Archive for February 25th, 2005
Import duty cuts on refined petroleum products
The Ministry of Finance signed a decision amending import duties applied to some commodities belonging to the group 2710 of the preferential import list. Accordingly, import [...]
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Penalties for waterway transport
Under Decree 09/2005/ND-CP by the government regulating settlement of administrative breaches in the domestic waterway transport sector, illegal use of explosives, which can [...]
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VAT and CIT declaration samples
The General Department of Taxation (GDT) issued Official Letter 350/TCT/PCCS dated January 25, 2005 regulating VAT and corporate income tax (CIT) declarations. Accordingly, [...]
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VAT on domestic animal breeds and seeds trading
Domestic animal breeds and seeds are not subject to value added tax (VAT) if businesses running in this field obtain business licenses of domestic animal breeds and seeds. [...]
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Payment of ineligible VAT
Under Official Letter 467 TCT/DTNN dated February 4, 2005 of the General Department of Taxation, if businesses sell goods not subject to value added tax (VAT) and businesses [...]
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Deducting VAT for costs of materials paid by foreign partners
The General Department of Taxation issued Official Letter 473 TCT/DTNN on February 4, 2005 stating that businesses are permitted to receive a deduction of input value added [...]
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VAT on moulds repairing
Under Official Letter 468 TCT/DTNN dated February 4, 2005 of the General Department of Taxation, although producing and trading moulds of all kinds is subject to the value [...]
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PIT refunds
If an authorised tax agency resolves any requests for refunding personal income tax (PIT) applied to high income earners, the agency will have to be responsible for making [...]
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Preferential CIT for newly established businesses
Under the recent instruction of the general Department of Taxation (GDT), preferential policies of corporate income tax (CIT) are, in principle, only applied to any [...]
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Land related compensation
The Hanoi People’s Committee signed Decision 26/2005/QD-UB issuing the regulations on making land related compensations and allowances for residential resettlement under [...]
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Debt relief for households hit by natural disasters
The prime minister signed a decision resettling credit debts of households caused by the 2003 floods in Ninh Thuan province. Accordingly, the prime minister agrees in [...]
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Meeting HACCP standards for food products
If a business that is licensed to produce food products and meets the Hazard Analysis Critical Control Point, HACCP, standards from June 2005, the business will be permitted [...]
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Vinatex to transform seven subsidiaries to limited liability companies
Vietnam Textile and Apparel Corp (Vinatex) has recently submitted the Ministry of Industry an official letter registering to rearrange subsidiary member companies this year. [...]
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Penalties for sports advertising breaches
The Ministry of Culture and Information and the Sports Committee of Vietnam issued an inter-ministerial circular instructing advertising activities in the sports sector in [...]
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Apparel quotas to US
The Ministry of Trade issued Official Letter 0246/TM-DM dated February 21, 2005 to continue to grant apparel quotas to the US based on previous export performance (for the [...]
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