The support program to respond to climate change (SP–RCC)
On October 27, 2016, the Prime Minister signed the Decision No. 2044/QD-TTg on granting approval for policy framework 2016 (supplemented), policy framework 2017 and document of support program to respond to climate change (SP–RCC ) in period 2016 – 2020.
Within that, the policy framework 2016 (supplemented) under the SP...
Increase the import tax for petroleum to 35% from january 07
The Ministry of Finance has just issued the Circular No. 03/2015/TT-BTC dated January 6, 2015 of the Ministry of Finance amending the preferential import tax rate for some petroleum commodities in the Heading 27.10 in the Preferential Import Tariff, decide to increase the preferential import tax for leaded or...
License fees for organization engaging in business with the maximum level of VND 3 million
Takes effect on January 01,2017, the Circular No. 302/2016/TT-BTC dated November 15, 2016 of the Ministry of Finance guiding the license fees for the organizations and individuals engaging in business operation from VND 01 – 03 million/year.
Within that the amounts of annual licensing fees for organizations engaging in business...
Rules of origin provided for in VN – EAEU FTA
On September 20, 2016, the Ministry of Industry and Trade issued the Circular No. 21/2016/TT-BCT providing for the implementation of rules of origin provided for in the free trade agreement between Vietnam and Eurasian Economic Union, the rules of origin provided for in this Circular shall be applied only...
Vault doors must have import permits
On August 01, 2014, the State Bank of Vietnam issued the Circular No. 18/2014/TT-NHNN on guiding import of goods subject to the State Bank’s specialized management[...]
To reduce the import tax of motor sprint by 20% from april 14, 2015
On April 13, 2015, the Ministry of Finance issued the Circular No. 48/2015/TT-BTC amending the preferential import tax rates applicable to a number of items in subheading 27.10 of preferential import tariff.
Accordingly, from April 14m 2015, the preferential import tax for a number of items of biogasoline and...
Income from the property lease vnd 100 million/year not required to pay VAT
The Ministry of Finance issued the Circular No. 119/2014/TT-BTC dated August 25, 2014 of the Ministry of Finance amending and supplementing a number of articles of the Circular No. 156/2013/TT-BTC, Circular No. 111/2013/TT-BTC, Circular No. 219/2013/TT-BTC, Circular No. 08/2013/TT-BTC, Circular No. 85/2011/TT-BTC, Circular No. 39/2014/TT-BTC and Circular No. 78/2014/TT-BTC in order to simplify tax formalities.[...]
Co-Operative bank allowed to reschedule debts
On May 20, 2014, the State Bank of Vietnam issued the Circular No. 14/2014/TT-NHNN amending, supplementing a number of Articles of the Regulations on classification of debts, appropriation, setting up and use of reserves for handling credit risks in banking activities of credit institutions
To reduce pit of individuals working in the IT industry by 50%
This is one of the most important solutions on tax incentives for developing and applying information technology in Vietnam issued with the Resolution No. 41/NQ-CP dated May 26, 2016 of the Government.
In particular, beside the policy that personal income tax on salary-based and wage-based incomes of individuals working in...
Labor Code of Vietnam 2012
The Labor Code No. 10/2012/QH13 dated June 18, 2012 of the National Assembly specifies the labor standards; the rights, obligations and responsibilities of the employees[....]
