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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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Decree No. 49/2016/ND-CP dated May 27, 2016 of the Government on amending and supplementing a number of articles of the Government’s Decree No. 109/2013/ND-CP dated September 24, 2013 on penalties for administrative violations against regulations on management of prices, fees, charges and invoices |
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* Ordering of invoice printing without signing contracts shall be fined to VND 1.5 million |
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INSURANCE |
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INSURANCE |
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Decision No. 636/QD-BHXH dated April 22, 2016 of the Vietnam Social Insurance on issuing the Regulations on dossier and procedures for settlement of social insurance benefits |
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* Dossier for settlement of social insurance benefits |
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FINANCE - BANKING |
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FINANCE - BANKING |
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Circular No. 09/2016/TT-NHNN dated June 17, 2016 of the Vietnam State Bank amending, supplementing a number of articles of the Circular No. 31/2012/TT-NHNN dated November 26, 2012 of the State Bank Governor stipulating on Cooperative Bank |
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* Regulations on operation of the Cooperative Bank |
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Directive No. 04/CT-NHNN dated May 27, 2016 of the State Bank of Vietnam on a number of solutions for management of monetary policies and banking operations in the last months of 2016 |
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* Solution for management of monetary policies in the last 6 months of 2016 |
Page 3 |
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TRANSPORT |
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TRANSPORT |
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Decree No. 46/2016/ND-CP dated May 26, 2016 of the Government on administrative penalties for road traffic offences and rail transport offences |
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* From August 01, driver who is drunk shall be fined to VND 18 million |
Page 4 |
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SUMMARY:
Ü TAX - FEE - CHARGE
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In accordance with the Decree No. 49/2016/ND-CP dated May 27, 2016 of the Government on amending and supplementing a number of articles of the Government’s Decree No. 109/2013/ND-CP dated September 24, 2013 on penalties for administrative violations against regulations on management of prices, fees, charges and invoices, from August 01, 2016, ordering of invoice printing without signing contracts shall be fined from VND 500,000 to VND 1.5 million instead of previous regulations that the fine from VND 2 million to 4 million. Also from August 01, 2016, a fine of from VND 2 million to VND 4 million shall be imposed for ordering of invoice printing although the tax agency has informed in writing that the entity/enterprise is unqualified to make order of invoice printing, except for the cases where the tax agency does not give a written notice upon the receipt of the application for use of printed invoices submitted by relevant entity/enterprise. Besides, the Decree also supplements the fine for losing, giving or selling receipts of fees and charges. In particular, with regard to the loss of a receipt of fees/charges with the face value printed, the maximum fine shall be equal to the face value printed in such receipt of fees/chares. The minimum fine imposed for the loss of receipts of fees/charges with the face value printed shall be VND 50,000. |
In particular, from August 01, 2016, individual fails to give a written notice of increased or decreased prices to competent state agencies in cases where the notice of prices must be performed as regulated by the pricing law, apply the declared or registered prices with the period as regulated by the pricing law from the date on which the price registration or declaration is carried out at the competent state agencies shall have fine of from VND 3, million to VND 5 million. Individual fails to submit the price declaration form within the regulated period specified in the written request of competent state agency; carry out the declaration of price decreases in conformity with the decrease of prices of price forming elements at the written request of competent state agency shall have fine of from VND 5 million to VND 10 million. Failure to carry out the price registration with competent state agencies shall be fined from VND 10 million to VND 30 million depending on price declaration and registration failed in price registration. Within that, the highest fine of from VND 25 million to VND 30 million shall be imposed for failure to register prices of 21 items of goods or services for which the prices must be registered as regulated, or above, if this violation is committed or repeated in multiple times. The Decree takes effect on August 01, 2016. |
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Ü INSURANCE
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On April 22, 2016, The Vietnam Social Insurance issued Decision No. 636/QD-BHXH on issuing the Regulations on dossier and procedures for settlement of social insurance benefits for the employees and the employers participating in compulsory social insurance, the participants of compulsory social insurance and the employees’ relatives participating in compulsory social insurance and relatives of participants of compulsory social insurance. The most important regulation in this Decision is about dossier for settlement of social insurance benefits. In particular, dossier for sickness benefits includes: Certificate of discharge of the employees or their children are hospitalized for treatment or certificate of leave entitled to social insurance allowance if the employees or their children are not hospitalized for treatment or certificate of leave if both mother and mother take leave for caring their children. If the employees or their children go abroad for their healthcare, the dossier hereof is replaced by the certified Vietnamese translation of certificate of health checkup issued by the medical facility of the foreign country. Dossier for monthly pension contains: Social insurance book; Decision on |
