OUTLOOK 2018 General Overview and Update on Draft Law on Special Administrative Economic Zones. British Business Group Vietnam 19 April 2018
|
|
- Gavin Hodge
- 5 years ago
- Views:
Transcription
1
2 General Overview and Update on Draft Law on Special Administrative Economic Zones British Business Group Vietnam 19 April 2018
3 AGENDA ABOUT ACSV LEGAL GENERAL OVERVIEW OF LEGISLATION 2018/2019 INTRODUCTION TO ECONOMIC ZONES IN ASEAN GENERAL BACKGROUND ON SEZs ECONOMIC ZONES/SEZs IN VIETNAM KEY POINTS ON DRAFT LAW ON SAEZ FUTURE OUTLOOK ON SAEZs IN VIETNAM CONTACT US
4 ABOUT ACSV LEGAL ACSV Legal is a Ho Chi Minh City, Vietnam-based law firm. The firm is led by Managing Partner, Mark Oakley who has been living and working in Vietnam since Established in 2014 and most recently, at the end of March 2018, it was rebranded to ACSV Legal, with a new logo and new website: ACSV Legal has a premier corporate/m&a practice in Vietnam and its approach is to understand the legal, commercial and political dynamics of every matter. We have extensive experience in private equity transactions with a focus on a strong commercial approach. ACSV Legal currently has a team of lawyers who are qualified in Vietnam and abroad in civil and common law jurisdictions. Our lawyers are bi-lingual in Vietnamese, German, English, Italian, Dutch, French and Malay. Our clients are active in a wide range of sectors and industries: manufacturing, food & beverage, hospitality and leisure, education, pharma, health, beauty & fitness, IT, apparel and fashion, retail and public relations. 4
5 GENERAL OVERVIEW OF LEGISLATION 2018/2019 Laws in effect from 1 January 2018 Law on Small and Medium-Sized Enterprise Support Law on Tourism Law on Foreign Trade Management Laws in effect from 1 July 2018 Law on Technology Transfer Law on State Compensation Liability Law on Public Debt Management Laws to be approved and coming into effect in 2019 Law on Competition Law on Network Security Law on Special Administrative Economic Zones 5
6 INTRODUCTION TO ECONOMIC ZONES IN ASEAN United Nations Industrial Development Organisation (Vietnam Country Office) has set out 5 different types under the umbrella term of economic zones. ECONOMIC ZONES Industrial Parks Special Economic Zones (SEZs) Eco-Industrial Park Technology Parks Innovation Districts There are about 1,000 economic zones in ASEAN (893 industrial parks, 84 special economic zones, 2 eco-industrial parks, 25 technology parks and 1 innovation district). Stage development of a country determines the most appropriate economic zone and competitive strategy. 6
7 GENERAL BACKGROUND ON SPECIAL ECONOMIC ZONES (SEZs) What is an SEZ? An area which has been demarcated as a type of economic zone with a more liberal set of economic laws to foster growth and to improve the location s competitiveness. What are typical characteristics of an SEZ? Applicable economic laws are more liberal/different from the rest of the country; Easy access to local firms, capital, skilled and unskilled labour; Located within a country's national borders; Has good and varied transportation modes; and Is administered by a single management administration. What are the aims for setting up an SEZ? Developing country perspective: increase trade and (foreign) investment, create jobs, regional development, and flexibility in policy testing. Investor perspective: access to local market and low-cost labour, vertical integration, and home market competitiveness. 7
8 GENERAL BACKGROUND ON SEZs (CONTINUED) The World Bank created the following table, setting out distinctions between types of SEZs. The concept of an SEZ has been implemented in more than 140 countries in various forms and with different objectives. Type Objective Size Typical Location Typical Activities Markets Free Trade Zone support trade <50 hectares port of entry entrepots and trade related domestic, re-export Export Processing Zone export <100 hectares none manufacturing, mostly export EPZ (traditional) manufacturing processing Free enterprises export no minimum countrywide manufacturing, mostly export (single unit EPZ) manufacturing processing Hybrid EPZ export manufacturing <100 hectares none manufacturing, processing export, domestic Free port/sez integrated development >1000 hectares none multi-use internal, domestic, Urban Enterprise Zone urban revitalisation export <50 hectares urban/rural multi-use domestic 8
9 ECONOMIC ZONES/SEZs IN VIETNAM In 2015 there were 313 economic zones in Vietnam (est.) 292 industrial parks; 18 special economic zones (3 are referred to as export-processing zones and 15 are simply referred to aseconomic zones); and 3 technology parks. Definition of Economic Zone under Decree No. 29/2008/ND-CP Zone which has an economic area separated from the investment and business environment with geographical boundaries and especially favourable conditions for investors, and established in accordance with regulations of the government. Timeline Idea of setting up SEZs dates back to 2012; First draft law put on hold in 2014; and Current draft law Law on Special Administrative Economic Zones on Van Don, North Van Phong and Phu Quoc (Draft Law) is planned to be approved in May 2018 and to enter into force on 1 January
10 ECONOMIC ZONES/SEZs IN VIETNAM (CONTINUED) Focused industries and sectors Development of R&D activities, creative start-ups, new sciences and technologies, highquality health and education, high-class resorts and tourism services. Draft Law identifies 3 areas as Special Administrative-Economic Zones (SAEZ) Van Don (Quang Ninh) First made into an economic zone in 2007 to establish itself as a hub for eco-tourism and international trade; North (Bắc) Van Phong (Khanh Hoa) The main focus will be its port and the businesses surrounding it; an industrial center closely attached to the nearby seaport will be developed to create investment opportunities for various sectors; and Phu Quoc (Kien Giang) Similar to Van Don, the government s plan for the Phu Quoc SAEZ is to bank on its beautiful beaches to attract tourism and investments. 10
