Tax housing

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

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

He attributed the obstacles to global fluctuations over armed conflicts, climate change, tightening food safety requirements by importing countries, and high inflation in the US. Data from the Vietnam Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD) showed the total brackish water shrimp farming area was 747,000 hectares last year, with total output exceeding 1 million tons, up 8.5% year-on-year. Currently, the country houses 2,294 hectares of shrimp breeding area, which turned out 159.5 billion shrimplets in 2022, an annual increase of 10%. This year, Vietnam aims to expand its shrimp farming area to 750,000 hectares for more than 1 million tonnes in output and 4.3 billion USD in export revenue. Trinh Trung Phi, a technical director at the Vietnamese shrimp company Viet Uc, highlighted the importance of sustainable technological solutions in the growth of the sector. MARD Deputy Minister Phung Duc Tien said that in order to reach the … [Read more...] about Significant efforts needed to realize 4.3-billion-USD shrimp exports

It is now nearly impossible to buy a new apartment at the VND 2 billion mark. According to a report in 2022 from Rever, a Southeast Asia technology firm in real estate brokerage, for VND1.5-1.8 billion, one can buy a 30-55 square meter apartment built 6-10 years ago in Thu Duc City, on the secondary market. The average income of workers in Ho Chi Minh City (HCMC) this year is about VND148 million a year, according to property listing platform Batdongsan.com.vn. By that calculation, it will take up to 24 years to save, with no spending on anything, just to buy an apartment. The type of apartment used in this survey costs VND3.5 billion per unit. The data also shows that Vietnam ranks first in Southeast Asia in terms of the gap between house prices and average worker incomes. From 2018 to 2021, the ratio of the difference between real estate prices and the average income of Vietnamese has continuously increased, surpassing even Singapore. On the other hand, Indonesia, Malaysia and … [Read more...] about A laborer needs to save for 25 years to buy an apartment

Aside from the drug possession charge, police are investigating Bam on charges of child abuse and "enticing others to use drugs." Videos of Bam giving meth to the 3-year-old boy were brought to investigators’ attention by a man known only as Tai, the boy’s biological father, who reported the case to the police on Friday. Police arrested Bam on Sunday afternoon at his house in Cu Chi District after a two-day search for him. The officers found meth, drug paraphernalia and other related evidence inside the house. Bam tested positive for drugs, and fortunately the boy was negative. He is currently at the Ho Chi Minh City Children’s Hospital in stable condition with no abnormal symptoms. The boy’s mother and Bam said they "only let the boy use meth once just for fun" many months ago. Police are currently taking the testimonies of people involved in the case. One of the clips Tai showed police revealed the boy in diapers sucking on a meth straw while a woman’s voice can be heard … [Read more...] about Man arrested after forcing 3-yr-old to smoke meth

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

To improve project readiness and provide opportunities to attract investment from Vietnamese and international investors, the schemes will receive tailored one-to-one and group support. This will include advice on technical aspects, financial models, materials, and advice on enhancing gender equality and social inclusion. The CFA is part of the UK government’s efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow two years ago, and offer support to implement the Vietnam Just Energy Transition Partnership (V-JETP) that was agreed upon in December last year. “The exciting and innovative projects selected to be part of CFA Vietnam underline the significant potential of the Vietnamese private sector to help tackle the climate crisis," British Ambassador to Vietnam, Iain Frew, said. "The expertise shared with these projects will help move them closer to finding investment, leading to reductions in carbon emissions for communities across … [Read more...] about Innovative low-carbon projects join UK’s climate finance scheme

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

The ballet suite “Carmen” will be performed in the city on April 2 at the Saigon Opera House. (Photo: Courtesy of HBSO) Hanoi (VNA) – The Ho Chi Minh City Ballet Symphony Orchestra and Opera ( HBSO ) on March 27 announced that the ballet suite “Carmen” will be performed in the city on April 2 at the Saigon Opera House. French composer Georges Bizet wrote Carmen in 1875, but as an opera. Then in 1967, Cuban choreographer Alberto Alonzo created a ballet suite based in part on Bizet’s music, but more specifically on music by Russian composer Rodion Shchedrin. Instead of interpreting the content of the original opera, Shcerdrin famously referred to his bold work as more than an arrangement, rather “a creative meeting of the minds”. In particular, the familiar tunes of the opera have been vividly transformed through the arrangement of strings and percussion. The original ballet was not appreciated for its use of distinct styles to tell an already familiar story. It was not … [Read more...] about Ballet suite “Carmen” to be staged in Ho Chi Minh City: HBSO

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