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Update news tax
Big enterprises have been found as evading tax--foreign invested enterprises were involved in transfer pricing scandals, while state owned economic groups repeatedly insist on tax exemption and reduction.
State budget collection in the first nine months of the year met only 66.6 per cent of the annual target.
VietNamNet Bridge – The Ministry of Finance (MOF) has rejected the military telecom group Viettel’s proposal to enjoy the tax incentives like those given to Samsung Vietnam.
India imports more tra fish from Vietnam; Vietnam-Singapore trade turnover picks up; Two localities promote investment in the RoK; Halong-Fangchenggang cruise route back in service
VietNamNet Bridge – The Ministry of Natural Resources and the Environment (MONRE) believes that the progressive taxation would be effective in “overpowering” the investors slow in implementing their projects.
VietNamNet Bridge – From 2018, the import tariffs on the car imports from the AFTA zone under the mode of complete built unit (CBU) will be lowered to zero percent. This will make imports cheaper than domestically assembled cars.
CPI to increase by 6.77% in 2013; Petrol prices slightly decrease; Plastic material import tax hike from 2014; VietinBank gets approval to expand; Smartlink cards increase coverage
VietNamNet Bridge – The online trade now in Vietnam has special characteristics, beginning with “no”: no tax, no clear origin of products and no certificate on product quality.
VNA, Rolls-Royce in talks over aircraft engine deal; Dealing with trade lawsuits; Vietnam, EU end fourth FTA round; Second aircraft spare parts factory to take shape; Anti-dumping probe on stainless imports
VietNamNet Bridge - The authorities have admitted that they do not have accurate data on the volume of illegally-exported ore via the border.
Vietnamese enterprises are staggering, but the Electricity of Vietnam is following up with another blow: the electricity price would be raised by 7 percent in the time to come.
VietNamNet Bridge – High grade mobile models such as HTC One X or Sony Xperia S have seen their values halved just one year after they hit the market.
VAFI calls for tax on trading of gold bars; Excess cement prompts production check; Survey condemns quality of companies' financial reports; VN Airlines announces new S Korea route
VietNamNet Bridge – Though the consumption level has been increasing rapidly, having reached 3 billion liters per annum, Vietnam still has 10 percent of output in excess.
Vietnam, Japan research genetically modified cassava; EuroCham launches Green-Biz 2013; Seafood subject to higher anti-dumping duties; HCM City scheme for exterior bus advertising
Rice importers have threatened to stop buying if Vietnam doesn’t reduce the selling price. But if Vietnam does this, its rice production would suffer, while it would fall from the position of the leading rice exporter.
A new wave of big investors withdrawing capital from securities companies has been noted. Securities companies turn out to be not the geese that lay golden eggs as they previously thought.
Vietnam’s rice exports have got stuck with the high inventory of 2 million tons of winter-spring rice by the end of the second quarter. Meanwhile, it is going to harvest 3.5 million tons of the summer-autumn rice.
More and more big guys in the world have announced their direct investments in Vietnam, which, in the eyes of analysts, shows that foreign investors have confidence on the prosperity of the Vietnam’s economy.
Only spending money on very necessary and highly effective campaigns and using online ads instead of other traditional methods -- businesses have been trying every possible way to save every dong in the current difficult period.