Troi Oi September ’18

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174 aircrafts registered to Vietnam as of the end of July 2018, up 14 compared with the figure of the same period last year, according to the Civil Aviation Administration of Vietnam (CAAV). The largest fleet belongs to Vietnam Airlines with 91 planes, including 11 Boeing 787-9; 12 Airbus A350; five A330 and 57 A321 aircraft. It is followed by Vietjet Air with 54 planes, including 31 A321 and 23 A320 aircrafts. Jetstar Pacific ranks third with 17 A320 aircrafts. Other airline firms such as the Vietnam Air Services Company (Vasco), Vietstar Airlines Multirole Corporation, among others, also have Vietnamese registered-planes. CAAV said, as of the end of July 2018, there were 28 helicopters registered, unchanged compared to the same period last year. Under the Decree, to be eligible for the registration of Vietnamese nationality, the aircraft must not bear the nationality of any other country or have had the nationality of a foreign country deregistered. It must also have all the valid paperwork to prove aircraft ownership or the right to possession of the aircraft under lease or lease-purchase terms.

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VND4.1BILLION in TAX arrears and fines has been collected from a local man that earned VND41billion from Facebook and Google ads. The man is a programmer whose game has been viewed and downloaded on Facebook, Google and YouTube. He earned over VND41bn (USD1.6m) from ads in 2016 and 2017 but didn’t make any declarations or pay taxes. The tax arrears were detected when the Department of Taxation ordered banks to check on incomes from Google, Facebook and YouTube that haven’t deduced taxes. The authorities will zero in on Facebook accounts that are the most active and have large incomes. Those who earn less than VND100 million a year online must pay a business license tax. Those with over VND100 million of annual income must pay additional VAT and personal income tax. According to the Department of Taxation, Facebook, Google and YouTube incomes at four banks are in the range of VND500 billion. Last year, the Taxation Department collected VND9.1billion in tax arrears from a Facebook account that sells cosmetics online.

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~USD5 BILLION foreign direct investment (FDI) was poured into the southern economic hub in the first seven months of 2018, a year-on-year rise of 70.5 percent. According to the municipal Department of Planning and Investment, the city granted new investment licenses to 553 projects worth USD508.25 million in the period under review. It also allowed 148 existing projects to increase capital by USD453.38 million, a respective year-on-year increase of 27.6 percent and 13.3 percent. Local authorities also approved 1,628 foreign investors to carry out procedures to contribute capital, purchase shares, and buy back capital of USD3.73 billion contributed by domestic enterprises.

The Republic of Korea made up the lion’s share of foreign investment in HCMC with 30 percent, followed by Singapore (22 percent), Norway (13.8 percent), and Japan (10.4 percent). Investment was mainly poured into real estate (47.6 percent), science and technology (19.5 percent), wholesale and retail and repair of automobiles, motorcycles and other vehicles (8.1 percent), processing and manufacturing industry (7.7 percent), accommodation and catering services (4.2 percent).

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