The Ministry of Finance has issued a number of new corporate income tax regulations. Circular No 123/2012/TT-BTC, issued on July 27, guides the implementation of the Law on Corporate Income Tax and Decree No 124/2008/ND-CP of December 2008. Under the new circular, an enterprise facing changes to corporate tax incentives during a taxable period may (i) continue to apply existing incentives in the current year (less than 12 months), or (ii) apply the standard tax rate in the current year and enjoy new incentives in the subsequent tax year. see more
The Ministry of Industry and Trade (MoIT) will apply automatic import licences to some steel products as of September 20 in order to better manage imports, according to MoIT’s newly-issued circular.Steel importers will have to register each lot of steel products they import with the MoIT. Every automatic import licence is valid within 30 days after confirmation by the ministry. The licence will be granted within seven working days for normal applications and five working days for online applications. see more
The Vietnamese advertisement market got 1.2 billion dollars in 2011, which meant a growth rate of 15 percent over the previous year. The growth rate was lower than the average rates of 25-30 percent seen in the previous consecutive years. Though the turnover increased, experts have pointed out that this would be a minus growth rate if comparing with the inflation rate. see more
Vietnam’s spending on information technology (IT) is growing at an average rate of 17% per year, almost hitting US$3 billion in 2011 and forecast to reach US$3.5 billion in 2012 if the tempo is maintained.According to the White Book of IT released on the same day, Vietnam’s IT spending is surging by some 17% every year, amounting to US$2.9 billion in 2011, twice as much as the figure of US$1.4 billion in 2006. see more
Quang Ngai Sugar Joint Stock Company has inaugurated a new soybean processing plant in northern Bac Ninh province.Spanning 60,000 square metres, the plant is capitalised designed capacity of 1 billion cartons per year and equipped with synchronous and automatic equipment from Sweden’s Tetra Pak group. see more
