Business News

To collect taxes in arrears, the General Department of Taxation has built and assigned tax debt collection tasks in 2017 to every unit from the beginning of 2017 and directed them to apply measures to coercively collect overdue taxes according to the law. 63 tax departments across the country collected VND22,076 billion of taxes in arrears in the year to May 31, equal to 46.7 per cent of tax debt as of December 31, 2016 and up 13.5 per cent over the same period in 2016.

While Vietnamese garment companies think the domestic market is too small, foreign investors consider Vietnam the "new land" to exploit, with the garment market worth US$4.5 billion.

The State Bank of Vietnam is drafting a new circular that will allow non-residents with presence in the country to make deposits in both the Vietnamese dong and foreign currency at local banks without residency requirement.

The Presidential Office on July 12 organized a press conference to announce six new laws which were approved at the third session of the 14th National Assembly.

The State Bank of Viet Nam (SBV) has cut several interest rates for the first time since 2014, in order to support businesses and boost economic growth.

You are invited to attend The Seminar of Business Tax & Regulations 2017. The event will be held on 10 August, 2017 at Novotel Saigon Centre.
• Special offer to HKBAV members: 30% discount for the ticket at selling price VND650,000/Person.

In a bid to support start-up businesses, the Hanoi Taxation Department has deployed a tax agent coordination plan to provide tax procedure-related incentives. As of June 23, more than 10 tax agents registered to support newly established enterprises and those upgraded from business households.

Việt Nam’s garment and textile revenue increased for the first half of this year but experts said the growth has not yet become sustainable.