Tax expert

Illustrative image (Photo: vneconomy.vn) Hanoi (VNA) - Vietnam is studying and adjusting its investment policies to adapt to the global minimum corporate income tax which is scheduled to be applied from 2024, said Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc. The global minimum corporate income tax is part of the Action Plan on Base Erosion and Profit Shifting (BEPS), which involves the participation of 141 member countries. Accordingly, large companies with annual global consolidated revenue of at least 750 million EUR (806 million USD) over at least 2 years of the preceding 4-year period will be subject to a minimum tax rate of 15%. If they are currently paying a tax rate lower than 15% in the country where they are investing, they will have to pay the remaining "shortfall" at a tax rate of 15% to the country where they have their headquarters. According to economists, investment exporting countries’ application of the global minimum tax in 2024 poses … [Read more...] about Vietnam adjusting policies to adapt to global minimum corporate income tax: Official

The event was co-organized by the EfD (Environment for Development)-Vietnam, the Economy and Environment Partnership for Southeast Asia (EEPSEA), and the University of Economics Ho Chi Minh City (UEH). Dr. Nguyen Quang from the UEH said, heavily affected by climate change, Vietnam has become one of the pioneering countries in Southeast Asia in green transition. He noted that Vietnam has come up with many outstanding financial policies concerning taxes, fees and economic tools to help enterprises develop green production, with many local firms switching from traditional business models to smarter and more sustainable, environmentally friendly ones. Dr. Nguyen The Chinh from the EEPSEA pointed a number of existing barriers that make it difficult for companies to implement their green transition, notably a lack of specific and legalized regulations on criteria to identify green businesses, green production processes, and green materials, among others. The expert suggested a need … [Read more...] about Seminar seeks experts’ advice for Vietnam’s green transition

As home to nearly 300 national treasures, Hanoi has a valuable source of ritual and cultural traits that tell its history of thousands of years. The United Nations Educational, Scientific and Cultural Organization (UNESCO) sees the partnership with Hanoi in heritage preservation as one of its key activities in the future, said Director of the UNESCO’s World Heritage Center Lazare Eloundou on March 27. Hanoi mayor Tran Sy Thanh (right) receives Lazare Eloundou, Director of UNESCO’s World Heritage Center, on March 27. Photo: The Hanoi Times The UNESCO expects to bolster the relationship with Vietnam’s capital city in preserving cultural traits and heritages, he told a meeting with Hanoi mayor Tran Sy Thanh. Lazare urged the municipal and local authorities of Hanoi to come up with solutions that bring balance between heritage preservation and socio-economic growth and lift the living conditions for local people. UNESCO will always partner with Vietnam to … [Read more...] about UNESCO promises tight partnership with Hanoi in heritage and relic conservation

Vietnamese companies prioritize environmentally friendly and sustainable practices as part of their efforts to ensure long-term growth. More than 85% of Vietnam's 500 fastest-growing companies (FAST 500) have committed or plan to comply with environmental, social, and governance (ESG) standards, according to a survey conducted by the Vietnam Report Company (Vietnam Report). Electronics production at SGK Company (Chuong My Industrial Park), a component supplier for Samsung. Photo: The Hanoi Times As the global community continues to prioritize environmentally friendly and sustainable practices, Vietnam is also placing a great deal of emphasis on achieving carbon neutrality by the year 2050. FAST500 companies are aware of the importance of ESG standards and are in the process of adopting this strategy, the report states. Specifically, 14.8% of companies surveyed had initiated and implemented some of their ESG obligations, while 37% had fully planned and … [Read more...] about Over 85% of major Vietnamese companies are committed to ESG standards

Huynh Tan Buu, General Director of Sun Electronics, said that the center provides training programs up to the International Process Control (IPC) standard. The programs are designed and taught by Vietnamese experts who have worked for many years in large electronic corporations in Silicon Valley in the U.S. The IETC targets engineers working in enterprises, recent graduates from universities and colleges, and entrepreneurs starting up in the field of electronics and microchips, he said. For his part, Minister of Science and Technology Huynh Thanh Dat held that the centre is an important factor for the establishment of an electronic and semiconductor industry ecosystem of Ho Chi Minh City in particular and the whole country in general. He said that science and technology research and development for the electronics and semiconductor industry has always been one of Vietnam's priority orientations over the past years. The Ministry of Science and Technology has proposed the … [Read more...] about Ho Chi Minh City launches first international electronic training centre

