Auto sales surge, but down on December

January auto sales surged 76 percent over the same period last year to 6,961 units, the Vietnam Automobile announced in its monthly report.

Sales of commercial vehicle reported the highest surge of 150 percent with 3,340 units sold. Passenger cars followed with 2,170 units, up 79 percent and MPV/SUV vehicles reached 1,440 units, a 3 percent increase.

Guidelines on consumption tax for alcohol products

The General Department of Taxation has just dispatched new guidelines to tax departments in cities and provinces on the new special consumption tax for alcohol and beer products.

From January 1, 2010, a special consumption tax rate of 45 percent has been imposed on spirits, wines and beer. This rate will be increased to 50 percent on January 1, 2013.

Border economic zone set up in Ha Giang province

The People’s Committee of the northern mountainous province of Ha Giang held a ceremony on Jan. 12 to announce the government’s decision on the establishment of a national border gate economic zone (EZ).

Auto tax incentives won’t be extended

The Ministry of Finance has turned down a proposal by the Vietnam Automobile Manufacturers Association (VAMA) to extend the expiration date of tax incentives on automobiles until the end of next year, a ministry official has said.

Sales of goods and services soar

Total turnover for goods and services in the first nine months of the year surged by 18.6 percent year-on-year to 845.4 trillion VND (47.2 billion USD) thanks to a series of Government stimulus measures and promotional programmes, according to the General Statistics Office (GSO).

The GSO said that business turnover reached 662.5 trillion VND (37 billion USD), up 19 percent over the same period last year.
Doing Business: Vietnam cuts taxes, facilitates int’l trade Business

Doing Business: Vietnam cuts taxes, facilitates int’l trade

Vietnam cut business taxes in 2008-2009, joining many other economies in East Asia and the Pacific in strengthening business regulations to help increase opportunities for local firms, according to a report.

Vietnam cut the corporate income tax rate from 28 percent to 25 percent and eliminated the surtax on income from the transfer of land, according to Doing Business 2010, the seventh in a series of annual reports by the World Bank (WB) and the International Financial Corporation (IFC).
Border trade zone draws thousands Business

Border trade zone draws thousands

The official opening of the Tinh Bien Commercial Zone in An Giang Province on August 22 coincides with a festival to promote high quality Vietnamese goods in the Tinh Bien area that borders Cambodia.

Seventh mobile network to debut soon

The Gtel Mobile Joint Stock Company (Gtel Mobile) announced that its network, Beeline, will become operational on July 20 with the prefix number of 0199.

Car sales rev back up

The Vietnamese Automobile Manufacturers’ Association (VAMA) has reported increases in car sales in May and June, seeing this as an optimistic sign for market prospects through the year’s end, after suffering a sharp drop in April due to the Government’s imposition of a higher special consumption tax.