Vietnam, a new dragon of ASEAN
Vietnam deserves to be a “new dragon” of the Association of Southeast Asian Nations (ASEAN), said analysts at a seminar held in Paris , France on January 15 on Vietnam ’s investment potential. They agreed that Vietnam is an open country, which is on the right track to develop strongly and holds great potential of […]
MOF plans to reserve investment incentives for expanded projects
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 […]
Ministry of Finance to submit to the National Assembly cut CIT to 20 percent from July 1, 2013
The government assigned the Ministry of Finance to submit to the National Assembly for consideration and decision of the new corporate income tax (CIT) of 20 percent for small and medium-sized enterprises (SMEs) from July 1st, 2013.The rate would be 10 percent for income from social housing business, applying from July 1st, 2013. The government […]
Singapore, Vietnam DTA Protocol Comes Into Force
The Inland Revenue Authority of Singapore has announced that the second protocol amending the existing double taxation agreement (DTA) between Singapore and Vietnam entered into force on January 11, 2013, and is generally effective from January 1, 2014. The protocol, which was signed on September 12 last year, revises various matters within the original DTA […]
Tax law revision gives lifeline to property investors.
The amended corporate income tax law, which will be submitted to the government this month and forwarded to the National Assembly in May, contains a provision that will help real estate investors offset their losses. The prevailing law bans enterprises from using their profits from production and business activities to cover the losses from real […]
Anti money laundering law is effective from 1st January 2013
The Law on Prevention of Money Laundering (No. 07/2012/QH13)/ has been passed on 2nd July 2012 by the Parliament with an intention to prevent and detect individuals and organizations indulging in acts of money laundering and ensure anti-money laundering. The law is applicable to the individuals, institutions and organizations dealing with financial transactions and business, […]
Circular 210/2012/TT-BTC of the Ministry of Finance dated 30 November 2012 guiding the establishment and operation of securities companies.
Circular 210/2012/TT-BTC guiding the establishment and operation of securities companies (“Circular 210”) has recently been adopted. Circular 210 will take effect from 15 January 2013. Circular 210 shall replace Decision 27/2007/QD-BTC of the MOF dated 24 April 2007 promulgating the regulation on organization and operation of securities companies and Decision 126/2008/QD-BTC of the MOF dated […]
Circular 211/2012/TT-BTC dated 5 December 2012 of the Ministry of Finance implementing Decree 90/2011/ND-CP on the issuance of corporate bonds (“Circular 211”)
Ministry of Finance has recently issued Circular 211 guiding Decree 90/2011/ND-CP of the Government on issuing corporate bonds. Circular 211 shall take effect on 20 January 2013. Circular 211 provides specific provisions on terms and conditions of corporate bonds. Particularly, the issuer must publish the terms and conditions of the bonds in accordance with “the […]
Decree 64/2012/ND-CP dated 4 September 2012 on construction permit (the “Decree 64”).
Decree 64 takes effect on 20 October 2012 and replacing the regulations on construction permit in Decree 12/2009/ND-CP, Decree 83/2009/ND-CP, Decree 39/2010/ND-CP. Like the previous regulation, Decree 64 requires the investors obtaining construction permit before construction except some certain cases. From the date of receiving a valid application file, the construction licensing authority must consider […]