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VietNamNet Bridge - Established years ago, the taskforce in charge of fighting transfer pricing under the General Department of Taxation (GDT) remains unheard of by the public.  Enterprises in automobile manufacturing lead in transfer pricing Transfer pricing has become a burning issue as more signs of foreign invested enterprises (FIEs) conducting transfer pricing have been found. According to the Ministry of Finance (MOF), FIEs witnessed the growth rate of 23 percent in revenue in 2011-2016 and 19 percent in assets. However, they reported a loss of 44-51 percent for that period, which raised doubts. The Vietnam Chamber of Commerce and Industry (VCCI) pointed out that besides Coca-Cola and Metro, other big FIEs are also allegedly conducting transfer pricing. Nguyen Thi Lan Anh, deputy director of the GDT’s Inspection Division, said GDT has recently intensified inspections at FIEs which have related-party transactions. In 2017, GDT inspected 734 enterprises and released … [Read more...] about Vietnam’s fight against transfer pricing loses steam

VietNamNet Bridge - Macroeconomic targets were built with the presumed crude oil price at below $50 per barrel. However, the price has exceeded the $90 per barrel threshold, nearing $100. The petrol price has increased again After six times of raising the retail petrol price this year, the petrol price increased by VND2,650 per liter in total. The retail price exceeded VND22,000 for RON 95 petrol and nearly reached VND21,000 for E5 RON 92. Analysts warned that the macroeconomic indicators in 2018 set earlier this year may not be accurate as they were based on the low crude oil price of $50 per barrel. In reality, the price is nearly double. Analysts warned that the macroeconomic indicators in 2018 set earlier this year may not be accurate as they were based on the low crude oil price of $50 per barrel. In reality, the price is nearly double. RELATED NEWS Inflation in 2019: will it remain below 4-5 percent? High CPI increase raises concerns about inflation in 2018 … [Read more...] about Petrol price hike may lead to high inflation

VietNamNet Bridge - VinFast has caught attention from the public with its impressive presence at 2018 Paris Motor Show. Now it needs to choose a reasonable pricing strategy to conquer the home market. VinFast has made an impressive presence at 2018 Paris Motor Show Analysts are guessing wildly about the prices of the two first models of VinFast. Will they be super cars with BMW’s quality and Mazda’s price?  Some observers believe that a high-end car with German quality and Italian design would have a ‘Vietnamese price’.However, VinFast is not strong enough to attract buyers if it is as expensive as BMW. The most likely scenario is that VinFast’s image should be ‘pegged’ to BMW with the quality a bit lower than the German brand and the price higher than Mazda. A Chinese brand also succeeds with this strategy. Debut VinFast had a wonderful performance at Paris Motor Show with the presence of David Beckham at the stall next to the one of … [Read more...] about What will VinFast’s pricing strategy be like?

VietNamNet Bridge - Contrary to all predictions, BPhone 3, or the third generation of BPhone, a made-in-Vietnam product of BKAV Corporation, has been praised by domestic experts, who criticized BPhone and BPhone 2. BPhone 3 is really impressive “With infinity screen, bokeh camera to blur background, water resistance and reasonable price, BPhone 3 is really impressive,” GenK, a technology website commented. The special thing of BPhone 3 is that it doesn’t have a dual camera like other smartphones. The product only has a single camera, but the AI camera blurs backgrounds thanks to Google’s algorithm, called ‘BKAV Natural Bokeh’. The upper border is a bit thick, creating a feeling of disproportion. However, due to the limitations of LCD technology, this is something expected. US$1=VND22,000 RELATED NEWS Will Bphone 2 be marketed this year? Bphone 3 officially launched Bizlive … [Read more...] about BPhone 3

VietNamNet Bridge – The Asian Development Bank (ADB) said urbanization in Vietnam has been proceeding very quickly, as seen in the expansion of the administrative boundary of Hanoi and HCM City, where formerly agricultural land is now being used for industrial, trade and service activities. The urbanization in Vietnam has been proceeding quickly Dr of Planning and Urban Design Nguyen Luu Bao Doan said that Vietnam’s economy grows on two ‘pillars’ – Hanoi and HCM City. The two cities can enjoy amenities at lower costs and higher life quality than other cities/provinces.  Hanoi and HCM City are also the localities that foreign businesses consider first when they want to set up head offices. The high population density in the two urban areas provides daily services, such as electricity, water, waste water treatment and public transport, at lower costs than in rural areas.  The rapid population increase during urbanization leads to many problems, … [Read more...] about Rapid urbanization worsening environmental dangers in VN