Significant chances for Vietnam regardless of uncertain TPP
Although the future of the Trans-Pacific Partnership (TPP) agreement is still in question, opportunities for Vietnam are considerable, many experts, officials and entrepreneurs said at a consultation workshop in Hanoi on November 25. Vietnam has reviewed legal regulations in various fields recently to prepare for TPP. Though it is just an initial step, it is […]
FTA commitments open opportunity for Vietnam
(VOVworld)-Joining the Trans-Pacific Partnership (TPP) and signing a Vietnam-EU Free Trade Agreement (EVFTA) will create an opportunity for Vietnam to bring its intellectual property rules in line with international standards. A Vietnam-EU Free Trade Agreement will have a significant impact on Vietnam’s economic and legal institutions, particularly regarding intellectual property. Director of the WTO and […]
To increase fees for issuance of the license to provide international travel services
This is the new content prescribed by the Circular No. 177/2016/TT-BTC issued by the Ministry of Finance on November 01, 2016 providing for fees for issuance of the license to provide international travel services, fees for issuance of tourist guide identification cards, charges for issuance of narrator’s certificates, charges for licensing the establishment of branch […]
Taxable price of natural water used for hydroelectricity generation
On October 28,2016, the Ministry of Finance issued the Circular No. 174/2016/TT-BTC on amending and supplementing point a Clause 4 Article 6 of Circular No. 152/2015/TT-BTC dated October 02, 2015 by the Ministry of Finance providing guidance on resource royalty. Accordingly, from December 12, 2016, taxable price of natural water used for hydroelectricity generation is […]
New regulations on bank transfer confirmation
On October 28, 2016, the Ministry of Finance issued the Circular No. 173/2016/TT-BTC on amending and supplementing the first paragraph of clause 3 Article 15 of Circular No. 219/2013/TT-BTC by the Ministry of Finance (amended by Circular No. 119/2014/TT-BTC, Circular No. 151/2014/TT-BTC and Circular No. 26/2015/TT-BTC by the Ministry of Finance). Bank transfer confirmations are […]
To increase on regional minimum wage from January 01, 2017
On November 14, 2016, the Government issued the Decree No. 153/2016/ND-CP dated November 14, 2016 of the Government providing on regional minimum wage rates applied to employees working under an employment contract, takes effect on January 01, 2017. Accordingly, the regional minimum wage rate applied to employees working for enterprises is VND 3,750,000/ month in […]
To lengthen the term for short-term loans by foreign currency
This content is prescribed at the Circular No. 31/2016/TT-NHNN of the State Bank of Vietnam on amending, supplementing a number of articles of the Circular No. 24/2015/TT-NHNN dated December 8, 2015 of the State Bank of Vietnam on foreign currency loans granted to residents by credit institutions and branches of foreign banks. In particular, short-term […]
General conditions for seagoing ship building
On July 01, 2016, the Government issued the Decree No. 111/2016/ND-CP prescribing business conditions for provision of seagoing ship building, conversion and repair services. In accordance with regulations, from July 01, 2016, a shipyard must have a technical division and a quality inspection division which are separate from each other and meet the requirements on […]
Should the gov’t tax second homes?
While Việt Nam’s Finance Ministry writes a proposal to tax second homes, the Việt Nam News asked our readers to share their thoughts on a potential multiple-home tax. Here are some of the responses: Nguyễn Thanh Hà, Vietnamese lawyer, Hà Nội As far as I know, many countries tax multiple-house owners in order to develop […]