Border gate area planning associated with digital transformation needs to prioritize human resources, equipment, and infrastructure

Border gate area planning associated with digital transformation needs to prioritize human resources, equipment, and infrastructure

VCN - According to Lang Son Customs Department, to implement the master plan of the land border gate area associated with the goal of digital transformation, in which, to ensure successful implementation of the Customs Development Strategy until 2023, Bui
Proposal to reduce registration fees to restore growth of domestic automobile industry

Proposal to reduce registration fees to restore growth of domestic automobile industry

VCN - Facing the significant decline in auto market sales in the last months of 2023 and early 2024, the Ministry of Finance is asking for opinions from ministries, central agencies and relevant agencies on continuing to reduce registration fee to restore
VAT reform promotes sustainable development of the agricultural sector

VAT reform promotes sustainable development of the agricultural sector

In the revised Draft Law on Value Added Tax (VAT), the conversion of fertilizers and specialized machinery and equipment serving agricultural production to applying 5% VAT
Customs implements VAT reduction policy from July 1st

Customs implements VAT reduction policy from July 1st

To implement the contents relating to customs field, General Department of Vietnam Customs requested local customs departments to reduce VAT for group of commodities as stipulated at Decree 72/2024/NĐ-CP.
Amend the Law on Corporate Income Tax to ensure stable revenue sources for the budget

Amend the Law on Corporate Income Tax to ensure stable revenue sources for the budget

The amendment of the Law on Corporate Income Tax (CIT) aims to overcome inadequacies and overlaps, ensure stable revenue sources for the state budget, and contribute to restructuring state budget revenues
List of imported and exported medicine and medicinal ingredients identified commodity codes

List of imported and exported medicine and medicinal ingredients identified commodity codes

VCN - When Circular 09 takes effect from July 26, 2024, a series of circulars will be invalid.
Hundreds of tons of imported raw cashew nuts stuck in quarantine

Hundreds of tons of imported raw cashew nuts stuck in quarantine

VCN – A company is facing problems with plant quarantine regulations when carrying out procedures to import over 384 tons of "raw cashew nuts, originating from Tanzania" from a bonded warehouse in Dong Nai.
Extend deadline for paying Special Consumption Tax on domestically produced and assembled cars

Extend deadline for paying Special Consumption Tax on domestically produced and assembled cars

VCN - The Decree stipulates that the payment deadline for the Special Consumption Tax for the Tax terms of May, June, July, August and September in 2024 for domestically produced and assembled cars.
Extend the deadline for paying taxes and land rent in 2024

Extend the deadline for paying taxes and land rent in 2024

VCN - For corporate income tax, extend the tax payment deadline for the temporarily paid corporate income tax amount of the second quarter of the 2024 corporate income tax period of enterprises and organizations subject to the extension.
Tax payment deadline for domestic cars extended

Tax payment deadline for domestic cars extended

The Government has decided to extend the deadline for special consumption tax payment for domestically manufactured or assembled automobiles.
13 cases must register for tax at Tax office

13 cases must register for tax at Tax office

VCN - The Ministry of Finance is collecting comments on a draft Circular guiding tax registration to replace Circular 105/2020/TT-BTC. According to the draft, in case the National Population Database proactively transmits information to the Tax Database w
Considering to impose 5% of VAT on fertilizers

Considering to impose 5% of VAT on fertilizers

Under the draft amended Law on Value-Added Tax (VAT), fertilizers are expected to be included in the category of goods subject to VAT at a rate of 5%
Fixing VAT rates with fertilizers brings dual benefits to "3 houses"

Fixing VAT rates with fertilizers brings dual benefits to "3 houses"

The proposed amendments to the VAT Law for fertilizers, if implemented, have the potential to alleviate many of these difficulties, providing enterprises with better opportunities
Regulations on bad debt trading, settlement revised

Regulations on bad debt trading, settlement revised

The State Bank of Vietnam (SBV) has issued Circular 03/2024/TT-NHNN on bad debt trading and settlement of the Vietnam Asset Management Company (VAMC) to make the work more effective.
Policy on business registration to be revised

Policy on business registration to be revised

The revised decree (No. 01/2021/NĐ-CP) aims to streamline lots of processes, creating maximum favourable conditions for enterprises, respecting the autonomy of enterprises and protecting the legitimate rights and interests of the company.
Proposal to extend the special consumption tax payment deadline for domestically produced and assembled cars

Proposal to extend the special consumption tax payment deadline for domestically produced and assembled cars

Total amount of special consumption tax (SCT) on domestically produced and assembled cars, if extended, is about VND 8,560 billion.
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Chile officially issues electronic C/O form VC from November 1, 2024

Chile officially issues electronic C/O form VC from November 1, 2024

VCN - The General Department of Customs has just sent a notice to the local customs departments related to electronic Certificate of Origin (C/O) in the Vietnam - Chile Free Trade Agreement (FTA)
Adding tax exemption conditions in the draft revised Law on Corporate Income Tax

Adding tax exemption conditions in the draft revised Law on Corporate Income Tax

VCN - Practice has raised the need to amend and supplement the Law on Corporate Income Tax (CIT) to suit the development of the domestic and foreign economy and society. According to the assessment, the completion of the draft Law on Corporate Income Tax
Increasing penalties to reduce violations in independent auditing

Increasing penalties to reduce violations in independent auditing

VCN - According to data from the Ministry of Finance, Vietnam currently has around 2,400 practicing auditors who are certified to perform audit services, with over 220 audit firms certified to provide these services.
Amending the Law to create the best conditions for state-owned enterprises

Amending the Law to create the best conditions for state-owned enterprises

VCN - The Draft Law on State Capital Management and Investment in Enterprises was approved in principle at the 9th Session (May 2025), will be submitted to the National Assembly for the first comments at the 8th Session (October 2024) and is expected to t
Tax increase for alcohol, beer, tobacco should go with combat against smuggling and tax evasion

Tax increase for alcohol, beer, tobacco should go with combat against smuggling and tax evasion

VCN - The Government suggests that it is necessary to develop regulations on special consumption tax that adhere to the principle of promoting production and business, economic development and meet the requirements of protecting the environment and people
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