11 ECONOMIC ZONES/SEZs IN VIETNAM (CONTINUED) Van Don (Quang Ninh) Development in hi-tech supporting industry, ecotourism, culture tourism, culture industry, air transportation services and related services, international commerce and consumption. North (Bắc) Van Phong (Khanh Hoa) Development in IT, mechanical engineering, seaport for goods and international passengers, seaport logistic, commerce and finance. Source: VietNam Net (2017) Phu Quoc (Kien Giang) Development in resorts, ecotourism, conference, international exhibitions, international commerce and consumption, assets management, and health services. 11
12 KEY POINTS ON DRAFT LAW ON SAEZs Preferential treatment to be provided for identified projects in an SAEZ Business registration and procedures efficiency; Preferential treatment in land-use rights; Mortgaging of assets attached to land; Waiver of construction permit; Tax preferential treatment; Immigration preferential treatment; and Access to casino for Vietnamese citizens. 12
13 KEY POINTS ON DRAFT LAW ON SAEZs (CONTINUED) Business Registration and Procedures Efficiency No investment projects required before the establishment of organisations in an SAEZ; ERC issued within 3-5 days; IRC issued within 15 days; Not subject to conditions applied to foreign investor if conducting business in priority and identified industries and trades; and SAEZ Administrative Centre to be set up. 13
14 KEY POINTS ON DRAFT LAW ON SAEZs (CONTINUED) Preferential Treatment in Land-Use Rights Form of land use right Type SAEZ Standard/Non-SAEZ Land lease and allocation (residential development project) Normal term Up to 70 years Up to 50 years Special term Up to 99 years Up to 70 years Land and water surface rent exemption Up to 15 years / entire project Up to 3, 7, 11 or 15 years Waiver of Construction Permit For construction buildings in urban development/housing projects with approved 1/500 detailed zoning plan; and For houses, construction buildings below 7 storeys or below gross floor area of 500m2 with approved 1/500 detailed zoning plan. 14
15 KEY POINTS ON DRAFT LAW ON SAEZs (CONTINUED) Tax Preferential Treatment Provided to companies/individuals investing/working in an SAEZ, including and not limited to: Type of Tax Corporate income tax (CIT) Personal income tax (PIT) Special consumption tax (SCT) Import tax and value added tax (VAT) Key Points General CIT rate of 10% for 15 years; Other cases: 10% for 30 years / entire project with 4 years tax holiday followed by 9 years of 50% reduction; and Certain projects with revenue subject to SCT: 10% for 10 years with 2 years tax holiday followed by a 50% reduction for 5 years. Tax holiday (but not beyond 2030): 5 years generally and 10 years for managers, scientists and specialists; and 50% reduction of PIT for subsequent years after the expiration of the relevant tax exemption period. New casino projects shall be granted a preferential SCT rate of 10% for 10 years from the date the project generates taxable income. Exemption of import tax and VAT for the entire investment period or one time application when imported for the first time into Vietnam. 15
16 KEY POINTS ON DRAFT LAW ON SAEZs (CONTINUED) Immigration Preferential Treatment Foreigners coming into an SAEZ by air and sea transport may be exempted from visa requirements if term of stay is 60 days or less; Work permit for certain identified skilled foreign labour may be waived if the working period is less than - 60 days in a row and not exceeding 180 days per year for managers/executives and experts; or - 30 days in a row and not exceeding 60 days for technicians; and Submission of foreign labour report in relation to such identified foreign labour not needed. Access to casino by Vietnamese citizens Vietnamese citizens are permitted to play in casinos located in an SAEZ. 16
17 FUTURE OUTLOOK FOR SAEZs IN VIETNAM Not without controversy, especially issues related to cluster development and employee working conditions; While Vietnam may be well-known for the Government s strong grip over businesses and their strict regulation, the SAEZs will have more relaxed laws when it comes to taxation and land lease; The Draft law, once into effect (expected per 1 January 2019), will offer a range of concessions typically afforded to an SEZ investor; The intention behind the set up of SEZs/SAEZs is positive; and If implemented according to proper regulations whilst at the same time considering the impact the SEZs/SAEZs may have, it provides a win-win situation for parties involved. 17
18 CONTACT US MARK OAKLEY ELAINE CHEW HIEU PHAM MARIEKE VAN DER PIJL MANAGING PARTNER SENIOR ASSOCIATE ASSOCIATE BUSINESS DEVELOPMENT MANAGER elaine@acsvlegal.com hieu.pham@acsvlegal.com marieke@acsvlegal.com ACS LEGAL VIETNAM COMPANY LIMITED (ACSV LEGAL) LEVEL 2, SOMERSET CHANCELLOR COURT, NGUYEN THI MINH KHAI STREET DISTRICT 1, HO CHI MINH CITY, VIETNAM T: F:
Tax Reform in Vietnam Issues Need to be Addressed. Nguyen Van Phung Tax Policy Department Ministry of Finance Vietnam
Tax Reform in Vietnam Issues Need to be Addressed Nguyen Van Phung Tax Policy Department Ministry of Finance Vietnam 1 Outline of the Presentation: Overall of the reform of the Vietnamese tax system First
More informationDanang: Current Economic Landscape and Business Outlook. Presentation by Hoang Thuy Duong Partner and Head of Trade and Customs, KPMG 15 May 2018
Danang: Current Economic Landscape and Business Outlook Presentation by Hoang Thuy Duong Partner and Head of Trade and Customs, KPMG 15 May 2018 Danang: Economy & FDI Update Danang by Numbers Land area
More informationPress Release. Press Release SAVILLS VIETNAM REPORT ON INDUSTRIAL SECTOR NATIONWIDE 1. OVERVIEW 24/09/2015
24/09/2015 SAVILLS VIETNAM REPORT ON INDUSTRIAL SECTOR NATIONWIDE 1. OVERVIEW Co.,Ltd 18 th Floor, Continental Tower 81-85 Ham Nghi Street District 1, HCMC T: +84 8 3823 9205 savills.com.vn Large-scale
More informationVIETNAM S CURRENT FOREIGN DIRECT INVESTMENT STATUS AND FUTURE OUTLOOK ON THE EU- VIETNAM FREE TRADE AGREEMENT
VIETNAM S CURRENT FOREIGN DIRECT INVESTMENT STATUS AND FUTURE OUTLOOK ON THE EU- VIETNAM FREE TRADE AGREEMENT OLIVER MASSMANN - Partner, General Director DUANE MORRIS VIETNAM LLC 2010 Duane Morris LLP.
