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In This Updates:
LABOR - SALARY
LABOR - SALARY
Official Dispatch No. 2588/BHXH-QLT dated June 27, 2022 of Hanoi Social Security on notifying the wage levels as the basis for payment of social insurance, health insurance, unemployment insurance and occupational accident and disease insurance from July 01, 2022
Hanoi: Employers are not allowed to cut wage-based allowances payable to employees working overtime
Law No. 08/2022/QH15 dated June 16, 2022 of the National Assembly on insurance business
From January 01, 2023, insurance enterprises may not conduct in real estate business
FINANCE – BANKING
FINANCE – BANKING
Circular No. 09/2022/TT-NHNN dated July 12, 2022 of the State Bank of Vietnam guiding the foreign exchange management of the business of prize-winning video games for foreigners
Tokens used in the business of prize-winning video games for foreigners
NATURAL RESOURCES - ENVIRONMENT
NATURAL RESOURCES - ENVIRONMENT
Decree No. 45/2022/ND-CP dated July 07, 2022 of the Government providing penalties for administrative violations against regulations on environmental protection
From August 25, households failing to classify domestic solid wastes shall be fined up to VND 1 million
Decree No. 47/2022/ND-CP dated July 19, 2022 of the Government amending and supplementing a number of articles of the Government’s Decree No. 10/2020/ND-CP dated January 17, 2020, providing by-automobile transport business and its conditions
Amend provisions on by-automobile transport business
Ü LABOR - SALARY
HANOI: EMPLOYERS ARE NOT ALLOWED TO CUT
WAGE-BASED ALLOWANCES PAYABLE TO EMPLOYEES WORKING OVERTIME
The Official Dispatch No. 2588/BHXH-QLT on notifying the wage levels as the basis for payment of social insurance, health insurance, unemployment insurance and occupational accident and disease insurance from July 01, 2022 is issued on June 27, 2022 by Hanoi Social Security.
According to this Official Dispatch, employers in Hanoi are not allowed to neither abolish nor cut wage-based allowances payable to employees who work overtime, work overtime at night, or benefits in kind and other entitlements in accordance with labor law regulations.
Agreed contents or commitments in labor contracts, labor agreements or other legal agreements, that bring more benefits for employees compared to provisions provided in Decree No. 38/2022/ND-CP, shall continue to be implemented, including the provisions that the level of wage to be paid to an employee performing a job
which requires trained employees that is at least 7% higher than the minimum wage level shall continue to be implemented, unless otherwise agreed by both parties.
The wage level for payment of social insurance, health insurance, unemployment insurance and occupational accident and disease insurance must be adjusted according to regulations before July 25, 2022. Past the above time limit, for cases where the unit has not yet requested to adjust the wage according to the region-based minimum wage, the social insurance agency will temporarily adjust the salary for payment of social insurance, health insurance, unemployment insurance and occupational accident and disease insurance by the region-based minimum wage for employee who performs the simplest job until the unit prepares an adjustment file according to regulations.
FROM JANUARY 01, 2023, INSURANCE ENTERPRISES
MAY NOT CONDUCT IN REAL ESTATE BUSINESS
This highlight content is prescribed by the National Assembly in the Law on Insurance Business No. 08/2022/QH15 dated June 16, 2022.
Accordingly, insurance enterprises, reinsurance enterprises and Vietnam-based foreign branches are not allowed to conducting real estate business, except for the case of purchasing stocks of a real estate enterprises listed on the securities market, fund certificates of public funds, etc.
Besides, insurance enterprises are not allowed to conduct real estate business, except for the case of purchasing, investing or owning real estates for use as business headquarters, workplace or warehouses directly serving professional operations; leasing unused business
headquarters under the ownership or use right; holding real estate due to the handling of bonds secured by real estate, due to the clearing of debts with real estate within 3 years from the date of holding.
In addition, from January 01, 2023, insurance enterprises and branches of foreign non-life insurance enterprises shall stop paying the fund for protection of the insured. The entire balance of the fund for protection of the insured shall be managed by the Ministry of Finance to be used for the purpose of protecting the interests of the insured in cases an insurance enterprise becomes insolvent or goes bankrupt.
This Law takes effect on January 01, 2023.
Ü FINANCE – BANKING
TOKENS USED IN THE BUSINESS OF PRIZE-WINNING VIDEO GAMES FOR FOREIGNERS
The Circular No. 09/2022/TT-NHNN guiding the foreign exchange management of the business of prize-winning video games for foreigners is promulgated on July 12, 2022 by the State Bank of Vietnam.
