Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 6/5/2014

Vietnam - Tax, customs relief for companies affected by demonstrations 

June 5: Guidance providing relief to companies affected by May 2014 demonstrations in Vietnam was issued by the Ministry of Finance.

As reported by various news sources, demonstrations in several Vietnamese provinces were triggered by the positioning of a Chinese oil rig in disputed waters of the South China Sea. Some foreign-owned factories and businesses were damaged or destroyed.


Notice No. 207 (20 May 2014) and Official Letter No. 3758 (26 May 2014) provide notice and instructions to various ministries, agencies, and People’s Committee of provincial cities and municipalities to implement measures offered by Vietnam to compensate and support companies that were affected by the recent demonstrations.


Read a June 2014 report [PDF 477 KB] prepared by the KPMG member firm in Vietnam: Vietnam introduces measures to compensate and help affected companies to get back on trace




©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now