More informationLegal news. Contents. August 2007
A T T O R N E Y S. P A T E N T & T R A D E M A R K A G E N T S. I N V E S T M E N T & M A N A G E M E N T C O N S U L T A N T S Legal news Contents BANKING LAW... 2 ENTERPRISE LAW... 4 Other Sectors...
More informationRUSSELL BEDFORD KTC. Member of Russell Bedford International - with affiliated offices worldwide NEWSLETTER. Issue 9, October 2014
RUSSELL BEDFORD KTC Member of Russell Bedford International - with affiliated offices worldwide NEWSLETTER Issue 9, October 2014 IN THIS ISSUE Page Amendment and supplement of tax provisions New tax incentives
More informationINVESTMENT environments IN VIETNAM
VIETNAM The Economic and Cultural Office in Taipei INVESTMENT environments IN VIETNAM Mr. Bui Trong Dinh Assistant to the Head Office / in charge of investment Taipei - October 2010 1 VIETNAM investment
More informationLegal news. Contents. Vision & Associates A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS. May 2007
A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS Legal news Contents LAW ON INTELLECTUAL PROPERTY... 2 Other Sectors... 3 Taxation... 3 Finance... 4 Securities... 4 Insurance...
More informationOutlook for Central Vietnam, including Tax Incentives
Outlook for Central Vietnam, including Tax Incentives Presentation by Nguyen Quang Phuc, Director, Tax and Advisory Services ECV Business Forum, 24 November 2017 Outlook for Central Vietnam, including
More informationVietnam Tax Quick Guide 2017
Vietnam Tax Quick Guide 2017 Domicile Corporate Services is a leading provider of professional compliance support, accounting, tax, payroll, outsourcing and advisory services in Vietnam. We assist foreign
More informationMs. Trang Nguyen (Thalia) Tel:
Ms. Trang Nguyen (Thalia) Tel: +84-90 969 5881 Email : trang.nt@longhau.com.vn www.longhau.com I. Long Hau Corp II. Long Hau Industrial Park i. Strategic location ii. iii. iv. Qualified zone Serviced zone
More informationLABOUR UPDATE. enterprises to. Labour Code which was. provided they. to do so. are licensed. changes to. the original. and Maternity leave for
Newsletter Tax, Audit, Accounting and Legal Update Newsletter, June 20122 Amendedd Labour Code Additional Tax Reliefs for Enterprises and Individuals Approved New Circular on Foreign Contractor Tax Implementation
More informationLegal news. Contents. Vision & Associates A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS.
A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS Legal news Contents HIGH LIGHT... 2 Other Sectors... 7 Banking...7 Taxation...7 Trade...7 Transport...8 Construction...8 Interior
More informationSTRATEGIC LOCATION. Vinh
STRATEGIC LOCATION CHINA LAOS THAILAND HANOI CAMBODIA NGHE AN Vinh Located in the center of the North Central Coast region of Vietnam. Connect North East Thailand, Laos to the South China Sea. It is a
More informationWork Permit & Employment Updates for Foreigners in Vietnam: Practical Issues, Taxes & Problems
Work Permit & Employment Updates for Foreigners in Vietnam: Practical Issues, Taxes & Problems Matthew Lourey Managing Partner, Domicile Corporate Services Auscham, HCMC, 28 June 2018 Topics for Today:
More informationNewsletter No. 77. A brief introduction to the legal environment for investments in Vietnam. December 2012
Newsletter No. 77 (EN) A brief introduction to the legal environment for investments in Vietnam December 2012 All rights reserved Lorenz & Partners 2012 Although Lorenz & Partners always pays great attention
More informationVietnam Tax. Quick Guide Domicile Corporate Services.
