DELOITTE: TAX ALERT - VIETNAM CUSTOMS AND GLOBAL TRADE ALERT A FRESH PERSPECTIVE
Customs legislation of all levels (Law, Decree and Circular) are currently under review, of which some are expected to be issued and effective in the soon time. By this Alert, we would like to update the Client 02 of the main proposed changes that may have significant impact to your business, specifically:
POLICIES COME INTO FORCE SINCE DECEMBER
A string of new policies on administrative penalties on measurement, management of State budget on external activities, and supervision of stock transactions will come into effect since December 2017.
NEW CROSS-HOLDING RULE TO HIT BANKS
A new law is set to ban bank owners in Vietnam from taking up senior positions at non-financial firms, a move aimed at overhauling the banking sector, which has been mired in cross-holding controversy.
HCM CITY SETS ENVIRONMENTAL PROTECTION LEGAL FRAMEWORK
HCM City has improved environmental protection by completing a legal framework for the purpose and, in recent times, refusing licences for polluting plants and generally tightening environment management and oversight, and improving management of rivers and canals.
PROPERTY MARKET STAYS STRONG
Strong economic growth since 2015 has created a thriving domestic property market that is likely to continue next year, said Construction Minister Pham Hong Ha.
The Minister told the first annual Vietnam Real Estate Forum in Hanoi this week that the market’s growth had made significant contributions to the country’s socio-economic development.
BANKS PROSPER
Many commercial banks in Vietnam have achieved profit of trillions of dong and are on the right track for the whole year’s target. Tendency of retail customers and consumer loan development takes place at all banks, creating a driving force for increasing profits.
HCM CITY PROPOSES TO EASE HOUSE OWNERSHIP TO OVERSEAS VIETNAMESE
Hindrance on granting house ownership certificates to overseas Vietnamese should be removed to encourage the investment into the local real estate market, Ho Chi Minh City People’s Committee said.
TEXTILE, GARMENT EXPO TO BE HELD IN HCMC
The 17th edition of Viet Nam International Textile & Garment Industry Exhibition and Viet Nam International Textile & Apparel Accessories Exhibition, or VTG 2017 will be held in HCMC from November 22 - 25 with the participation of 400 exhibitors from 14 countries and territories.
