NEW RULE CLARIFIES INFORMATION PROVISION RESPONSIBILITY OF E-COMMERCE EXCHANGES’ OWNERS
Owners of e-commerce exchanges will have to fully, accurately and promptly provide tax agencies with information about traders that have conducted part or the whole process of buying and selling goods or services on their exchanges, according to a decree recently issued by the Government. Under Decree 91/2022/ND-CP on the amendments to some articles of […]
TWO OTHER ASSETS TO BE USED AS COLLATERAL FOR THE SPECIAL LOAN
The State Bank of Vietnam issues the Circular No. 13/2022/TT-NHNN amending and supplementing a number of articles of the Circular No. 08/2021/TT-NHNN dated July 06, 2021 of the Governor of the State Bank of Vietnam on grant of special loans to credit institutions placed under special control on October 28, 2022. Accordingly, in cases where […]
8 CHARGE AND FEE RATES ARE REDUCED FROM OCTOBER 01, 2022
On September 29, 2022, the Minister of Finance issues the Circular No. 59/2022/TT-BTC providing a number of charge and fee rates to support and remove difficulties for transport business. In particular, from October 01, 2022 to December 31, 2022, the Ministry of Transport reduces the number of charges and fee rates as follows: Reduce the […]
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 […]