Vietnam Tax Quick Guide 2018 Domicile Corporate Services is a leading provider of professional compliance support, accounting, tax, payroll, licensing, outsourcing and advisory services in Vietnam. We
More informationCENTURY 21 JOINT STOCK COMPANY CENTURY 21 JOINT STOCK COMPANY CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015
CENTURY 21 JOINT STOCK COMPANY CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015 This Financial Statements was translated from Vietnamese Official Financial Statements and internal
More informationINVESTMENT IN TEXTILE IN VIETNAM Presented by: Mr. Nguyen Van Tuan Chairman of Vietnam Cotton and Spinning Association (VCOSA)
INVESTMENT IN TEXTILE IN VIETNAM 2017-2025 Presented by: Mr. Nguyen Van Tuan Chairman of Vietnam Cotton and Spinning Association (VCOSA) 1 Content I. Vietnam Textile Industry 2000 2016 in overview II.
More informationCyprus: A dynamic business and investment centre INTAX FORUM
Cyprus: A dynamic business and investment centre INTAX FORUM Kiev, 29 th May 2017 Cyprus Investment Promotion Agency Cyprus: an international business hub A destination of choice for doing business A reputable
More informationBATUMI BUSINESS TOUR 27 SEPTEMBER - 01 OCTOBER 2016 BUSINESS TOUR
BATUMI BUSINESS TOUR 27 SEPTEMBER - 01 OCTOBER 2016 BUSINESS TOUR GENERAL INFORMATION ABOUT GEORGIA Area: 69,700 sq km Population: 3.7 mln Life expectancy: 75 years Official language: Georgian Literacy:
More informationDISCLAIMER: These presentations and their content do not represent a consulting. Participants should not act solely on the basis of this material and
1 DISCLAIMER: These presentations and their content do not represent a consulting. Participants should not act solely on the basis of this material and its content. Its usefulness is for information only
More informationVietnam: Key Changes under the New Law on Investment
August 2015 www.indochinecounsel.com Vietnam: Key Changes under the New Law on Investment Dear All, On 26 November 2014 the National Assembly of Vietnam adopted two new laws of great importance to investors:
More informationDECREE No. 108/2006/ND-CP OF SEPTEMBER 22, 2006, DETAILING AND GUIDING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE INVESTMENT LAW THE
DECREE No. 108/2006/ND-CP OF SEPTEMBER 22, 2006, DETAILING AND GUIDING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE INVESTMENT LAW THE GOVERNMENT Pursuant to the December 25, 2001 Law on Organization
More informationLegal news. Contents. Vision & Associates A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS.
A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS Legal news Contents Law on Transfer of Technology... 2 Other Sectors... 4 Finance... 4 Banking... 5 Securities... 5 Insurance...
More informationCyprus: A dynamic business and investment centre
Cyprus: A dynamic business and investment centre Cyprus India Business Forum New Delhi, 27 th April 2017 Cyprus Investment Promotion Agency Cyprus: an international business hub A destination of choice
More informationCyprus EU Citizenship By Investment
Cyprus EU Citizenship By Investment CYPRUS EU CITIZENSHIP BY INVESTMENT Cyprus became a member of the European Union in May 2004 and joined the EU Monetary Union in 2008 Cyprus has a stable legal and tax
More informationBREAKTHROUGH SOLUTIONS FOR ESTABLISHING TYPES OF FREE ECONOMIC ZONES IN VIETNAM. Doctor of Science Vo Dai Luoc Asia Pacific Economic Center
BREAKTHROUGH SOLUTIONS FOR ESTABLISHING TYPES OF FREE ECONOMIC ZONES IN VIETNAM Doctor of Science Vo Dai Luoc Asia Pacific Economic Center Viet Nam has escaped from the status of underdeveloped country
More informationLegal news. Contents. Vision & Associates A TTORNEYS. PATENT & T RADEMARK A GENTS. I NVESTMENT & M ANAGEMENT C ONSULTANTS.
A TTORNEYS. PATENT & T RADEMARK A GENTS. I NVESTMENT & M ANAGEMENT C ONSULTANTS Legal news Contents Investment Law...2 Other Sectors...5 Finance... 5 Taxation... 5 Banking... 5 Trading... 5 Investment...
