HANOI : Samsung and other foreign companies are pushing Vietnam to introduce a multi-million-dollar reform that would compensate them for higher levies they face from next year under a global overhaul of tax rules, a source involved in the talks said.
The global rule requires companies paying less in a low-tax jurisdiction to face a top-up levy in their home country. "If this is not fully resolved, Vietnam's competitiveness will fade," said Hong Sun, chairman of Korea Chamber of Business in Vietnam, noting that South Korean investors were particularly sensitive to those changes.
Samsung's tax rate varies by district, and ranged between 5.1 per cent and 6.2 per cent in 2019 in the two northern provinces where it produces smartphones, according to government data cited by local media.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vietnam travel guide: 16 best things to do in Nha TrangHeading to Vietnam but want to check out somewhere outside Ho Chi Minh, Hanoi or Sapa? Read our travel guide on Nha Trang!
Source: YahooSG - 🏆 3. / 71 Read more »
Vietnam Jan-May exports and industrial output down amid weak demandHANOI : Vietnam's exports in the first five months of this year fell 11.6 per cent from a year earlier to $136.17 billion, government data showed on Monday, as weakened external demand weighs on its manufacturing-led economy. Its industrial output in the January-May period fell 2 per cent from a year earl
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Best places to go on holiday in October, from Vietnam to New HampshireWith autumn colours abound it’s time to start planning your next trip
Source: YahooSG - 🏆 3. / 71 Read more »
This travel rewards programme gives you a chance to meet Mercedes F1 drivers George Russell and Lewis HamiltonThe Marriott Bonvoy programme offers ultra exclusive experiences for its members.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Indian official suspended after he drains reservoir to retrieve phone he dropped while taking selfieNEW DELHI: A government official in India has been suspended from his job after he ordered a water reservoir to be drained so he could retrieve his smartphone, which he had dropped while taking a selfie. Food inspector Rajesh Vishwas dropped his Samsung smartphone in Kherkatta dam in the central Indian sta
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Subscriber Picks: My husband quit his job because of PSLE | Can you develop allergies as an adult?Subscriber picks is a weekly curation of the best from The Straits Times - where we bring you exclusive reports, in-depth analyses, and the latest happenings in Singapore and beyond. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »