To repeal 03 forms in the requesting dossier for grant of the license for producing of chemical
On June 18, 2020, the Ministry of Industry and Trade issues the Circular No. 13/2020/TT-BCT on amending, supplementing and repealing some regulations on business conditions underthe management of the Ministry of Industry and Trade. Accordingly, the trader which exports minerals in a quarter shall make a report and submit it to the Industry Agency instead […]
Tax alert: Interest expense deduction limit raises to 30 percent from 20 percent to support businesses
The Vietnamese Government has recently issued Decree No. 68/2020/ND-CP (“Decree 68”) in order to amend and supplement Point 3, Article 8 of Decree No.20/2017/ND-CP with regards to the deductibility of interest expenses for the calculation of Corporate Income Tax. Some noteworthy points in the new Decree are as follows: First, the calculation of interest expense […]
Vital modifications under the new Law on Investment 2019
1.New foreign ownership threshold: The New Law on Investment drop-down on the foreign ownership threshold from previously being 51% to now being 50% to determine if an economic organization with foreign-owned capital must satisfy conditions prior to the investment. Please note that these conditions apply to economic organizations with foreign-owned capital establishing economic organizations, contributing […]
Decree 52/2020/ND-CP on investment in construction and business of golf courses
On 27 April 2020, the Government issued Decree 52/2020/ND-CP regulating on investment in construction and business of golf courses. Accordingly, the Decree specifies the principles and conditions for golf course construction and business along with the prohibited behaviors in this activity. Particularly, there are noticeable conditions and regulations for organizations and individuals who are intending […]
From june 15, the area of an 18 holes standard golf course must not exceed 90 hectares
On April 27, 2020, the Government issues Decree No. 52/2020/ND-CP on investment for construction and commercial operation of a golf course. To be specific, the area of a standard golf course (18 holes) must not exceed 90 hectares (on average, not more than 5 hectares per hole); the area of a golf course project being […]
THE GOVERNMENT ISSUED RESOLUTION TO SUPPORT FOR THE PEOPLE AFFECTED BY COVID-19 PANDEMIC
The Government has issued Resolution No. 42/2020/NQ-CP dated April 09, 2020 on solution to support the people affected by Covid-19 pandemic. Regulated entities including employees, employers, enterprises, people with meritorious services to the revolution; and poor and near-poor households. In which, the duration of support for the above entities depends on the actual situation of […]
Covid -19 epidemic impact: Enterprises face difficulties because C/O form E cannot be submitted according to the deadline
VCN- Due to the impact of Covid-19 impact, many import and export enterprises have suffered difficulties because there is no C/O form E submitted according to the deadline. This greatly affects the plans of enterprises According to Point b, Clause 1, Article 7 of Circular 38/2018/ TT-BTC of the Ministry of Finance, if a certificate […]
Handling of administrative violations in tax, treasury and customs agencies reviewed
VCN- The Ministry of Finance has just issued Decision No. 179 / QD-BTC on theplan to review the implementation of the Law on handling of administrative violations in 2020. Under the plan, the Ministry of Finance will focus on reviewing the implementation of the provisions of Law on handling of administrative violations and guiding documents […]
Tobacco imports under tariff quota in CPTPP adjusted
VCN – The Ministry of Industry and Trade issued Circular No. 03/2020/TT-BCT stipulating tobacco imports under the tariff quota described in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The circular adjusts imports of tobacco HS code 24.01 under the tariff quota described in the CPTPP. Specifically, imports of tobacco HS 24.01 are adjusted […]
General Department of Vietnam Customs actively solves problems of C/O
VCN – To facilitate the import-export activities of enterprises, the General Department of Vietnam Customs has actively solved problems relating to certificates of origin (C/O). Vinataba – Philip Morris Co., Ltd. remarked that, currently, enterprises have six preferential C/Os that were verified in 2015, but they have not received the verification results from the General Department of Vietnam Customs. Enterprises […]