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, […]
DEPOSITS ELIGIBLE FOR PREMATURE WITHDRAWAL AT CREDIT INSTITUTIONS
On June 16, 2022, the State Bank of Vietnam issues the Circular No. 04/2022/TT-NHNN providing for the application of interest rates upon premature withdrawal of deposits from credit institutions and foreign bank branches. Accordingly, deposits eligible for premature withdrawal include: Time saving deposits; Time deposits; Certificates of deposit, promissory notes, treasury bills and bonds issued […]
AMEND REGULATIONS REGARDING THE APPROPRIATION OF PROVISIONS OF LOSS OF INVESTMENT
On April 07, 2022, the Ministry of Finance issues the Circular No. 24/2022/TT-BTC amending and supplementing a number of articles of the Minister of Finance’s Circular No. 48/2019/TT-NHNN dated August 08, 2019, providing instructions on the appropriation and use of provisions of devaluation of inventories, loss of investments, bad receivable debts and warranty for products, […]
THE NUMBER OF IMPORT TAX RATES WILL BE 20 BY 2030
This is a remarkable content defined in the Decision No. 508/QD-TTg dated April 23, 2022 of the Prime Minister on approving the Tax System Reform Strategy until 2030. According to this Decision, by 2025, strive that the percentage of electronic support for taxpayers will be at least 70%; at least 80% of tax registration dossiers […]
Increase maximum annual overtime to 300 hours from April
On March 23, 2022, the National Assembly Standing Committee issues the Resolution No. 17/2022/UBTVQH15 on employees’ monthly, annual overtime hours in the context of prevention and control of the COVID-19 pandemic and socio-economic recovery and development. Accordingly, the employer may request the employee for overtime work for more than 200 hours but not exceeding 300 […]
INCREASE THE LIMITATION OF PENALTY FOR ADMINISTRATIVE VIOLATIONS AND PENALTIES WITH MULTIPLE INVOICES RELATED TO INVOICES
From 2022, increase the statute of limitations for sanctioning administrative violations on invoices On November 16, 2021, the Government issued Decree 102/2021/ND-CP amending Decrees on sanctioning administrative violations in the field taxes, invoices; custom; insurance business, the lottery business. Accordingly, the statute of limitations for sanctioning administrative violations on invoices is 02 years (instead of […]
REDUCE VAT RATE TO 8% FROM FEBRUARY 01
On January 28, 2022, the Government issues Decree No. 15/2022/ND-CP on tax exemption and reduction policy under the National Assembly’s Resolution No. 43/2022/QH15 on fiscal and monetary policies supporting socio-economic recovery and development programs. Accordingly, business establishments that calculate value-added tax according to the value-added tax credit method may apply the value-added tax (VAT) rate […]
THE INVESTOR’S EQUITY IS NOT LESS THAN 20% OF THE TOTAL INVESTMENT CAPITAL FOR A PROJECT USING UNDER 20 HECTARES OF LAND
This is a remarkable content specified in the Government’s Decree No. 02/2022/ND-CP detailing a number of articles of the Law on Real Estate Business dated January 06, 2022. Before, organizations and individuals doing real estate business shall establish enterprises in accordance with the law on enterprises or establish cooperatives in accordance with the law on […]