Legal Document Updates in English (24/2018)

FROM JULY 01, PENSION AND MONTHLY ALLOWANCE INCREASE BY 6.92%
 

On June 15, 2018, the Government issues the Decree No.  88/2018/ND-CP on adjustments of retirement pensions, social insurance allowances and monthly allowances.

Accordingly, from July 01, 2018, the amount of pension, social insurance allowance and monthly allowance increases by 6.92% compared to June 2018 for such entities as follow:

- Public officials, public employees and workers; soldiers, people’s police and cipher officers who are on monthly retirement pensions;

- Officers of communes, wards and commune-level towns who are on monthly retirement pensions and allowances;

LAND RENT EXEMPTION WITH AUXILIARY INDUSTRIAL PARKS
 

On May 22, 2018, the Government issues the Decree No. 82/2018/ND-CP on management of industrial parks and economic zones.

Accordingly, the provincial People’s Committee shall issue the decision on establishment of industrial parks and expanded industrial parks after competent authorities issue decision on approval of the industrial park construction planning; certificate of investment registration (or Decision on investment policy).

With regards to economic zones, the Prime Minister shall have authority to grant a decision on establishment or expansion of economic zones. Within duration of 45 business days of receipt of valid documentation, the Ministry of Planning and Investment makes a consolidated

PROHIBIT BANK FROM PURCHASING CORPORATE BONDS
TO RESTRUCTURE DEBTS OF ENTERPRISE
 

The State Bank of Vietnam issues the Circular No. 15/2018/TT-NHNN on June 18, 2018 n amending the Circular No. 22/2016/TT-NHNN dated June 30, 2016 of the State Bank of Vietnam on purchase of corporate bonds by credit institutions and branches of foreign banks.

This Circular prescribes credit institutions and branches of foreign banks are not allowed to purchase corporate bonds issued for the purpose of restructuring debts of the issuer. This Circular also annul provision on types of bonds which enterprise are allowed to purchase.

4 CASES IN WHICH PROOF OF ORIGIN IS NOT REQUIRED
 

The Circular No. 38/2018/TT-BTC on regulations on identification of origin of imported and exported goods is issued on April 20, 2018 by the Ministry of Finance.

Accordingly, there are 4 cases in which proof of origin is not required, including:

- Exported goods;

- Imported goods not prescribed in Article 4 of this Circular;

- Imported goods falling in categories of exemption from submission of proof of origin in accordance with International Agreements to which Vietnam is a signatory;

- The customs declarant requests the submission of proof of origin of goods at the time of customs processing is

CARS WITH FIXED SCHEDULE ONLY HAVE
TO SUBMIT CUSTOMS DECLARATION ONCE PER 30 DAYS
 

A number of the Articles of the Decree No. 08/2015/ND-CP dated January 21, 2015 of the Government providing specific provisions and guidance on enforcement of the customs law on customs procedures, inspection, supervision and control procedures are amended at the Decree No. 59/2018/ND-CP dated April 20, 2018 by the Government.

If the transports conveying passengers have a fixed schedule or regularly exit or enter the same port according to the intermodal transportation permit, then the drivers are required to submit customs declaration only once within 30 days. Other outgoing and incoming period shall be updated to the book or the system by the customs authority and this authority shall also liquidate the customs declaration for the last re-export or re-import.

THE MAXIMUM VALUE OF PROMOTIONAL PRODUCT
IN SALE SEASON SHALL BE 100%
 

On May 22, 2018, the Government issues the Decree No. 81/2018/ND-CP on detailing the regulations of Commercial Law on trade promotion. This Decree takes effect on July 15, 2018.

Accordingly, money can also be used as promotional merchandise, except for sales promotion conducted in the forms: Provision of sample goods or services free of charge; Sale of goods or provision of services at discounted prices during the announced period of sales promotion; Sale of goods or provision of services together with coupons.

The promotional value of a unit of promoted product must not exceed 50% of the price of such promoted product unit before the promotion.

FINE UP TO VND 5 MILLION WITH FACILITY FAILURES
TO KEEP ANIMAL FEEDS SEPARATE FROM FERTILIZERS
 

On May 07, 2018, the Government issues the Decree No. 64/2018/ND-CP on penalties for administrative violations against regulations on livestock breeds, animal feeds and aqua feeds, specifically:

- A fine ranging from VND 2, million to VND 3 million shall be imposed for a facility trading in animal and aqua feeds for failure to have equipment and instruments to preserve animal and aqua feeds under the instructions of manufacturers or distributors; failure to adopt solutions for avoiding rodent, bird and other harmful animal infestation;

- A fine ranging from VND 3 million to VND 5 million shall be imposed upon a facility trading in animal and aqua feeds

BY 2025, 100% HOUSEHOLDS IN AREAS FREQUENTLY HIT
BY NATURAL DISASTER HAVE SAFE RESIDENCES
 

This is one of the goals set by the Government at the Resolution No. 76/NQ-CP dated June 18, 2018 on natural disaster prevention and fighting.

In this Resolution, the Government considers that natural disasters develop in a more and more complicated and unforeseeable manner, caused heavy losses in human lives, property and infrastructures (with the estimated annual loss of 1.0- 1.5% GDP). Concurrently, sets some specific objectives towards 2025:

- To provide safe residences for 100% households in densely populated areas frequently hit by natural disasters;

- To reduce human loss by 30%, caused by the types of natural disasters of intensity and scale equivalent to those in the 2015-2020 period;