Ministry claims fizzy drink tax does not violate WTO commitments
16:15 | 06/05/2014 Finance - Banking
(VEN) - The Ministry of Finance’s Tax Policy Department Director Ngo Huu Loi said that the Ministry of Finance proposed to impose the excise tax on carbonated, non-alcoholic soft drinks. He also said that the excise tax on this item does not violate Vietnam’s commitments to the World Trade Organization (WTO).
Proposal to expand the scope of VAT refund for foreigners
16:41 | 29/04/2014 Finance - Banking
(VEN) - The Ministry of Finance is drafting a circular guiding the implementation of value added tax (VAT) refunds on goods purchased by foreigners on their exit from Vietnam. The Ministry of Finance will expand the scope of application of the VAT tax refund for foreigners at international ports and airports.
Bank shares recovering their high rank: A hard journey
10:33 | 29/04/2014 Finance - Banking
(VEN) - Although the securities market improved somewhat in 2013, bank shares remained unattractive to investors. The macroeconomic situation in general and the securities market in particular however are expected to see positive changes in 2014. In the first quarter of this year, despite improvement in bank share valuations, it is likely the shares will not recover their former luster in the near future.
Tax incentives for investment incentive projects
16:42 | 28/04/2014 Finance - Banking
(VEN) - The General Department of Taxation has recently issued written guidelines for tax incentives for projects with investment preferences. I.e. enterprises implementing projects with investment preferences and eligible for tax incentives, after being granted certificates of investment incentives, must send valid copies of investment incentive certificates to agencies directly involved with tax collection management within 10 working days from the date of investment incentive certification.
Bank restructuring: Short-term problems resolved
14:41 | 25/04/2014 Finance - Banking
(VEN) - The results of the restructuring of commercial banks in the last two years showed that short-term problems in fields such as reorganization, ensuring the payment capability of the entire system and dealing with inefficient banks had been resolved. In the long term, tightening controls over bad debts and strengthening successful banks must be considered as major tasks.
Agribank Ca Mau accompanies with enterprises
15:45 | 24/04/2014 Finance - Banking
(VEN) - Despite difficulties in seafood production and processing, plus stiff competition among commercial banks in the southern province of Ca Mau, the Vietnam Bank for Agriculture and Rural Development, Ca Mau branch (Agribank Ca Mau) still posted growth and sustained its market share, to reach VND3,993 billion last year. All of its attached units had their capital sources increased, especially those raised from residential areas.
Financial policies taking effect in April 2014
16:58 | 10/04/2014 Finance - Banking
(VEN) - Some financial policies and regulations came into effect in April 2014. These include regulations on judicial authorization charges applied to civil matters, the minimum level of charges on auction sale of securities, and fines imposed on unreasonable price increases.