Proposals to change seven tax laws will have a major impact on enterprises, Head of the Legislation and Policy Department under the Ministry of Finance (MoF), Mr. Pham Dinh Thi, told a conference organized by the Vietnam Chamber of Commerce and Industry on September 1 in Hanoi seeking the opinions of enterprises. Among the changes, those to the Corporate Income Tax law attracted a great deal of comment from enterprises, with nine changes being suggested. Permitting the transfer of profits from selling real estate into manufacturing and commercial activities was suggested by a representative from the Vietnam Banks Association (VBA). The representative pointed out that, according to Corporate Income Tax Law No. 32/2013/QH12, in effect since 2014, enterprises can only transfer losses from selling real estate into other commercial activities but are not permitted to transfer profit from such sales into other commercial activities. The issue means that enterprises have to pay tax on … [Read more...] about Changes to seven tax laws proposed
S corporation tax return
HCM CITY — Shareholders of the HCM City Stock Exchange listed Eximbank Vietnam have approved a 44 per cent year-on-year increase in this year's pre-tax profit target to VND2.2 trillion (US$115 million). They also agreed at yesterday's annual general meeting to increase the bank's total asset value to VND88 trillion, a year-on-year growth of 33 per cent. Capital mobilisation is expected to rise to VND67 trillion and outstanding loans to VND58 trillion, up 43 per cent and 58 per cent respectively. ROE (return on equity) will be 11.65 per cent and shareholders will receive dividends of 12.6 per cent, apart from bonus shares resulting from accumulated profit. The bank also plans to increase its charter capital to VND10.56 trillion from the current VND8.8 trillion. Eximbank said it will develop to become a multifunctional financial and banking corporation by 2015 with services including retail banking, import export funding and services to corporate customers as its core business. … [Read more...] about Eximbank targets 44% rise in pre-tax profit
BANGKOK, July 10, 2011 (AFP) - Riding a wave of support among rural voters, Thailand's incoming premier plans a raft of populist measures to narrow the rich-poor divide, at the risk of higher inflation and public debt. A rise in the minimum wage, increased rice prices for farmers and free tablet computers for primary school students are some of the promises that helped propel former premier Thaksin Shinawatra's Puea Thai Party to victory. The one-time billionaire telecoms tycoon, who was ousted by the military in 2006 after five years in power, is adored by Thailand's rural poor for his populist policies such as cheap healthcare and microcredit schemes. Now his sister Yingluck is set to follow in his footsteps as Thailand's first female premier, marking a return to her brother's expansionary policies targeting the rural poor that came to be known as "Thaksinomics". "The concept of the policies is good because it focuses on how to resolve the vicious circle of poverty," said Thanawat … [Read more...] about Thailand set for return to ‘Thaksinomics’
SYDNEY (AFP) - Australia unveiled a flood tax on higher earners Thursday as Prime Minister Julia Gillard warned the deluge would shave 0.5 points off GDP in fiscal 2010 and cost Aus$5.6 billion for recovery. Gillard said the record inundation, which crippled the mining and farming state of Queensland this month, "may prove to be the most expensive natural disaster our nation has ever seen", with coal mines to suffer for months to come and farmers facing "seasons" of difficulty. "Treasury's preliminary estimates are that GDP growth in this financial year will be about half a percentage point less due to the floods," Gillard told the National Press Club, providing the government's first official estimates of the disaster's economic impact. "The best preliminary estimate of the direct cost to the federal budget of the summer's flood disaster is Aus$5.6 billion ($5.6 billion)," she added. The crisis continued in sodden southeastern Victoria state, with mucky torrents threatening to … [Read more...] about Australians face flood recovery tax
From late 2006 to early 2007, stock investors in Vietnam reaped hyper-profit margins as share prices of listed and unlisted companies sky-rocketed. So, will this period of hyper-profit return? Analyst Pham Kinh Luan finds out. Since early 2007, listed and unlisted companies have en masse carried out additional share issuances for paying dividends, mobilising additional capital or converting equity into shares. This trend is expected to continue throughout the rest of this year and has been resulting in a greater quantity of shares and higher market availability. The IPOs of 60 state-owned enterprises from June 2007 to March 2008, including big commercial banks, financial institutions and an insurance company, with an estimated capital of VND50 trillion ($3.1 billion), will provide investors with many new stocks and a great quantity of shares.Stock prices are set according to investors' assessments and funding levels. To follow are factors which might impact on stock prices in the … [Read more...] about Will the market’s golden time return?