The change in APA approval authority is expected to shorten processing time and enhance business proactiveness in international tax negotiations.
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.
Despite concerns about the potential "shock" to the industry, companies in the sector have shown resilience, maintaining financial stability and achieving notable business results.
A swift increase in special consumption tax over coming years is expected to exacerbate challenges for alcohol producers, potentially complicating their ability to devise viable business strategies.
Vietnam's Ministry of Finance is proposing a 100 per cent special consumption tax on beer and high-alcohol beverages by 2030 as part of efforts to curb excessive drinking and raise state revenues.
A prominent issue for many Vietnamese businesses concerns the proposed narrowing of the 0 per cent VAT rate for export services.
Phu Quoc Island is an ideal choice for travel and long-term relaxation, with a complete visa exemption policy for international visitors, a temporary stay of up to 30 days, a populous and rich nature, and impressive architecture.
The government of Vietnam decided to temporarily suspend visa exemption for citizens from Denmark, Norway, Finland, Sweden, the UK, France, Germany, and Spain amid complicated Covid-19 outbreak.
The overwhelming dependence on Chinese tourists has made Vietnam’s tourism growth slows down.
Despite the desperate call for visa exemption for international tourists from the private sector, state management bodies insisted that it did not affect the visitor flow into Vietnam.
The number of tax free cars with nine or fewer seats imported last week mostly originated from Thailand and Indonesia with 712 and 397 units, respectively.
Phu My Hung joint venture reported an after- tax profit of nearly VND3.27 trillion, equalling to $140 million in 2016 only and was one of the largest profitable real estate companies in Vietnam.
Netherland based Uber B.V Co., Ltd. has agreed to pay all of its tax arrears equivalent to the amount of $2.4 million to Ho Chi Minh City Department of Taxation after the ride hailing app left Vietnam.
At the recent semi-annual meeting of the taxation sector, Tran Ngoc Tam, Head of the Taxation Department of Ho Chi Minh City admitted that they are coping with difficulties in Uber's tax collection as the company had sold all of its business operation in Vietnam to Grab.
