Central Bank adjusts loan risk coefficient in real estate sector
In an effort to tighten lending to real estate dealers, the State Bank of Vietnam on May 27 announced Circular No. 06/2016/TT-NHNN, revising Circular No. 36 issued in 2014, on prudential ratios of credit institutions and foreign bank branches. Accordingly, the risk coefficient of loans in the real estate sector will be raised to 200 […]
Company sues tax office for wrongfully appropriating money
A construction company based in the Mekong Delta city of Can Tho has filed a lawsuit against the local tax office saying the latter has unlawfully made a demand of over VND17 billion (US$751,000) in overdue land rent and fines. 720 Joint-stock Company decided to proceed against the city tax office after it deducted the […]
No discrimination in debt trading
There must be no discrimination in regulations with regard to debt trading between domestic and foreign participants, deputy prime minister Vuong Dinh Hue has said. At a meeting in Hanoi on Wednesday, Hue directed relevant authorities to compile a draft decree on debt trading. Deputy governor of the State Bank of Vietnam Nguyen Phuoc Thanh, […]
Business conditions needed for debt trading market
Deputy Prime Minister Vuong Dinh Hue has called on the State Bank of Vietnam (SBV) and relevant agencies to quickly draft business conditions for the debt trading market so that they can go before the Prime Minister by July 1. Hue was speaking at a meeting held by the central bank in Hanoi on Wednesday […]
Legal documents issued from May 16 thru 22
From May 16 thru 22, six legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Resolution No. 35/NQ-CP On support for and development of enterprises through 2020 Government May 16, 2016 May 16, 2016 Directive No. 16/CT-TTg Enhancing and renewing mass mobilization work at state administrative agencies and administrations at […]
Vietnam amends tax laws in tune with trade pacts
To create more favorable conditions for taxpayers and enhancing the tax administration, the XIIIth National Assembly on April 6 passed the Law Amending and Supplementing a Number of Articles of the Law on Value-Added Tax, the Law on Excise Tax and the Law on Tax Administration at its 11th session. Below are some prominent […]
Registration fees to be uniformly applied nationwide
From July 1, 2017, the Ministry of Finance (MOF) would take over the provincial-level People’s Committees’ power to decide on registration fees for all assets, except for houses and land, to be uniformly applied nationwide. According to a draft decree on registration fees recently proposed by the MOF forpublic comment, as for houses and land, […]
Government plans to submit TPP to National Assembly for ratification in July
The Trans-Pacific Partnership (TPP) agreement will be submitted to the 14th National Assembly for ratification at its first session scheduled for July this year.This is highlighted in Resolution No. 33/NQ-CP of May 9, on the Government’s April 2016 regular meeting. Accordingly, the Ministry of Industry and Trade will work with the Ministry of Justice, the Government […]
Legal documents issued from May 2 thru 8
From May 2 thru 8, four legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Decree No. 31/2016/ND-CP On sanctioning of administrative violations in the fields of plant varieties and plant protection and quarantine Government May 6, 2016 June 25, 2016 Decision No. 19/2016/QD-TTg Promulgating the Regulation on responsibilities of […]
Draft law to offer various supports to startups
The Ministry of Planning and Investment is working on the second draft of a law on supports for small- and medium-sized enterprises (SMEs), which is expected to devote a separate section on programs to assist startup businesses. According to drafters, supports would be given to SMEs set up and having operated for three years since […]