Vietnam Business News

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• Knocking transfer pricing on the head
• Facebook’s, Google’s agents suspected of evading tax in Vietnam
• From “making guesses” to “giving forecasts”
• Automobile market remains sluggish
• Finance Ministry announces draft personal income tax law
• A foreign fund eyes Vietnam’s real estate
• US changes anti-dumping taxes on Vietnamese tra fish
• Agriculture looks to sustainable development
• WB-AusAID partnership supports Vietnam’s development
• Vietnamese government advised to take cautious steps to ease interest rates

Knocking transfer pricing on the head Posted: 08 Mar 2012 10:12 PM PST Transfer pricing is increasingly raising its ugly head. Deputy minister of Finance Do Hoang Anh Tuan told VIR the tax sector not only took drastic measures to fight transfer pricing at foreign-invested enterprises, but local firms were also subject to strong actions. Transfer pricing is often associated with foreign-invested firms and multi-nationals. Are local firms [...]

Facebook’s, Google’s agents suspected of evading tax in Vietnam Posted: 08 Mar 2012 10:11 PM PST The HCM City Taxation Department has found some signs of Vietnamese companies lending a hand to international social networks, such as Google, Facebook and YouTube, to evade tax or to make wrong declarations about the tax sums to pay. Le Thi Thu Huong, Deputy Head of the HCM City Taxation Department has announced that the [...]

From “making guesses” to “giving forecasts” Posted: 08 Mar 2012 10:10 PM PST In order to show the panorama of the import and export activities in 2012, the Ministry of Industry and trade has carried out research on the special subject, pointing out the advantages and disadvantages and showing the solutions. This is really a painstaking work which has been prepared very carefully, showing the high responsibility of [...]

Automobile market remains sluggish Posted: 08 Mar 2012 10:06 PM PST Vietnam's automobile market looked gloomy in February, with domestically-assembled units dropping by 25 percent compared to the same period last year. According to the Vietnam Automobile Manufacture's Association (VAMA)'s statistics, 6,116 cars were sold in February, showing a decrease of 25 percent compared to the same month of last year. In February, the sale of [...]

Finance Ministry announces draft personal income tax law Posted: 08 Mar 2012 10:05 PM PST As of 2014, those who earn less than VND6 million will not have to pay personal income tax, says the Ministry of Finance. The information was released at a press briefing held in Hanoi on March 8 to announce the draft law on personal income tax. According to the draft law, the proposed deduction is [...]

A foreign fund eyes Vietnam’s real estate Posted: 08 Mar 2012 10:04 PM PST Trinity investment firm, headquartered in Bangkok, Thailand, has established a US$30 million fund to buy distressed entities in Southeast Asia, including Vietnam, and sell their fixed assets for a profit. Vietnam is ripe for such transactions as many international funds are looking to exit the market after buying real estate at high prices during its [...]

US changes anti-dumping taxes on Vietnamese tra fish Posted: 08 Mar 2012 10:04 PM PST The US Department of Commerce (DoC) on March 8 announced its final decision on the seventh preliminary results of administrative review (POR7) for anti-dumping duties on tra fish fillets imported from Vietnam, said the Vietnam Trade Bureau in the US. Under this decision, the DoC chose Bangladesh as the sole replacing country in calculating the [...]

Agriculture looks to sustainable development Posted: 08 Mar 2012 10:03 PM PST The State should introduce policies to ensure agriculture will develop in a sustainable manner and farmers will benefit from agricultural production. The view was shared by domestic and foreign experts at a conference in Hanoi on March 6 to look at outlook for Vietnam's agricultural production. The conference brought together experts from the World Bank [...]

WB-AusAID partnership supports Vietnam’s development Posted: 08 Mar 2012 10:02 PM PST The Australian Agency for International Development (AusAID) and the World Bank (WB) have recently signed a strategic partnership agreement to jointly support Vietnam's long-term socio-economic development. Under the five-year agreement, AusAID will provide AUD58 million to the WB's investment and advisory program to assist Vietnam. The partnership aims to foster an enabling environment for improving [...]

Vietnamese government advised to take cautious steps to ease interest rates Posted: 08 Mar 2012 09:06 PM PST At the statement by the State Bank of Vietnam to ease the interest rates, international analysts have advised the government of Vietnam to take moderate and cautious steps. In fact, the business circle has many times urged the State Bank of Vietnam to ease the interest rates, or businesses would die because of the thirst [...]

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