Duc Hoang, journalist I have been living in Hanoi for more than a decade and have to admit that I have got used to the service (or the lack of it) provided by many famous restaurants here. It is a common experience in such places that customers are scolded by the staff or receive chilly greetings from the owners. I have been to such restaurants in the Old Quarter, one of the top tourist destinations in the capital city, more than a few times. I choose to ignore their irritating attitude and try to finish the food with patience. It is not something I am proud of. There was one instance when I wanted to break my rule of not creating a fuss. I saw a group of South Korean customers standing in front of a stall that serves pho. It looked as though they were trying to figure out whether the Vietnamese rice noodle soup was served with pork or chicken. At this pho place, there is no menu and no staff steps out to help customers. For decades, customers have had to keep in mind that they have … [Read more...] about We need immediate impacts to push long-term benefits
Short term vs long term capital gains tax
Foreigners earning incomes from providing services in Vietnam, what are their tax liabilities? Income earned by foreigners from rendering services in Vietnam is taxed in Vietnam regardless of their residence status. However, the tax implications are different depending on various factors that are specified in this article to help the foreigners to comply with the tax regulations in Vietnam as well as mitigate the risks of additional tax, penalties and interests on late tax payment. Regulation on residence status in Vietnam According to the current tax regulation, an individual is regarded as a Vietnamese tax resident if: Being present in Vietnam for a period of 183 days or more within one western calendar year or 12 consecutive months from the date of first arrival in Vietnam; or Having a registered place of “permanent residence” in Vietnam; or Having a rented house (including hotels, guesthouses, motels, offices) with a lease term of 183 days or more in a tax year. In … [Read more...] about Foreigners earning incomes from providing services in Vietnam, what are their tax liabilities?
Short-term home rental service grows sharplyThe Saigon Times Daily An inside view of a 20-square-meter room whose house is located on Pho Duc Chinh Street in District 1, HCMC for Airbnb’s short-term lodging services instead of leasing the entire estate – PHOTO: DAO LOAN HCMC – Short-term lodging services offered through online platforms, such as Airbnb, have grown strongly, but authorities have yet to take measures to control this efficiently, thereby delivering a blow to hotels. Citing unofficial data, Sai Gon Giai Phong newspaper reported that Hanoi and HCMC have some 16,000 rooms for rent through Airbnb. Meanwhile, the number of rooms in HCMC-based hotels with two- to four-star ratings is more than 16,900. Airbnb, which stands for Air Bed and Breakfast, is an online room booking service based on the sharing economy and tourism model. Some 80% of its clients are foreigners. The service fees for tenants typically range from 10% to 15%, while Airbnb charges … [Read more...] about Short-term home rental service grows sharply
Seafood exports difficult in short termBy Thuy Dung Tra ﬁsh ﬁllet processing at a factory in the Mekong Delta. In the short term, seafood exports are meeting with difficulties, especially in U.S. and EU markets - PHOTO: TRUNG CHANH HANOI - Though a bright outlook is forecast for seafood exports in the long term, export activities in the short term are meeting with difficulties, especially in U.S. and EU markets. According to the Ministry of Industry and Trade’s Export-Import Department, the turnover of seafood exports was some US$700 million last May, up 2.3% against the previous month and equivalent to that of May 2017. In January-May, seafood exports reached US$3.1 billion, a year-on-year rise of 11%. Though seafood exports have continuously increased, there are many risks in major markets. In the U.S. market, many firms have had to leave the market due to trade barriers. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), … [Read more...] about Seafood exports difficult in short term
Short-term social insurance required for foreign workersThuy Dung Foreign workers are seen at a construction site in Vietnam - PHOTO: TL HANOI – Foreign workers in Vietnam should buy short-term social insurance products like sickness, maternity, workplace accidents and occupational diseases in the immediate future, and will have to get long-term social insurance products, including pension and death insurance after 2020 or 2022, according to a draft Government decree. Under the 2014 social insurance law which came into force on January 1, social insurance is compulsory to foreign workers in Vietnam. However, such a regulation has yet to be applied as foreign business associations in Vietnam have objected to the rule and a guiding decree has not been issued. Many business associations and experts have previously proposed applying short-term or voluntary social insurance to foreign workers. Tran Hai Nam, deputy director of the Ministry of Labor, Invalids and Social … [Read more...] about Short-term social insurance required for foreign workers