Ho Chi Minh City Police Warns of Ghost Companies Issuing Fake Invoices

Key pointsAustralia is considering an extension of the anti-dumping duty on zinc-coated steel from Vietnam, India, and Malaysia. This duty has been in effect since August 2017 and was extended for five years in 2022. The current duty is set to expire on August 16, 2027, but BlueScope is requesting an extension. Australian investigations suggest that lifting the duty could impact the market with Vietnamese products.
Business impactJapanese companies need to reassess their export strategies to the Australian market and prepare for potential changes in tax regulations.

Key pointsThe tax authority reported that 1,590 VAT refund applications are currently being processed, with delays primarily due to taxpayers not preparing the necessary documents. In particular, Vina Kyoei has had an unresolved application since January. The tax authority is notifying applicants of their progress and urging them to prepare the required documents.
Business impactDelays in VAT refunds directly impact corporate cash flow, prompting Japanese companies to strengthen communication with the tax authority and expedite the preparation of necessary documents.

Key pointsTET Corporation has decided to shift from the sewing industry to real estate after increasing its capital by 11 times. The company will cease production at its factory on Lac Trung Street in Hanoi to launch a new luxury residential project called 'Pricety Lac Trung'. Established in 1957, TET Corporation has operated in the sewing industry for many years but will now focus on real estate development.
Business impactThis business transition indicates a shift from manufacturing to real estate in Vietnam, suggesting that Japanese companies need to reassess their strategies in response to market changes.

Key pointsThe State Bank of Vietnam (NHNN) has announced a draft of new monitoring regulations related to anti-money laundering. This draft includes monitoring of bank directors, major shareholders, and VIP clients, requiring oversight based on organizational structure, management models, and risk assessments. Notably, foreign shareholders and clients will be required to provide information, enhancing the monitoring system according to risk levels.
Business impactJapanese companies need to comply with the new regulations for anti-money laundering. In particular, the financial sector should strengthen customer information management and risk assessment.

Key pointsOn September 23, 2026, Vietnam's Ministry of Science and Technology granted permission to Amazon Kuiper, a US company, to establish a satellite communication network. This network is intended for testing devices and quality assessment within Vietnam. Amazon Kuiper aims to provide high-speed internet connectivity using over 3,200 low Earth orbit satellites.
Business impactThis authorization will promote the development of Vietnam's communication infrastructure and offer new business opportunities for Japanese companies. In particular, companies in the telecommunications sector will need to pay attention to future market trends and consider strategic partnerships.

Key pointsCT UAV has established a UAV (Unmanned Aerial Vehicle) factory in Garden Grove, California. This factory is a joint venture between CT Group and TJ Aerospace, with the opening ceremony held on September 21, 2026. CT UAV aims to research, design, and manufacture UAVs in 16 key areas, targeting to supply over 100 UAVs to the market daily.
Business impactJapanese companies may find new business opportunities by leveraging Vietnam's technological capabilities. In particular, advancements in UAV technology are expected to have applications in various fields such as logistics and agriculture.

Key pointsHo Chi Minh City police announced that 326 ghost companies issued 178,357 fake value-added tax invoices. In this case, 12 individuals were arrested, and an additional 25 were newly indicted. The police strongly warned businesses to avoid purchasing or using fake invoices.
Business impactThis incident highlights the potential tax risks and legal liabilities businesses may face if they neglect to verify the legal status of their partners. Japanese companies need to ensure the reliability of their partners and strictly adhere to compliance regulations.

Key pointsThe Standing Committee of the National Assembly of Vietnam is considering a bill to double fines for violations. Fines for individuals are expected to increase from 500,000 VND to 1,000,000 VND, and for organizations from 1,000,000 VND to 2,000,000 VND. Additionally, fines for violations detected through technical means are also expected to be expanded, allowing for immediate issuance of fines.
Business impactIf this bill is enacted, Japanese companies will need to strengthen compliance with regulations, particularly in labor management and compliance departments, to address the new penalties.