The amended Corporate Income Tax Law reintroduces tax incentives for investment expansion, which is expected to encourage foreign-invested enterprises (FIEs) to raise their investment capital in the near future. Applause from FIEs It is not until May that the Ministry of Finance will submit the draft amended law to the National Assembly (NA), but many entrepreneurs have expressed their joy at the news... 

The Ministry of Finance is weighing to impose a new tariff on jewelry exports as the current tax rate, which has been applied since 2011, is no longer suitable to the current context. Speaking at a seminar on jewelry market development organized by the Vietnam Gold Business Association in HCMC on Saturday, Nguyen Thi Thanh Hang from the ministry’s tax policy department said that local enterprises... 

Value added tax (VAT) incentives for traders in border-gate economic zones (EZs) should be limited to prevent tax fraud and evasions, the Ministry of Finance proposed. Many cases of taking advantage of the preferential policy for border-gate economic zones to get VAT tax refunds have been discovered. Multiple traders have brought domestic goods from elsewhere into non-tariff zones and then launched... 

Opinions differ between the National Assembly and the Ministry of Finance as to whether corporate income tax should be lowered to 23% or 20%, but economist Pham Chi Lan said the tax should be slashed to 20% immediately. Enterprises in Vietnam are mired in troubles, especially financial distress, so tax cuts will be an effective remedy for them, she said in an interview. Corporate income tax in Vietnam... 

Vietnam last year incurred tax losses amounting to VND4.32 trillion from the smuggling in of some 930 million packs of cigarettes. According to Pham Kien Nghiep, general secretary of the Vietnam Tobacco Association, the lost tax revenue was just VND3.2 trillion in 2008, which means the smuggling of cigarettes into Vietnam has been on the rise. Nghiep said that in addition to the loss of VND4.32 trillion,... 

Vietnam’s four biggest television stations paid a total of VND536 billion in corporate income tax in 2011, according to statistics of the Ministry of Finance. According to the ministry, when amending some articles of the Corporate Income Tax Law, the ministry only proposed reducing the tax to 10% for some print media organizations. It is because print newspapers have encountered many difficulties... 

The expanded investment projects will also be able to enjoy the investment incentives like the ones given before to the initial projects, if the proposal of the Ministry of Finance (MOF) is ratified by the National Assembly. MOF, which is drafting the amended Corporate Income Tax law, has decided to preserve the investment incentives for expanded projects. The draft law with the proposed provision... 

Software enterprises in the country have expressed concerns over a draft value added tax (VAT) law that, if passed, would slap a 10% VAT rate on software products instead of the current 0%. The Ministry of Finance now is sending out the draft of the VAT Law for feedbacks from local agencies. The ministry in the tentative draft plans to treat software as products subject to VAT at a tax rate of 10%,... 

The Ministry of Finance (MOF) has suggested to reducing the car ownership registration tax and delay the plan to collect the kind of fee aimed in restricting private vehicles in circulation. The news has raised the hope that the car market would warm up early the next year. Suggestions believed to help warm up market The suggestions have made to the government as a part of the plan to help enterprises... 

Property firms may be relieved of the pressure of land use fee in the coming time as relevant ministries have promised to remedy the inadequacies in this issue. This was one of the most discussed issues at a seminar aimed to seek solutions for the problems in the HCMC property market held by the HCMC Real Estate Association (HoREA) in the city last Saturday. Under the calculation method given in Decree...