More informationTax Newsletter. August 2013
Tax Newsletter August 2013 Table of Contents: NEW DOCUMENTS New Decree guiding the implementation of the amended Laws on CIT and VAT New Circular on Personal Income Tax ( PIT ) GUIDING DOCUMENTS Value
More informationSOCIALIST REPUBLIC OF VIETNAM CONSTRUCTION. Independence - Freedom - Happiness
THE MINISTRY OF SOCIALIST REPUBLIC OF VIETNAM CONSTRUCTION Independence - Freedom - Happiness -------- --------------- No. 1/213/TT-BXD Hanoi, February 8 th 213 CIRCULAR GUIDING THE CALCULATION AND MANAGEMENT
More informationUpdates on tax policies. October 2017
Updates on tax policies October 2017 Contents In this newsletter, Grant Thornton Vietnam offers guidance on updates related to tax policies as follows: 1. 2. 3. Reform in administrative procedures for
More informationTHE UNION OF MYANMAR THE STATE PEACE AND DEVELOPMENT COUNCIL THE DAWEI SPECIAL ECONOMIC ZONE LAW
THE UNION OF MYANMAR THE STATE PEACE AND DEVELOPMENT COUNCIL THE DAWEI SPECIAL ECONOMIC ZONE LAW JANUARY, 2011 The Dawei Special Economic Zone Law CONTENTS No. Particulars Page 1. Chapter I Title and Definition
More informationGrey areas in the spotlight Update on Investment Regulations Non-public companies
Grey areas in the spotlight Update on Investment Regulations Non-public companies Phong Nguyen, Senior Associate 24 October 2013 Corporate / Vietnam Contents Private placement of shares / bonds Official
More informationBrussels Springboard for Europe Invest in Brussels
Brussels Springboard for Europe Invest in Brussels CETA Free trade agreement CANADA - EU In short: Much more than only taking down tariffs! Ceta s impact > Nafta s impact!! Mutual technical standards recognition
More informationREPORT OF THE DIRECTORS
REPORT OF THE DIRECTORS The Directors of Gemadept Corporation ( the company ) present this report together with the reviewed financial statements for the first 6 months of the fiscal year ending 31 December
More informationMalaysia company registration
Malaysia company registration Table of contents For over a decade, Healy Consultants has efficiently and effectively assisted our Clients with registering their business in Malaysia. We help our Clients
More information1THE REPUBLIC 2 2ECONOMY 4 4INDUSTRIAL PARK 8 5THE LAND-USE MASTER PLAN 10 7BENEFITS 14 8 CONTENTS ONE-STOP OF BELARUS
CONTENTS 1THE REPUBLIC 2 OF BELARUS 2ECONOMY 4 AND INDUSTRY 3 ATTRACTION 6 OF FOREIGN CAPITAL 9 ONE-STOP 10 18 STATION GUARANTEES 20 FOR INVESTORS 4INDUSTRIAL PARK 8 OVERVIEW 5THE LAND-USE MASTER PLAN
More informationTax Alert July 2018 The Draft Decree on Electronic Invoice
Tax Alert July 2018 The Draft Decree on Electronic Invoice July 2018 Tax Update Page 1 The draft Decree on Electronic Invoice (E-invoice) of the Government regulating e-invoices for sale of goods and services
More informationhttp://www.switzerland-family-office.com/relocation/moving-to-jersey.html Relocating to Jersey Not so well known as a jurisdiction to relocate to, Jersey can actually be an attractive option for wealthy
More informationLUXEMBOURG: YOUR RELIABLE PARTNER APRIL 4, 2014
CHAMBER OF COMMERCE OF THE GRAND DUCHY OF LUXEMBOURG LUXEMBOURG: YOUR RELIABLE PARTNER APRIL 4, 2014 11 CHAMBER OF COMMERCE OF THE GRAND-DUCHY OF LUXEMBOURG THE LUXEMBOURG CHAMBER OF COMMERCE 22 CHAMBER
More informationREPORT OF THE BOARD OF DIRECTORS AT THE 2016 ANNUAL GENERAL MEETING OF SHAREHOLDERS
MASAN CONSUMER CORPORATION Address: 12 th Floor, Kumho Asiana Plaza Saigon, 39 Le Duan, Dist. 1, HCMC, Vietnam Tel: (84-8) 62 555 660 Fax: (84-8) 38 109 463 ENGLISH TRANSLATION REPORT OF THE BOARD OF DIRECTORS
More informationEXECUTIVE SUMMARY - A STUDY ON "FORMALIZATION" OF HOUSEHOLD BUSINESS IN VIETNAM
EXECUTIVE SUMMARY - A STUDY ON "FORMALIZATION" OF HOUSEHOLD BUSINESS IN VIETNAM Central Institute for Economic Management would like to thank the Mekong Business Initiative for supporting the preparation
More informationTax Newsletter. July 2013
Tax Newsletter July 2013 Table of Contents: NEW DOCUMENTS New Decree guiding the implementation of the Law on Tax Administration Temporary guidance on the implementation of the amended Law on Tax Administration
More informationSMART M AU R I TI U S. Live. Invest. Work. Play
SMART M AU R I TI U S Live. Invest. Work. Play The Smart City Scheme is an ambitious economic development programme aimed at consolidating the Mauritian International Business and Financial Hub by creating
More informationOutline. Laos in Brief. Battery of Asia and Land-Linked. Investment Support in Lao for investors
Outline Laos in Brief Battery of Asia and Land-Linked Benefit to business sectors Foreign investment support Investment Support in Lao for investors Laos in Brief Laos Population 6,8 million (2015) Text
More informationLAW ON INVESTMENT. National Assembly of the Socialist Republic of Vietnam Legislature XI, 8 th Session
NATIONAL ASSEMBLY No. 59-2005-QH11 SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness LAW ON INVESTMENT National Assembly of the Socialist Republic of Vietnam Legislature XI, 8 th Session
