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[Hurricane88]

In Vietnam, tax, red tape discourage small businesses from expanding

TUOI TRE NEWS
UPDATED : 04/11/2017 10:24 GMT + 7


A trader at Ben Thanh Market in District 1, Ho Chi Minh City
Tuoi Tre

Tens of thousands of enterprise-sized small businesses in Vietnam remain reluctant to upgrade their business status for fear of being caught up in red tape and subject to unfavorable tax conditions.

Most of these so-called ‘household businesses’ currently pay less than a few million VND per month in poll taxes, despite earning significant revenues. [VND1 million = US$44]

Ha, one trader at a wholesale market in Ho Chi Minh City, has recently filed for dissolution of her small enterprise after encountering multiple difficulties since changing from being a household business just a few years ago.

She said her enterprise had been subject to countless inspections since its establishment, and each time accounting errors had been found, resulting in her having to pay tens of millions of VND in tax arrears.

“It’s not that we are disregarding the law on purpose, but we simply can’t update quickly enough because of the constantly changing tax regulations,” Ha said. “Our business involves many different items, making it hard to validate all the correct papers.”

According to Ha, she now pays a fixed poll tax of just over VND5 million ($223) per month under the household business model, compared to the much higher cost of employing an accountant and facing the risk of tax arrears as an formal firm.

In addition to tax accounting, bureaucratic red tape is another factor discouraging many household businesses from becoming enterprises in Vietnam.

In order for any enterprise registration to be processed, household businesses must cease all business activity until the status change is complete, which can take up to several weeks and entail huge losses on most businesses.

All previous papers and qualifications issued by district-level administrations must also be re-issued by the municipal or provincial administration, and trading names might also have to change to avoid duplication.

There are currently around 275,000 registered household businesses in Ho Chi Minh City, comprising two percent of the city’s total tax revenue.

According to experts, this number is not in keeping with the total size of these household businesses however, yet to determine their exact revenue is almost impossible, given that there is no requirement to keep transaction invoices.

An estimated 14,000 of these household businesses currently qualify to become enterprises, with the People’s Committee of Ho Chi Minh City looking to transform between 20,000 and 25,000 by the end of 2017.

In reality however, only 120 have applied to become enterprises since June 2016, according to statistics from the municipal Department of Planning and Investment.

“There needs to be a certain amount of pressure from authorities, otherwise these household businesses won’t make the move of their own volition any time soon,” said tax expert Nguyen Thai Son.

Son added that some businesses are currently ‘lobbying’ with district officials to pay less tax, explaining their reluctance to become enterprises as it means having to pay more.

[Hurricane88]

Ho Chi Minh City publishes air, water quality readings on public notice boards

TUOI TRE NEWS
UPDATED : 04/10/2017 16:46 GMT + 7


Motorcyclists wear face masks as air pollution gets worse in Ho Chi Minh City.
Tuoi Tre

A network of 53 outdoor LED notice boards installed across Ho Chi Minh City will allow residents to monitor the city’s real-time air and water quality readings, starting on Monday.

The announcement was made by Le Minh Triet, director of the Saigon River Tunnel Management Center, who said the move was part of the city’s effort to improve citizens’ access to information regarding the quality of their living environment.

According to Triet, the notice boards will display readings on noise pollution, the level of nitrogen dioxide and carbon monoxide in the air, as well as the water quality of rivers and canals across the city.

The readings will be color-coded, with red numbers illustrating excessive levels of a pollutant, while green numbers will indicate no presence of any hazardous materials.

Results will be provided by the municipal Department of Natural Resources and Environment, and each notice board will show readings of air and water quality in the immediate vicinity.

Triet said the launch of the program is expected to have a positive impact on the awareness of locals about environmental issues, and encourage the community to actively protect the environment.

Ho Chi Minh City and Hanoi are among the world’s worst polluted cities, with pollution readings reported at alarming levels during 2016.

Odor and air pollution in the southern hub have worsened on a daily basis, resulting in a rising number of locals being hospitalized for respiratory illnesses arising from their regular exposure to contaminants.

