Duc Hoang, journalist I have been living in Hanoi for more than a decade and have to admit that I have got used to the service (or the lack of it) provided by many famous restaurants here. It is a common experience in such places that customers are scolded by the staff or receive chilly greetings from the owners. I have been to such restaurants in the Old Quarter, one of the top tourist destinations in the capital city, more than a few times. I choose to ignore their irritating attitude and try to finish the food with patience. It is not something I am proud of. There was one instance when I wanted to break my rule of not creating a fuss. I saw a group of South Korean customers standing in front of a stall that serves pho. It looked as though they were trying to figure out whether the Vietnamese rice noodle soup was served with pork or chicken. At this pho place, there is no menu and no staff steps out to help customers. For decades, customers have had to keep in mind that they have … [Read more...] about We need immediate impacts to push long-term benefits
Short term vs long term capital gains tax
Bui Tuan Minh, tax partner of Deloitte Vietnam Resolution No.10-NQ/TW dated June 3, 2017, issued by the Central Committee of the Vietnamese Communist Party on the development of businesses in private sector in Vietnam, has called attention to the rampant private businesses malpractice of making fraudulent financial statements and dodging tax. What do you think are the most common tricks used by enterprises? I myself have observed such practices at some private enterprises, however, it is on a descending trend. In fact, tax optimum or tax evasion have never been a top priority for private businesses in their early phase of establishment, especially for start-ups and small- and medium-sized enterprises. However, when private businesses grow up to a certain scale, there are two common stances among business owners: either reducing tax costs by all means (including tax evasion) or optimising tax costs while ensuring legal compliance. The second choice is a rising trend and is an … [Read more...] about Optimum tax strategy to cut costs and ensure compliance
Foreigners earning incomes from providing services in Vietnam, what are their tax liabilities? Income earned by foreigners from rendering services in Vietnam is taxed in Vietnam regardless of their residence status. However, the tax implications are different depending on various factors that are specified in this article to help the foreigners to comply with the tax regulations in Vietnam as well as mitigate the risks of additional tax, penalties and interests on late tax payment. Regulation on residence status in Vietnam According to the current tax regulation, an individual is regarded as a Vietnamese tax resident if: Being present in Vietnam for a period of 183 days or more within one western calendar year or 12 consecutive months from the date of first arrival in Vietnam; or Having a registered place of “permanent residence” in Vietnam; or Having a rented house (including hotels, guesthouses, motels, offices) with a lease term of 183 days or more in a tax year. In … [Read more...] about Foreigners earning incomes from providing services in Vietnam, what are their tax liabilities?
Palace sign Sako on short-term deal from West Brom The Saigon Times Daily West Bromwich Albion's Bakary Sako in action with Sheffield Wednesday's Atdhe Nuhiu at The Hawthorns, West Bromwich, Britain December 29, 2018 – PHOTO: REUTERS LONDON (REUTERS) - Crystal Palace have signed winger Bakary Sako from West Bromwich Albion until the end of the season, the Premier League team said on Sunday. The Malian spent three seasons at Palace before his contract expired at the end of the last campaign and the 30-year-old joined Championship side West Brom in October. “I’m delighted that we’ve managed to bring Bakary back to Palace,” manager Roy Hodgson said in a statement. Sako scored three league goals in 16 appearances for Palace in his final season at Selhurst Park before breaking his ankle. “He’s a player with a huge amount of talent and as he showed when he was fully fit last year, he is able to provide a boost to our attacking … [Read more...] about Palace sign Sako on short-term deal from West Brom
Short-term home rental service grows sharplyThe Saigon Times Daily An inside view of a 20-square-meter room whose house is located on Pho Duc Chinh Street in District 1, HCMC for Airbnb’s short-term lodging services instead of leasing the entire estate – PHOTO: DAO LOAN HCMC – Short-term lodging services offered through online platforms, such as Airbnb, have grown strongly, but authorities have yet to take measures to control this efficiently, thereby delivering a blow to hotels. Citing unofficial data, Sai Gon Giai Phong newspaper reported that Hanoi and HCMC have some 16,000 rooms for rent through Airbnb. Meanwhile, the number of rooms in HCMC-based hotels with two- to four-star ratings is more than 16,900. Airbnb, which stands for Air Bed and Breakfast, is an online room booking service based on the sharing economy and tourism model. Some 80% of its clients are foreigners. The service fees for tenants typically range from 10% to 15%, while Airbnb charges … [Read more...] about Short-term home rental service grows sharply