NEW DECREE ON REGISTRATION FEE RATES FOR DOMESTICALLY MANUFACTURED AUTOMOBILES FROM JULY 01, 2023
The Government hereby issues Decree No. 41/2023/ND-CP prescribing registration fee rates for automobiles, trailers, or semi-trailers pulled by automobiles and vehicles like domestically manufactured and assembled automobiles. Accordingly, from July 01, 2023, to the end of December 31, 2023: The registration fee rates are equal to 50% of those prescribed in the Government’s Decree No. […]
WHAT ARE THE FINES FOR ENTERPRISES WHEN PAYING LOWER WAGES THAN REGION-BASED MINIMUM WAGES FOR EMPLOYEES?
The employer shall pay wages to employees based on agreed wage levels, labor productivity, and work quality, but cannot be lower than the region-based minimum wage. Fines shall be imposed on any employer that pays employees less than the minimum wage prescribed by the Government under Clause 3, Article 17, Decree No. 12/2022/ND-CP as follows: A fine […]
MAXIMUM INTEREST RATE APPLICABLE TO DEPOSITS IN VIETNAM DONG
Reduce the maximum interest rate applicable to deposits with a term of one month to less than six months to 5.0% per annum. On May 23, 2023, the State Bank of Vietnam issues the Decision No. 951/QD-NHNN on the maximum interest rate applicable to deposits in Vietnamese Dong of organizations and individuals at credit institutions […]
GUIDING CORPORATIONS TO CHANGE THE CONDITIONS OF ISSUED BONDS
On March 05, 2023, the Government issues Decree No. 08/2023/ND-CP on amending and supplementing and ceasing the effectiveness of a number of Articles of the Decree on private placement of corporate bonds In previous regulations, the Government prescribes that corporations are not allowed to change the conditions and provisions of bonds which are approved at […]
NEW RULE CLARIFIES INFORMATION PROVISION RESPONSIBILITY OF E-COMMERCE EXCHANGES’ OWNERS
Owners of e-commerce exchanges will have to fully, accurately and promptly provide tax agencies with information about traders that have conducted part or the whole process of buying and selling goods or services on their exchanges, according to a decree recently issued by the Government. Under Decree 91/2022/ND-CP on the amendments to some articles of […]
TWO OTHER ASSETS TO BE USED AS COLLATERAL FOR THE SPECIAL LOAN
The State Bank of Vietnam issues the Circular No. 13/2022/TT-NHNN amending and supplementing a number of articles of the Circular No. 08/2021/TT-NHNN dated July 06, 2021 of the Governor of the State Bank of Vietnam on grant of special loans to credit institutions placed under special control on October 28, 2022. Accordingly, in cases where […]
8 CHARGE AND FEE RATES ARE REDUCED FROM OCTOBER 01, 2022
On September 29, 2022, the Minister of Finance issues the Circular No. 59/2022/TT-BTC providing a number of charge and fee rates to support and remove difficulties for transport business. In particular, from October 01, 2022 to December 31, 2022, the Ministry of Transport reduces the number of charges and fee rates as follows: Reduce the […]
PUBLIC EMPLOYEES MAY RETIRE UP TO 5 YEARS LATER THAN THE PRESCRIBED RETIREMENT AGES
This highlight content is prescribed in the Government’s Decree No. 50/2022/ND-CP dated August 02, 2022, providing regulations on retirement later than the prescribed retirement ages applicable to public employees in public non-business units. Specifically, public employees may retire up to 5 years (60 months) later than their retirement ages as specified in Decree No. 135/2020/ND-CP. […]
NEW RULE PERMITS PAYMENT OF VIDEO GAME PRIZES IN FOREIGN CURRENCIES
Foreign players of prize-winning video games may exchange their won tokens for foreign currencies or Vietnam Dong, according to a circular recently issued by the State Bank of Vietnam. Under Circular 09 dated July 12, the par value of video game tokens may be nominated in Vietnam Dong or convertible foreign currencies. Enterprises are allowed […]
CONSTRUCTION CONTRACTORS HAVE TO BUY A COMPULSORY CIVIL LIABILITY INSURANCE FOR THIRD PARTIES FROM 01 JULY 2022
This content is stipulated in the Government’s Decree No. 20/2022/ND-CP dated March 10, 2022, amending and supplementing a number of articles of the Government’s Decree No. 119/2015/ND-CP dated November 13, 2015, prescribing compulsory insurance in construction investment activities. According to the new provisions, in addition to compulsory insurance for workers working on the construction sites, […]