Tax support policy is a "lift" for business bounceback

Tax support policy is a "lift" for business bounceback

VCN- Sharing with Customs Magazine, economic expert, Associate Professor, Dr. Dinh Trong Thinh highly appreciated the effectiveness of tax and fee reduction measures implemented by the Government and the Ministry of Finance. These policies not only enable
VAT policy for on-the-spot imports

VAT policy for on-the-spot imports

VCN - Article 3 of the 2008 Law on VAT stipulates “Goods and services used for production, trading or consumption in Vietnam are subject to Value-added tax, except those specified in Article 5 of this Law”.
Applying tax on animal feed ingredient faces problems due to specialized regulations

Applying tax on animal feed ingredient faces problems due to specialized regulations

VCN - According to Hai Phong Customs Department, some products such as palm oil, soybean oil, corn starch, sugar, whey, milk,... may be used for many purposes such as direct food for humans or used as raw oil for production of food, paint, plastic product
Ministry of Finance proposes to choose the option of reducing land rent by 30% in 2024

Ministry of Finance proposes to choose the option of reducing land rent by 30% in 2024

The Ministry of Finance has just completed the draft Decree of the Government regulating the reduction of land rent in 2024.
Ensuring reasonableness upon enforcement of regulations in "1 law amending 7 laws"

Ensuring reasonableness upon enforcement of regulations in "1 law amending 7 laws"

VCN - According to the representative of the Vietnam Chamber of Commerce and Industry (VCCI), the Ministry of Finance and the National Assembly Committees are urgently collecting opinions to complete the draft Law amending seven Laws, to ensure that the i
Ensuring global trade security requires cooperation, exchange and processing of information before the goods arrive

Ensuring global trade security requires cooperation, exchange and processing of information before the goods arrive

To meet the requirements of both strict security control and facilitating trade, one of the effective solutions is to cooperate, exchange and process information before the goods arrive
New regulations on foreign indirect investment in Vietnam drafted

New regulations on foreign indirect investment in Vietnam drafted

The State Bank of Vietnam (SBV) is drafting a circular to better manage foreign investment protocols and hopefully make them speedier.
Considering amending regulations on suspension from exit due to tax arrears

Considering amending regulations on suspension from exit due to tax arrears

VCN - To facilitate the implementation of suspension from exit, the General Department of Taxation directs specialized units to study and amend and supplement current regulations to ensure both improving the efficiency of tax debt collection and creating
How to handle export processing enterprises forgetting to open a corresponding import declaration

How to handle export processing enterprises forgetting to open a corresponding import declaration

VCN - From 2014 to 2019, Dragonjet Vietnam Co., Ltd. (headquartered in Que Vo Industrial Park, Bac Ninh) opened 17 on-site export declarations of domestic enterprises, however, the company “forgot” to open a corresponding import declaration. Dragonjet Vie
Food safety rules relaxed for emergency imports

Food safety rules relaxed for emergency imports

Products and goods provided by foreign governments and international organizations for emergency relief to people recovering from storm No. 3 are exempt from state inspection of food safety and quality.
Checking and reviewing the classification of exported copper

Checking and reviewing the classification of exported copper

General Department of Vietnam Customs requests the customs departments of provinces and cities to strengthen the inspection and review of the classification of exported copper.
Amendment of Special Preferential Import and Export Tariff Schedule to Implement CPTPP Agreement for the 2022-2027 Period

Amendment of Special Preferential Import and Export Tariff Schedule to Implement CPTPP Agreement for the 2022-2027 Period

The Ministry of Finance is drafting a decree amending a number of articles of Decree No. 115/2022/ND-CP dated December 30, 2022 of the Government promulgating Vietnam's preferential export tariff schedule and special preferential import tariff schedule to
Must strictly manage duty-free goods

Must strictly manage duty-free goods

The GDVC has just responded to the Binh Phuoc Customs Department to guide Binh Duong Water and Environment Corporation to implement regulations on the management of tax-free imported goods.
Amend the law to protect the rights of accountants

Amend the law to protect the rights of accountants

VCN - Promoting decentralization, delegation of authority, improving state management capacity in the field of accounting, enhancing the responsibility of leaders, etc will ensure the legitimate rights of accountants, prevent corruption and waste.
Simplification is not enough, enterprises need stronger administrative reform

Simplification is not enough, enterprises need stronger administrative reform

Vietnam Chamber of Commerce and Industry (VCCI) said that regulations on administrative procedures need stronger reform.
Propose a 15-30% reduction in land rents in 2024 for people affected by typhoon Yagi

Propose a 15-30% reduction in land rents in 2024 for people affected by typhoon Yagi

VCN - To support people and businesses with more resources to cope with difficulties and challenges in production and business due to the impact of typhoon No. 3 (Yagi), the Ministry of Finance proposed a 15-30% reduction in land rents in 2024.
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Abolishing regulations on tax exemption for small-value imported goods must comply with international practices

Abolishing regulations on tax exemption for small-value imported goods must comply with international practices

VCN - The Ministry of Finance said that the abolition of regulations on tax exemption for imported goods valued at less than VND1 million must comply with international practices in the context of the growing trend of cross-border e-commerce activities.
Policy adaptation and acceleration of digital transformation in tax and customs management

Policy adaptation and acceleration of digital transformation in tax and customs management

VCN - In order to contribute to economic growth, tax, customs and logistics management policies need to ensure high adaptability, stability and predictability so that they require little amendment or supplementation.
Implement regulations on special preferential import tariffs under VIFTA

Implement regulations on special preferential import tariffs under VIFTA

VCN - Accordingly, the GDVC directs local customs departments to disseminate and instruct Customs officers and enterprises to carry out customs procedures, and study the provisions of Decree 131/2024/ND-CP to implement customs declaration in accordance wi
Perfecting tax policy for goods traded via e-commerce

Perfecting tax policy for goods traded via e-commerce

Customs authority is actively coordinating with policy advisory units of the Ministry of Finance to research and review regulations on tax exemption for import and export goods transacted via e-commerce
Are belongings of foreigners on business trip to Vietnam exempt from tax?

Are belongings of foreigners on business trip to Vietnam exempt from tax?

VCN - That is the question of Nhat Viet Relocation Company Limited, which has just been answered by the Customs Department and given specific instructions on providing a confirmation of residence of foreigners on business trip to Vietnam to follow tax exe
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