What is the HNX's Tet holiday schedule? Are revenues from securities transfer subject to corporate income tax in Vietnam?
What is the HNX's Tet holiday schedule 2025?
On January 17, 2025, the Hanoi Stock Exchange issued Announcement 165/TB-SGDHN...Download regarding the Tet holiday schedule of HNX for 2025 (suspension of trading in celebration of the Lunar New Year 2025).
To be specific, the HNX Tet holiday schedule for 2025 is as follows:
- The Hanoi Stock Exchange (HNX) will suspend trading from Monday, January 27, 2025, until the end of Friday, January 31, 2025 (5 working days), corresponding to the period from December 28, 2024, to the end of the 3rd day of the Lunar New Year 2025.
- The Hanoi Stock Exchange (HNX) will resume normal trading from Monday, February 3, 2025 (6th day of the Lunar New Year).
What is the HNX's Tet holiday schedule 2025? (Image from the Internet)
What are the conditions for a joint-stock company to make an initial public offering of shares in Vietnam?
According to Clause 1, Article 15 of the Securities Law 2019, a joint-stock company wishing to make an initial public offering of shares must meet the following conditions:
- The contributed charter capital at the time of registration for the offering must be at least 30 billion VND, based on book value;
- Business activities for two consecutive years prior to the year of registration for the offering must be profitable, with no accumulated losses up to the year of registration for the offering;
- There must be an issuance plan and a plan for the use of capital obtained from the share offering, approved by the General Meeting of Shareholders;
- At least 15% of the voting shares of the issuing organization must be sold to at least 100 investors who are not major shareholders; if the charter capital of the issuing organization is 1,000 billion VND or more, the minimum rate is 10% of the voting shares of the issuing organization;
- Major shareholders before the initial public offering of the issuing organization must commit to jointly holding at least 20% of the charter capital of the issuing organization for at least 1 year from the date of the end of the offering;
- The issuing organization must not be under criminal investigation or have been convicted of any economic management order violation if the criminal record has not been expunged;
- There must be a securities company advising on the registration dossier for the public offering of shares, except in cases where the issuing organization is a securities company;
- There must be a commitment and obligation to list or register for trading the shares on the stock trading system after the offering ends;
- The issuing organization must open a blocked account to receive money from the share offering.
Are revenues from securities transfer subject to corporate income tax in Vietnam?
Based on Article 3 of Decree 218/2013/ND-CP, the definition of taxable income for corporate income tax is as follows:
Taxable Income
- Taxable income includes income from production activities, service business, and other income specified in Clause 2 of this Article. For businesses registered for operation and with income specified in Clause 2 of this Article, this income is regarded as income from the production, business activities of the establishment.
2. Other income includes:
a) Income from capital transfer, including income from transferring part or all of the capital invested in an enterprise, including cases of selling enterprises, transferring securities, transferring capital contribution rights, and other capital transfer forms as prescribed by law;
b) Income from transferring investment projects, income from transferring rights to participate in investment projects, income from transferring exploration rights, exploitation, and mineral processing rights as prescribed by law; income from real estate transfer as provided at Articles 13 and 14 of this Decree;
c) Income from rights to use, property ownership rights including income from intellectual property rights, income from technology transfer as prescribed by law;
d) Income from transfer, lease, liquidation of assets (excluding real estate), including other valuable papers;
...
Thus, revenues from securities transfer are considered taxable income for corporate income tax.
How to determine corporate income tax from securities transfer in Vietnam?
Based on Clause 2, Article 15 of Circular 78/2014/TT-BTC, taxable income from securities transfer during the period is determined by subtracting the purchase price and the related costs from the selling price of the transferred securities.
Where:
- The selling price of securities is determined as follows:
+ For listed securities and securities of public companies not yet listed but registered for trading at the securities trading center, the selling price of securities is the actual selling price (matching price or negotiated price) as announced by the stock exchange, securities trading center.
+ For securities of companies not falling within the above cases, the selling price of securities is the transfer price recorded in the transfer contract.
- The purchase price of securities is determined as follows:
+ For listed securities and securities of public companies not yet listed but registered for trading at the securities trading center, the purchase price of securities is the actual purchase price (matching price or negotiated price) as announced by the stock exchange, securities trading center.
+ For securities purchased through auction, the purchase price of securities is the price recorded in the auction result notice of the share auction organizing institution and the payment voucher.
+ For securities not falling within the above cases: the purchase price of securities is the transfer price recorded in the transfer contract.
- Transfer costs are the actual expenses directly related to the transfer, supported by valid vouchers and invoices.
Transfer costs include: expenses for necessary legal procedures for the transfer; fees and charges to be paid when completing transfer procedures; securities custody fees as prescribed by the State Securities Commission and receipts from securities companies; securities entrustment fees based on receipts from the entrusted unit; transaction costs, negotiation, contract signing costs for transfer, and other costs with supporting documents.
Enterprises with income from securities transfer determine this income as other income and declare it within taxable income when calculating corporate income tax.
