Mixed tax regime not yet applied on beer and alcohol products

Mixed tax regime not yet applied on beer and alcohol products

The Government has decided not to apply the mixed tax regime on beer and alcohol products.
General Department of Taxation reviews draft regulations on loan interest expense cap

General Department of Taxation reviews draft regulations on loan interest expense cap

The GDT said that it has coordinated with six local tax departments to organise a conference to review a draft decree that amends and supplements Decree 132/2020/NĐ-CP on tax management for enterprises with associated transactions.
The Government regulated four land valuation methods

The Government regulated four land valuation methods

The Government promulgated Decree 12/2024/NĐ-CP regulating specifically four land valuation methods.
Government issues new regulations on land valuation

Government issues new regulations on land valuation

The domestic real estate market will have four land valuation methods instead of the current five methods, according to a new decree issued by the Government on February 5.
Proposing to have information sharing mechanism in price management

Proposing to have information sharing mechanism in price management

VCN - In the draft Decree detailing and implementing measures for a number of articles of the 2023 Price Law, the Ministry of Finance has proposed many specific tasks for price stabilization as well as market price analysis and forecasting.
Policy on imported goods for export processing without a processing facility

Policy on imported goods for export processing without a processing facility

VCN - The General Department of Customs has just instructed the Hanoi Customs Department to implement regulations on importing goods for export processing without a processing facility in Vietnamese territory.
Proposing for state-owned enterprises to divest capital from loss-making enterprises

Proposing for state-owned enterprises to divest capital from loss-making enterprises

VCN - The Ministry of Finance is proposing to amend regulations on removing obstacles for enterprises in which the State holds more than 50% of charter capital in the direction of building a legal basis for these enterprises to divest capital from other e
Untangling procedures for companies to import new products

Untangling procedures for companies to import new products

VCN - According to Da Nang Customs Department, during the customs procedures, the department received feedback from companies that want to expand their range of new products but are unsure about the correct customs declaration procedures and wish to avoid
Proposal for state-owned enterprises to divest capital from loss-making enterprises

Proposal for state-owned enterprises to divest capital from loss-making enterprises

VCN - According to the draft report submitted to the Government on the Decree amending Decree 91, the Ministry of Finance said that the Committee for Management of State Capital at Enterprises and Airport Corporation - Joint Stock Company (ACV) have had O

VAT to be reduced by 2% from January 1

The value-added tax (VAT) for most of goods and services will be cut by 2% from January 1, 2024.
Restricting scrap import can affect many businesses

Restricting scrap import can affect many businesses

VCN - According to the Vietnam Confederation of Commerce and Industry (VCCI), regulations restricting scrap import can affect the operations of many businesses, so they need to be regulated according to a specific long-term roadmap.
Restrict the import of scrap can affect many businesses

Restrict the import of scrap can affect many businesses

VCN - According to the Vietnam Confederation of Commerce and Industry (VCCI), regulations restricting scrap imports can affect the operations of many businesses, so they need to be regulated according to a specific long-term roadmap.
The Government clearly stipulates the responsibilities of each agency in preventing and combating counterfeit money

The Government clearly stipulates the responsibilities of each agency in preventing and combating counterfeit money

VCN - The Government signed and promulgated Decree No.87/2023/ND-CP regulating the prevention and combat of counterfeit money and the protection of Vietnamese currency (Decree 87). The Decree takes effect from February 2, 2024.
The output reduction of the Tax Incentive Program for automobile manufacturing and assembly has not been considered

The output reduction of the Tax Incentive Program for automobile manufacturing and assembly has not been considered

VCN - According to the Ministry of Finance, the proposal to continue reducing the output of the current Tax Incentive Program for automobile manufacturing and assembly is not appropriate.
Customs solves 6 problems related to the origin of goods

Customs solves 6 problems related to the origin of goods

VCN – Submission of proofs of origin; examination of proofs of origin on websites; procedures for refusing documents certifying the origin of goods in the CPTPP Agreement... are issues that the General Department of Customs has just guided local customs d
It is necessary to adjust the special consumption tax on harmful goods to health

It is necessary to adjust the special consumption tax on harmful goods to health

VCN - Many opinions agree with the drafting agency's proposal to implement a policy to expand the tax base for products that are not beneficial to health and the environment such as sugary drinks as well as research on increasing special consumption tax (
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Reporting to the National Assembly for considering VAT reduction in the second half of 2024

Reporting to the National Assembly for considering VAT reduction in the second half of 2024

The Government assigned the Ministry of Finance to summarize and evaluate the results of reducing VAT rates to report to National Assembly for consideration and allowing to implementing in the second half of 2024.
The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

VCN - The Ministry of Health, according to its assigned functions, tasks and authority, presides and coordinates with the Ministry of Finance and relevant agencies to urgently review, research, amend and complete the Ministry's regulations on import and e
No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

No need to reduce the output of manufacturing and assembling automobile to enjoy preferential tariff

The Ministry of Finance has responded to the suggestions of VAMA regarding the adjustment of reducing automobile volume to apply a tax rate of 0% for imported components and spare parts used for manufacturing automobile
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

VCN - Enterprises exporting cinnamon essential oil are facing difficulties due to regulations on pharmaceutical trading of the Ministry of Health, leading to hundreds of tons of essential oil being left in stock in raw material areas.
Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

Business suspension of temporary import and re-export of Monazite ores and ore concentrates will be valid on May 13th

The Ministry of Trade and Industry issued Circular 05/2024/TT-BCT regulating the temporary suspension of temporary import and re-export of Monazite ores and ore concentrates business.
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