At a reception for the diplomat, President Mohamed Irfaan Ali said he hopes Vietnam will assist Guyana in agriculture, animal husbandry and cultivation. Hoa vowed to work to develop the traditional friendship and cooperation between the two governments and peoples in her position. On March 21, Hoa paid a courtesy call on Guyanese Minister of Tourism, Industry and Commerce of Guyana Oneidge Walrond who pledged to offer all possible support to Vietnamese firms to access Guyana’s market and wished to learn from Vietnam’s experience in ecological tourism development. During a working session with the Vietnamese diplomat a day later, Guyanese Minister of Foreign Affairs and International Cooperation Hilton Todd promised to support Vietnam at multilateral forums and facilitate the exchange of all-level delegations in the near future. Elizabeth Harper, standing Deputy Minister of Foreign Affairs of Guyana, announced that two countries will soon offer visa exemption to their diplomatic … [Read more...] about Guyana wishes to strengthen ties with Vietnam in various areas

At the event, experts and delegates proposed ideas for enterprises to carry out their social responsibility for environmental protection, and underlined the benefits that it brings. Nguyen Dinh Phuc, Vice Chairman of the municipal Union of Science and Technology Associations, said more enterprises are willing to use their corporate social responsibility (CSR) fund to finance environmental projects carried out by social organizations. However, the coordination between the two sides still faces certain issues, he said, adding that events like this program will help the sides find shared values and enhance their cooperation in the future. The activity was part of a project on pooling financial resources for sustainable biodiversity conservation and environmental protection in Da Nang city, or known as Vietnam Wildlife Conservation Fund project, which is funded by the European Union Delegation to Vietnam. The project aims to establish a fund for the conservation of wild flora and … [Read more...] about Enterprises’ social responsibility in biodiversity conservation highlighted

Visas, service quality, and technology were all part of discussions on a better-performing tourism sector Photo: Cuong Minh May’s National Assembly session is likely to help push ahead a revamp of the country’s rules on entry and exit for foreign visitors, after the Ministry of Public Security crafts amendments to the current law. The development will be an important basis for the issuance of new regulations related to the visa policy, removing difficulties for the tourism industry, and creating conditions to attract more international visitors this year, according to most observers. Dang Tuan Viet, deputy director of the Ministry of Public Secrutity’s (MoPS) Vietnam Immigration Department, said that the proposal emphasised two major areas related to unilateral visa exemption and electronic visa policy. The MoPS also proposes to expand the number of countries that can issue e-visas from 80 countries to the maximum. The MoPS will also ask to increase the temporary stay … [Read more...] about Visa upgrade at heart of fresh approach to tourism

Proposals relating to cooperation and encouraging foreign investors to join Vietnam’s innovation journey were addressed at some forums, including one at VIR’s headquarters and the annual Vietnam Business Forum (VBF) organised in Hanoi over a week back. Working groups of the Vietnam Business Forum touched on a variety of topics and recommendations for greater progress Photo: Dung Minh One particular area of discussion focused on the digital economy and tech such as blockchain. Do Tien Thinh, deputy director of the Vietnam National Innovation Centre (NIC) said at VIR’s forum on digital transformation on March 21 that the NIC is working with many big foreign technology groups to connect them with domestic enterprises to implement training courses and technical supporting programmes. Thinh said Google has implemented digital skill training courses for businesses, especially startups. In mid-2022, Google launched a certification initiative and Startup Academy Vietnam, … [Read more...] about High-tech talent pool to aid transformation

The Hanoi Justice Department’s Property Auction Centre will hold an auction for an ATR 72-500 plane at a starting price of VND136.6 billion (USD5.6 million), excluding taxes and fees. The Vietnam Aircraft Leasing Joint Stock Company (VALC) has authorised the department to conduct the auction. The plane was made in 2010 and has 68 seats. The ATR 72-500 plane People who want to join the auction have to deposit VND6.8 billion (289,361). They can directly check the plane at Tan Son Nhat International Airport in HCM City from March 24 to April 4. The auction will be organised in Hanoi on April 10. This plane has been auctioned eight times but failed to find a buyer. The first time was 2016 with a starting price of VND215 billion. In 2018, it was auctioned again at the price of VND189 billion. The plane was hired by national flag carrier Vietnam Airlines to run on routes to airports that cannot receive Airbus 320 aircraft, including Con Dao, Kien Giang, Ca … [Read more...] about ATR 72-500 plane to be auctioned again