Business News

[20-10-2015] Residents of high rise apartment buildings are concerned that management boards are squandering maintenance fees. According to the law, the owner of an apartment has to pay an extra two percent of the total apartment sale price for the maintenance of facilities inside the building.

[15-10-2015] Along with the warming up of the property market, idle money was eyeing resort property as a second home and an investment with promising returns. Industry experts found that owning a resort property as a second home was becoming a popular trend amid the country's socio-economic development boosting citizens' income, urging them to look for investment channels for their idle money.

[14-10-2015] Amidst the recovery of the property market, complicated procedures and capped profits have deterred investors from converting their projects into social housing projects, noted the HCM City Real Estate Association. The situation has put developers of many commercial projects that were registered in the past three years to be converted into social housing projects in a dilemma.

[16-10-2015] On 12 October 2015, the Hong Kong Government published an update regarding its proposal for the implementation of automatic exchange of information ("AEOI") in Hong Kong. This update identifies certain changes the Government has adopted into its proposal following the comments it received during a public consultation process that took place from April to June this year.

[16-10-2015] Recently, Hanoi Department of Taxation ("HDT") and Ho Chi Minh Department of Taxation ("HCMDT") have issued a number of Official Letters ("OL") guiding VAT liability on income of foreign contractors from the transfer of trademark-use rights (OL No. 3159/CT-TTHT dated 15 April 2015 and OL No. 53638/CT-HTr dated 14 August 2015).

[13-10-2015] The Vietnam Chamber of Commerce and Industry (VCCI) will propose solutions to the controversial region-based minimum wage hike, the director of the Bureau for Employers’ Activities at the organization said.

[14-10-2015] The Ministry of Transport is planning to pilot a transport trading floor for the first time this month. "It is an e-commerce trading floor on which transport companies, logistics service providers and commodities owners can post their information on services and commodities that need transporting," Tran Quang Binh, director of Transport Department under the Directorate for Roads of Viet Nam, explained to Thoi bao Kinh te Viet Nam (Viet Nam Economic Times)

[12-10-2015] The Trans-Pacific Partnership (TPP) deal will have a positive impact on the domestic real estate market, while the property market has recovered in the third quarter, experts said. The TPP deal has been struck after five years of negotiations.