Press Release on issuance of Circular No.01/2015/TT-NHNN
The State Bank of Vietnam (SBV) issued Circular No. 01/2015/TT-NHNN on January 6 to stipulate trading and provision of interest rate derivative products of commercial banks and foreign bank branches. This Circular replaces Decision No.62/2006/QD-NHNN dated December 29, 2006 on regulations on execution of interest rate swap transactions. This Circular is applicable to commercial banks and foreign […]
New law drafted to prop up private sector
The Ministry of Planning and Investment is drafting a new law intended to guarantee breakthrough development in the private sector, said minister Bui Quang Vinh. Vinh told reporters in Hanoi on January 13 that he expected the draft of the law on small and medium enterprises (SMEs) to be completed and put on the table […]
Finance Ministry proposes abolishing a series of charges and fees
The Ministry of Finance has proposed abolishing, or shifting to the service price mechanism, 26 types of charges and fees in order to suit practical conditions. This is one salient point of the draft Law on Charges and Fees which is being circulated for public comments. Accordingly, 22 types of charges, including security and order […]
Implementing contents in amended laws on taxation
The Ministry of Finance sent Office Notice 17526/BTC-TCT to provincial and municipal people’s committees, departments of finance and departments of taxation on implementing some contents in the amended laws and supplementing a number of articles in laws on taxation adopted in the eighth session of the 13th National Assembly (NA). Some contents need to be […]
Tax incentives in building high-tech parks
The Ministry of Finance has given their opinions in a draft on approving the high-tech park development master plan based on Office Notice 17240/BTC-CST. The Ministry of Finance has agreed with the building of the high-tech park development master plan outlined by the Ministry of Science and Technology in a draft submitted to the prime […]
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 […]