The Airports Corporation of Vietnam (ACV) plans to sell some 166 million shares to French airport authority Aéroports de Paris (ADP), which is set to become a strategic investor. ACV, the largest enterprise in Vietnam's transport sector, said in a draft resolution prepared for its first shareholders' meeting on March 16 in HCM City that the initial price of the shares are expected to be 13,100 VND (58 US cents) each. With such share volume and price, ADP will hold some 7.4 percent of ACV's total equity of 22.4 trillion VND. If the agreement is successful, the French company will be restricted in transferring its shares for at least 10 years. ACV Chairman Nguyen Nguyen Hung told the press in January that ADP was the only investor, at that time, that met the requirements of the Ministry of Transport to conduct negotiations in the role of a strategic partner. Other organisations that proposed, but failed, to become strategic investors of ACV were Changi Airport … [Read more...] about Aéroports de Paris to become Airports Corporation of Vietnam’s strategic investor
Corporate
Corporate scholarships facilitate learning
The military-run telecommunications group Viettel’s branch in central Quang Binh province granted scholarships to 60 disadvantaged students in Quang Trach district on October 14. The funding will continue to cover other areas in the province as Viettel intends to present 610 scholarships in 61 local difficult communes within 2015. Available since 2014, the Viettel scholarship programme is expected to run for ten years with a total funding of 260 billion VND (11.7 million USD). The same day, impoverished students in northern Bac Ninh province received 475 scholarships worth 1 million VND (45 USD) each based on their outstanding results during the 2014-2015 academic year. The Phu My Hung Development Corporation and Bao Viet Group’s local branch contributed to the fund.-VNA … [Read more...] about Corporate scholarships facilitate learning
Corporate Income Tax Extended One More Year
Corporate Income Tax Extended One More Year According to his decision, enterprises with an average of 300 employees during 2011, not counting workers with contracts of three months or less, as well as co-operatives lawfully established and operating which have revenue from the production or processing of agricultural, wood, seafood, garment, footwear, or electronic products, or from development, construction, and installation of infrastructure works, have the right to delay payment of 2011 corporate income taxes for one year from the due date. Accordingly, corporate income tax in the first quarter of 2011 shall be settled before April 30, 2012; tax in the second quarter of 2011 shall be cleared before July 30, 2012; slow third quarter of 2011; tax in the third quarter of 2011 shall be paid before October 30, 2012; and tax in the fourth quarter of 2011 shall be settled before March 31, 2013. This decision takes effect on November 30, 2011. Thanh Yen more news … [Read more...] about Corporate Income Tax Extended One More Year
Leading economies agree plan to fight corporate tax avoidance
The Group of 20 major economies have endorsed a package of measures to tackle corporate tax avoidance, but questions remain about whether countries will follow through on the plans or leave loopholes multinationals can exploit. G20 finance ministers agreed to back proposals drawn up by the Organisation for Economic Co-operation and Development (OECD) which aim to shake up rules dating back almost a century that govern taxation of profits from international commerce. The ministers reached the agreement against a backdrop of concern about weak economic growth, tight government finances and media reports on the tax structuring used by companies including Starbucks and Google that have spurred public anger in Europe and the United States in recent years over tax avoidance. "This is a reaction of people who cannot stand anymore that they pay their fair share of taxes, that they contribute to fiscal consolidation while companies, especially multinationals, can avoid tax," European Economic … [Read more...] about Leading economies agree plan to fight corporate tax avoidance
Cement corporation breaks ground on real estate project
The Hanoitimes - The Vietnam Cement Corporation has started construction on the Vicem centre in the new urban area of Cau Giay District. The VND2 trillion (US$95.7 million) centre will consist of offices and a trade centre. The 31-storey building will cover an area of 8,476 square metres. Construction is expected to complete by June, 2014. KTDT … [Read more...] about Cement corporation breaks ground on real estate project