PROPOSED TO REDUCE CORPORATE INCOME TAX TO 15 – 17%

The Ministry of Finance is drafting a report submitting to the Government on the implementation of Resolution 35/2016 of the Government on a number of solutions to remove difficulties and tax obstacles for small and medium enterprises.

Accordingly, the Ministry is expected to submit two plans to prepare for comments of the Parliament at the 2ndSession (October 2016). In which, there are two options. Option 1 is applying the general tax rate of 17% from January 1st 2016 until the end of 2020 for small and medium enterprises. Option 2 is applying the general tax rate of 15% from January 1st 2016 to 2020. The general tax rate which is currently applied is 20%.

In addition, the Ministry of Finance also proposed the plan to reduce the corporate income tax for newly established start-up businesses with investment projects in the fields of preference or in underdeveloped areas, rural areas: applying tax rate of 10% in 15 years; tax exemption for 4 years and reduce 50% of the tax payable in the next 9 years for new projects.

Concerning the handling of the tax debt, deferred payment and fines, the Ministry of Finance proposed debt relief but must ensure equality among economic sectors, non-discrimination; remove the deferred payment for cases caused by force majeure that does not have the money to pay tax; remove tax debt, deferred payment and fines for companies that were dissolved, bankruptcy, business individuals are dead or missing.

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CHANGE OF CHILD RAISING PERSON AFTER DIVORCE

When divorce, children raising issue is very important and is always considered by the parties. Typically, parents always want the best for their children. However, there are also cases that the person who is raising that child unable to provide comprehensive benefits for the child. Then the person who is not directly raise the child may request for caregiver to ensure human rights.

ANT Lawyers would advise to customers some of the content in the issue of stipulating caregiver and change of caregiver after divorce.

• The nursing, take care, educating and parenting after divorce

After divorce, parents are still obliged to look after, take care, educating, parenting minors or adults who are disabled, lost their civil act capacity, inability to work and have no property to support themselves.

The person who is not directly raises children have to provide rearing support.

Husband and wife agree on the person who directly raise the children, the rights and obligations of each party after divorce to their children; if no agreement is reached, the Court decided to assign one party to directly raise children based on the interests of that children in all aspects; if the children is nine years old or older, the wishes of the children must be considered.

In principle, children under three years of age are directly raised by the mother, unless the parties agree otherwise.

• Change the person who directly raises children after divorce

For the benefit of the children, at the request of one or both parties, the Court may decide to change the child directly raising people.

The change of child directly raising people after divorce is conducted in case the people who directly raise the child does not guarantee the rights of the child in all aspects. Moreover, if the child is nine years old or older, we have to take into consideration the aspirations of the child.

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WHY INVESTORS SHOULD SET-UP BUSINESS IN PHU QUOC

The improvement in infrastructure system along with the preferential policies have stimulated investors to come to Phu Quoc to set-up company and do business.

Phu Quoc, an island in Kien Giang of Vietnam is in the top of three islands having tourism potential in Southeast Asia comparable to Phuket in Thailand and Bali in Indonesia.  Phu Quoc has become a magnet for attracting huge investment flows from foreign investors in the area of real estate, entertainment, casinos, restaurant or food and beverage service business.

Phu Quoc has temperate weather throughout the year. There are also fresh and friendly forest – sea ecology and the modern transport system on the island with international airport and international hospital. Moreover, many infrastructure projects and international schools are under construction, which are necessary and favorable conditions to invite and attract investors to the Pearl Island for doing business.

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What you Need to Know Before Setting up Company in Vietnam?

How to Set-up Company in Vietnam?

What are Forms of Investment in Vietnam?

Capital inflows to Phu Quoc have really exploded after the “knots” in investment were removed. The new airport went into operation that can welcome larger aircraft and serve more flights, in which there are more international direct flights from China, Singapore, Russia and Cambodia. The 51km long radial route on the island has been basically completed; the road around the island and the branch roads are also being deployed. The power grid was pulled from the mainland to the island, replacing the very high cost gasoline power in the past.