Accordingly, the par value of tokens may be nominated in Vietnam dong or a freely convertible foreign currency. An enterprise shall convert the foreign-currency par value of tokens into Vietnam dong or another foreign currency. The exchange rate used for the conversion is that quoted on the transaction date by a licensed bank at which the enterprise opens its special-use foreign currency account. In case the transaction date falls on a day-off or public holiday, the exchange rate used for the conversion is that quoted on the day preceding the transaction date.
Besides, an enterprise granted a license by the State Bank shall open one special-use account for each type of foreign currency at one licensed bank for conducting the business activities at one facility for the business of prize-winning video games and may conduct foreign-currency collection and payment transactions as follows: Depositing foreign-
currency cash into its account in case the foreign-currency cash amount collected from the sale of tokens and from gaming machines exceeds the prescribed cash balance; Collecting amounts transferred from players’ overseas accounts or foreign-currency payment accounts opened at licensed banks in Vietnam; etc.
Also in accordance with this Circular, such enterprises are permitted to purchase foreign currency amounts from licensed banks where they open their special-use foreign currency accounts in case the foreign-currency cash balance and the balance on the special-use foreign currency accounts and foreign-currency payment accounts are insufficient for paying out prize money or withdrawing foreign-currency cash to serve the business of prize-winning video games within the scope of collection and payment of foreign currency amounts and other foreign exchange activities of enterprises after producing papers and documents proving their lawful and valid transactions.
This Circular takes effect on September 01, 2022.
Ü NATURAL RESOURCES - ENVIRONMENT
FROM AUGUST 25, HOUSEHOLDS FAILING TO CLASSIFY DOMESTIC SOLID WASTES
SHALL BE FINED UP TO VND 1 MILLION
On July 07, 2022, the Government issues the Decree No. 45/2022/ND-CP providing penalties for administrative violations against regulations on environmental protection.
According to the Decree, a fine of between VND 500,000 and VND 1,000,000 shall be imposed on households and individuals who fail to classify domestic solid waste as prescribed; or fail to use packaging for containing domestic solid waste as prescribed. Noticeably, owners of investment projects, owners or management boards of urban areas, apartment buildings and office buildings committing violations shall be imposed penalties as follows:
Firstly, a fine of between VND 200,000,000 and VND 250,000,000 shall be imposed for the act of failing to arrange equipment, means and locations for conducting at-source classification, collection and storage of domestic solid waste as prescribed;
Secondly, a fine of between VND 250,000,000 and VND 300,000,000 shall be imposed for the act of failing to organize the collection of waste from households and individuals as prescribed; failing to arrange suitable domestic solid waste collection points within the premises of the investment projects as prescribed.
Besides, the Government also provides additional regulations on imposing the fine of between VND 200,000,000 and VND 250,000,000 on investors in construction of urban areas or concentrated residential areas that commit the following violations against regulations on environmental protection: Failing to have separate rainwater and wastewater drainage networks; Failing to have sanitation facilities meeting the environmental protection requirements in public places; Failing to ensure the green space, water surface, and open space as prescribed by the regulations in urban areas or concentrated residential areas, etc.
This Decree takes effect from August 25, 2022.
AMEND PROVISIONS ON BY-AUTOMOBILE TRANSPORT BUSINESS
This noticeable content is prescribed in the Government’s Decree No. 47/2022/ND-CP dated July 19, 2022, amending and supplementing a number of articles of the Government’s Decree No. 10/2020/ND-CP dated January 17, 2020, providing by-automobile transport business and its conditions.
According to new regulations, it is not allowed to use vehicles of under 10 seats (including the driver) renovated from vehicles with a capacity of 10 seats or more for passenger transport business. It is not allowed to use vehicles with sizes and designs similar to vehicles of 9 seats or more (including the driver) for by-taxi passenger transport business.
Noticeably, when the licensing agency issues a decision on revocation of the business license, the transport business
unit shall, within 7 days from the effective date of the decision, return its business license, badges and signboards to the former and stop all transport business activities specified in the revocation decision immediately after it becomes effective.
From July 01, 2023, transport business units using automobiles used for transport business that are subject to camera installation requirement under this Decree must install itinerary monitoring devices integrated with a camera when participating in transport business activities for the first time in order to be granted with badges and signboards.
This Decree takes effect on September 01, 2022.
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