Income tax will be exempted for non-refundable ODA projects

Foreign contractors joining in implementing non-refundable ODA projects in Viet Nam will be exempted from corporate income tax on their revenue from supplying commodities and services for these projects, according to a document released last week by the Ministry of Finance.

Govt reinstates steel import tariffs

The Government has decided to raise import tariffs on steel products by up to 20 per cent, according to Nguyen Kinh Quoc, spokesman for the Prime Minister.

Foreigners permitted to own 30% stake in Vietnam firms

Foreign organisations and individuals, even those not residing in Vietnam, can now own up to a 30% stake in Vietnamese companies, thanks to a decree signed recently by Prime Minister Phan Van Khai regarding the implementation of the Enterprise Law.