[Boarding]

Originally Posted by snipeshot08

I like this guy's sense of humour especially the 2nd part about getting a wetnam wife

Cheerios......SS08 ^_^

I also like your sense of humour.

[Hurricane88]

Uber's ride hailing service is finally legal in Vietnam

By Anh Duy April 11, 2017 | 02:22 pm GMT+7

The ride-hailing firm has now secured approval from local authorities after two previous rejections.

The Vietnamese government has finally approved Uber's application to trial its ride hailing services, a minister said, after having rejected requests from the company twice since 2015.

Deputy Transport Minister Nguyen Hong Truong said on Monday that Uber Vietnam has fulfilled all necessary conditions to pilot its online ride-hailing application. However, the company will still need approval from local authorities before it starts operating, Truong added.

The main obstacle facing Uber's quest to legally offer its services in Vietnam was mainly its failure to register Uber Vietnam as a ride service provider since its arrival in June 2014 as the company expanded into Southeast Asia.

Previously, Uber Vietnam was only registered to offer “consulting and management” and “market research and public opinion polling”. Now, it's also registered to offer "information technology services and other computer related services."

The Transport Ministry previously said that Uber Vietnam's authorization given by its parent company - the Netherlands-based Uber International Holding BV - which provides the smartphone application for Uber services, was insufficient.

Market regulators said the parent company should be held responsible for the application rather than its Vietnamese business unit.

Local regulators outlawed Uber's smartphone app-based services in November 2015 after they flagged the company for tax avoidance.

In an attempt to regulate ride-sharing services, Vietnamese regulators have allowed companies to run pilot programs through IT applications under 3-year contracts. Vietnam's transport authorities earlier approved a pilot scheme for Grab Vietnam, Uber's main rival, that also entered Vietnam in 2014.

The Malaysia-based Grab was previously the only foreign-run transport service allowed to operate in five cities across Vietnam using registered private vehicles between 2016 and 2018.

[snipeshot08]

Originally Posted by Hurricane88

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Oh no

Go 1 big round the Mighty Transcended One reverts back to his favourite website again

Cheerios.......SS08 ^_^

[snipeshot08]

Originally Posted by Hurricane88

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Oh no your fav website again

Cheerios......SS08 ^_^

[snipeshot08]

Originally Posted by Hurricane88

haha...sori hor...no spell check here...

Okay mah nice hybrid word you should submit to Oxford Dicktionery for listing

Cheerios.....SS08 ^_^

[snipeshot08]

Originally Posted by Hurricane88

Praying mantis I knew...

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Cheerios......SS08 ^_^

[snipeshot08]

Originally Posted by Hurricane88

simi...I no apple fan and thingy...so bo chap...

I know mah, you only eat oranges, mango, liulian.....ETC

Cheerios......SS08 ^_^

[snipeshot08]

Originally Posted by Hurricane88

You long long time when mata wear shots already have wife mah...

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Cheerios.......SS08 ^_^

[snipeshot08]

Originally Posted by Samkieu

Noted and tks. So where you guys heading this long weekend.

Its a secret

Cheerios......SS08 ^_^

[Hurricane88]

Originally Posted by snipeshot08

Oh no

Go 1 big round the Mighty Transcended One reverts back to his favourite website again

Cheerios.......SS08 ^_^

I beg your pardon...never promise you a rose garden...")

[Hurricane88]

Originally Posted by snipeshot08

Oh no your fav website again

Cheerios......SS08 ^_^

Kakaka...

[Hurricane88]

Originally Posted by snipeshot08

Okay mah nice hybrid word you should submit to Oxford Dicktionery for listing

Cheerios.....SS08 ^_^

Cannot simply anyhoe...

[Hurricane88]

Originally Posted by snipeshot08

Of cos lah you are the Mighty Transcended Being, simi sai strokes you also will know........whether Praying Mantis, Crane, Tiger Claws, Dragon Punch......ETC

Cheerios......SS08 ^_^

Sometimes your imagination very goot...