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Chinese tourists accounted for about 30% of the total number of international visitors to Vietnam in 2019. Therefore, the suspension of visa issuance for Chinese tourists will definitely hit tourism. Further, the present time is the peak of spring travel and festivals of domestic tourists; so the epidemic will deal a hard blow to these activities. Of note, these are seasonal activities, and can hardly be offset in the coming months, even when the epidemic is out. … [Read more...] about 2019-nCoV impacts on economies of Vietnam and China

The firm will invest in six ATR 72 turbo-prop aircraft during the first year of operations and then double the number of aircraft in the second year. Until the third year, it is expected to operate a total of 15 ATR 72s and five A320s/A321s. The airline operator will add five A320s/A321s to the fleet annually in the two following years. … [Read more...] about Aviation firm proposes setting up Kite Air

With the efforts to tackle tax evasion and implement international best practices, in early 2017, the Vietnamese government released Decree No.20/2017/ND-CP on providing tax administration applicable to enterprises with related party transactions. It introduced new concepts and principles from the OECD’s TP guideline, as well as implemented certain actions from the Base Erosion and Profit Shifting (BEPS) Action Plans. … [Read more...] about Aligning transfer pricing with international norms

Experts pointed out popular misconceptions about transfer pricing in Vietnam due to the lack of knowledge on international standards and business practices. In his opening speech, Adam Sitkoff, CEO of AMCHAM in Hanoi, expressed his concerns regarding the widespread perception of transfer pricing as a tool for tax evasion and a violation of laws.  He said that in the context of Vietnam’s increasing integration into the global economy, transnational transactions will start to become more and more frequent. The misconceptions about these types of transactions will create challenges and barriers for transnational investors when they decide to invest in Vietnam, Adam said.  He stressed that measures should be taken to determine appropriate prices for these transactions, including tangible and intangible transactions, services, financial or cost/share distribution. Wayne Barford – senior advisor of the International Tax and Investment Center (ITIC) and an … [Read more...] about Workshop discusses int’l experience of transfer pricing

The rugged looks of the Ranger Limited have seen stylistic changes with a more modern and eye-catching design. The Ranger Limited comes standard with 18-inch sport wheels like the Wildtrak, with 3D metal spokes, which is a common trend in high-end SUV models. The vehicle has a full LED headlamp which improves visibility while reducing glare for oncoming traffic. … [Read more...] about Ford gives facelift to Ranger and Everest, launches new Ranger Limited 2020