In addition to the local authorised partners, the two tech titans also have dozens of thousands of advertisers who are mainly small- and medium-sized enterprises and individual online vendors. However, only authorised partners have been paying foreign contractor withholding tax for Facebook and Google at the rate of 5 per cent. According to a VIR source, there are dozens of authorised partners of Facebook and Google in Vietnam. … [Read more...] about Bank accounts of local advertisers to be drained for Facebook and Google tax arrears
Levy on bank account child support
A worker operates a yarn processing line at Best Pacific Vietnam Co. Ltd at the Vietnam-Singapore Industrial Park (VSIP) in the northern province of Hai Duong. (Source: VNA) Vietnam has now integrated more deeply into the global economy thanks to the strong development of its manufacturing sector, said economist Chidu Narayanan at Standard Chartered Bank. The country has one of the most open economies in Asia, with a trade-to-GDP ratio surging to 300 percent, so it heavily depends on global demand, he explained. … [Read more...] about Standard Chartered Bank: Vietnam’s 2020 economic growth to fall to 3.3 pct.
The central bank’s statistics showed loan payment deadlines were restructured for nearly 260,000 customers with outstanding loans worth nearly VND18 trillion (US$775.8 million). Interest rate cuts and exemptions were offered to more than 421,000 customers to the tune of VND1.3 quadrillion. Banks also provide new loans worth VND1.1 quadrillion to 240,000 customers at rates 0.5-2.5 percentage points lower than pre-pandemic. … [Read more...] about Stronger money policies might be considered to aid economic growth
Nguyen Quang Thanh is being treated at Vietnam-Germany Hospital in Hanoi. The 33-year-old man's health has deteriorated so quickly that it's a huge effort to walk around and talk normally. Thanh did odd jobs to support his family. His wife, Nguyen Thi Nhu, stayed at home to take care of six children. However, in 2016, Thanh suddenly had a heart attack. "I had coughs for several weeks and felt very tired when I had to use the stairs. I usually had to sit down after walking for 40-50 metres," Thanh said. His health turned for the worse a while later and he was brought to Thanh Hoa General Hospital. Doctors said he had dilated cardiomyopathy which led to heart failure. Since then, Thanh can't do hard work and his wife has to shoulder everything. Most of the money has been used to treat Thanh. … [Read more...] about Heart disease patient calls for help for a chance to survive
Sacombank’s NPL rate was 1.86 per cent in 2015, but then rose to 5.35 per cent in the end of 2016, making Sacombank one of the banks with the highest NPL rate in the whole banking system. The main reason for this upsurge in NPL was Southern Bank’s formidable NPL rate (55.31 per cent as of November 2013). In its detailed proposal after the merger, Sacombank expected to set $79.2 million aside for risk provision in 2015, $136.8 million in 2016, and $228.8 million in 2017. … [Read more...] about M&A: the happy unions, the constant fights and the arranged marriages