LIMITATION ON CROSS-OWNERSHIP AMONG COMPANIES
On October 02, 2015, the Ministry of Finance issued the Circular No. 152/2015/TT-BTC guiding the severance tax, and the taxable items are metallic minerals; non-metallic minerals; products of natural forests; natural aquatic organisms, including marine animals and plants; natural water; natural bird’s nests other than those collected from construction...
SECURITY EQUIPMENT ONBOARD SHIPS, MOBILE DRILLING RIGS MUST MAINTAIN 24/24
On December 27, 2016, the Government issued the Decree No. 170/2016/ND-CP dated December 27, 2016 of the Government regulating on announcement, receiving, processing and transmitting maritime security information.
Within that, the most important content is the responsibilities of owners of Vietnamese ships, port facilities and mobile drilling rigs. Every owner...
BANKS MUST MAINTAIN THE MINIMUM CAPITAL ADEQUACY RATIO OF 8%
Takes effect on January 01, 2020, the Circular No. 41/2016/TT-NHNN dated December 30, 2016 of the State Bank of Vietnam prescribing prudential ratios for operations of banks and/or foreign bank branches.
One of the most important content is that banks without subsidiary companies and/or foreign bank branches must maintain the...
DISCLOSURE OF THE STATE FINANCIAL REPORTS IS COMPULSORY
On March 14, 2017, the Government issued the Decree No. 25/2017/ND-CP on state financial reports prescribing that national and provincial state financial reports shall be made according to the annual accounting period starting on January 1 and ending on December 31 of the calendar year.
Units tasked to compile state...
To free export tax for Vietnamese green label
On August 09, 2016, the Ministry of Finance issued the Circular No. 128/2016/TT-BTC on export duty exemption and reduction for environment-friendly products; and products from waste recycling and treatment activities prescribed in the Government’s Decree No. 19/2015/ND-CP of February 14, 2015, detailing a number of articles of the Law...
In 2020, GDP per capita is approximately 3,200 – 3,500 USD
The Resolution No. 142/2016/QH13 on 5-year socio- economic development plan from 2016-2020 passed by the National Assembly on April 12, 2016, Stabilize the macro- economy and boost the growth of national economy; restructure the economy, improve productivity and competitiveness. Foster national cultures, democracy, social justice, social welfare and security…
The...
Foreign experts working under 90 days per year in vietnam are exempted from work permits
In accordance with the Decree No. 11/2016/ND-CP dated February 03, 2016 of the Government detailing the Regulations on the implementation of a number of Articles of the Labor Code regarding foreign workers in Vietnam, the workers enter Vietnam to hold the positions of experts, managers, chief executive officers or...
TO SUPPLEMENT THE CASES TERMINATED AS MEMBER OF GOVERNMENT BONDS
This is the important content prescribed at the Circular No. 10/2017/TT-BTC dated February 06, 2017 of the Ministry of Finance on amending and supplementing a number of articles of the Circular No. 234/2012/TT-BTC dated December 28, 2012 of the Ministry of Finance on management of transactions in government bonds,...
Principles in determination of the unit labor cost
The Circular No. 05/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction providing guidance on determination of the unit labor cost in the construction cost management, applicable to agencies, organizations and individuals related to the management of the construction cost of investment and construction projects using state budget funds...
Guidelines on late payment interest for tax debts
On August 12, 2016, the Ministry of Finance promulgated the Circular No. 130/2016/TT-BTC guiding the Government Decree No. 100/2016/ND-CP on the implementation of the Law on amendments to certain articles of the Law on value added tax, the Law on special excise tax and the Law on tax administration...
