Finance ministry okays more tax, customs red tape cuts
The Ministry of Finance has issued decisions approving the removal or simplification of various administrative procedures in taxation and customs.Accordingly, six of the 46 procedures will be removed – one in tax and five in customs – while the remaining 40 administrative formalities will be simplified, with seven in tax and 33 in customs.The decision […]
New regulations set for transfer of real-estate projects
New regulations have been formulated for the transfer of real-estate projects under a new “Law on Real-Estate Business,” which will take effect from July 1. Project investors will now be required to meet certain conditions set for real-estate projects, fulfil conditions for investors and also requirements for project transferees, according to the HCM City-based PLF […]
Travel Firms Bemoan New Immigration Rule
Local travel agencies have voiced outcry over a new immigration rule that requires the period between two visa-exempt entries into Vietnam by foreign passport holders to be at least 30 days. The new rule makes it hard for foreign tourists to take regional tours arranged by local companies. Domestic travel companies had attracted many foreign […]
Vietnam, Eurasian Economic Union to sign FTA in May
An agreement concerning a free trade zone between Vietnam and the Eurasian Economic Union (EEU) may be signed in May, according to Trade Minister of the Eurasian Economic Commission Andrey Slepnev. Addressing the seminar themed “Transportation chain administration in the context of economic crisis”, Andrey said the Union was about to conclude negotiations with Vietnam. In fact, […]
No stashing of money abroad: Party agency
HA NOI (VNS)— High-ranking Government and Party officials should be banned from keeping money in foreign bank accounts and owning property abroad, according to a proposal presented yesterday by the Central Internal Affairs Commission, an agency under the Party Politburo. The Commission held a conference yesterday to discuss ways to revoke property deals by corrupt […]
Payment caps proposed for foreign-investment housing projects
Investors of foreign-investment housing projects, who have not handed over the units to the buyers, will not be allowed to collect more than half of the apartment’s value.This is part of a draft regulation of the construction ministry – prepared on the basis of the law on the real estate business – that is now […]
New rules ease PPP implementation
The government recently released Decree 15 to provide a comprehensive legal framework for public-private partnership projects, replacing the old regulations. Net Le and Loi Huynh of LNT & Partners took a closer look. In November 2010, a pilot scheme of public-private partnerships (PPP) was introduced (Decision 71), which was expected to boost PPP projects in […]
Vietnam to raise environment tax on fuel, as import tariffs set to decrease
The government has gotten the green light to increase fuel’s environment tax rates threefold, expectedly from this May 1, in an attempt to mitigate losses resulted from the upcoming reductions in fuel’s import duties. Under a plan presented to the National Assembly’s Standing Committee on Tuesday, new environment tax rates will be VND3,000 (13 US […]
New policies take effect in March
Six decrees and one circular are scheduled to take effect in March. Retirement pension, social insurance allowance Retirement pension and social insurance allowance applicable for commune-level cadres who retire since January 1, 2015 shall be increased by 8%, according to the Government’s Decree No. 09/2015/ND-CP dated January 22, 2015. The Decree will take effect since […]
Gov’t plans to extend health cover to 75%
HA NOI (VNS) — The Vietnamese Government hopes to achieve 75 per cent health insurance coverage this year and 80 per cent by 2020, Prime Minister Nguyen Tan Dung said yesterday. Dung was speaking at a session to review the implementation of the Law on Health Insurance and the blueprint for universal health insurance. The […]