It is necessary to build a national database on cross-border trade and transport
15:23 | 29/03/2024 Regulations
VCN – Build a national database on cross-border trade and transport to store and share information to facilitate cross-border trade and transport as well as improve the efficiency and effectiveness of state management.
Removing difficulties in tax exemption and refund policies for export processing enterprises
14:48 | 27/03/2024 Regulations
VCN – The Customs agency has received many proposals from businesses about answering and guiding policies on tax exemption, import tax and VAT refund for export processing enterprises. The General Department of Customs has responded and provided instructions for each specific case.
Reviewing the list of scrap that is temporarily suspended from temporary import and re-export business
15:41 | 24/03/2024 Regulations
VCN – Scrap is a sensitive item with many potential risks of environmental pollution, directly affecting human health and the ecosystem. Therefore, strict management measures are needed to avoid the risk that Vietnam become a scrap gathering country in the world.
New law expected to boost financial leasing
14:05 | 22/03/2024 Regulations
The law, which will take effect from July 1 this year, allows financial leasing companies to establish subsidiaries to handle and exploit bad debt assets. It also states that small financial leasing deals with value under VNĐ100 million do not need to control the purpose of capital use.
5% VAT on fertilisers to create fairer market: domestic producers
14:03 | 22/03/2024 Regulations
The absence of VAT on fertilisers has prevented domestic producers from declaring and deducting input VAT, which leads to higher cost of domestically produced fertilisers, by an estimated 5-8 per cent, and makes them vulnerable in competition from imported fertilisers.
Why not reduce export tax on fertilizer products to 0%?
09:37 | 21/03/2024 Regulations
VCN – Clarifying a number of contents related to the draft Decree amending and supplementing a number of articles of Decree No. 26/2023/ND-CP on Preferential Export Tariffs, Import Tariffs, List of Goods and Rates Absolute tax, mixed tax, import tax outside the tariff quota regarding the export tax rate for some types of fertilizers, the Ministry of Finance has clarified the reason why it does not adjust the export tax rate for this product.
Ho Chi Minh City Customs proposed to reduce VAT
09:54 | 20/03/2024 Regulations
VCN – Ho Chi Minh City Customs Department proposed that the Ministry of Finance advise the Government to apply a reduction in the Value Added Tax (VAT) rate of 2% for all groups of goods and services which currently subject to the 10% VAT rate, uniform at the stages of import, production and consumption.
Limiting the “power” of major shareholders under the Law on Credit Institutions (amended)
13:52 | 15/03/2024 Regulations
VCN – The Law on Credit Institutions (amended) has tightened the maximum ownership ratio and lending ratio to limit the influence of shareholder groups as well as minimize risks from credit concentration for banks.
VCCI proposes zero tax rate to be maintained for exported services
15:59 | 13/03/2024 Regulations
The Vietnam Chamber of Commerce and Industry (VCCI) has proposed a zero-value added tax (VAT) rate to be maintained for exported services, over worries that tax hikes would undermine the competitiveness of Vietnamese providers against foreign rivals.