resignation entitled to the retirement benefits; Examination record of reduced work capacity of the medical examination Council (the original) or Certificate of severe disability or Certificate of particularly severe disability for the retired persons due to reduced work capacity; Certificate of HIV/AIDS infection due to occupational accident of the competent body for the persons retired due to HIV/AIDS infection due to occupational accident. For the participants of voluntary social insurance, the persons reserving the time of participating in social insurance, dossier includes: Social insurance book; Application under the Form No. 14-HSB; Examination record of reduced work capacity of the medical examination Council (the original) or Certificate of severe disability or Certificate of particularly severe disability for the retired persons due to reduced work capacity; Written authorization for person who is serving the prison term and the time to begin serving the prison term from January 01, 2016 onwards; Certificate of completion of prison term or certificate of special reprieve ahead of time or decision on remission of sentence or temporary reprieve for person who started their sentence during the time from January 01, 1995 to December 31, 2015… This Decision takes effect on June 01, 2016. |
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Ü FINANCE - BANKING
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On June 17, 2016, the State Bank of Vietnam issued the Circular No. 09/2016/TT-NHNN on amending, supplementing a number of articles of the Circular No. 31/2012/TT-NHNN dated November 26, 2012 of the State Bank Governor stipulating on Cooperative Bank; within that the most important content on operations for Member People’s Credit Funds. Accordingly, beside to receive deposit of capital allocation, lend capital allocation for Member People’s Credit Funds according to Regulations on capital allocation, the Cooperative Bank shall lend Member People’s Credit Funds to deal with temporary difficulties on payment; to open payment account, provide means of payments for Member People’s Credit Funds; to build, develop and apply new products, services in the operation of Member People’s Credit Funds to meet demands of members in People’s Credit Funds and develop benefits of the People in the area. |
On the rights of the Cooperative Bank for People’s Credit Funds, the Circular annuls the rights to receive the audit, guidance and audit support for Member People’s Credit Funds, to raise opinions in writing for tentative list of participants that are elected to be as a chair or other members of Management Board, heads and other member of control board, Directors of Member People’s Credit Funds when being requested by the State Bank’s branches in provinces and cities under the central management. Therefore, from August 15, 2016, the Cooperative Bank is only allowed to access to informatics system of the State Bank to collect information related to operation of People’s Credit Funds; request People’s Credit Funds to provide the report to serve for capital allocation and inspect safety of the system; examine, inspect the use of the loan and the ability of People’s Credit Funds to pay for the loan at Cooperative Bank. This Circular takes effect on August 15, 2016. |
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The State Bank of Vietnam issued Directive No. 04/CT-NHNN on May 27, 2016 on a number of solutions for management of monetary policies and banking operations in the last months of 2016, requested the affiliates of the State Bank to follow closely development of macroeconomics, monetary and banking operations to manage monetary policy tools comprehensively and flexibly; mainly regulate open market operations, refinance with reasonable terms, amount and interest rates to support the liquidity and capital to credit institutions provided taking account of ensuring the objective for inflation control… For the credit institutions, shall actively keep balance between capital sources and capital use to ensure liquidity, stable deposit rates, with conditions for lending rates; focus on management of liquidity risks, risks of differences in |
terms and currencies, and safe operation of credit institutions; review and keep balance of the financial capacity to apply reasonable lending rates on the basis of deposit rates and the risk levels of loans; implement reduction in operational costs and improve business efficiency to reduce lending rates in order to share difficulties with the borrowers as long as financial safety is guaranteed… Besides, credit institutions shall control credit growth in line with the ability to mobilize capital and credit growth targets notified by the State Bank, ensure that credit will grow safely and efficiently which enables enterprises to access to loan capital; and strictly control loans in areas potentially posing risks… |
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Ü TRANSPORT
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On May 26, 2016, the Government issued Decree No. 46/2016/ND-CP on administrative penalties for road traffic offences and rail transport offences; increased the fine upon many violations against traffic rules. In particular, a fine of VND 16 million - VND 18 million shall be imposed upon a driver who operates the vehicle while BAC exceeds 80mg per 100ml of blood or BrAC exceeds 0.4mg per liter of breath; disobeys traffic conductor’s or law enforcement officer’s order for alcohol testing; meanwhile a fine with these violations according to the previous provision was from VND 16 million - 15 million. A fine imposed upon a vehicle operator who doesn’t stop, protect the scene, inform the authority, or give first aid to the victim after causing an accident also increased from |
VND 2 million - VND 3 million to VND 5 million - VND 6 million… Especially, person who use an umbrella or cell phone or audio device other than hearing aid devices while operating mopeds and motorcycles shall be fined from VND 100,000 - VND 200,000 instead of a fine from VND 60,000 - VND 80,0000 as before. Individual operates mopeds and motorcycles who fails to keep the vehicle to the right; go in the wrong lane or on the sidewalk unless for entering a house shall be fined from VND 300,000 - VND 400,000, while the previous fine was VND 200,000 - VND 400,000… This Decree takes effect on August 01, 2016. |
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