Brazil begins AD sunset review on Vietnam’s rubber tyres for bicycles A rubber tyre for bycicles (Illustrative photo: Ministry of Industry and Trade) The Department of Commercial Defence (Decom) under Brazil’s Ministry of Industry, Foreign Trade and Services has initiated a sunset review of the anti-dumping duty order on new rubber tyres for bicycles classified under NCM 4011.50.00 from Vietnam, India, and China. Decom initiated anti-dumping duties against the product in December 2014, with duties imposed on Vietnam’s rubber bicycle tyres standing at 0.59-2.8 USD per kg. The department required exporters of relevant countries to respond to questionnaires indicating the information necessary to the investigation on Decom’s portal decomdigital.mdic.gov.br. They shall have a 30-day deadline for response, counting from the date of notification. The deadline can be extended up to 30 days based on request of relevant sides, the Brazilian authority added. … [Read more...] about BUSINESS NEWS IN BRIEF 14/3
Business tax help
BUSINESS NEWS IN BRIEF 2/2
Over 37.6 million shares to be offered on HNX in February In 2018, HNX held 40 auctions; including 10 initial public offerings (IPOs), 29 divestments and one purchasing rights auction. — Photo hanoimoi.com.vn The Ha Noi Stock Exchange (HNX) will hold eight auctions in February to sell over 37.6 million shares of companies this month. The companies include Thai Hoa Water Supply JSC, Dien Chau Water Supply JSC, Cua Lo Water Supply SJC, Quynh Luu Water Supply JSC, Ha Tinh Urban and Environment JSC, Ninh Binh Water Supply and Sewerage SJC, Lilama 69 - 3 JSC and Lilama 10 JSC. In January, Hai Duong Province People’s Committee divested from Hai Duong Cable Television Joint Stock Company on the HNX. Of the 692,000 shares on offer, 575,000 were purchased, equal to 83 per cent. As a result, VND7.1 billion (US$303,418) was collected and the share capital surplus reached VND1.4 billion. In 2018, the HNX held 40 auctions; including 10 initial public offerings (IPOs), 29 … [Read more...] about BUSINESS NEWS IN BRIEF 2/2
BUSINESS NEWS IN BRIEF 16/1
Domestic market of gift baskets for Tet Holiday bustling The domestic market of gift baskets for Tet Holiday (the Lunar New Year) is bustling with activities as demand for gifts has increased. Supermarkets and shops are being busy with offering the finest quality merchandise for gift baskets to satisfy all tastes. Co.opmart, Big C, Vinmart, Lotte Mart, Mega Market have been displaying various kinds of gift baskets so that customers can choose it easily. Retailers predict that purchase power will increase by 20 percent compared to the same period last year and gift baskets from VND500,000 ($21.5) to VND1 million are expected very popular. Saigon Co.op, which operates the Co.opmart supermarket chain, announced this year, its supermarket chain including Co.opmart, Co.opXtra, Co.op Food are exhibiting gift baskets containing goods with clear origin and high quality. Moreover, customers can enjoy free delivery if they do online shopping of 38 baskets with fix price. The Saigon Co.op also … [Read more...] about BUSINESS NEWS IN BRIEF 16/1
Benefits of streamlined business regulations
The cost and money saved will be translated into resources for business activities, helping to create more wealth for the nation. But more importantly, this result is the affirmation of the message to build a facilitating government which always accompanies businesses. The government is proactive in designing an effective legal system with sound policies and institutions in order to support the economy. The government facilitates rather than replaces the market so that the business environment in Vietnam is able to equal those of the top ASEAN economies. The government’s words come with concrete actions. In fact, the struggle to cut business regulations has always been a long-running and fierce battle because it is a tug of war between the close-minded who want to keep regulations in place to easily control businesses and the open-minded who want to set the resources of businesses free. Even the youngest of the generation of experts who first waged the war against regulations, … [Read more...] about Benefits of streamlined business regulations
Tough stance needed on tax official violations
NA deputy Truong Trong Nghia from HCM City. — VNA/VNS Photo National Assembly (NA) deputies agree it is important to penalise tax officials who provide illegal solutions for taxpayers. According to NA deputy Truong Trong Nghia from HCM City, most of the cases are businesses complaining about tax officials who requested bribes to complete the tax paying process. Some tax officials have given bad advice and illegal solutions to help taxpayers avoid paying their taxes in full, Nghia told an NA group discussion session about the draft law on tax management on Monday. This practice means both sides – taxpayers and officials – benefit from scams while the State and people suffer. Nghia suggested the Government regulate the obligations and rights of tax officials and forbid them from making illegal deals with taxpayers. “Tax officials should earnestly help businesses and individuals pay taxes in the fastest and most convenient way,” Nghia said. According to the … [Read more...] about Tough stance needed on tax official violations