As Vietnam tightens its grip on transfer pricing, firms are being advised to keep themselves posted on how to record transactions of related parties. Analysts are urging relevant companies to undertake the correct processes RSM signs partnership agreement with Smart Train RSM unveiled its partnership with financial educator Smart Train last week, aiming to work together on various industry initiatives. In particular, RSM will help Smart Train roll out training programmes, seminars, and workshops, while building an industry-wide network and hosting different types of promotional events. Together with Smart Train, RSM wants to keep finance professionals updated on the latest regulations within Vietnam, as well as international practices in finance and accounting. The two partners will also provide scholarships, career mentoring services, and internships for university students, hoping to foster the next generation of high-quality financiers in Vietnam. At last … [Read more...] about Transfer pricing research advised
Multinational transfer pricing
PM urges leaders of multinationals to support EVFTA in Davos
PM urges leaders of multinationals to support EVFTA in DavosThe Saigon Times Daily CEO of Apple Inc. Tim Cook (L) reveals the group’s intention to set up a regional data center in Vietnam during his meeting with Prime Minister Nguyen Xuan Phuc on the sidelines of the 2019 World Economic Forum Annual Meeting in Switzerland on January 23 – PHOTO: VNA HCMC – Prime Minister Nguyen Xuan Phuc called on the leaders of the world's leading multinationals to lobby the European Union for quicker approval of the EU-Vietnam Free Trade Agreement (EVFTA) to facilitate stronger investment cooperation between Vietnamese and European businesses on the sidelines of the 2019 World Economic Forum Annual Meeting in Davos, Switzerland, on January 23 (local time), reported the Vietnam News Agency. At a reception for the chief executive officer (CEO) of American multinational technology company Apple Inc., Tim Cook, the prime minister spoke highly of the group’s achievements in … [Read more...] about PM urges leaders of multinationals to support EVFTA in Davos
Prime Minister meets leaders of multinational groups in Davos
Prime Minister Nguyen Xuan Phuc (R) meets with CEO of Apple Tim Cook (Photo: VNA) Davos (VNA) – Prime Minister Nguyen Xuan Phuc received leaders from many world leading multinational corporations on the sidelines of the World Economic Forum (WEF) 2019 in Davos on January 23 (local time). At a reception for CEO of Apple Tim Cook, the Prime Minister congratulated the group on its successful business activities in Vietnam over the past time and expressed his support for the establishment of an Apple data centre in Vietnam. The PM hoped the group will continue investing effectively and transparently in Vietnam in the long run as well as serve as a bridge for US enterprises to increase investment in the Southeast Asian country. Meeting CEO of AB Inbev Carlos Brito, PM Phuc highly appreciated the group’s investment in Vietnam and affirmed that the Vietnamese government is stepping up efforts to restructure the economy towards sustainable development, and improve the business … [Read more...] about Prime Minister meets leaders of multinational groups in Davos
Plan to tax business households causes controversy
Taxing business households with annual revenue from 100 million VND (4,300 USD) is causing controversy. (Photo: VNA) Hanoi (VNS/VNA) - The General Department of Taxation’s plan of taxing business households with annual revenue from 100 million VND (4,300 USD) is causing controversy. In the Document No 4965 regarding tax management on business households who were subjects to presumptive tax, the tax watchdog was asked to conduct a review on individuals and business households nation-wide subjected to tax management and impose tax on those earning revenue from 100 million VND. Those mentioned even included individuals running irregular businesses such as motorbike drivers and vendors, who were assumed to have an unstable and low income, which has triggered a stir. In an explanation, Ta Thi Phuong Lan, Deputy Director of the Individual Income Tax Management Department, said the tax watchdog would only tax business households and individuals with fixed business location and with … [Read more...] about Plan to tax business households causes controversy
Taxing business households proves controversial
The General Department of Taxation’s plan of taxing business households with annual revenue from VND100 million (US$4,350) is causing controversy. In the Document No 4965 regarding tax management on business households who were subjects to presumtive tax, the tax watchdog was asked to conduct a review on individuals and business households nation-wide subjected to tax management and impose tax on those earning a revenue from VND100 million. Those mentioned even included individuals running unregular businesses such as motorbike drivers and vendors, who were assumed to have an unstable and low income, which has triggered a stir. In an explanation, Ta Thi Phuong Lan, Deputy Director of Individual Income Tax Management Department, said the tax watchdog would only tax business households and individuals with fixed business location and with annual revenue from VND100 million. She said checking people’s finance did not always mean they must pay tax. Lan stressed that small … [Read more...] about Taxing business households proves controversial