Important regulations effective from this month
Heavy fines for littering public places, vocational training support for young people and change of dialing codes are among important regulations that will be effective from this month. Government’s Decree 155/2016/ND-CP was put into action on Wednesday, imposing heavy fines amounting to between VND3 million (US$133) and VND7 million ($313) on those who litter public […]
New regulations on e-money, virtual currencies to be drafted
The Ministry of Justice is building a draft scheme on improving the legal framework for management and handling of virtual property, e-money and virtual currencies to be presented to the Government for promulgation of three separate decrees on the contents. Contributing opinions to the scheme, the State Bank of Vietnam (SBV) confirms that the legal […]
New policies take effect in January
The government issued Decree No. 139/2016/ND-CP dated on October 4, 2016 to regulate licensing fees. The licensing fee payers are organisations and individuals that operating their trade/production of goods and services, including not only enterprises, cooperatives, non-business units, branches, representative offices, business locations but also individuals, groups of individuals and households that have their trade/production […]
Fresh laws take effect since January
The Civil Code and six amended laws on State Budget, Press, Pharmacy, Fees and Charges, Accounting, and amendments to Article 6 and Annex 4 of the Law on Investment took effect since January 1, 2017. The Civil Code stipulates eight fundamental principles of civil law, creating a “legal corridor” to ensure that the civil rights of all […]
Official Gazette issues Nos 1-4 October 2016, issued on December 20, 2016
Available on December 20, 2016, Official Gazette issues Nos. 1-4 of October 2016 introduce five ministerial circulars and eight government decrees translated into English. They are:– Decree No. 130/2016/ND-CP of September 1, 2016, on Vietnam’s Special Preferential Import Tariff to implement the ASEAN-Korea Trade in Goods Agreement during 2016-2018;– Decree No. 131/2016/ND-CP of September 1, […]
New-generation Securities Law to be built
A totally new Securities Law will be built in 2018 and the legal framework for the development of the derivative securities market for the 2017-20 period will be further completed, heard a workshop on statutory improvement of the securities market towards modernity and integration in Hanoi on December 16.At the workshop, experts emphasized the necessity […]
Proposed changes to investment law mostly concern foreign investors
The Government Office, the Ministry of Planning and Investment (MPI) and the Vietnam Chamber of Commerce and Industry (VCCI) last month jointly held a seminar in Hanoi to discuss a draft law revising a dozen of laws on business and investment.According to the draft law unveiled at the seminar, 80 articles of the Investment Law, […]
New policies come into effect in December
A series of policies on the function, tasks, right and organisation of the government Office, autonomy mechanism of the public units, sanctioning of securities- and securities market-related administrative violations and the ordinance on market management will take effect since December 2016. Decree No. 141/2016/ND-CP was introduced on October 10, 2016, regulating on autonomy mechanism of […]
SBV sets initial goals for 2017 monetary policy operating
The State Bank of Vietnam (SBV) has released the operating results of monetary policy and the initial orientations for 2017. According to the agency, in the first 11 months of 2016, the total means of payments grew higher than the same period but did not put pressure on inflation. The core inflation remained stable while […]
Online tax refund soon in 13 cities, provinces
The online tax refund pilot project would be implemented in 13 municipal taxation departments this year and expanded next year. The project is aimed at reducing negative phenomena in the refund of value added tax (VAT). Nguyen Dai Tri, deputy head of the general Department of Taxation under the finance ministry, released the information at […]