Vietnam

Other experts said there should be severe sanctions for transfer pricing in Viet Nam, taking examples from other countries such as Australia where the fine for the transfer pricing was 50 per cent of the avoided tax amount or in India where the local tax authorities may impose penalties of up to 300 per cent of the difference in the tax wrongly calculated by the companies. … [Read more...] about Guiding decrees needed to fight with transfer pricing in Vietnam

In general, the province has received particular praise for its workforce training, the safety of its legal institutions, and the pioneering role of local governance, all of which are drawing attention from long-term investors. This explains why local and global giants, especially Europe and America, are keen on the province. One of the outstanding success stories is Piaggio which has two plants in the province. The other is De Heus, a high-quality European animal feed producer, one of the five largest animal feed manufacturers in Vietnam that is making extensive contributions to the agricultural development of not only Vinh Phuc but the whole country. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JULY 7

Hanoi (VNA) - Bloomberg newspaper said on June 29 that Vietnam’s economy unexpectedly grew in the second quarter despite the impact of COVID-19. It cited data from the General Statistics Office (GSO) as saying that GDP rose 0.36 percent year-on-year compared to a revised 3.68 percent in the first quarter. The median estimate in a Bloomberg survey of economists was for GDP to shrink 0.9 percent. On a six-month calculation, GDP grew 1.81 percent, making Vietnam one of the best performers in Southeast Asia. Exports fell 2 percent in June compared to a year earlier, while imports climbed 5.3 percent. The CPI rose 3.17 percent year-on-year in June and 2.4 percent month-on-month. The government aims to cap average inflation at 4 percent this year. The article said Vietnam’s export-reliant economy is taking a knock as the virus disrupts global supply chains and dampens demand, and added that Prime Minister Nguyen Xuan Phuc had forecast in May that the economy could post … [Read more...] about Bloomberg: Vietnam’s economy grows unexpectedly in Q2

The head of the left-wing Dominica Liberation Movement Alliance’s foreign department affirmed that the collective power in terms of humans and organisation together with the socio-political vision of the CPV and the Vietnamese Government, as well as scientific, medical and technical preparations have enabled Vietnam to control the impacts of the epidemic. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia on April 22

Hanoi (VNA) – The Japanese Embassy in Vietnam, on behalf of the Japanese Government, Ministry of Defence and relevant agencies, on July 6 expressed gratitude to Vietnam for its assistance in repairing and refueling a P-3C plane from the Japan Maritime Self-Defence Force in the past two months. The Japan Joint Staff (JJS) of the Japan Self-Defence Forces on July 3 also thanked the Vietnamese Government for helping the anti-submarine patrol aircraft. "We sincerely appreciate your kindness to offer help when we were facing difficulties. We will never forget our strong ties. Thank you, Vietnam," the JJS said in a Twitter video. The aircraft, with 19 crew members, was on its way home following an anti-piracy mission in the Gulf of Aden in the Middle East and in need of refueling to help complete its 10,000km journey. While no country let them enter due to the COVID-19 pandemic, Vietnam had agreed to receive the P-3C at Tan Son Nhat International Airport in Ho Chi Minh City for … [Read more...] about Japan thanks Vietnam for assisting military aircraft in trouble