In 2012, Vietnam adopted several reforms that will take effect this year. In this article, KPMG’s tax advisors Nam Nguyen and Jeff Sea summarise the major changes. The global economic meltdown continued to hit every corner of the world and Vietnam was not an exception. The year 2012 continued to pose great challenges to businesses in Vietnam and witnessed the country facing domestic economic and financial issues including the continuing setback of the property market, businesses’ low liquidity and poor-performing loans in the banking sector etc. Corporate Income TaxTax incentive adjustments for export enterprisesValue Added TaxForeign Contractor TaxTax relief for low income earners and investors in 2012Relevant changes in Labour Code in 2013Connecting the dots, spotting the futureThe views expressed by the authors here do not necessarily represent the views and opinions of KPMG. >> Ten things to do for boards and firms >> Shining a light on related party disclosures >> KPMG has faith in Vietnam >> KPMG chief underlines keys to attract investors Source vir.com.vn
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