More informationFlash update: Decree 119/2018/ND-CP on E-invoice
September 2018 Tax & Advisory Services Flash update: Decree 119/2018/ND-CP on E-invoice September 2018 Tax update Page 1 Decree 119/2018/ND-CP regulated on electronics invoice (E-invoice) for sale of goods
More informationLUXEMBOURG: YOUR RELIABLE PARTNER DECEMBER 17, 2014
CHAMBER OF COMMERCE OF THE GRAND DUCHY OF LUXEMBOURG LUXEMBOURG: YOUR RELIABLE PARTNER DECEMBER 17, 2014 11 CHAMBER OF COMMERCE OF THE GRAND-DUCHY OF LUXEMBOURG THE LUXEMBOURG CHAMBER OF COMMERCE 22 CHAMBER
More informationPaper F6 (VNM) Taxation (Vietnam) Thursday 7 December Fundamentals Level Skills Module. Time allowed: 3 hours 15 minutes
Fundamentals Level Skills Module Taxation (Vietnam) Thursday 7 December 2017 Time allowed: 3 hours 15 minutes This question paper is divided into two sections: Section A ALL 15 questions are compulsory
More informationPham Quang Huy. University of Economics Ho Chi Minh City, Vietnam
Journal of Modern Accounting and Auditing, June 2015, Vol. 11, No. 6, 322-327 doi: 10.17265/1548-6583/2015.06.004 D DAVID PUBLISHING Introduction of the 2015 Law on Public Investments and Its Effects on
More informationHOW TO SET UP A BUSINESS IN LUXEMBOURG
HOW TO SET UP A BUSINESS IN LUXEMBOURG HOW TO SET UP A BUSINESS IN LUXEMBOURG 1. BUSINESS PERMIT 2. LEGAL FORM 3. IMMIGRATION 4. TAXATION 5. SETTLING DOWN 6. EDUCATION IN LUXEMBOURG 1. BUSINESS PERMIT
More informationAMCHAM KPMG update on VAT of transport & logistic business
AMCHAM KPMG update on VAT of transport & logistic business Ho Chi Minh City 18 Mar 2010 TAX AND CORPORATE SERVICES 2009 KPMG Limited, a Vietnamese limited liability company and a member firm of the KPMG
More informationPOLISH BUSINESS VISIT TO GHANA
POLISH BUSINESS VISIT TO GHANA CONTENT Mandate of GIPC Collaborating Institutions The Ghana Advantage The Investment Environment Key Drivers of the Economy Business Reforms Major Investment Opportunities
More informationBRENDEL & ASSOCIATES. Investments in Vietnam
BRENDEL & ASSOCIATES Investments in Vietnam 2010 HCMC - Head Office Ha Noi - Branch Da Nang - Branch Golden Tower, 9 th Floor, Suite 1006,10 th Floor, Room 702A, 7 th Floor, 6 Nguyen Thi Minh Khai, Pacific
More informationCompulsory versus voluntary social insurance schemes. October 2017
Compulsory versus voluntary social insurance schemes October 2017 Overview of the Social Insurance system in Vietnam The Insurance policy administered by Social Insurance authorities is a major policy
More informationPROCOLOMBIA.CO GUIDE FOR EXPORTING SERVICES FROM COLOMBIA
PROCOLOMBIA.CO GUIDE FOR EXPORTING SERVICES FROM COLOMBIA HOW TO EXPORT SERVICES FROM COLOMBIA? 1. IDENTIFY YOUR SERVICE SUPPLY MODE The first thing you should do is to understand the essential elements
More informationLegal news January 2003
ATTORNEYS. PATENT & TRADEMARK AGENTS. INVESTMENT & MANAGEMENT C ONSULTANTS Legal news Contents Foreign Investment...2 Foreign investment in education and training...2 Trade...2 Goods and services banned
More informationSOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness. General Provisions
GOVERNMENT No. -2006-ND-CP Draft 1653 SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness Hanoi, [ ] 2006 DECREE PROVIDING GUIDELINES FOR IMPLEMENTATION OF LAW ON INVESTMENT Pursuant to the
More informationPPP TO BOOST INFRASTRUCTURE DEVELOPMENT INVESTMENT
PPP TO BOOST INFRASTRUCTURE DEVELOPMENT INVESTMENT By Pham Minh Long/Vuong Son Ha Reason for and Role of Public-Private Partnership Despite considerable efforts to improve Vietnam s infrastructure, the
More informationVIETNAM ESSENTIAL DOING BUSINESS GUIDE
VIETNAM ESSENTIAL DOING BUSINESS GUIDE Hilton Hotel, Kuala Lumpur Friday 20 July 2018 (0900 1230) 1. Setting Up Business Understanding recent changes in the Investment and Enterprise law - the regulatory
More informationAt the heart of Europe: The Luxembourg Economy in a nutshell. Jeannot Erpelding, Director International Affairs, Chamber of Commerce
At the heart of Europe: The Luxembourg Economy in a nutshell Jeannot Erpelding, Director International Affairs, Chamber of Commerce Agenda Luxembourg: Country & Economy snapshot Key sectors 2 Country snapshot
More informationVisit
November 2010 edition contents The end of an era for 'red invoices' An amber light for betting business Lease versus purchase: a tricky decision for foreigners Guidance for the implementation of unemployment
More informationCyprus: (1) Citizenship (2) Permanent Residency (3) Real Estate (4) Tax Residency and Tax Incentives. Greece: In General & Investment Opportunities
Cyprus: (1) Citizenship (2) Permanent Residency (3) Real Estate (4) Tax Residency and Tax Incentives Greece: In General & Investment Opportunities 1 Key Benefits: Free Movement of People: The Successful
More informationSOCIALIST REPUBLIC OF VIETNAM Independent - Freedom Happiness No. 130/2016/TT-BTC Hanoi, August 12, 2016 CIRCULAR
MINISTRY OF FINANCE -------- SOCIALIST REPUBLIC OF VIETNAM Independent - Freedom Happiness --------------- No. 130/2016/TT-BTC Hanoi, August 12, 2016 CIRCULAR ON GUIDELINES FOR THE GOVERNMENT DECREE NO.