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What are Taxes in Vietnam?

Compliance Reports in Vietnam

The real estate and tourism consultants all agree that Phu Quoc fully convergent elements of an attractive beach for tourist with year-round sunshine, many beautiful beaches such as Long Beach, Truong Beach, Khem Beach and immense virgin forest. Moreover, Phu Quoc has a strategic location with just 1-2 hours flight to the key tourism markets in Southeast Asia.

Both investment and tourism in Phu Quoc have entered the acceleration phase. By the end of July 2015, Phu Quoc has attracted nearly 200 investment projects, including 136 projects that are being implemented in the area of over 5,100 ha with total registered capitals of 6.5 billion USD. Just one part of those projects become reality then it will make Phu Quoc to become a leading tourist destination in Vietnam, ahead of Da Nang and Nha Trang, competing with the top destinations in the area as Phuket and Bali.

Some of the largest Vietnam corporations such as Vingroup, Sun Group, CEO Group, BIM Group are implementing the huge projects that could alter the appearance of the island. In which the giant in real estate sector – Vingroup has invested projects as: Vinpearl Resort on an area of 300 ha in Long Beach, the combining of golf course and safari zoo on an area of more than 2,000 ha, and the 80 ha commercial complex.

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How to Protect Trademark in Vietnam?

How to Handle Disputes in Vietnam?

The improvement in infrastructure system along with the preferential business and legal environments i.e. favourable land rental rates, corporate income tax, exemption of visa for foreign tourists make Phu Quoc island of Kien Giang, Vietnam a new attractive place for investment.

ANT Lawyers, a law firm in Vietnam could offer service to set-up company in Phu Quoc through its affiliate office.  We assist clients needing legal service in obtaining investment certificate, business registration, or other  licensing procedures in Phu Quoc, Kien Giang Province, Vietnam.

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WHAT ADMIRALTY AND MARITIME LEGAL MATTERS IN VIETNAM INVOLVE?

Admiralty and maritime lawyers in Vietnam may represent and defend the interests of commercial ship owners and charters involving the total spectrum of maritime casualties, accidents and disputes which may arise in reference to commercial ocean shipping.

Additionally admiralty and maritime lawyers in Vietnam are frequently appointed by a broad vary of domestic and international marine insurance corporations directly or through our international partner law firms in UK, US and Australia to represent and defend the interests of their insureds in reference to casualties involving each commercial and recreational vessels.

When legal proceeding arises from a maritime casualty or dispute admiralty and maritime lawyers in Vietnam commit the total range of the firm’s resources and therefore the intensive litigation expertise of our attorneys to attain the most effective potential outcome for the client. The attorneys additionally counsel ship owners, charters, marine insurers and clients on risk avoidance, regulative necessities and strategic legal solutions.

An overview of the a number of the kinds of maritime claims, casualties and transactions that admiralty and maritime lawyers regularly handle is as following:

• Casualty Defense, Investigation and Litigation
  • Collisions
  • Cargo damage
  • Personal injury and death (seamen, longshoremen and passengers)
  • Property damage
  • Product liability
  • Shipowner’s limitation of liability
• Marine Liability Insurance
• Commercial Disputes
  • Bills of Lading
  • Charter party disputes
  • Vessel mortgage foreclosure
• General Average and Salvage Claims
• Vessel Regulatory Matters
  • Regulatory compliance
  • Civil fines and penalties
  • Security issues
• Maritime Contracts
  • Contracts of affreightment, bills of lading and charter parties
  • Drafting and advice
• Recreational Boating
  • Injuries and Property Damage
  • Product Liability
  • Sales and documentation
  • Subrogation

ANT Lawyers has law been partnering with a number of UK, US, and Australian law firms in advising clients in admiralty and maritime in Vietnam.

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