coal export tax to increase next month

Coal export tax to increase next month

Export taxes on all kinds of coal would be increased from the current 15 per cent to 20 per cent as of September 11 to limit the outflow of the natural resource, according to a new circular issued by the Ministry of Finance.
strengthening tax administration across the e commerce landscape

Strengthening tax administration across the e-commerce landscape

Vietnam is a country where internet users account for more than half of the country’s population and this is expected to increase sharply in the coming years.
tax deferral to ease business operations

Tax deferral to ease business operations

To support businesses to recover operations soon, numerous policies related to deferring tax and land rent payments are to be put in place, while a reduction in corporate income tax is being considered.
coca cola continues tax haggle with gdt

Coca-Cola continues tax haggle with GDT

The long-standing dispute between Vietnamese tax authorities and foreign-invested enterprises continues to rumble on, with many companies suffering legal setbacks in a bid to avoid tax obligations.
airbnb style practices targeted with tax proposals

Airbnb-style practices targeted with tax proposals

Proposals currently being pored over to recognise short-term leasing of apartments as a legal business will put pressure on popular homestay groups such as Airbnb.
tax duties closing in for digital services

Tax duties closing in for digital services 

Vietnam’s ability to charge taxes from cross-border platforms may soon improve thanks to the Organisation for Economic Co-operation and Development’s new tax rules, focusing on expanding the country’s taxing rights under international laws.
us tax authority prevails in dispute with coca cola

US tax authority prevails in dispute with Coca-Cola

A US court mostly sided with tax authorities in a dispute with Coca-Cola over how the soda giant reports income from some overseas markets, according to a ruling this week.
guidance sought in averting tax risks

Guidance sought in averting tax risks

The ongoing pandemic has prompted the Vietnamese government to push back deadlines for tax and land use fee payment. Notwithstanding, firms can find themselves in hot water due to the lack of eligibility criteria.
smaller firms to land on tax cushion

Smaller firms to land on tax cushion

Over 700,000 micro- and small-sized enterprises in Vietnam could receive a hefty reduction in corporate income tax payable this year, while more than one million individual taxpayers could be beneficiaries of personal income tax deductions.
tax exemptions encouraging agricultural growth

Tax exemptions encouraging agricultural growth

The National Assembly is expected to provide millions of farming households and thousands of agricultural firms nationwide with an exemption of tax for using agricultural land for the 2021-2025 period, which will also help the country secure more investment into agriculture.
managing tax deductibility of intercompany expenses

Managing tax deductibility of intercompany expenses

The deductibility of intercompany expenses involving “non-tangible” goods transactions continues to be an area of focus by the tax authorities, particularly those expenses for payments relating to intellectual property or provision of services. Joseph Vu, partner of Transfer Pricing, and Nguyen Thanh Hoa, partner of Legal at KPMG Ltd., take a closer look and give insights on mitigating risks regarding deductibility of these expenses from a tax and transfer pricing perspective.
tax watchdog to enhance inspection this year

Tax watchdog to enhance inspection this year

The General Department of Taxation plans to inspect tax compliance at 19.5 per cent of businesses in 2020, the department’s Director Cao Anh Tuan said on Tuesday.
tax authorities clamping down on foreign evaders

Tax authorities clamping down on foreign evaders

Foreign-invested enterprises will no longer be allowed to ignore their tax obligations as Vietnamese tax departments step up action on duty-dodging businesses.
online tax declaration service kicks off

Online tax declaration service kicks off

Seatech last week announced the launch of Vietnam’s first online tax declaration service to local taxpayers in Vietnam.
vnt logistics fined for tax violations

VNT Logistics fined for tax violations 

VNT Logistics (ticker: VNT) has been fined nearly VND4 billion ($173,900) for tax issues, according to the Hanoi Tax Department.