Vietnam Legal RSS News Feed by Intellasia.net

Tougher taxes ordered after alarming trade gap

Tue, 13 May 2008 07:00:00 PST

Prime minister has ordered ministries of finance, industry and trade and State Bank of Vietnam to carry out some measures to reduce the ballooning trade deficit, which spiked 70% yoy to US$11.07 billion on import spending of US$29.36 billion and exports of just US$18.28 billion.

Regulation on discount and re-discount of valuable papers

Sat, 10 May 2008 07:00:00 PST

Pursuant to State Bank of Vietnam's Decision No 12/2008/QD-NHNN concerning the amendment of some clauses of scheme on discount and re-discount of valuable papers enclosed with Decision No 898/2003/QD-NHNN dated August 12, 2003, the rule mentions on the implementation of valuable paper discount and re-discount in order to boost the social and economic development and national monetary policies.

Ministry okays private participation in site clearance

Fri, 09 May 2008 07:00:00 PST

The Ministry of Construction has agreed with a scheme prepared by HCM City in allowing the establishment of joint-stock companies in charge of site clearance which so far has been covered by State-owned public companies.

MoF considers scheme of advancing capital to petroleum importers

Tue, 06 May 2008 07:00:00 PST

Due to the world's oil price has soared since the start of 2008, Vietnam lost 2.24 trillion dong, reported the finance ministry. In order to reduce the derivative loss and subsidisation for petroleum enterprises, the ministry proposed the government to set up "Petroleum price stabilisation fund" and SBV to ensure capital supply to petroleum importers.

Special consumption tax on automobiles to be raised

Tue, 06 May 2008 07:00:00 PST

The Ministry of Finance was licensed to increase the special consumption tax on automobiles from the current level of 50%. By the end of April, the ministry asked the government's approval on raising special consumption tax on some kinds of cars that account for a high ratio in automobile imports at the moment.

Preferences for relatives of polices and non-commissioned officers

Wed, 30 Apr 2008 07:00:00 PST

The government recently issued the Decree No 54/ND-CP ruling the welfare policy for relatives of police and non-commissioned officers that are serving for people's public security in a certain time.

Draft bill sets clear parametres for portfolio investment

Tue, 29 Apr 2008 07:00:00 PST

Foreign investors must conduct all stock transactions through a single dong account opened with a licensed bank, according to a Ministry of Finance plan submitted to the government for approval last week.

Tax-deductible expenses on marketing and advertising proposed to rise to 15%

Sat, 26 Apr 2008 07:00:00 PST

In line with the latest draft Law on CIT, which was recently submitted to Standing Committee of National Assembly, tax deductible expenses of small and medium sized enterprises on advertising, promotion, marketing has been raised to 15% as calculating total corporate income (CIT). The ratio to restrict the expense item is still kept at 10% of total expenses like the current Law on CIT.

Vietnam arrests blogger who covered Olympic torch demonstrations

Fri, 25 Apr 2008 07:06:00 PST

A prominent democracy activist whose blog featured reports on demonstrations against the relay of the Beijing Olympic torch has been arrested by Vietnamese police, local press reported Wednesday, a week ahead of the torch's scheduled arrival in HCM City on April 29.

Hanoi to try distributors of teen star's sex clip

Fri, 25 Apr 2008 07:05:00 PST

Four students who spread video clips of a teen soap opera star having sex with her boyfriend on the internet last year will be tried for “dispersing illicit materials” at a court in Hanoi next month.

PIT ordinance yet amended

Wed, 23 Apr 2008 07:00:00 PST

General Statistical Office reported that the dong depreciated by 45.6% in 2001-2007 and slid 9.19% in Jan-March 2008. But to date, the starting level subject to PIT has not yet been adjusted.

Import tariff on new cars continues rising to 83%

Wed, 23 Apr 2008 07:00:00 PST

Vice finance minister Do Hoang Anh Tuan on April 21 signed a decision approving the increase in import tariff on new automobiles from 70% to 83%. The tariff level will be applied on customs declaration from today April 22.

Ministry adjusts import, export duties

Wed, 23 Apr 2008 07:00:00 PST

The Ministry of Finance has adjusted import and export duties on automobiles and certain other goods, effective immediately, in an effort to stabilise prices and ease the trade deficit.

PIT ordinance yet amended

Wed, 23 Apr 2008 07:00:00 PST

General Statistical Office reported that the dong depreciated by 45.6% in 2001-2007 and slid 9.19% in Jan-March 2008. But to date, the starting level subject to PIT has not yet been adjusted.

Import tariff on new cars continues rising to 83%

Wed, 23 Apr 2008 07:00:00 PST

Ministry adjusts import, export duties

Wed, 23 Apr 2008 07:00:00 PST

The Ministry of Finance has adjusted import and export duties on automobiles and certain other goods, effective immediately, in an effort to stabilise prices and ease the trade deficit.

PIT ordinance yet amended

Wed, 23 Apr 2008 07:00:00 PST

General Statistical Office reported that the dong depreciated by 45.6% in 2001-2007 and slid 9.19% in Jan-March 2008. But to date, the starting level subject to PIT has not yet been adjusted.

Import tariff on new cars continues rising to 83%

Wed, 23 Apr 2008 07:00:00 PST

Ministry adjusts import, export duties

Wed, 23 Apr 2008 07:00:00 PST

The Ministry of Finance has adjusted import and export duties on automobiles and certain other goods, effective immediately, in an effort to stabilise prices and ease the trade deficit.

M&A regulations for foreigners to be streamlined

Tue, 22 Apr 2008 07:06:00 PST

Foreign ownership cap differences between the Investment and Securities Laws will no longer hinder foreign companies wanting to invest in Vietnam through mergers and acquisitions (M&A).