TAX AUTHORITIES DRAFTING DECREE ON TRANSFER PRICING
[05-07-2016] The Ministry of Finance (MoF) is in the process of building a decree on preventing transfer pricing. Speaking with VIR after the government’s recent regular meeting for June 2016, Nguyen Van Phung, head of the Big Corporate Tax Management Department of the General Department of Taxation under the MoF, said the department and related agencies were in the process of building a decree on determining the market price in transactions between related parties.
CIRCULARS ISSUED TO SIMPLIFY ADMINISTRATIVE PROCEDURES IN BANKING SYSTEM
[05-07-2016] The State Bank of Viet Nam (SBV) has issued 14 circulars to eliminate many business conditions in banking prior to the enactment of the Law on Investment and Law on Enterprises which began on July 1.
VISA EXEMPTION FOR VISITORS FROM FIVE COUNTRIES EXTENDED
[04-07-2016] The Vietnamese Government has decided to extend visa exemptions by an additional year for tourists from the United Kingdom, France, Germany, Italy and Spain. The decision, Decree 56/NQ-CP, was issued on June 30.
AEC INTEGRATES LOGISTICS NETWORK
[05-07-2016] Foreign logistic firms are expediting their efforts to tap into the market’s growth following the establishment of ASEAN Economic Community. Clement Blanc, managing director of DHL Global Forwarding Vietnam, told VIR that one key aspect of achieving the AEC is to create an integrated transport market to increase connectivity and help spur ASEAN’s goals of economic integration.
SEEKING TECHNOLOGICAL SOLUTIONS FOR VIETNAM GARMENT AND TEXTILE INDUSTRY
[01-07-2016]Seen as one of the greatest beneficiaries from new generation free trade agreements (FTAs), the garment and textile industry is still, however, importing up to 80 per cent of input materials from other countries, mostly from non-TPP and non-EVFTA countries.
TENANTS ALLOWED TO DECLARE TAXES ONLINE
[01-07-2016] The General Department of Taxation recently submitted a pilot process of administering, registering for use and declaring electronic tax applicable to individual house renters to the Ministry of Finance.
BANKING SECTOR KICK-STARTS ACTIONS TO SUPPORT BUSINESSES
[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).
CPI RISES 0.46 PCT IN JUNE
[27-06-2016] The consumer price index (CPI) in June saw a month-on-month rise of 0.46 per cent and a year-on-year growth of 2.4 per cent, reported the General Statistics Office (GSO). The GSO announced that the CPI expanded 1.72 per cent on average in the first half of 2016.
