LG Vina asks Hanoi to tax DOP imports Colombia

  • LG Vina asks Hanoi to tax DOP imports Colombia
  • LG Vina asks Hanoi to tax DOP imports Colombia
  • LG Vina asks Hanoi to tax DOP imports Colombia
  • How much did LG Innotek Vietnam Hai Phong make?
  • LG Innotek Vietnam Hai Phong made a revenue of KRW5,763.7 billion ($4.2 billion), up 32.6% year-on-year, with post-tax profit of KRW228.7 billion ($166.9 million), up 56.6%.
  • How much money does LG make in Vietnam?
  • The total post-tax profits of the two major Vietnamese subsidiaries of LG reached KRW379 billion ($276.6 million), up 17.6% year-on-year. LG Innotek factory in Hai Phong city, northern Vietnam. Photo courtesy of the company.
  • Why should businesses understand Vietnam's import-export regulations?
  • As Vietnam continues to solidify its position as a key player in global trade, understanding the nuances of its import-export regulations is crucial for businesses aiming to thrive in this dynamic market.
  • What if a foreign company fails to declare tax in Vietnam?
  • If the foreign company fails the conditions to directly declare and pay the tax in Vietnam, the Vietnamese company is responsible for withholding, declaring, and paying FCWT on behalf of the foreign company, specifically: (Official Letter No.1734/CT-TTHT dated 04 June 2021, issued by Long An Tax Department).
  • What will happen if Vietnam's 0% VAT proposal is accepted?
  • If the Vietnam Federation of Commerce and Industry’s proposed draft is accepted, some industries will lose the 0% tax incentive. For instance, industries tied to software and IT will no longer benefit from the 0% VAT incentive when entering into agreements with foreign companies.
  • Does LG have an R&D Center in Vietnam?
  • LG has continuously strengthened R&D capabilities in Vietnam for automotive parts since it established the Hanoi R&D Center under its Vietnam Production Corporation in 2016. With the success of the first center, the company created an additional R&D branch office in Da Nang in 2020.

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