The Hanoitimes – After several years of high credit growth, domestic credit of the private sector has risen to 130% of GDP from just 20% some 20 years ago. The State Bank of Vietnam (SBV) does not only control credit growth among commercial banks, but also starts to tighten credit growth of consumer finance companies, according […]
Read MoreSUPPORTING local tech firms as they strive for technological advancements is a vital part of Vietnam’s efforts to beat the middle-income trap and become a developed economy. To escape the middle-income trap, Vietnam must have a yearly growth rate of 6.5%-7% or individual income must grow 5.5%-6% each year, according to Nguyen Xuan Thanh from […]
Read MoreThe Hanoitimes – Vietnam posted the highest rate of cash on delivery for internet purchase at 90.17%, significantly higher than the second ranked Indonesia of 65.30%. The preference of cash usage in Vietnam is of the highest in ASEAN, according to Standard Chartered’s latest report. The report, titled “Cash digitization in ASEAN – What it means […]
Read MoreThe Hanoitimes – It`s unfair that foreign giants firms earning a huge amount of money from advertising without paying taxes. Vietnamese Minister of Information and Communications Nguyen Manh Hung has said that the ministry would soon force foreign firms like Facebook, Google, which earn big in Vietnam by providing advertising, to pay taxes, VnExpress reported. […]
Read More[WASHINGTON] The Trump administration will expand the number of countries it monitors for currency manipulation in an upcoming report expected this month, and Vietnam may be named a currency manipulator, Bloomberg reported on Thursday. Citing people familiar with the matter, Bloomberg said the number of countries on the watch list will rise to about 20 […]
Read MoreVietnam’s transfer pricing regulations under Decree No. 20/2017/ND-CP (“Decree 20”) became effective in May 2017 and outline all relevant aspects of the transfer pricing compliance process. Foreign investors should consider the following when creating a compliance strategy for transfer pricing in the country. What are the main transfer pricing compliances? According to regulations, taxpayers subject to Decree 20, if […]
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