Two administrative procedures in Customs area
VCN- The General Department of Vietnam Customs has issued an Official dispatch to direct subordinate-units to publicize one new administrative procedure and one revised administrative procedure forthe business communityand customs declarants. Minister of Finance issued Decision 20161/QD-BTC announcing a new administrative procedure and revised administrative procedures and abolished procedures in the customs area under […]
Customs declarants must archive originals of documents for a specified period of time
VCN – At the request of Esquel Garment Manufacturing Vietnam – Hoa Binh Co., Ltd, according to the General Department of Customs, customs declarants must archive originals of the documents in customs records and related documents within the time prescribed by law, in the case of electronic documents, they may be archived in electronic form […]
Enterprise Law to make enterprises “take off”
VCN – Business activities of enterprises always have “changes” under the fluctuations of the economy, therefore, the business law must also have changes to be more suitable. The Enterprise Law (amended) being discussed by the National Assembly is expected to have more positive changes for businesses The “openness” of business The current Enterprise Law 2014 was […]
Search Regulations on working overtime in the revised Labour Code: Enterprises are easy to break the law
VCN – The draft of the Labour Code (amended) will be submitted to the National Assembly at the 8th session (opening on October 21, 2019). Through many comments on the draft, the business community continues to maintain its opinion on the need to revise the Labour Code to better suit the reality of businesses including employment […]
New regulations on origin determination are in force
VCN – On October 21, Circular 62/2019/TT-BTC of the Ministry of Finance, amending and supplementing a number of articles of Circular 38/2018/TT-BTC on determining the origin of imported and exported goods, came into force. Many new contents need to be noted to ensure the facilitation of goods clearance activities, while ensuring the control of the […]
Search From November 1, import tax on crude oil will be reduced to zero percent
Accordingly, the normal import tax rate on crude oil products (item code 2709.00.10) will be reduced from five percent to zero percent.Specifically, amending and supplementing the Appendix of the List of common import tax rates as prescribed in Article 2 of Decision No. 45/2017 / QD-TTg of November 16, 2017. In addition, Decision 28/2019 / […]
Continue to adjust many tax rates in draft preferential import tariff
VCN – Since the middle of March 2019, the Ministry of Finance has twice sent comments for the Draft Decree amending and supplementing Decree No. 125/2017 / ND-CP on the Tariff Schedule and preferential import tax to seek opinions of organizations and individuals. However, by mid-September, newly arising petitions continue to be sent. Currently, the Ministry […]
Circular guiding the implementation of e-invoices was officially issued
Circular 68 states that from November 1, 2020, businesses, economic organisations, other organisations, business households and individuals must register for the application of e-invoices. Accordingly, 100 percent of businesses, organisations, individuals, business households and individuals are required to deploy e-invoices according to the plan specified in Decree 119/2018/ND-CP from November 1, 2020. Some provinces and […]
Ministry of Finance cooperates with other ministries to reform specialized inspections
VCN- Recently, in the written response to the recommendations of the Presidium of the Central Committee of the Vietnam Fatherland Front, the Ministry of Finance said that, as a focal point, the Ministry continued to actively coordinate with other ministries to implement many solutions to reform the specialized inspections under the Prime Minister’s Decision 2026 […]
Search Value added tax policy on repurposed goods
VCN – Facing problems in the calculation of Value Added Tax (VAT) on imported industrial sewing machines subject to import tax exemption but subject to VAT, but are repurposed and sold domestically, some enterprises raised questions on VAT calculation and deduction on repurposed goods, guided by the General Department of Customs. On tax policy According […]