HCM CITY ISSUES NEW LAND DIVISION REGULATIONS
HCM City People’s Committee has issued new land division regulations which allow large plots of land to be divided into smaller plots, including land plots that have been part of delayed plans that have yet to be implemented.
VAT REFUND PROCESS NEEDS SIMPLIFYING: EXPERTS
Experts have urged simplifying the procedures to receive refunds on value-added tax (VAT) for foreign tourists. Speaking at a seminar on VAT refunds on Wednesday in HCM City, Dr. Pham Trung Luong, vice chairman of the Viet Nam Tourism Education Association, said that VAT refunds encourage tourism and boost visitors’ spending, but the procedures to receive refunds in Viet Nam was unclear and inconsistent.
DELOITTE: TAX ALERT - VIETNAM CUSTOMS AND GLOBAL TRADE ALERT A FRESH PERSPECTIVE
Customs legislation of all levels (Law, Decree and Circular) are currently under review, of which some are expected to be issued and effective in the soon time. By this Alert, we would like to update the Client 02 of the main proposed changes that may have significant impact to your business, specifically:
POLICIES COME INTO FORCE SINCE DECEMBER
A string of new policies on administrative penalties on measurement, management of State budget on external activities, and supervision of stock transactions will come into effect since December 2017.
NEW CROSS-HOLDING RULE TO HIT BANKS
A new law is set to ban bank owners in Vietnam from taking up senior positions at non-financial firms, a move aimed at overhauling the banking sector, which has been mired in cross-holding controversy.
HCM CITY SETS ENVIRONMENTAL PROTECTION LEGAL FRAMEWORK
HCM City has improved environmental protection by completing a legal framework for the purpose and, in recent times, refusing licences for polluting plants and generally tightening environment management and oversight, and improving management of rivers and canals.
PROPERTY MARKET STAYS STRONG
Strong economic growth since 2015 has created a thriving domestic property market that is likely to continue next year, said Construction Minister Pham Hong Ha.
The Minister told the first annual Vietnam Real Estate Forum in Hanoi this week that the market’s growth had made significant contributions to the country’s socio-economic development.
BANKS PROSPER
Many commercial banks in Vietnam have achieved profit of trillions of dong and are on the right track for the whole year’s target. Tendency of retail customers and consumer loan development takes place at all banks, creating a driving force for increasing profits.
