Shareholding percentage of a foreign organization shall not exceed 15% of a Vietnamese credit institution’s charter capital
This is one of remarkable point in Decision No. 01/2014/ND-CP dated January 3, 2014 of the Government on foreign investors’ share purchase from Vietnamese credit institutions
Accordingly, shareholding percentage of a foreign individual shall not exceed 5% of charter capital of a Vietnamese credit institution and shareholding percentage of a...
Decree No. 32/2015/ND-CP of Government regarding to the construction cost management.
Some significant regulations of the Decree:
- Construction costs of each project, construction, contract must be calculated correctly and sufficiently and appropriate for design requirements, technical instructions, construction conditions, market prices at that time, and the construction site.
- Investors may hire cost management consultants who are qualified as prescribed in...
Adjusting salaries and monthly incomes for which the social insurance premiums
The Circular No. 58/2015/TT-BLDTBXH issued by the Ministry of Labor, War Invalids and Social Affairs on December 29, 2015 guiding the adjustment rate of salaries and monthly incomes for which the social insurance premiums have been paid.
In accordance with this Circular, the monthly salaries for which social insurance premiums...
Land use right transfers before july 01, 1994 are excluded from personal income tax
This is the important contents prescribed at the Circular No. 151/2014/TT-BTC dated October 10, 2014 of the Ministry of Finance Guiding the implementation of the Government’s Decree No. 91/2014/ND-CP of October 1, 2014, amending and supplementing a number of articles of decrees on taxes.
Beside supplementing the regulations on persons...
Charter capital of deposit insurance of vietnam is VND 5 trillion
On November 24, 2016, the Ministry of Finance issued the Circular No. 312/2016/TT-BTC defining financial regulations with respect to deposit insurance of Vietnam, a financial institution that is operating in the form of a single-member limited liability company of which 100% charter capital is held by the State, having...
Material tobacco’s imported under the 2015 tariff quotas is 46,305 tons
On December 15, 2014, the Ministry of Industry and Trade issued the Circular No. 49/2014/TT-BCT on the import of material tobacco under the 2015 tariff quotas.
Accordingly, from January 01, 2015 to December 31, 2015, the material tobacco (HS Code 2401) to be imported under the 2015 tariff quotas is...
Regulations on the construction cost management
The Government issued the Decree No. 32/2015/ND-CP dated March 25, 2015 on the construction cost management including total construction investment, construction estimate, construction contract estimate, construction norms, construction prices, construction price indexes, project management and construction consultancy cost, payment for and finalization of construction contracts; reimbursement and statement of...
brand name is not listed in the procurement bidding dossiers
Procurement bidding dossiers not allowed to list the brand name, specific origin of goods which can cause unfair competition is the important content prescribed at the Circular No. 05/2015/TT-BKHDT dated June 16, 2015 of the Ministry of Planning and Investment detailing the making of goods procurement bidding dossiers.
On taxes,...
Procedures of declaring value added tax for foreign contractors
On February 11, 2015, the Ministry of Finance signed the Decision No. 274/QD-BTC on publishing amendments and supplements of administrative procedures in the tax management under the Ministry of Finance’s authority.
Under this Decision, procedures of declaring tax for foreign contractors, foreign sub-contractors paying value added tax according to the...
Multi-level makerting business must have minimum capital of vnd 10 billion
This is one of new contents prescribed at the Decree No. 42/2014/ND-CP dated May 14, 2014 of the Government on management of multi-level marketing activities[...]
