VIETNAM GARMENT &TEXTILE UNDER TPP IMPACT
[05-04-2016] "Vietnam’s garment & textile exports used to grow 8 per cent every year when the trade agreements had not been applied and this was still one of the key industries of the economy.
MEASURING LENDING RATE IMPACTS ON CORPORATE INCOME TAX
[04-04-2016] As budgetary overspending is on the rise, to ensure income sources and increase the share of corporate income tax in the total budgetary revenue, the General Department of Taxation issued Decision 225/QD-TCT dated February 4, 2016 on the formation of a research team to measure lending rate impacts on corporate income tax value and propose solutions to enhance tax administration.
CREDIT FLOWS INTO MANUFACTURING SECTOR
[05-04-2016] More bank loans over the past few years have gone to the manufacturing sector, according to a State Bank of Vietnam (SBV) report. The report said bank credit was increased by 5.3% per year to gain an extra 1% in economic growth per annum in the 2006-2010 period.
US$1.3BN HOUSING STIMULUS TO BE EXTENDED
[04-04-2016] Prime Minister Nguyen Tan Dung has approved the State Bank of Vi?t Nam's (SBV) proposal to extend the VNÐ30 trillion (US$1.3 billion) housing stimulus package until disbursement of all associated funds is completed. Dung asked the central bank to complete disbursement of the stimulus package with a preferential interest rate, instead of closing it on June 1.
M&AS PAVE WAY FOR PROJECTS
[05-04-2016] Real estate developers are raising their land funds via mergers and acquisitions as well as stock purchases, instead of conducting land clearances and compensation, which often take time and money. According to Alex Crane, general director of Cushman & Wakefield Vietnam, foreign developers in particular are using mergers and acquisitions (M&As) and buying stakes to raise land funds.
VN TO GRANT ONE-YEAR VISA FOR U.S. CITIZENS
[04-04-2016] The National Assembly will vote for the Government's proposal to extend the validity of temporary visas for US citizens from three months to one year on April 9. The move was decided after State President Tran Dai Quang presented a statement to suggest the NA ratify the Diplomatic Note on Visa Granting between Viet Nam and the U.S on April 4 during the ongoing 11th session of the 13th National Asssembly.
DELOITTE: GUIDANCE ON VAT AND CIT FOR SUPPORTING INDUSTRY
[05-04-2016] On 5 February 2016, the Ministry of Finance issued Circular No. 21/2016/TT-BTC (“Circular 21”) providing detailed guidance on VAT declaration and CIT incentives for organizations and individuals having income from supporting industry as stipulated under Decree No. 111/2015/ND-CP dated 3 November 2015. Circular 21 will be effective from 1 April 2016. Accordingly, Deloitte would like to summarize some notable points of Circular 21 in the attached Alert for your information.
THOUSANDS OF CONTAINERS LEFT AT HAI PHONG PORT
[30-03-2016] The Ministry of Finance will co-ordinate with the Ministry of Transport and Hai Phong Port authority to deal with containers that are lying unused at Hải Phòng Port by the end of April. Cao Trung Ngoan, deputy general director of Hai Phong Port, said nearly 1,000 containers, filled with goods subject for re-export, mostly used tyres, have been left at the port for months.
