Ho Chi Minh City. Photo: Thu Hoa That was the response of the […]