Legal Document Updates in English (19/2015)

THE CHARGE FOR COMMERCIAL PANGASIUS’S APPRAISAL
IS 100,000 VND/01 EXPORTING CONTRACT

This is the content prescribed at the Circular No. 46/2015/TT-BTC dated April 07, 2015 of the Ministry of Finance providing for the collection rates, regime of collection, remittance, management and use of charges for the appraisal for commercial pangasius.

In accordance with the regulations in this Circular, Organizations, individuals when registering to export pangasius with Vietnam Pangasius Association must pay the charges for appraisal for commercial Pangasius and the

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INCREASE THE AVERAGE ELECTRICITY SELLING PRICE USED
AS TAXABLE PRICE OF NATURAL WATER RESOURCES FROM MARCH 16

This is the important content prescribed at the Decision No. 567/QD-BTC dated March 26, 2015 of the Ministry of Finance announcing the average electricity selling price used as taxable price of natural water resources used for hydropower generation.

In particular, from March 16, 2015, the average electricity selling price used as the taxable price of natural water resources applied to hydropower-generating plants, which is applied from March 16, 2015, is VND 1,622.01/kWh,

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GUIDANCE FOR PREPARING INTERIM FINANCIAL STATEMENTS

On May 18, 2015, the Ministry of Finance issued the Circular No. 75/2015/TT-BTC  amending the Article 128 of the Circular No. 200/2014/TT-BTC dated December 22, 2014 guiding the accounting policies for enterprises.

In accordance with this Circular’s regulation, every enterprise which is required to prepare interim financial statements (quarterly financial statements and semiannual financial statements) may decide whether to follow Decision No. 15/2006/QD-BTC dated March 20, 2006 of the Minister of Finance on issuance of accounting policies for enterprises or this Circular to prepare interim financial statements of 2015. The annual financial statement of 2015 must comply with regulations of the Circular No. 200/2014/TT-BTC dated December 22, 2014.

MANY INCENTIVES AND SUPPORTS FOR ENVIRONMENTAL PROTECTION ACTIVITIES

In accordance with the Decree No. 19/2015/ND-CP issued by the Government on February 14, 2015 detailing a number of articles of the Law on Environmental Protection. The State shall provide land- and capital-related incentives and supports; exempt and reduce taxes for environmental protection activities; subsidize prices and support sale of products created from environmental protection activities and provide other incentives and supports for environmental protection activities.

Within that, seriously polluting establishments to be relocated (below referred to as establishments) that were allocated land by the State without land use levy payment or with land use levy payment before July 1, 2014 (before the effective date of the 2013 Land Law) or were lawfully transferred land use rights with the land use levy paid to the State or the amount paid for the transferred land use rights originated from the State may use all the money collected from the auction of land use rights and land-attached assets (after deducting costs for organizing the auction), record such money as state budget capital in accordance with law and use it to pay land use levy, land rental and costs for

CONDITIONS FOR FOOD SAFETY ASSURANCE FOR VEGETABLE OIL PRODUCTION

On December 22, 2014, the Ministry of Industry and Trade issued the Circular No. 59/2014/TT-BCT dated December 22, 2014 prescribing conditions for food safety assurance for vegetable oil production and trading establishments and takes effect on February 06, 2015.

Accordingly, Vegetable oil production establishments must have production location constructed under current planning approved by competent state agencies; located far away from sources of pollution, toxicity that may impose bad effects on food safety quality of vegetable oil products;  the arrangement and design of factory must have layout of production line must be arranged to appropriate wind direction to avoid adverse effects of sources of pollution such as boiler’s exhaust gas, wastewater treatment stations, solid waste and waste oil storage area, sanitary facilities and other sources of pollution;  factory must be designed on a one-way rule from in-coming raw material all the way to the final product as vegetable oil product. Besides, the factory must have ventilation system; steam, heat and compressed air supply system; waste, wastewater and exhaust gas collection and treatment system and stores….