Vietnam stamp values

Illustrative photo However, the current regulations on family deduction of the Personal Income Tax Law 2009, which was amended in 2012 and supplemented in 2014, are not suitable for the current socio-economic situation and growth rate. Inadequacies in taxation Personal Income Tax (PIT) is one of two taxes that make the largest contribution to the annual state budget revenue with VND 110,000 bln, accounting for 10 percent of the total balance of the state budget in 2021. This is just after the two pillar taxes of the economy, which are Corporate Income Tax (CIT) and Value-Added Tax (VAT). Although wage earners account for 50 percent of the labor force and contribute up to 70 percent of revenue, tax policy for them has been slow to adjust after more than ten years of applying the PIT Law. This is currently very inadequate. The current income of the cadres, civil servants, and public employees' working salary plus additional incomes have all exceeded the threshold of … [Read more...] about Tax Law in Vietnam inconsistent with income

Vietnam’s hardwood plywood exports to the US increased from 112.3 million USD in 2018 to 356.7 million USD last year. (Photo: VNA) Hanoi (VNA) - The US Department of Commerce (DOC) has announced the extension of the deadline for issuing its final conclusion on a trade remedy duty evasion investigation into hardwood plywood imported from Vietnam, according to the Ministry of Industry and Trade (MoIT). Accordingly, the DOC plans to issue the conclusion on October 17. Currently, the US is applying an anti-dumping duty of 183.36% and an anti-subsidy tax of 22.98% to 194.9% on the product from China. US customs said Vietnam’s hardwood plywood exports to the US increased from 112.3 million USD in 2018 to 226.4 million USD in 2019, 248.5 million USD in 2020 and 356.7 million USD last year. The export turnover expanded by 57.6% in 2021 as compared to the year before the initiation of the investigation. According to the DOC ’s preliminary conclusions, plywood from … [Read more...] about US extends duty evasion investigation into plywood from Vietnam

Workers wrap up and label durians. Vietnamese durians have made a name for themselves as a great-tasting fruit in many countries, but that's only the story's beginning. (Photo: baomoi.com) Hanoi (VNS/VNA) - Vietnamese durians have made a name for themselves as a great-tasting fruit for overseas consumers but still have a long way to go the maintain their position on the international scene, according to insiders. Dang Phuc Nguyen, General Secretary of the Vietnam Fruits and Vegetables Association, revealed that China , the largest importer of fresh Vietnamese durians, has allowed the fruits to be imported via official channels from July 12. However, these opportunities come with obstacles as the Chinese General Administration of Customs (CGAC) requires that Vietnamese exporting firms and growing areas register with the Vietnamese Ministry of Agriculture and Rural Development (MARD), and the registrations must be sent to CGAC for approval before the fruit can enter the … [Read more...] about Long way to go for Vietnamese durians

The Aranyaprathet-Poipet border gate of Thailand and Cambodia (Photo: Asia News) Bangkok (VNA) – Thai businesses have set their sights on expanding trade and investment in Cambodia, especially in processed food, agriculture, tourism, renewable energy, plastic, and gems and jewellery. Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said Cambodia is seeing average economic growth of 7 – 8% per year as a result of the country opening up to foreign direct investment. Cambodia has been trying to develop its tourism and agricultural sectors, but the country still lacks sufficient knowledge and modern technology, especially in terms of storage and processing in order to increase values. This offers a very good opportunity for Thai businesses to forge joint investment s with Cambodian counterparts in many sectors as above, according to Sanan, who is also chairman of the Board of Trade of Thailand . He led the first post-pandemic visit to Cambodia by more … [Read more...] about Thai businesses eye expanding trade, investment in Cambodia

In the first seven months this year, Vietnam’s total export value to the American market approximated $77 billion, equal 22 per cent jump on-year, in which exports to the US market were a bright spot reaching $66.7 billion, up 23.7 per cent on-year. Earlier, accelerated export of Vietnamese products to this market was a hallmark in 2021 reaching $114 billion in total export value, showing a 27 per cent jump on-year. Vietnam also witnessed a big export surplus with this market reaching approximately $89 billion last year. Exports to the US surpassed $96 billion in 2021, more than $21 billion compared to 2020, placing the US in the pole position among Vietnam’s export markets with export value far exceeding that of other markets such as China, the EU, ASEAN, South Korea, and Japan. Several new markets clinching free trade agreements (FTA) with Vietnam in America such as Canada and Mexico have increased imports from Vietnam. Apart from seafood and apparel, the export … [Read more...] about Exports to the Americas eye strong rebound

The agency has strived to deploy trade promotion and investment solutions based on the application of information technology, aiming to help Vietnamese companies maintain contact with potential foreign partners and investors to explore collaboration opportunities. Côte d'Ivoire is Vietnam's second-largest trading partner and fourth-largest export market in Africa, according to Nguyen Phuc Nam, deputy head of the Asia-Africa Market Department under MoIT. The value of two-way trade has amounted to more than 1 billion USD per year between 2017 and 2021. Bilateral trade recorded a strong recovery last year, reaching nearly 1.26 billion USD, up 38.7% from 2020. In particular, Vietnam is currently one of the five largest rice exporters to Ivory Coast, accounting for an average of 30-40% of the African country's total rice import value. Source: VNA … [Read more...] about MoIT ready to help Vietnamese companies access Côte d’Ivoire market

A worker talking to an investor at MB Securities' office. — Photo courtesy of MBS Despite poor business results in the second quarter, many securities stocks have rebounded sharply after hitting the bottom on June 20-21. Accordingly, Viet Dragon Securities JSC (VDS)'s shares gained 84.7 per cent from VND7,200 a share to VND13,300, while shares of Saigon - Hanoi Securities JSC(SHS) also increased by 65 per cent from VND8,904 to VND14,700. Shares of MB Securities JSC (MBS) jumped 61.3 per cent. Leading securities stocks like SSI Securities Corporation (SSI), Ho Chi Minh City Securities Corporation (HCM) and VNDirect Securities Corporation (VND) to small stocks such as Vietnam Industrial & Commercial Securities Corporation (VIG), Hoa Binh Securities JSC (HBS), and Agribank Securities Corporation (AGR) also surged 30-50 per cent in the last month and a half. Securities stocks have reported a good recovery as the general stock market picked up significantly from the area of … [Read more...] about Securities firms raise capital on recovery of stock prices

A drawing contest titled Travel with Muong Thanh - Dream Vacation is the opening programme for a series of activities commemorating the 30th anniversary of the founding of Muong Thanh Group. The competition encouraged the youngsters to engage in additional activities with the goal of learning while playing. It helped them develop their creativity while forming personalities and developing sentiments for the wonders and beauties of their surroundings and encouraging them to appreciate Vietnam more via each location where a Muong Thanh hotel welcomes them. Hundreds of kids, aged 6 to 15 nationally, participated in the event, and the organisers received more than 1,000 submissions from around the nation. Cities and provinces such as Hanoi, Ho Chi Minh City, Danang, Ba Ria - Vung Tau, and Bac Kan were all represented. The children's joy and dedication to the event is mirrored in their paintings, which are rich in concepts, design, and painting materials and are highly detailed and … [Read more...] about Muong Thanh Group’s Dream Vacation drawing contest for children