Project adjustment procedures need to be followed
While implementing investment project adjustments, it is essential for investors to determine the cases where they need to carry out registration or examination procedures in accordance with the law. The adjustment of investment projects is effected in the form of amending and supplementing the contents of the investment certificates. Enterprises are required to implement the […]
Legislators discuss new draft laws
The National Assembly (NA) Standing Committee convened its 33rd session in Ha Noi yesterday under NA Chairman Nguyen Sinh Hung. During the two-day session, lawmakers are reviewing the outcomes of the 13th NA’s eighth plenary session and debating four draft laws and two draft ordinances, focusing on the revised draft Civil Code since it will […]
Short-term foreign lending extended
The State Bank of Viet Nam (SBV) will extend short-term foreign currency lending to exporters and petrol importers by one year, in a move to support these businesses, said SBV Governor Nguyen Thi Hong. Under the SBV’s Circular No 29/2013/TT-NHNN on lending in foreign currencies, issued in 2013, lending would expire on December 31 this […]
Guiding VAT on several items
(VEN) – The Ministry of Finance issued Office Notice 17709/BTC-TCT not applying the value-added tax (VAT) on fertilizers, machinery and equipment serving agricultural production, offshore fishing boats and animal feed from imports, production to trading from January 1, 2015. Provincial and municipal people’s committees direct local departments of taxation in a close coordination with management […]
Some foreign employees no longer need permits to work in Viet Nam
The Ministry of Industry and Trade (MOIT) issued Circular No. 41/2014/TT-BCT (5 November 2014) on bases and procedures for determining that a foreign employee internally transferring within an enterprise belonging to one of eleven services in the list of service commitments of Viet Nam on the WTO (Service Commitment List) is not required to obtain […]
More sanctions on environmental protection
The revised Law on environmental protection has been passed at the 7th session of the 13th National Assembly. It contains 20 chapters and 170 articles and will officially take effect from January 1, 2015. This is seen as an important legal framework for state management of the environment. Deputy Minister of Natural Resources and Environment […]
Foreigners with working permit required to join social insurance
Foreigners with working permits or professional licenses granted by Vietnamese authorised agencies will be required to join Vietnam’s social insurance, according to the new Law on Social Insurance announced by the Presidential Office on December 11. The regulation will come into force as from January 1, 2018 while the law will take effect on January 1, […]
SBV tightens rules for online foreign currency transactions
Financial institutions have to report international online transactions worth more than US$1,000, or the equivalent in other currencies, to the State Bank of Viet Nam’s (SBV) Anti-money Laundering Department. They are also required to report local transactions worth more than VND500 million ($23,810), or the equivalent in other currencies, to the department. The regulations are […]
E-wallet service providers granted official license from March
Electronic wallet service providers will be granted an official license in March 2015, more than five years after the pilot programme was set in motion. As a payment intermediary service, it will be regulated by instructions given in Decree No. 39/2014/TT-NHNN, issued by the State Bank of Viet Nam (SBV) on December 11. The e-wallet […]
List of goods announced for customs inspections
The Ministry of Industry and Trade has announced the list of products that are exported or imported which need to undergo checks for quality, technical standards and food safety before being given customs clearance. The list, released this month, included goods controlled by the ministry, such as textile and garments, steel and products made of […]