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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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* From June 02, to publish the tax refund to taxpayers |
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FINANCE – BANKING |
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FINANCE – BANKING |
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Decree No. 45/2017/ND-CP dated April 21, 2017 of the Government on detailing the formulation of five-year finance plans and three-year finance-state budget plans |
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* Regulations on the formulation of finance and finance-state budget plans |
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Directive No. 13/CT-TTg dated April 04, 2017 of the Prime Minister on increasing the use of domestically produced supplies and commodities during the bidding process for state-funded capital investment projects and recurring purchase |
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* Prohibited to intentionally exclude contractors from access to these incentives |
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CONSTRUCTION |
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CONSTRUCTION |
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* Determination of costs associated with construction planning |
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AGRICULTURE - FOREST |
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AGRICULTURE – FOREST |
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Decree No. 40/2017/ND-CP dated April 05, 2017 of the Government on management of salt production and trading |
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* Many tax incentives for salt production |
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SUMMARY:
Ü TAX – FEE – CHARGE
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This is the content prescribed at the Circular No. 31/2017/TT-BTC on mending and supplementing a number of articles of the Ministry of Finance’s Circular No. 99/2016/TT-BTC of June 29, 2016, guiding the management of value-added tax refund, takes effect on June 02, 2017. In particular, beside some other regulations on time of receiving tax refund dossiers; time of receiving written explanations or additional information and documents from taxpayers; time of issuing tax offices’ notices and decisions |
on settlement of tax refund requests; from June 02, 2017, the Tax offices shall publish on the General Department of Taxation’s e-portal information on time of the State Treasury’s payment of tax refund to taxpayers. Another important content is the regulations on shortening the time of tax refund. Refund tax to the taxpayer within 1 (one) working day after receiving the order of state budget revenue refund/order of state budget revenue refund and clearing from the tax office, within that, the maximum time for tax refund is 03 working days in previous regulations |
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Ü FINANCE - BANKING
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On April 21, 2017, the Government issued the Decree No. 45/2017/ND-CP detailing the formulation of five-year finance plans and three-year finance-state budget plans. In accordance with the regulations in this Decree, the Ministry of Finance shall assume the prime responsibility for, and coordinate with the Ministry of Planning and Investment and related ministries and central agencies in, formulating national five-year finance plans and reporting them to the Government for submission to the National Assembly for consideration and decision. Provincial-level People’s Committees shall direct provincial-level Finance Departments to assume prime responsibility for, and coordinate with provincial-level Planning and Investment Departments and other related local agencies in, formulating provincial-level five-year finance plans and reporting them to provincial-level People’s Councils for consideration and decision. Within that, the Contents of a national five-year finance plan includes the content such as determination of overall objectives of the five-year finance plan; determination of the state budget balance; debt management indicators; forecasts about risks that might affect the state budget |
balance and debt management indicators and other financial solutions to ensuring the implementation of the national five-year finance plan… The Ministry of Finance shall assume the prime responsibility for, and coordinate with the Ministry of Planning and Investment in, summarizing national three-year finance-state budget plans and reporting them to the Government for submission to the National Assembly for reference during the discussion, consideration and approval of annual state budget estimates and central budget allocation plans. Provincial-level Finance Departments shall assume the prime responsibility for, and coordinate with provincial-level Planning and Investment Departments in, summarizing provincial-level three-year finance-state budget plans and reporting them to provincial-level People’s Committees for submission to provincial-level People’s Councils for reference during the discussion, consideration and approval of annual local budget estimates and allocation plans. This Decree takes effect on June 5, 2017, and applies from the 2017 budgetary year. |
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In order to promote the production and consumption of domestically produced supplies and commodities, help businesses, domestically produced goods and services enhance their competitiveness against integration pressure when implementing international commitments…on April 04, 2017, the Prime Minister issued the Directive No. 13/CT-TTg on increasing the use of domestically produced supplies and commodities during the bidding process for state-funded capital investment projects and recurring purchase. At the Directive, the Prime Minister emphasizes that The slicing of bid packages under state-funded projects, schemes, programs (hereinafter referred to as projects) or cost estimates for state-funded recurring purchase must comply with the principle of slicing of bid packages according to the law on bidding, correspond to the capacity of domestic contractors and ensure maximum competitive conditions for domestic enterprises to win contracts and create jobs for domestic laborers. International bidding may |
be held only when domestic producers are unable to manufacture or able to do so but fail to conform to the specified requirements of quality, quantity and price of commodities, supplies and equipment or the request of donors on procurement of these items for contracts as part of projects financed… Particularly, the slicing of a procurement project or plan into different bid packages in contravention of the law on bidding for the purpose of restricting domestic contractors to bid is strictly prohibited; Investors and bid solicitors arc prohibited from compiling invitation for bid or request for proposal that allow employment of foreign workers when domestic workers are capable of meeting the requirements of bid package implementation, especially manual jobs; It is prohibited to specify origin, brand and catalog of specific goods for reference or illustration in the invitation for bid or request for proposal when it is possible to give the detailed description of their technical features, technology design and technology standard… |
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Ü CONSTRUCTION
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On April 05, 2017, the Ministry of Construction issued the Circular No, 05/2017/TT-BXD guiding determination and management of costs associated with construction planning and urban planning, prescribing that the costs associated with construction planning and urban planning shall be calculated accurately and sufficiently and in conformity with characteristics, nature, and requirements pertaining to each kind of planning work. The cost to be determined according to cost standards associated with making construction plan and urban plan (hereinafter referred to as making plan) quoted in this Circular shall include expenses deemed necessary to make the plan. VAT shall be included in the cost associated with making the plan according to prescribed cost standards, In |
case of making comprehensive adjustment is necessary but the range of adjustment does not exceed the scope of area and population size of the approved plan, the cost associated with adjusting the regional construction plan, urban master plan, and urban detailed plan must not exceed 70% of the cost associated with making a corresponding new plan; the cost associated with adjusting urban zoning must not exceed 50% of the cost associated with making a corresponding new plan. If the range of adjustment exceeds the scope of area and population size of the approved plan, the maximum cost amount associated with adjusting the plan shall not exceed 100% of cost associated with making a corresponding new plan. This Circular takes effect on June 01, 2017 |
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Ü AGRICULTURE - FOREST
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On April 05, 2017, the Government issued the Decree No. 40/2017/ND-CP on management of salt production and trading; within that, prescribing policies to encourage salt production and trading development. In particular, investors in salt production and trading, services auxiliary to salt production, or salt storage warehouses are entitled to trade credit, investment credit and credit for policy beneficiaries; Projects which are on the list of those entitled to loan provision and eligible for state investment credit may be considered for borrowing loans from the Vietnam Development Bank according to regulations. Salt production and trading individuals and households are entitled to borrow preferential loans from the Vietnam Bank for Social Policies in accordance with current regulations of the State. At the same time, investors in salt storage warehouses, salt production machinery and equipment or salt processing and |
equipment lines are entitled to support for 100% of loan interest in the first two years and 50% of loan interest in the third year on maximum loans equaling the value of investment in salt production equipment; the difference between the interest rate of state development investment credit and the interest rate of Vietnam-dong medium- and long-term commercial loans borrowed to implement investment projects on salt processing lines and equipment for maximum loans equaling 70% of the projects’ value for a term not exceeding 12 years… Within that, owners of investment projects in salt production and trading according to value chains are entitled to 70% of expenses for domestic training. Each laborer is entitled to training support once for 6 months at most. The maximum support level is VND 1 billion for each investor in salt production or processing or each to-be-trained laborer. This Decree takes effect on May 20, 2017. |
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