According to Decree No 114/2020/NĐ-CP, all enterprises, co-operatives, agencies and organisations established under Vietnamese law and generating income of no more than VND200 billion (US$8.58 million) a year are eligible. The 30 per cent reduction is only applicable to income generated in 2020. … [Read more...] about Vietnam approves 30% CIT reduction
Vietnam economic news
Vietnam postpones commercial flights to repatriate nationals amid fresh Covid outbreak
People seeking to return home now have to contact Vietnamese embassies and fly on 10 humanitarian repatriation flights a month to be operated from the three places. On arrival they will be quarantined at military-run isolation facilities. … [Read more...] about Vietnam postpones commercial flights to repatriate nationals amid fresh Covid outbreak
Covid-19 crisis leads to lower incomes, living conditions for tens of thousands of families
Health Ministry holds urgent meeting after domestic COVID-19 case found The Ministry of Health on November 30 convened an urgent meeting with relevant agencies, and Ho Chi Minh City Health Department representatives to direct the swift implementation of all epidemic prevention measures … [Read more...] about Covid-19 crisis leads to lower incomes, living conditions for tens of thousands of families
ASEAN customs transit system launched
Jakarta (VNA) - The online ASEAN Customs Transit System (ACTS) was officially launched on November 30 to accelerate trade in goods by road within Southeast Asia. In 2017, ASEAN economic ministers set the twin goals of reducing trade transaction costs by 10 percent by 2020 and doubling intra-bloctrade between 2017 and 2025. ACTS has been developed to realise this goal to allow businesses to lodge e-transit declarations directly to ASEAN customs authorities and track the movement of their goods from loading to delivery. Being developed with the support of the European Union, ACTS is simplifying the movement of goods across the region, making it more efficient and cost-effective. Following trials in Cambodia, Laos, Malaysia, Singapore, Thailand, and Vietnam, the system has now been formally launched. The first successful ACTS transit movement occurred on October 23-24 when a truck travelled from Singapore via Malaysia to … [Read more...] about ASEAN customs transit system launched
ASEAN, US finance, central bank deputies’ meeting held
Hanoi (VNA) - Deputy ministers of finance and deputy governors of central banks in ASEAN and the US gathered together at an online meeting on October 1, held as part of the ASEAN Finance Ministers and Central Bank Governors’ Meeting hosted by Vietnam. The dialogue between finance-banking sectors in ASEAN and the US Department of the Treasury is an annual event considered important for sharing information and views on finance-banking and helping relevant parties effectively coordinate macro-economic policies. Participants discussed several issues of regional and global concern, including economic policies in response to COVID-19, the transparency of public debt and financial management, and finance for infrastructure development. They shared the view that as the global economy is facing an array of difficulties and challenges, close bilateral and regional cooperation among countries’ finance-banking agencies has a crucial role to play. Deputy Minister of Finance Tran … [Read more...] about ASEAN, US finance, central bank deputies’ meeting held
