Despite the fact that enterprises understand the importance of VAT (value added tax) refund, they are not aware of all the issues of workload, time-consuming assessment process, as well as potential tax risks to successfully obtain tax refunds and maximise the refund amount. Grant Thornton Vietnam provides a look at the thorny issue of VAT refund in Vietnam VAT refund plays a crucial role in the cash flow and tax budget of both enterprises and the government. For these reasons, Grant Thornton Vietnam would like to share some of its practical experience in this regard. Benefits of VAT refund The significant benefits that enterprises can enjoy when they succeed in getting tax refund include: Reduction in tax cost/tax burden: tax cost/tax burden is always a pressure on enterprises. Thus, the refunded tax amount can help the enterprises to ease their obligation and use the refunded VAT amount to pay other kinds of tax. Available working capital to finance operation and … [Read more...] about How to maximise value added tax refunds
How to get government grants
The tale of the tropical fruit Some ten years ago, a New Zealander living in a provincial town would hardly have known what dragon fruit tasted like, let alone other exotic fruits like rambutan. Yet now, dragon fruit imported from Vietnam has become exceedingly popular at provincial supermarkets in New Zealand, according to Emmet McElhatton, commercial manager of the New Zealand Government-to-Government Partnerships Office (G2G Know-How). McElhatton said that the tropical fruit market in New Zealand is rapidly growing, thanks to the exposure to new flavours that Kiwi travellers have gained after their visits to tropical destinations. “[Our] supermarkets are more willing now to stock different products and consumers are really demanding variety,” McElhatton said. For Vietnamese fruit exporters, the commercial manager stressed that it is important to “get the flavour profile right for all consumers” when looking to export their fresh produce to New Zealand. … [Read more...] about International know how to help local fruit exports
VietNamNet Bridge - "Prime Minister Nguyen Xuan Phuc has quickly solved some practical problems and tried to shake the government apparatus. He started by promoting the settlement of the case related to the Xin Chao café in HCM City. That action showed the head of the Government’s attention to the fate of each individual and each small business and it is also a warning for abuse of power,” said senior economic expert Pham Chi Lan. Prime Minister Nguyen Xuan Phuc has been in office for 8 months and his actions have captured the attention of both the mainstream press and social networks. For an assessment of the PM’s acts and the challenges posed for him and his government in this term, VietNamNet talked to Ms. Pham Chi Lan, an independent economic expert and a member of the advisory group of former PM Nguyen Tan Dung. One of the first things that Prime Minister Nguyen Xuan Phuc did was have a dialogue with businesses. That action showed that he … [Read more...] about “Prime Minister trying to shake government apparatus”
Viet Nam News The collapse of an old house at 43 Cửa Bắc Street, central Hà Nội, that claimed two lives and injured three others early this month, has added to the dilemma of old houses and the management of buildings in cities like Hà Nội and HCM City. The accident also raises concerns over the safety of local people living in degraded areas. A city authority official, citizens and experts share their opinions on the issue with Việt Nam News. Đặng Ngọc Tiến, Deputy Director of the Management Board of Hà Nội's Old Quarter The recent collapse of an old house at Cửa Bắc Street, which killed two people and injured three others, has raised anxiety amongst residents living in the Old Quarter area as it is home to a large number of old houses and buildings. The Management Board of Hà Nội's Old Quarter, in collaboration with the people's committees of 10 wards in the Old Quarter, have revised all downgraded construction works in the area and found 180 deteriorated buildings, which might … [Read more...] about How to get rid off the dilemma?
European leaders will approve measures to overhaul the eurozone's 440-billion-euro bailout fund as they battle to control the sovereign debt crisis, the Financial Times reported Friday. Leaders will agree to expand the European financial stability facility (EFSF), giving it more scope to alleviate the ongoing crisis, according to draft summit conclusions seen by the newspaper. Germany had been reluctant to expand the EFSF's role and expressed doubt over granting the fund the ability to buy government bonds, a measure designed to prevent liquidity crises. "Let?s be clear: We are not in full agreement with our German friends," said a senior French official. "The essential question is the flexibility of the fund." The proposals have been debated within the European Union for many months, but leaders will agree to "concrete proposals" by next month, according to conclusions sent by Herman Van Rompuy, the EU president, to member governments. The EU hopes the measures will give the fund "the … [Read more...] about Eurozone bailout fund to get more powers: report