us tax compliance act threatens tardy banks

US tax compliance act threatens tardy banks

From July 1, 2014, the US Foreign Account Tax Compliance Act (FATCA) will take effect. In essence, banks that choose to do nothing on FATCA will be subject to a 30 per cent reduction in the interest they receive on deposits at other banks, on interbank and on nostro balances.
asean car imports enjoy tax break

ASEAN car imports enjoy tax break

Vietnamese consumers will pay 50 to 60 per cent less tax on cars imported from ASEAN countries beginning January 1.
tax office continues to tackle transfer pricing

Tax office continues to tackle transfer pricing

The General Department of Taxation has taken drastic measures to crack down on transfer pricing, confirming it had carried out investigations on businesses using transfer pricing to lower tax obligations.
hsbc pre tax profits rise on year

HSBC pre-tax profits rise on-year

HSBC Holdings PLC has reported strong returns for the third quarter.
tax exemption proposals on green buses vetoed

Tax exemption proposals on green buses vetoed

The Ministry of Finance has turned away pleas from Ho Chi Minh City and Binh Duong authorities seeking exemption of import duties on compressed natural gas (CNG) powered buses and parts.
three fdi companies forced to pay tax debt

Three FDI companies forced to pay tax debt

The HCM City Customs Agency has imposed coercive measures force three foreign-invested companies to pay tax debts.
bayern chief charged with german tax evasion

Bayern chief charged with German tax evasion

Prosecutors charged Bayern Munich's powerful president Uli Hoeness with tax evasion on Tuesday, a court said, after a month-long high-profile probe that has rocked German sport and politics.
g20 gets action plan to fight tax avoidance

G20 gets 'action plan' to fight tax avoidance

The OECD has presented the G20 nations with a bold strategy to crack down on tax avoidance by corporate giants and the superrich, and so boost overstretched national budgets.
corporate tax rates fall but snags remain

Corporate tax rates fall but snags remain

Le Thi Kieu Nga, Partner, Tax and Corporate Services at KPMG in Vietnam provides VIR with the lowdown on the proposed fall in corporate income tax and other tax adjustments outlined in the amended Law on Tax Administration.
australia to scrap carbon tax for trading scheme

Australia to scrap carbon tax for trading scheme

Key greenhouse gas emitter Australia on Sunday announced it will scrap its carbon tax in favour of an emissions trading scheme that puts a limit on pollution from 2014, a year earlier than planned.
samsung vietnam gets tax breaks for giant plant

Samsung Vietnam gets tax breaks for giant plant

Thai Nguyen has announced tax breaks and other incentives for the four plants Samsung plans to build in the northern province.

Most businesses to file tax returns electronically by 2015

The General Department of Taxation plans to develop its information technology infrastructure to ensure that at least 80 per cent of all companies will be able to file returns and pay tax online by 2015.
citing delays kumho seeks tax refund

Citing delays, Kumho seeks tax refund

Kumho Asian Plaza Saigon is demanding a refund of import tax paid for equipment  imported to serve its projects.
na pushes swift and big tax slashes

NA pushes swift and big tax slashes

Many National Assembly deputies are proposing the corporate income tax immediately be slashed to 20 per cent to support enterprises.
gasoline import tax cut to 18 percent

Gasoline import tax cut to 18 percent

The Ministry of Finance on May 23 issued Circular 70/2013/TT-BTC to adjust the gasoline import tax to 18 percent from previous 19 percent, which took effect immediately.