WAGES INCREASED FOR LOW-INCOME OFFICIALS
[26-02-2015] The Government has issued a Decree on increasing salaries for civil and public servants, officials working at the armed forces and employees of socio-political organizations with a salary grade at or below 2.34. Accordingly, these subjects will enjoy an 8% added to their monthly wage since January 1, 2015. The additional wage would be calculated using the formula: salary grade x minimum wage (1,150,000 VND) x 8%.
PWC: DECREE 12 GUIDING THE NEW AMENDED TAX LAW
[03-03-2015] The Government issued Decree 12/2015/ND-CP on 12 February 2015 (“Decree 12”) providing guidance on the tax changes approved by the National Assembly under Law 71/2014/QH13 (please refer to ourNews Brief dated 26 November 2014). Decree 12 is effective from1 January 2015.
BUDGET 2015-16 HIGHLIGHTS
[27-02-2015] On 25 February 2015, the Financial Secretary of the Hong Kong SAR Government, Mr John C Tsang, delivered his 2015 Budget. As Mr Tsang outlined, our economy grew 2.3% in 2014, and he projected that our economy would grow 1 - 3 % in 2015. He forecast that the headline inflation rate for 2015 would be 3.5% with an underlying inflation rate at 3%.
IT COMPANIES IN SEARCH OF MORE EXPERTS IN 2015
[11-02-2015] Demand for human resources in the IT industry in HCM City is expected to increase by 15-20 per cent this year, delegates said at a seminar on "Software Testing in The Agile World" held recently in HCM City. HCM City has the highest number of IT firms in the country, according to Vu Anh Tuan, general secretary of the HCM City Computer Association.
PROPERTY RULE HURTS FIRMS, BUYERS
[09-02-2015] The new regulation making it mandatory for property developers to make deposits is hurting both enterprises and home-buyers, as it is expected to be eventually absorbed into the selling price. Le Hoang Chau, chairman of the HCM City Real Estate Association (HoREA), made the remark at a conference to review the real-estate market, which was held in HCM City on Thursday.
INTERNATIONAL INVESTORS HUNT HIGH AND LOW FOR LAND IN HCM CITY
[04-02-2015] Foreign investment funds and real estate developers have been looking for cleared land to purchase as the property market is expected to heat up in 2015. A Luxembourg-based investment fund, for example, has been looking for land plots in districts 8, 9, Thu Duc, Binh Tan, Tan Phu and Nha Be.
PWC: NEW CIRCULAR PROVIDING GUIDANCE ON VIETNAMESE CORPORATE ACCOUNTING SYSTEM
[06-02-2015]The Ministry of Finance (the “MoF”) issued Circular No. 200/2014/TT-BTC providing guidance on the Vietnamese Corporate Accounting System (“Circular 200”) on 22 December 2014, that replaces Decision No. 15/2006/QD-BTC (“Decision 15”) and Circular No. 244/2009/TT-BTC (“Circular 244”).
FOREIGN-INVESTED INDUSTRIAL ZONES THRIVING IN VIETNAM
[03-02-2015] The major difference between Vietnamese-owned and foreign-invested industrial zones (IZs) is that the former aim to lease land to businesses, while the latter, which have had great success, want to provide industrial infrastructure, as required by investors.
