Archive for September 28th, 2005
Two more entities providing the valuation service for SOEs being equitised
The Ministry of Finance issued an official document on September 1 stating that the ministry added two more entities that have enough conditions in providing the service on [...]
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Nationwide application of the Postcode service
The Ministry of Post and Telecommunications issued an instruction on September 16 stating that Vietnam’s post and telecommunication sector will complete the service of [...]
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VAT on goods and services for ODA projects with state’s counterpart capital
Under an official letter on September 14, when selling goods, services for official development assistance (ODA) projects contributed counterpart capital by the state to pay [...]
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Income tax for transfers of equity
The Ministry of Finance issued an official letter on September 16 stating that if businesses transfer part of the equity that has already been invested in other businesses [...]
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Employee bonuses not tax deductible
Under an official letter on September 13, businesses’ bonuses for employees will likely not be calculated as tax-deductible expenses including those bonuses that are [...]
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50% CIT cuts for transferring equity for Vietnam
The General Department of Taxation issued an official letter on September 9 stating that foreign investors that transfer their equity in joint venture businesses for the [...]
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Overpaid VAT deducted from next tax period
Under an official letter on September 19, businesses overpay value added tax (VAT) of a taxation period, the overpaid VAT will be deducted into the amount of payable VAT in [...]
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VAT on sports equipment
The General Department of Taxation issued an official letter on September 19 stating that all kinds of equipment and instruments used for physical exercises in general, [...]
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No CIT incentives for earnings from land use right transfer
Under an official letter on September 19, incomes from land use right transfers and land lease right transfers will not be entitled to preferential corporate income tax or [...]
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CIT exemption for earnings from science and technology development contracts
Businesses are exempted from corporate income tax for earnings from science research and technology development contracts, science and technology information services. [...]
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VAT payment at location headquartered
Under an official letter on September 13, if dependent subsidiaries that are situated in provinces different from the place where their parent businesses are headquartered [...]
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Stiff penalties against automobile tax fraud
The automobile commodity is subject to a value added tax rate of 10%. Under an official letter on September 13, in the case if businesses write incorrectly the VAT rate for [...]
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Basic chemical substances subject to 5% VAT
Under an official letter on September 9, a value added tax rate levied on commodities of basic chemical substances is 5%. It is known that the list of specific chemical [...]
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No VAT cuts and refunds for export commodities not subject to VAT
The General Department of Taxation issued an official letter on September 9 stating if export commodities are not included in the list of commodities subject to value added [...]
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Advertising production services subject to 10% VAT
Under an official letter on September 16, advertising production services including advertisement films and advertisement programmes are subject to a value added tax rate of [...]
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