NA to consider SME support
MoF to recommend CIT cuts to NA meeting starting on October 20 with MPI to propose wide-ranging support package. Tax incentives may be introduced for small and medium-sized enterprises (SMEs) under a government proposal to be submitted to the National Assembly (NA) at its second meeting, opening on October 20. The Ministry of Finance (MoF) […]
Proposed changes to investment law mostly concern foreign investors
The Government Office, the Ministry of Planning and Investment (MPI) and the Vietnam Chamber of Commerce and Industry (VCCI) last month jointly held a seminar in Hanoi to discuss a draft law revising a dozen of laws on business and investment.According to the draft law unveiled at the seminar, 80 articles of the Investment Law, […]
Control of transfer pricing to be decreed
The Ministry of Finance has recently released a first-ever draft decree on management of transfer prices of associated transactions in an attempt to prevent losses of state budget revenues. The draft defines associated transactions as transactions among associated parties in the production and trading process. These transactions include purchasing, selling, exchanging, renting, leasing, borrowing, lending […]
Representative offices in Vietnam
Establishing a representative office in Vietnam is considered a safe initial step before traders conduct a series of complex high-cost legal procedures to establish a wholly foreign-owned enterprise. Market research For any new foreign trader entering Vietnam’s market for the first time, their initial primary purpose might be promoting the brand, getting acquainted with and […]
New policies come into effect in August
A series of policies on sanctioning of administrative violations and coercive implementation of administrative decisions in the customs field, providing the mechanism of autonomy and self-management applicable to public science and technology organizations and guidelines for financial support for guest workers will come into effect since August 2016. Decree No. 45/2016/NĐ-CP on amending a number […]
Conditions for securities trading institutions to make offshore indirect investment specified
The Government on July 1 issued Decree No. 86/2016/ND-CP providing specific conditions on offshore indirect investment of securities trading institutions. Accordingly, a securities trading institution which conducts offshore indirect investment through purchase and sale of securities or other valuable papers or investment via overseas securities investment funds or other intermediary financial institutions must comply with […]
E-commerce development master plan ratified
By 2020, thirty percent of the Vietnamese population will shop online with an annual average per-capita spending of USD 350.Such is highlighted in Prime Minister Decision No. 1563/QD-TTg of August 8, approving the master plan on e-commerce development during 2016-20.The Decision also sets the target that business-to-customer (B2C) e-commerce sales will annually increase by 20 […]
Ministry of Finance proposes tax incentives for SMEs and start-ups
Small- or medium-sized enterprises with an annual turnover of VND 20 billion or less would be likely to enjoy an incentive corporate income tax (CIT) of 17 percent for four years from January 1, 2017, through December 31, 2020, instead of the current 20 percent. This is highlighted in a draft resolution recently prepared by […]
Draft decree sets more conditions on investors wishing to buy SOEs
A strategic investor that wishes to purchase shares of an equitized state-owned enterprise (SOE) must have the same core business lines as the enterprise.This is one among the new conditions on strategic investors which are set by the Ministry of Finance in a draft decree on transformation of SOEs into joint-stock companies. Specifically, under Article […]
Conditions for maritime safety services guided
The Government on July 1 issued Decree No. 70/2016/ND-CP, prescribing conditions for providers of maritime safety services. Accordingly, enterprises providing maritime pilotage services must be established lawfully and have at least 75 percent of their charter capital held by the State.In addition, they are required to have full-time units in charge of maritime pilotage. The […]