More informationPlans for a Pilot Investment Zone Second Meeting of the Working Group on Investment Zones in Iraq November 2011, Istanbul
Plans for a Pilot Investment Zone Second Meeting of the Working Group on Investment Zones in Iraq 23-24 November 2011, Istanbul Christelle Monteillet Iraq Project Advisor, MENA-OECD Investment Programme
More informationInvestment in Myanmar Tax updates. 16 August 2017
Investment in Myanmar Tax updates 16 August 2017 Agenda Overview of foreign investment in Myanmar Taxation system in Myanmar Investment incentives Hot topics and recent updates Other considerations Page
More informationLegal news. Contents. Vision & Associates A TTORNEYS. PATENT & T RADEMARK A GENTS. I NVESTMENT & M ANAGEMENT C ONSULTANTS.
A TTORNEYS. PATENT & T RADEMARK A GENTS. I NVESTMENT & M ANAGEMENT C ONSULTANTS Legal news Contents HIGHLIGHTED NOTES... 2 Other Sectors... 10 Finance - Banking... 10 Securities... 10 Taxation... 10 Labour...
More informationLegal news. Contents. Vision & Associates A TTORNEYS. PATENT & T RADEMARK A GENTS. I NVESTMENT & M ANAGEMENT C ONSULTANTS.
A TTORNEYS. PATENT & T RADEMARK A GENTS. I NVESTMENT & M ANAGEMENT C ONSULTANTS Legal news Contents REAL ESTATE BUSINESS LAW...2 Other Sectors...5 Finance... 5 Banking... 5 Taxation... 6 Insurance... 6
More information10 reasons to invest in France
October 2009 10 reasons to invest in France IFA Keys to understanding the new France 2 1 An economy with a global outlook Foreign companies employ over 2.8 million people in France at 23,000 different
More informationRecent Legal Developments in Vietnam
Recent Legal Developments in Vietnam 1. New Regulations on Seaport Operations On 4 April 2017, the Government issued Decree No. 37/2017/ND-CP on requirements for seaport operations ( Decree 37 ) which
More informationKey Considerations for Establishing a Business in Vietnam
Key Considerations for Establishing a Business in Vietnam Dustin Daugherty and Oscar Mussons April 18, 2017 Vietnam s Investment Outlook for 2017 Why should I move my company to Vietnam now? Share of economic
More informationSri Lanka Steps towards Investment Attraction through Investment Faciliattion Ganga Palakatiya Deputy Director (Research & Policy Advocacy)
Sri Lanka Steps towards Investment Attraction through Investment Faciliattion Ganga Palakatiya Deputy Director (Research & Policy Advocacy) September 2018 8th Meeting of the Asia Pacific FDI Network, Thailand
More informationMauritius A Nurturing Environment
Air Connections Mauritius A Nurturing Environment Mauritius Key Facts Population: 1,280,925 GDP per capita: US$ 7,000 (market price) GDP per capita: (PPP) : US$ $13,500 (2010 est.) FDI:US$ 330m p.a.
More informationVIETNAM GUIDE TO DOING BUSINESS AND TAX BRIEFING
VIETNAM GUIDE TO DOING BUSINESS AND TAX BRIEFING SWISSOTEL LE CONCORDE BANGKOK Monday 6 TH November 2017 (0900 1300) Latest Law Updates! Regulation on trading and distribution by foreign investors (decree
More informationLorenz & Partners Legal Tax and Business Consultants
Lorenz & Partners Legal Tax and Business Consultants Relocating Headquarter Services to Thailand: Legal and Tax Implications Till Morstadt Attorney-at-Law (Germany) Registered Foreign Lawyer (Hong Kong)
More informationn Appendix 2: THE MANITOBA ADVANTAGE
BUDGET 2012 Taxation Adjustments / C19 n Appendix 2: THE MANITOBA ADVANTAGE Manitoba is a diversified economy where no single industry dominates the industrial base. Manitoba has been quick to adjust to
More informationALBANIA TAX CARD 2017
ALBANIA TAX CARD 2017 TAX CARD 2017 ALBANIA Table of Contents 1. Individuals 1.1 Personal Income Tax 1.1.1 Tax Rates 1.1.2 Taxable Income 1.1.3 Exempt Income 1.1.4 Deductible Expenses 1.2 Social Security
More informationForeign Direct Investment (FDI) and Special Economic Zones in Lao PDR. Phouphet KYOPHILAVONG
ESRI International Conference on The Potential of the Indochina Economic Zone Foreign Direct Investment (FDI) and Special Economic Zones in Lao PDR Phouphet KYOPHILAVONG Faculty of Economics and Business
More informationCorporate Structures in Vietnam For Foreign Investors
Corporate Structures in Vietnam For Foreign Investors Establishing a company in Vietnam, opening a Representative Office, or starting a business can be an intimidating or confusing exercise for foreign
More informationMorocco is unique in many ways. It is an African country closest to Europe in geographical and cultural terms. Buying Guide September 2011
Morocco is unique in many ways. It is an African country closest to Europe in geographical and cultural terms. Buying Guide September 2011 Overview Morocco is unique in many ways. It is an African country
More informationINVESTMENT OVERVIEW LAO PDR
Credit : Nasa, Visible Earth INVESTMENT OVERVIEW LAO PDR Investment Overview First Legal and Tax Consultancy DFDL was established in People s Democratic Republic of Lao ( Lao PDR ) in 1994, as the first
More informationAvoidance of double taxation agreement between Vietnam and Japan Concept of Permanent Establishment
