Business News

[23-07-2015] Many housing developers are circumventing the law to profit from the national real-estate bailout programme, said vice-chairman of HCM City Real Estate Association, Nguyen Van Duc. The programme was set up to provide homes for low-income earners, but there is evidence that many people with considerable assets are fraudulently taking advantage of the scheme.

[21-07-2015] On 15 June 2015, the Ministry of Vietnam has issued Circular 92/2015/TT-BTC (“Circular 92”) providing guidance on implementation of Decree No. 12/2015/ND-CP dated 12 February 2015 amending and supplementing a number of Personal Income Tax (“PIT”) regulations. Circular 92 will take effect from 30 July 2015 and will be applied from the tax year 2015.

[21-07-2015] A preferential tax rate of 0 per cent will be imposed on imported materials, ancillary parts and components used for manufacturing major IT products from August 13, 2015. This was stated in Circular No 101, issued on June 29, 2015, by the finance ministry (MoF).

[17-07-2017] The Vietnam General Confederation of Labor has proposed the National Wage Council consider increasing the region-based monthly minimum wage by VND350,000-550,000 next year, or 16.76%, on average.

[19-07-2015] The pick-up of the property market has triggered bubble fears, but State management agencies said the market would be closely watched to prevent it from happening again. Construction Minister Trinh Dinh Dung recently said the market recovery, reflected in the rising number of successful transactions and soaring prices, was not the result of speculation.

[16-07-2015] On 7 July 2015, the United States of America signed in Washington D.C an income tax treaty with Vietnam. The tax treaty, although not yet in force, marks a positive and substantive development in bilateral economic relations since the normalization of relations between the two countries 20 years ago.

[14-07-2015] Dong Nai Port in the southern province of Dong Nai hopes to be able to handle 20 million tonnes of goods a year by 2020, four times the current capacity. The port is expected to be one of the leaders in the country in terms of goods handling capacity, said the director of Dong Nai Port JSC, Nguyen Thi Bach Mai.

[13-07-2015] Seven large-scale logistics centers will be up and running in different parts of the country in the next five years as envisaged in a master zoning plan for national logistics development until 2020 and with a vision towards 2030.