Legal Document Updates in English (20/2019)

REIMBURSE THE ASSET VALUATION EXPENSE WITHIN 60 DAYS
 

On February 20, 2019, the Ministry of Finance issues the Circular No. 10/2019/TT-BTC guiding the valuation of assets formed by science and technology tasks using central capital.

Accordingly, the payment of asset valuation expenses is as follows:

- For assets associated with decisions on ownership transfer: expenditure for payment of asset valuation expenses shall be disbursed from revenues from the transfer of asset ownership. In cases where the settlement of assets does not generate revenue or the revenue is not enough to offset the expenses, the deficit part shall be finalized and paid by the funding source of the agencies in charge of managing scientific and technological tasks.


 

- For assets associated with decisions on the right to use:

+ The agencies in charge of managing scientific and technological tasks shall pay asset valuation expenses and at the same time, send a dossier requesting agencies, organizations and individuals to receive the right to use those assets to reimburse the asset valuation expenses;

+ Within 60 days from the date of receipt of the dossier requesting the reimbursement of the asset valuation expenses, the entitled agencies, organizations or individuals shall reimburse the asset valuation expenses to the management agencies of science and technology tasks.

Besides, the Circular also prescribes on expenses for investment research assets and method of asset valuation…

This Circular takes effect on April 06, 2019.

06 CASES OF REGISTRATION OF
 SECURITY INTERESTS IN AIRCRAFT OR SEAGOING SHIPS
 

On January 17, 2019, the Ministry of Justice the Circular No. 01/2019/TT-BTP on guiding a number of provisions on the registration of security interests in aircraft or seagoing ships.

Accordingly, there are 06 cases of registration of security interests in aircraft or seagoing ships. To be specific, they are:

- Pledge or mortgage of aircraft; mortgage of seagoing ships;

- Title retention in case of purchase and sale of aircraft or seagoing ships with title retention;

- Change of registered security interests in aircraft or seagoing ships;

- Correction of errors in registered security interests in aircraft or seagoing ships made by registries;

- Registration of written notices of disposal of collaterals being aircraft or seagoing ships in case the pledge or mortgage thereof has been registered…

The registration request must bear the signature and seal of one of the parties participating in the security interest in aircraft or seagoing ship or person authorized by the parties, except the case of deregistration of the security interest;

In case of deregistration of the security interest in aircraft or seagoing ship, deregistration request must bear signatures of the secured party and asset seller. In case deregistration request bears no signatures of the secured party and asset seller, deregistration dossier must have written consents of deregistration of the security interest given by the secured party and asset seller.

This Circular takes effect on March 3, 2019.

PARTICIPANTS IN UNDERWATER RECREATION
AND ENTERTAINMENT ACTIVITIES TAKE RESPONSIBILITY FOR THEIR OWN HEALTH
 

Participants in underwater recreation and entertainment activities must wear life jackets during the time they participate in underwater recreation and entertainment activities and take responsibility for their own health when participating in underwater recreation and entertainment activities is a provision in the Decree No. 48/2019/ND-CP on June 05, 2019.

Accordingly, underwater recreation and entertainment facilities are ships, boats or other floating structures used for underwater recreation and entertainment activities with a capacity of carrying no more than 5 persons and operating in the areas approved or published by competent state agencies (hereinafter called as facilities).

SELLING GOODS IN WRONG PRICE
 IN TOURIST ACCOMMODATION ESTABLISHMENT SHALL BE FINED UP TO VND 10 MILLION
 

This regulation is described in the Decree No. 45/2019/ND-CP dated May 21, 2019 of the Government on penalties for administrative violations in tourism.

This Circular states that the maximum penalties for administrative violations is VND 50 million in case of individuals or up to VND 100 million in case of organizations.

In case tourist accommodation establishment fail to describe the prices of goods and services publicly as prescribed, the punishment may reach up to VND 1,000,000. Particularly, if the tourist accommodation establishment sales goods in a higher price than the described price, they may be fined from VND 5 to 10 million.

of operation for 1 to 3 months and enforced to transfer of the profits earned from administrative violations.

Violations against regulations on minimum conditions for tourist accommodation infrastructure and services such as: failure to furnish face towels or bath towels as prescribed; failure to change bed sheets or mats or blanket covers or cushion covers upon receipt of new guests also can be fined up to VND 3 million.

For tourist guider wearing no tour guide badge while leading tourists or using counterfeit tour guide badge while leading tourists can be charged from VND 15 to 20 million.

TO PROPOSE SPECIAL CONSUMPTION TAX RATES FOR GOLFERS
 

Directive No. 09/CT-TTg on centralized solutions for production and business, thereby assuring growth targets for the second half and the entire year of 2019 issued by the Prime Minister on April 01, 2019.

To be specific, the Prime Minister requires the Ministers and Head of Ministerial Agencies to focus on instruction for synchronize and effective implementation of the following specific objectives, tasks and solutions such as:

 TO PRIORITIZE THE OF DOMESTIC ENTERPRISES’ SERVICES
MEETING THE REQUIREMENTS OF NETWORK SAFETY
 

Directive No. 14/CT-TTg on enhancing network security to improve Vietnam's ranking index is issued by the Prime Minister on June 07, 2019.

To ensure network security and safety to overcome the above-mentioned shortcomings and limitations, contributing to improving Vietnam's ranking in GCI, the Prime Minister requires Ministries, ministerial-level agencies, Government-attached agencies, People's Committees of provinces and municipalities, State-owned corporations and commercial banks to conduct a number of solutions as follow:

provisions for level 3 or higher-level information systems and e-Government information systems;

CHANGE IN ORGANIZATIONAL STRUCTURE
OF THE OVERSEA VIETNAMESE COMMITTEE
 

On February 18, 2019, the Prime Minister issues the Decision No. 11/2019/QD-TTg on defining the functions, tasks, powers and organizational structure of the Oversea Vietnamese Committee affiliated to the Ministry of Foreign Affairs.

Relationship Department; Legislation and Inspection Department; Office Division; Quê Hương Magazine. The Office Division shall be organized with 05 rooms.

Also regulated in this Circular, The Committee shall be organized with Chairman and no more than 04 Vice Chairman. Vice Chairmen of the Committee are appointed and dismissed by the Minister of Foreign Affairs at proposal of the Chairman and they shall take the prime responsibility before the Chairman on assigned task.