Avoidance of double taxation agreement between Vietnam and Japan Concept of Permanent Establishment Lac Boi Tho Senior Manager Tax and Corporate services CONTENT General introduction on the avoidance of
More informationSPECIAL ECONOMIC ZONES (SEZ) An Indian Perspective
SPECIAL ECONOMIC ZONES (SEZ) An Indian Perspective Page 1 Contents Contents Page no. Overview of SEZ 3 Incentives of SEZ 4 Types of SEZ 6 Process of setting up an SEZ 8 Disclaimer: This document has been
More informationInterfood Shareholding Company and its subsidiaries. Consolidated financial statements Quarter
1 Consolidated financial statements Quarter 2-2015 2 Corporate information Investment Licence No. 270/GP 16/11/1991 Investment Certificate No. 472033000328 (1st amendment) 28/11/2007 472033000328 (2nd
More informationInvestment Environment in Laos LAND OF AMPLE OPPORTUNITIES AND SUCCESS
Investment Environment in Laos LAND OF AMPLE OPPORTUNITIES AND SUCCESS outline 1. Economy and Investment Overview 2. Investment Opportunities 3. Initiative on the Public Private Partnership (PPP) 4. Challenges
More informationMonthly Legal Briefing
Monthly Legal Briefing Edition 1 January 2014 Banking & Finance Corporate Dispute Resolution Intellectual Property Real Estate & Infrastructure Banking & Finance Decree No. 01/2014/ND-CP on the purchase
More informationRegulations on agricultural land use tax exemption and deduction. Amending and supplementing a number of provisions on special excise tax
No. 04.2017 TAX POLICIES Page 01 01 Regulations on agricultural land use tax exemption and deduction Regulations on the use, collection of land use levy and surface water rent in Economic zone, Hi-tech
More informationMarch 2018 Tax & Advisory Services Tax Update
March 2018 Tax & Advisory Services Tax Update March 2018 Tax update Page 1 March 2018 Tax Update highlights the following key points: Guidance on value added tax (VAT), corporate income tax (CIT), and
More informationLegal news June Contents. Vision & Associates A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS
A TTORNEYS. PATENT & TRADEMARK A GENTS. I NVESTMENT & MANAGEMENT C ONSULTANTS Legal news Contents Law on Enterprises...2 Other Sectors...6 Finance... 6 Banking... 6 Trading... 6 Land... 7 Culture Information...
More informationYOUR ACCESS TO EUROPE CYPRUS INVESTMENT PROGRAMME
YOUR ACCESS TO EUROPE CYPRUS INVESTMENT PROGRAMME August 2018 Cyprus Benefits of Cyprus Passport Imperio Properties x2 General Information Cyprus has a perfect geographical location situated at the crossroad
More informationESTABLISHING A LEGAL ENTITY UNDER MYANMAR LAW
ESTABLISHING A LEGAL ENTITY UNDER MYANMAR LAW May 2017 I. THE MYANMAR INVESTMENT COMMISSION PERMIT 1.1. Myanmar Investment Commission permit requirement An investor wishing to set up a business may implement
More informationPaper F6 (VNM) Taxation (Vietnam) Tuesday 3 December Fundamentals Level Skills Module. Time allowed
Fundamentals Level Skills Module Taxation (Vietnam) Tuesday 3 December 2013 Time allowed Reading and planning: Writing: 15 minutes 3 hours ALL FIVE questions are compulsory and MUST be attempted. Tax rates
More informationVisit
March 2014 edition contents Issue of valuable papers by credit institutions Further guidance on electronic gaming for foreign gamers 2 3 In brief: In this edition we cover a new circular on valuable papers
More informationTHE SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness No. 31/2015/QD-TTg Hanoi, August 4, 2015 DECISION
THE PRIME MINISTER ------- THE SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness --------------- No. 31/2015/QD-TTg Hanoi, August 4, 2015 DECISION ALLOWANCE OF BAGGAGE, MOVABLES, GIFTS,
More informationCLICK TO EDIT MASTER TITLE STYLE
CLICK TO EDIT MASTER TITLE STYLE The Revival of South East Asian Manufacturing What this means for Vietnam (and investors in Vietnam)? Jerome Buzenet Auscham Hanoi, 9 March 2017 Auscham Ho Chi Minh City,
More informationChina (Shanghai) Pilot Free Trade Zone
China (Shanghai) Pilot Free Trade Zone A New Era of Opening up and Reform in China www.pwccn.com What is the China (Shanghai) Pilot Free Trade Zone? On 29 September, 2013, the Chinese government formally
More informationAPPENDIX 2 TO ANNEX VIII ICELAND SCHEDULE OF SPECIFIC COMMITMENTS
APPENDIX 2 TO ANNEX VIII ICELAND SCHEDULE OF SPECIFIC COMMITMENTS I. HORIZONTAL COMMITMENTS ALL SECTORS INCLUDED IN THIS SCHEDULE 3) All foreign investment and currency transfers must be reported to the
More informationcompetition, including new FDI, in order to improve efficiency. Examples include such industries as steel and petrochemicals.
Page 25 III. TRADE-RELATED ASPECTS OF INVESTMENT POLICIES (1) Foreign Direct Investment: General Policy Direction 1 1. Thailand encourages foreign direct investment (FDI), a policy which is supervised
More informationScheme for Naturalization of Investors in Cyprus by exception
DECEMBER 2016 ISSUE 5 [STORY TITLE] [Story Subtitle or summary] Scheme for Naturalization of Investors in Cyprus by exception Invest in Cyprus Cyprus is the third largest island in the Mediterranean Sea,
More information