Vietlott jackpots continuously explode; no promotions for depositors

Banks are not allowed to offer promotions to depositors.

Circular 48 of 2024, issued by the Governor of the State Bank of Vietnam (SBV), regulates the application of interest rates on Vietnamese Dong deposits of organizations and individuals at credit institutions and branches of foreign banks (collectively referred to as credit institutions), effective from November 20th.

According to Circular 48, credit institutions, when receiving deposits, are not allowed to offer promotions in any form (cash, interest rates, or other forms) that are not in accordance with the law. (See details)

Another Vietlott jackpot winner has been found.

The Vietnam Computerized Lottery Company (Vietlott) announced that in the 1115th draw of the Power 6/55 lottery held on the evening of November 19th, Vietlott determined the Jackpot 1 prize value to be 54,820,284,600 VND (over 54.8 billion VND). However, no player was lucky enough to win this jackpot. Nevertheless, Vietlott's system found one winning ticket for Jackpot 2 worth over 5.3 billion VND.

Recently, Vietlott has also consistently found winning tickets for the Jackpot 2 prize in the Power 6/55 lottery. (See details)

Automatic personal income tax refund from the beginning of 2025

It is expected that, starting in early 2025, the tax authorities will upgrade the application supporting individuals in filing electronic tax returns, thereby automatically assisting taxpayers with the entire process of tax settlement and personal income tax refunds.

This application will assist in generating suggested tax returns for individuals based on a comprehensive tax system database compiled from income-paying organizations, instead of taxpayers having to manually compile the information for declaration. Subsequently, the tax authorities will upgrade the application to automatically support the entire process of tax settlement and personal income tax refunds for taxpayers. (See details)

Gold price skyrockets, Bitcoin hits $100,000 for first time in history

Gold prices continued to soar and return to an upward trend, while the price of Bitcoin also approached the $100,000 threshold for the first time in history due to the moves of US President-elect Donald Trump.

Bitcoin surged due to expectations that it could be considered a safe haven, similar to gold. Gold prices also rose sharply amid global instability and increasing uncertainty. The USD, gold, and Bitcoin are seen as safe havens as tensions and inflation escalate worldwide. (See details)

Gold and Bitcoin prices both increased sharply in 2024. Photo: NIE

The Ministry of Finance has resolved the issue of "thin capitalization" regulations, which need to be implemented this year.

The Ministry of Finance has submitted a draft decree amending and supplementing several articles of Decree No. 132/2020/ND-CP on tax management for enterprises with related-party transactions to the Ministry of Justice for appraisal. Decree 132 (formerly Decree 20) was introduced to prevent transfer pricing and "thin capitalization" in the business operations of enterprises.

In this draft, the Ministry of Finance has amended and supplemented several very important regulations, resolving many difficulties. This regulation, applicable from the corporate income tax assessment period of 2024, will help businesses alleviate some of the difficulties caused by the prolonged revision of the Decree from 2023 to the present. (See details)

Eximbank responds to allegations of being "under investigation by the State Bank of Vietnam".

Recently, Vietnam Export Import Commercial Bank (Eximbank) has been receiving numerous questions from shareholders, partners, customers, and the press regarding an article about the State Bank of Vietnam's inspection of the bank's operations.

Eximbank affirms that it has not received any decision from the State Bank of Vietnam (SBV) regarding an inspection of its lending activities recently, and the bank "always strictly complies with all legal regulations and SBV regulations. The bank continues to operate stably, safely, and efficiently, meeting the diverse financial needs of its customers and partners." (See details)

LPBank shareholders approve proposal to move headquarters and invest in FPT

The extraordinary General Meeting of Shareholders of Loc Phat Vietnam Commercial Bank (LPBank), held on November 16th in Ninh Binh, approved the Board of Directors' proposal regarding the profit distribution plan for 2023, the increase in charter capital for 2024, the capital contribution to purchase FPT shares, and the change of the head office location. However, LPBank has not yet announced specific information about the location or the time of the move to the new headquarters.

LPBank will relocate its head office, acquire up to 5% of FPT shares, and increase its charter capital to nearly VND 30,000 billion through the distribution of 2023 dividends in shares. (See details)

Submit to the National Assembly a plan to increase taxes on alcohol, beer, and cigarettes

The government proposes maintaining the current 75% tax rate on cigarettes for the time being, but adding an absolute tax (100%) according to a roadmap. For alcohol and beer, the proposed tax rate is a percentage, increasing annually according to a roadmap. (See details)

On the morning of November 22, the National Assembly discussed in groups the draft Law on Special Consumption Tax (amended). Many National Assembly deputies expressed their opinions on the issue of increasing tax on alcohol and beer.

Delegate Tran Hoang Ngan (HCMC) proposed a roadmap for increasing tax on beer, avoiding "shocks" to ensure budget revenue, not greatly affecting workers, and giving businesses time to restructure their operations. (See details)

'Female General' Nguyen Thi Mai Thanh leaves the chairperson position to take on a new assignment

Refrigeration Electrical Engineering Corporation (REE) has just announced that Ms. Nguyen Thi Mai Thanh will no longer hold the position of Chairwoman of the Board of Directors from November 22. Replacing Ms. Thanh in this position is Mr. Alain Xavier Cany, Vice Chairwoman of the Board of Directors.

Ms. Nguyen Thi Mai Thanh has been appointed as General Director, replacing Mr. Nguyen Minh Quang. Having steered REE from its early days to its current status as a renowned corporation, Ms. Thanh is widely known. (See details)

The reason why the wife of the late DIG chairman Nguyen Thien Tuan has not received all the inherited shares

According to information from the Development Investment Construction Corporation (DIC Corp, ticker symbol DIG), Ms. Le Thi Ha Thanh, mother of Mr. Nguyen Hung Cuong, Chairman of the Board of Directors, registered to receive the transfer of 16.969 million shares from October 24th to November 22nd. This is the acquisition of assets from the couple's joint assets after the death of her husband – the late Chairman of DIG, Nguyen Thien Tuan.

However, Ms. Thanh has only received 12.219 million shares out of a total of 16.969 million units registered. The reason for not completing the transaction is that she is currently undergoing transfer procedures at the relevant agency as per regulations. (See details)

Wives and children of top bank and corporate executives are buying up shares in droves.

The stock market is declining, liquidity is low, and its attractiveness is diminishing. However, recently, the wives and children of tycoons and top executives of businesses and banks have been competing to buy and register to buy shares.

The phenomenon of wives and children of tycoons, top executives, and related parties at businesses and banks rushing to buy and register to buy shares amidst a sluggish stock market that has yet to escape its downward trend… is not uncommon in the past. (See details)

Source: https://vietnamnet.vn/vietlott-no-doc-dac-lien-tuc-khong-duoc-khuyen-mai-cho-nguoi-gui-tien-2345046.html