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In This Updates: |
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TAX – FEE – CHARGE |
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TAX – FEE – CHARGE |
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1 |
Circular No. 03/2017/TT-BCT dated March 03, 2017 of the Ministry of Industry and Trade prescribing principles of regulation of import tariff quotas for salt and poultry eggs in 2017 |
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* In 2017, Vietnam imports more than 50.000 dozens of poultry eggs |
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FINANCE – BANKING |
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FINANCE – BANKING |
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* The maximum state investment loan for a project is 70% |
Page 2 |
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Decree No. 25/2017/ND-CP dated March 14, 2017 of the Government on state financial reports |
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* Disclosure of the state financial reports is compulsory |
Page 2 |
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EXPORT – IMPORT |
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EXPORT - IMPORT |
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Decision No. 15/2017/QD-TTg dated May 12, 2017 of the Prime Minister on the List of imported goods required to follow customs procedures at the port of entry |
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* 17 imported goods required to follow customs procedures at the port of entry |
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CONSTRUCTION |
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CONSTRUCTION |
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Circular No. 04/2017/TT-BXD dated March 30, 2017 of the Ministry of Construction on occupational safety management in the execution of construction works |
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* Public inspector’s information on the website of the Ministry of Construction |
Page 3 |
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SUMMARY:
Ü TAX – FEE – CHARGE
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On March 03, 2017, the Ministry of Industry and Trade issued the Circular No. 03/2017/TT-BCT on prescribing principles of regulation of import tariff quotas for salt and poultry eggs in 2017. This Circular also shows that the Ministry of Industry and Trade still remains import tariff quotas in 2017 for salt as in 2016 with the amount of 102,000 tons; within that, to increase the import tariff quotas of Commercial eggs (Chicken eggs, Duck and Muscovy, duck eggs and others) to 50,051 dozens instead of 48,620 dozens as in 2016. |
Import tariff quota for salt shall be allocated to traders that directly use salt as a material for manufacturing chemicals, medicines and medical products. Import tariff quota for poultry eggs shall be allocated to traders that possess business registration certificate/enterprise registration certificate and need to import this commodity. This Circular takes effect on April 17, 2017 to December 31, 2017. |
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Ü FINANCE – BANKING
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Takes effect on May 15, 2017, the Decree No. 32/2017/ND-CP dated March 31, 2017 of the Government on state investment credit, prescribing that the maximum state investment loan for a project is 70% of the total investment capital of such project (excluding liquid capital). Also in accordance with this Decree, the total outstanding loan balance of the Vietnam Development Bank (including state investment loans) for a borrower, and for a borrower and its affiliated persons, except for special projects decided by the Prime Minister, must not exceed 15% and 25% of the Bank’s equity capital, respectively. On loan terms, loan terms shall be determined according to the capital recoverability of projects and debt payment ability of |
borrowers to suit production or business characteristics of projects but must not exceed 12 years. Particularly for group-A investment projects, the maximum loan term is 15 years. When borrowing state investment loans for investment in projects, borrowers shall provide loan security at the Vietnam Development Bank. When borrowing state investment loans for investment in projects, borrowers shall provide loan security at the Vietnam Development Bank. The overdue debt interest rate for a project shall be considered and decided by the Vietnam Development Bank but must not exceed 150% of the undue loan interest rate. |
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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 financial reports and agencies, units and organizations tasked to provide information for compilation of state financial reports, including the Ministry of Finance; State treasuries at all levels; State budget management, collection and payment agencies at all levels; State property and capital management agencies at all levels; State budget-funded agencies and organizations; agencies and organizations managing non-budget state financial funds; Public non-business units. Besides, the Government also emphasizes that Provincial-level People’s Committees shall disclose provincial state financial reports within 30 days after these reports are presented before provincial-level People’s Councils; the |
Ministry of Finance shall disclose national state financial reports within 30 days after these reports are presented before the National Assembly. State financial reports shall be disclosed in one or some of the following forms: publication distribution, posting up and publishing on e-portals and other forms. Contents to be disclosed include information of provincial state financial reports, including the state property situation; debts of local administrations and other payables of the State; funds of the State; revenues, expenditures and financial operation results of the State; the state cash flow within their provinces; except for detailed statistics in the fields of national defense, security and national reserves; The Ministry of Finance shall disclose information of national state financial reports, including the state property; public debts and other payables of the State; funds of the State; revenues, expenditures and financial operation results of the State; the state cash flow nationwide; except for detailed statistics in the fields of national defense, security and national reserves. This Decree takes effect on January 01, 2018. |
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Ü EXPORT - IMPORT
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On May 12, 2017, the Prime Minister issued the Decision No. 15/2017/QD-TTg on the List of imported goods required to follow customs procedures at the port of entry. The List includes 17 imported goods required to follow customs procedures at the port of entry such as Cigarette, cigar and other tobacco-based products used for smoking, sniffing, chewing, snuffing or sucking; Liquor ; Beer; Motor vehicles for the transport of fewer than 16 persons; Motorbikes, three-wheel motorcycles with cylinder capacity of over 125cm3 ; Aircraft, yachts; Petrol of all kinds; Air conditioners of up to 90,000 BTU; Playing cards; Votive papers; Commodities on which safeguard tax, antidumping tax, or countervailing tax is imposed under regulations by Ministry of Industry and Trade… Particularly, customs procedures for equipment, machinery and/or supplies, which are imported to construct a factory or building, may be completed at customs authority at the |
place where such factory or building, or its warehouse is located; Customs procedures for raw materials, supplies, equipment, machinery, accessories and spare parts, which are imported to serve processing and manufacturing operations, may be completed at customs authority at the place where the production workshop or factory is located; Customs procedures for commodities which are temporarily imported for fair, exhibition or product launch events may be completed at the customs authority at the place where such fair, exhibition or product launch events are organized; Customs procedures for commodities which are imported for sales at a duty-free shop may be completed at the customs authority in charge of managing such duty-free shop; customs procedures for commodities transited in one container to a container-freight station may be completed at customs authority in charge of managing such container-freight station… This Decision takes effect on July 01, 2017. |
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Ü CONSTRUCTION
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In accordance with the Circular No. 04/2017/TT-BXD dated March 30, 2017 of the Ministry of Construction on occupational safety management in the execution of construction works, the information including the full name; the identification number of the inspector; and ID card number; the list of machines, equipment and materials that are granted the Certificate of eligibility; the issuance date and the expiration date of the Certificate of inspector; the violations committed by the inspector (if any) shall be public in the website of the Ministry of Construction. Similarly, the published information about the organization issued the Certificate of eligibility contains the name, address and identification number of the inspecting organization; the list of machines, equipment and materials |
that are granted the Certificate of eligibility; the issuance date and the expiration date of the Certificate of eligibility; the violations committed by the inspecting organization (if any). Besides, the Circular also prescribes the responsibilities of employees in the work site. Accordingly, the employees have rights to refuse to carry out any task that he/she considers risky but the risk is not dealt with after it is reported to the responsible person or without sufficient personal protective equipment; only carry out the tasks subject to strict occupational safety and hygiene requirements after being trained and given the occupational safety and hygiene card. This Circular takes effect on May 15, 2017. |
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