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Posts Tagged ‘effect’

Floor price for Tra fish comes into effect

In Uncategorized on December 17, 2010 at 2:26 pm

Floor price for Tra fish comes into effect

QĐND – Friday, December 17, 2010, 20:56 (GMT+7)

The floor prices for exports of Tra fish will be enforced by the first quarter of next year, said Duong Ngoc Minh, Deputy Head of the Vietnam Association of Seafood Exporters and Producers (VASEP).

This is the result of a meeting between 20 largest Tra fish exporters of VASEP at the end of last week.

Floor prices are now US$3/kg for white meat Tra fish and US$2.05/kg for the red meat. The prices for Tra fish bought from farmers must be more than US$1/kg.

These prices will not be applied in the US market due to the difference in payment methods relating to anti-dumping taxes.

Minh also said that the demand for Tra fish in the EU market is still rising despite being listed on the World Wildlife Fund (WWF) red list. EU customers want more Tra fish for fear of short in supply from Vietnam in the future.

Source: VOV

Source: QDND

Securities taxes to take effect January 1

In Vietnam Stock Market on December 16, 2009 at 10:41 am

Provisions of the new Law on Personal Income Tax applicable to taxation of dividend income and capital gains on securities trading will take effect on January 1, said Vu Van Truong, director of the Ministry of Finance’s tax policy department.

The new taxes were suspended for all of 2009 as part of the Government’s stimulus package and to help sustain the stock market during the downturn.

Pursuant to the law, investors will have two options for paying the capital gains tax; either a flat 0.1 percent levy on the value of each securities transaction or a 20 percent tax on net capital gains during the tax year.

However, individuals opting to apply the 20 percent rate would still be temporarily charged the 0.1 percent levy on each securities transfer, Truong said.

“Most investors will opt for the 0.1 percent option due to the simple and transparent procedures for paying the tax with each transaction, as well as to avoid tedious and complicated formalities of tax computation and filing returns at the end of the year,” opined An Phat Securities Co general director Tran Thien Ha.

Tan Viet Securities Co deputy director Hoang Xuan Quyen predicted the tax would have little impact on the market as securities companies and investors have been aware it was coming since the end of last year.

Tax on securities trades will be collected by securities companies. Unlisted companies will be responsible for collecting the tax on behalf of their shareholders.

Source: SGGP Bookmark & Share

Japan-ASEAN FTA takes effect, starting with 4 countries

In Uncategorized on December 1, 2008 at 2:43 pm

Tokyo (VNA) – A comprehensive free trade agreement between Japan and the Association of Southeast Asian Nations entered into force on December 1, according to Kyodo news.

The FTA begins with Laos, Myanmar, Singapore and Vietnam, which have already completed domestic ratification procedures, the news agency quoted Japanese officials as saying.

The Japanese government is hoping the ASEAN-Japan Comprehensive Economic Partnership Agreement, signed in April, will help Japanese firms seize larger business opportunities in the fast-growing region overall.

”We hope it will become the foundation for deepening economic integration in East Asia,” said Nobuo Katsumata, chairman of the Japan Foreign Trade Council.

In October, Japan notified the 10-member ASEAN of the completion of its ratification of the economic partnership agreement, which is also aimed at facilitating investment and trade in services, in addition to trade in goods.

ASEAN comprises of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The trade agreement is scheduled to come into force similarly with six other members of ASEAN after they finish domestic procedures.-

Cambodia-Japan trade agreement comes into effect

In Uncategorized on August 1, 2008 at 3:16 pm

– An investment agreement between Cambodia and Japan which will offer Japanese investors preferential treatment and ease their entry into Cambodia has come into force.

The agreement symbolises the first step of strengthening economic relations between Japan and Cambodia, and contributes to Cambodia ’s economic development strategy by inviting foreign direct investment, according to news reports.

Japan, which is the world’s second largest economy, has been the top aid donor to Cambodia since early 1990s, but has lagged far behind other Asian nations in terms of investment.

The countries began negotiations on the agreement in September 2006. The agreement was signed when Cambodian Prime Minister Hun Sen visited Tokyo in June 2007.-