VAT cut to affect price controls on some goods and services: VCCI
HCMC – The Vietnam Chamber of Commerce and Industry (VCCI) has raised concerns that the reduction of value added tax (VAT) will impact the prices of certain goods and services that are subject to government price controls, if detailed guidance is not provided. The Government currently applies
HCMC to apply new mechanism with NA’s approval
HCMC – HCMC, as a special-class city, has received approval from the National Assembly to pilot a new mechanism and special policies for development and promises to make every effort to implement it effectively. As the majority of the deputies present at the sitting voted in favor, the National
Draft decree on auto registration fee reduction submitted to Government
HCMC – The Ministry of Finance has sent a draft decree to the Government, proposing a 50% registration fee cut for domestically manufactured and assembled cars. The ministry submitted the draft Government decree after receiving feedback from the Ministry of Justice on its contents. If approved by
Nearly 10 hours needed for each business inspection in 2022 – report
HCMC – Each company inspection last year required an average of 9.8 hours and a cost of VND1.8 million, according to the Administrative Procedure Cost Index 2022 (APCI 2022) report. The most time-consuming phases were file preparation and product quality testing, which took 1.8 hours and 3.4 hours
U.S. aircraft carrier set to visit Vietnam
HCMC – The USS Ronald Reagan, the ninth Nimitz-class nuclear-powered aircraft carrier, is scheduled to arrive in the central beach city of Danang this Sunday for a six-day friendship visit to Vietnam, announced the Vietnamese Ministry of Foreign Affairs. Pham Thu Hang, spokeswoman for the Ministry
Tax authorities urged to accelerate VAT refunds for businesses
HCMC – The General Department of Taxation has requested local tax authorities to expedite the processing of value-added tax (VAT) refund requests by businesses. In accordance with the guidance of the Prime Minister and the Ministry of Finance, the General Department of Taxation issued official
Deferment of excise tax payment allowed for local auto businesses
HCMC – The Government has issued Decree 36, allowing local auto manufacturers and assemblers to extend their payments of special consumption tax or excise tax until November of this year. Under the decree, local auto makers with outstanding special consumption tax amounts payable for the tax
Hydropower plants report higher water levels
HCMC – Water levels at all hydropower reservoirs in Vietnam have risen above critically low levels, according to Vietnam Electricity (EVN). As of June 20, the reservoirs at Lai Chau, Son La, Ban Chat, and Tuyen Quang hydropower plants recorded levels ranging from 4 to 438 meters above the dead
Momo and ZaloPay dominate cashless payments in Vietnam
HCMC – MoMo and ZaloPay e-wallets accounted for the highest share of the Vietnamese e-wallet market in the first quarter of this year, with 68% and 53%, respectively, according to a Connected Consumer report. The report also highlighted other popular e-wallets such as ViettelPay, ShopeePay, VNPay,
Government urges swift resolution to electricity shortage in June
HCMC – The Government Office has released documents highlighting the outcomes of the meeting on measures for maintaining macroeconomic stability, with a strong focus on the urgent need to completely address the electricity shortage in June 2023. The Government Standing Committee has instructed the
Hanoi City to inspect foreign businesses and investment projects
HCMC – The Department of Planning and Investment of Hanoi City is set to inspect foreign investment projects and foreign-invested enterprises in the city this year. As per the plan, a total of 64 projects and 17 foreign businesses will be subject to examination in the near future, as reported by
HCMC to host automotive service industry trade fair
HCMC – HCMC is set to host Automechanika HCMC 2023 from June 23 to 25 at the Saigon Exhibition Convention Centre (SECC) in District 7. The event, organized jointly by Messe Frankfurt (HK) Ltd, Chan Chao International Enterprise Group, and Yorkers Exhibition Service Vietnam, will showcase the