Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.
Vietnam's newly issued Decree 91/2024/ND-CP is expected to remove legal barriers hindering the development of eco-tourism, resort, and entertainment projects in forests, paving the way for sustainable tourism growth.
Vietnam's beer market experienced a double-digit decline in 2023, with mid-single-digit declines continuing this year.
Prime Minister Nguyen Xuan Phuc said that to achieve this result, one of the issues that need to be addressed is Decree on the credit policy for agricultural and rural development No.55/2015/NĐ-CP dated June 9, 2015.
The Vietnamese automobile market is said not to be really stable because of negative impacts incurred by requirements of Decree No.116/2017/ND-CP, threatening security of thousands of jobs.
In spite of overcoming tightened harness straps of pollution emission and customs inspection specified in Decree No. 116, the number of duty-free cars imported from ASEAN remains still very limited, causing Vietnamese buyers unable to buy low-cost car in this month as expected.
The Decree No. 116 leading to a continuous downward trend for import cars has created opportunities for brands like Nissan, Mazda or Kia to increase their prices as consumers preferences change to locally assembled car.
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According to European Chamber of Commerce in Vietnam (EuroCham), Vietnam should conduct appropriate solutions to cut costs and administrative workload for automotive enterprises, aligning with the target of administrative reform in Vietnam as well as the objectives and principles of the EU - Vietnam Free Trade Agreement (EVFTA).
In the first two months of 2018, CBU (completely built-up) vehicles imported in Vietnam dropped sharply, equivalent to 3.5 per cent in number and 11.5 per cent in value compared to the same period last year.
The Decree No. 116/2017/NĐ-CP and the Circular No.03/2018/TT-BGTVT have recently created a controversy among domestic assemblers, producers and importers.
The incurring matters of the Government’s Decree No. 116/2017/ND-CP as well as the unavailable circular guiding the Decree have caused many difficulties to automobile importers.
The Government’s Decree No. 116/2017/ND-CP which came in full force and effect on January 01, 2018, is viewed as a “new barrier" to protect domestic automobile industry from the automobiles imported from ASEAN entitled to a zero per cent tariff, according to automobile importers and exporters.
According to Toru Kinoshita, chairman of Vietnam Automobile Manufacturers' Association (VAMA) cum president of Toyota Motor Vietnam, under the impact of some conditions regulated in Decree 116, auto companies may face difficulties and have to postpone Complete Built Up (CBU) importation.
From January 1st, 2018, the tax on imported cars will increase by thousands of dollars as the application of a new decree, hindering the entrance of used cars to Vietnam.
