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Update news tax

Less super-cars to enter Vietnam in the Year of Snake

Analysts believe that not many super-cars would be imported to Vietnam in 2013, because a lot of barriers have been installed which would block the way of the cars to Vietnam.

Private investment funds returning to Vietnam

The investment deal of US$200 million in Vietnamese Masan Consumer Group which has just been announced by Kohlberg Kravis Roberts (KKR) is believed to trigger a new wave of private investment funds returning to Vietnam.

Fee increases make travel firms worried to death

The Ministry of Finance’s decision to raise the fees and charges on travelers has made travel firms worried stiff. They fear that the higher fees would keep travelers away.

It’s now turn for jewelry gold to be put under strict control

The State Bank of Vietnam plans to issue new regulations aiming to tighten the management over the jewelry gold trade. Jewelry gold shops must make re-registration to continue their operation.

The biggest real estate M&A deals in 2012

A lot of investors had to transfer real estate projects in 2012 when their money got exhausted. Though the real estate market was frozen, it is now still the right time to make investment in the real estate sector, when the prices get cheaper.

FIEs’ problems cause headaches to management agencies

Conducting transfer pricing, evading tax, running away with unpaid debts – all of the behaviors of foreign invested enterprises (FIEs) have caused big headaches to the Vietnamese management agencies.

Software firms fear value added tax

The Ministry of Finance plans to put software products onto the list of products subject to the 10 percent value added tax (VAT). If this comes true, this would put big difficulties for software firms.

Taxes and fees raise violent controversy in 2012

While the government weighed and measured out every dong of the bailouts to businesses, ministries tried everything they could to impose higher charges and fees on enterprises, which were nearly at the point of death.

BUSINESS IN BRIEF 29/12

Seafood exports to surf past $6 billion this year; Viet Nam among five biggest investors to Cambodia; Banks face threats despite improved balance sheets; Giants crush mom'n'pop retailers; Income tax exemptions to rise

BUSINESS IN BRIEF 28/12

Mai Linh to sell assets to clear VND500 billion debts; Many firms fail to pay social insurance; Power price hike hits steel, cement producers; Logistics needs 20,000 more laborers; 2013: good time for business startups

Auto manufacturers wish to enjoy treatment like shipbuilders

Domestic automobile joint ventures have expressed their worries that they may have to shut down by 2018, when the import car import tariff reduces to zero percent.

Seafood processors throbbing with anxiety waiting for central bank’s decision

Seafood companies have begged the State Bank of Vietnam (SBV) to allow them to borrow money in foreign currencies until the end of 2013 to help them overcome the current difficulties.

The unique tricks to seduce customers that can be seen only in Vietnam

VietNamNet Bridge – In the context of the low market demand, manufacturers and service providers have to use original methods to attract customers.

Auto distributors say state agency tries to find fault to hinder their business

The Vietnam Register (VR), the national registration agency, has requested enterprises to have sample cars of every consignment of import cars to test their safety.

Adidas Vietnam under the tax authorities’ microscope

The General Department of Taxation has asked the HCM City tax office to review the relations between Adidas Vietnam and a number of companies in the global system of Adidas to determine the costs that this firm declared for tax calculation.

Domestic businesses moaning about difficulties, foreign ones still live well

While domestic enterprises have been falling into decay over the last two years due to the economic downturn, foreign invested enterprises still have been making profit and scaling up their production.

16 FDI firms with transfer pricing signs inspected

The HCMC Tax Department sine early this year has inspected 16 foreign direct investment (FDI) enterprises with transfer pricing signs, collecting VND11.3 billion in taxes and reducing losses reported by these firms by VND368 billion.

Auto, motorbike production to be listed as high technologies?

The automobile and motorbike industries are not the subject to any investment encouragement policies. However, the government has been urged to change the current situation.

No fiscal deal without tax hikes for U.S. wealthy: Geithner

 There is "no possibility" for the United States to put its fiscal house in order without letting tax cuts for the rich expire, Treasury Secretary Timothy Geithner said Sunday.

BUSINESS IN BRIEF 2/12

CG meeting to be held in Hanoi in December; Koreans top foreign travelers list in Vietnam; Industry remains sluggish, inventories high; EU free trade big advantage; Bank chiefs arrested on fraud counts; Price of sugar cane rises $5 per tonne