Government
Taxation
PM urges Vientiane to tackle city's challenges
Prime Minister Thongloun Sisoulith has urged Vientiane authorities to strengthen their efforts to address various issues that are challenging development in the capital. Public debt and traffic congestion are among the main challenges and were tabled for discussion between the prime minister and authorities last ...
Farmers hail land tax waiver
An estimated 12.5 million people will be eligible for agriculture land tax exemption, leaving merely 77,000 people still subject to this tax. The tax waiver, provided in a decree signed by Prime Minister Nguyễn Xuân Phúc at the end of last month, came in for ...
Hluttaw to recess after budget approval
The 2017-18 National Planning Bill from the Union government was approved by Pyidaungsu Hluttaw on March 15, following a K296 billion cut from the original allocated amount. After reviewing the projects to be implemented by the ministries and Union-level organisations during the coming fiscal year, ...
Revenue collection, timber auction dominate Govt meeting
Implementation of the revenue collection and expenditure plan, the auction of wood impounded by the government, and the upgrade of wood processing plants dominated the monthly government meeting on March 15. Other hot topics tabled at the two-day meeting included the export of wood, a ...
ASEAN members reaffirm 90% tariff cuts under RCEP
ASEAN members are holding to their vow to cut import tariffs on 90% of products, amounting to 5,000-6,000 items under the Regional Comprehensive Economic Partnership, over the next 15 years. They also plan to push for the conclusion of negotiations this year. According to Commerce Minister ...
New transfer pricing decree: a step closer to international standards
On February 24, 2017, the Vietnamese government released the new transfer pricing Decree No. 20/2017/ND-CP ‘Providing tax administration applicable to enterprises having controlled transactions’ (Decree 20), which will take effect from May 1, 2017. Decree 20 replaces the existing TP regulations (Circular No.66/2010/TT-BTC) and provides new ...
Oil imports lift US trade deficit
The US trade deficit jumped to a near five-year high in January as rising oil prices helped to push up the import bill, pointing to slower economic growth in the first quarter and posing a challenge for the Trump administration. President Donald Trump took office ...
License for Cambodia investment tax service
Cambodia Investment Tax Service has become the 44th tax agent to get a license from the General Department of Taxation since the government made an effort to modernize and make more efficient tax collection by using private companies. Anthony Galliano, company group CEO, said licensing and ...
Tax exemption on interest income questioned
The Ministry of Planning and Finance has issued a statement on February 19 that income tax will not be levied on interest from bank savings and deposits. The statement means that tax on interest from bank deposits will be exempted in the coming 2017-18 fiscal ...
Tax exemption offered to SMEs
A two-year income tax exemption is being offered to small and medium-sized enterprises that register with the Ministry of Economy and Finance before the end of 2018. According to a sub-decree published on February 22, the decision to offer a tax exemption for SMEs that are ...
