Business News

[01-07-2016] The banking sector will apply comprehensive monetary policies and banking operations to improve credit access, focusing on enhancing national credit ratings, according to the State Bank of Viet Nam (SBV).

[23-06-2016] The General Department of Taxation recently released Official Document No 2264/TCT-TCHQ to update effective double tax avoidance agreements and protocols to which Vietnam is a signatory.

[10-06-2016] To guide the customs valuation of exports and imports, the General Department of Vietnam Customs is drafting a decree to direct the implementation of a number of articles of the amended Law on Export and Import Tax concerning customs valuation of exports and imports.

[01-06-2016] Non-performing loans (NPLs) at credit institutions by the end of the first quarter this year increased to 2.62 per cent from 2.55 per cent late last year. This news was released in a new report from the State Bank of Viet Nam.

[31-05-2016] Monetary policies from now until the year end must give top priority to ensuring the safety of the banking system and controlling inflation while still trying to support businesses. This new directive was issued by the State Bank of Viet Nam (SBV).

[26-05-2016] The central bank should evaluate the possibility of raising the interest rate on US dollar deposits instead of keeping it at zero per cent as it currently is to avoid side effects. This advice was suggested by industry experts according to Phap luat thanh pho HCM (HCM City Law) newspaper.

[25-05-2016] The Law on the Export and Import Tax (as amended) has been passed by the National Assembly and shall take effect from September 1, 2016. This amendment includes new tax regulations. Preferential tax rates are separated into preferential tax rates, special tax rates and ordinary tax rates.

[23-05-2016] Pressure from ensuring liquidity, meeting rising credit demands and purchasing Government bonds has caused commercial banks to hike their savings interest rates to attract depositors.