News

Customs impounds 100 NGV buses amid duty doubts

The Customs Department has impounded 100 natural gas vehicle air-conditioned buses which were supposed to hit Bangkok streets late this month amid doubts over whether the import order is legitimate or was falsely declared to avoid more than 100 million baht in tax. The first ...

Government to air concerns on Lao VAT

The government is set to raise the issue of Laos’s value-added tax in a joint discussion with Lao counterparts, fearing the new tax measure may cripple growing border trade. Adul Chotinisakorn, deputy director-general of the Foreign Trade Department, said that while the issue is an ...

Customs urged to move online

Customs authorities should work quickly to adopt an envisioned online registration system for cross-border cargo shipments that would expedite delivery and cut out pesky middlemen who tack on unofficial fees, Transport Minister Sun Chanthol said on December 5. “Online registration is important because right now ...

Gov’t aims for stable power tariff

The electricity sector in 2017 would strive to prevent the power tariff issue from stirring controversies among people, said Hoàng Quốc Vượng, deputy minister of Industry and Trade. Vượng said the sector has not seen complaints about power tariffs this year, as the prices have ...

Amended investment law offers tax incentives, shortens concession period

Amendments to the Investment Promotion Law offer more tax incentives and shorter investment concession periods in a bid to attract more investors while ensuring closer scrutiny of their operations. A draft amendment to the law, which was passed by the National Assembly last week, shortens ...

PM vows zero tolerance of financial misconduct

Prime Minister Thongloun Sisoulith told the National Assembly this week that the ongoing violations of financial regulations by various state departments must be addressed and those found guilty punished. The premier was responding to questions raised by members of parliament concerning possible solutions to the ...

Public debt near red line: NA deputies

The second session of the National Assembly on November 1 continued with debates on a five year financial plan, targets and orientation for the mobilisation and use of public investment loans as well as public debt management during 2016-2020. Finance Minister Đinh Tiến Dũng presented a ...

Tobacco turns over a new leaf

Agriculture officials and struggling smallholder tobacco farmers are cautiously hopeful that tariff exemptions granted under a new trade agreement with Vietnam will lift sagging demand for their crops. Khann Samban, director of industrial crops at the Ministry of Agriculture, said that the market for tobacco ...

Tobacco law loophole under review

The Excise Department may ask the government to allow the legal import of electronic cigarettes and baraku, which would be taxed like cigarettes, says director-general Somchai Poolsavasdi. He said the department has noticed a loophole in the current tobacco law, which does not define these products ...

Cambodia on alert for US taxpayers

With the Internal Revenue Service, the tax-collection arm of the United States government, stepping up its global sweep to catch American individuals and corporations hiding their overseas earnings, the American Chamber of Commerce in Cambodia on October 26 held a presentation for investors and financial institutions ...

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