Tax rate for corporations

Pre-tax earnings sank 15 percent to US$9.2 billion after it took a $1.1-billion hit on possible credit losses "to reflect heightened economic uncertainty and inflation", HSBC said. The result "reflected a more normalised level of expected credit losses compared with the Covid-19 releases made last year, as well as the macroeconomic impact of the Russia-Ukraine war", added Chief Executive Noel Quinn. HSBC H1 pre-tax profit falls, dismisses calls for split - illustration photo / ISAAC LAWRENCE / AFP However, net profit rose 14 percent to US$8.3 billion in the reporting period partly on a large one-off tax credit. - Quarterly dividends - The annual revenue outlook was positive, Quinn noted, with net interest income expected to reach at least US$31 billion this year and US$37 billion next year as interest rates rise. The group was confident of achieving its best returns in a decade in 2023. "We also intend to revert to quarterly dividends in 2023," he added. … [Read more...] about HSBC H1 pre-tax profit falls, dismisses calls for split

The 50 Best Listed Companies in 2022 include the best players in diverse sectors that have secured eminent business achievements in their development history. As impacts of the pandemic have gradually abated, the business landscape globally and in Vietnam began to exhibit increasingly bright prospects. Disruptions of the supply chain brought a bonanza year for seaport and logistics firms. Temporary disturbances in the supply chain have led to escalating input material prices which, in another extent, are beneficial to certain groups of businesses, including PVCFC to cash in on the opportunities to harvest inspiring business results. PVCFC for the second time shining among the 50 Best Listed Companies in 2022 Leveraging the most rigorous assessment criteria and an objective and scientific select mode, Forbes Vietnam’s judging panel continued to assert PVCFC as a major brand with a solid background. The company’s residence against challenges, flexible adaption to … [Read more...] about PVCFC named in 50 Best Listed Companies for second time

The debate began after the Senate voted 51-50 to move ahead with the legislation. Vice President Kamala Harris broke a tie vote, with all 50 Republicans in opposition. The Senate was set to debate the bill for up to 20 hours before diving into an arduous, time-consuming amendment process called a "vote-a-rama." Democrats and Republicans were poised to reject each other's amendments, as Senate Majority Leader Chuck Schumer maneuvered to keep a his 50-member caucus united behind a bill that was negotiated over several months. If even one Democrat were to peel off, the entire effort would be doomed in the evenly split 50-50 Senate. Earlier in the day, the Senate parliamentarian determined that the lion's share of the healthcare provisions in the $430 billion bill could be passed with only a simple majority, bypassing a filibuster rule requiring 60 votes in the 100-seat chamber to advance most legislation and enabling Democrats to pass it over Republican objections. Democrats hope … [Read more...] about Senate Democrats battle to pass $430 billion climate, drug bill

Truong Hai Auto Corporation (THACO), a typical successful firm in Vietnam's automobile sector, has been investing heavily in mechanics and the manufacturing of accessories. THACO leaders shared the firm’s journey to resolve the issue: increasing the localization rate or surrendering to auto imports flooding the local market. They also shared the one-stop model to help other Vietnamese enterprises cooperate to develop, thereby improving the internal power of Vietnam’s industry. THACO chairman Tran Ba Duong said at a meeting with mechanical enterprises that “you have technology and machinery. We will build factories and lease them at low prices.” “If we fail to demonstrate our commitment, you can take your machinery away. “We will not go back on our words. Only actual acts and thoughts will create values." Refreshing itself by enhancing investment Returning to Chu Lai Industrial Park in central Quang Nam Province nearly three years after Tuoi Tre (Youth) newspaper held … [Read more...] about Vietnam’s THACO and philosophy of no surrender

Workers at a textile factory. VITAS said six-month textile exports reached $22.3 billion. — Photo vneconomy.vn In contrast to a sector-wide pickup in the first quarter of 2022, textile firms saw mixed performance in the second quarter. According to the Vietnam Textile and Apparel Association (VITAS), textile exports hit around US$22.3 billion in the first six months of the year, up 17.7 per cent compared to the same period last year. The Vietnam National Textile and Garment Group (Vinatex) made an after-tax profit of VND573 billion ($25 million) in Q2, up 49 per cent compared to Q2/2021. The firm attributed the rise in profit to its high volume of cotton in storage, which resulted in low production costs amid mounting cotton prices. The TNG Investment and Trading JSC followed suit with a revenue of nearly VND2 trillion and after-tax profit of VND87 billion, up 35.7 per cent and 42.3 per cent year-on-year, respectively. The Phong Phu Corporation was another firm that came … [Read more...] about Textile firms see mixed performance in Q2