Legal Document Updates in English (32/2020)

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NUMBER

TITLE

 

In This Updates:

TAX – FEE – CHARGE

 

TAX – FEE – CHARGE

1

75/2020/TT-BTC

Circular No. 75/2020/TT-BTC dated August 12, 2020 of the Ministry of Finance on amending and supplementing a number of articles of the Circular No. 279/2016/TT-BTC on prescribing the rates and collection, remittance, management and use of charges for food safety and hygiene work

 

To reduce 10% of charges for food safety and hygiene work

Page 2

2

74/2020/TT-BTC

Circular No. 74/2020/TT-BTC dated August 10, 2020 of the Ministry of Finance on prescribing the road user charge rate and the remittance thereof

 

To reduce 10 - 30% of road user charges to the end of 2020

Page 2

LAND – HOUSING

 

LAND – HOUSING

3

22/2020/QD-TTg

Decision No. 22/2020/QD-TTg dated August 10, 2020 of the Prime Minister on the reduction of land rental by 2020 for those affected by the Covid-19 epidemic under the Government’s Resolution No. 84/NQ-CP dated May 29, 2020

 

To reduce 15% of land rental in 2020 for many enterprises

Page 2

FINANCE – BANKING

 

FINANCE – BANKING

4

1232/QD-TTg

Decision No. 1232/QD-TTg dated August 13, 2020 of the Prime Minister on the interest rates on concessional loans provided by the Vietnam Bank for Social Policies according to the Government’s Decree No. 100/2015/ND-CP on social housing development and management

 

The interest on concessional loans for purchasing social houses in 2020 is 4.8%/year

Page 3

5

1349/QD-NHNN

Decision No. 1349/QD-NHNN dated August 06, 2020 of the State Bank of Vietnam on interest rate for required reserves deposits and deposits in excess of required reserves of credit institutions, foreign bank branches at the State Bank of Vietnam

 

From August 06, interest rate for required reserves deposits in Vietnam dong is 0.5%/year

Page 3

SECURITIES

 

SECURITIES

6

73/2020/TT-BTC

Circular No. 73/2020/TT-BTC dated August 07, 2020 of the Ministry of Finance on amending, supplementing a number of articles of the Circular No. 134/2017/TT-BTC on guiding e-transactions in the securities market

 

An e-order slip must have order-placing device identification information

Page 3

INDUSTRY

 

INDUSTRY

7

03/2020/TT-BKHCN

Circular No. 03/2020/TT-BKHCN dated August 10, 2020 of the Ministry of Science and Technology on suspension of effect of the Circular No. 15/2019/TT-BKHCN on promulgating “the National technical regulation on stainless steel”

 

To suspend the effect of the Circular No. 15/2019/TT-BKHCN

Page 4

IMMIGRATION

 

IMMIGRATION

8

 

79/2020/TT-BCA

 

Circular No. 79/2020/TT-BCA dated July 14, 2020 of the Ministry of Public Security on guiding exit postponement and entry suspension

 

Guidance on exit postponement

Page 4

 

SUMMARY:

 

Ü  TAX – FEE – CHARGE

TO REDUCE 10% OF CHARGES FOR FOOD SAFETY AND HYGIENE WORK

On August 12, 2020, the Ministry of Finance promulgates the Circular No. 75/2020/TT-BTC on amending and supplementing a number of articles of the Circular No. 279/2016/TT-BTC dated November 14, 2016 of the Minister of Finance on prescribing the rates and collection, remittance, management and use of charges for food safety and hygiene work.

Accordingly, from August 12, 2020 to the end of December 31, 2020, appraisal charges for sale license, certificates, conditions of practicing, trading, etc. in the field of food safety shall be reduced 10% in comparison with the charge rates as prescribed in the Tariff of charges for food safety and hygiene work attached to the Circular No. 279/2016/TT-BTC.

From January 01, 2021, the above charge rates shall be applied according to the regulations in the Tariff of charges

 

for food safety and hygiene work attached to the Circular No. 279/2016/TT-BTC.

Besides, this Circular amends Clause 2, Article 6 of the Circular No. 279/2016/TT-BTC as follows: In case collecting organizations are non-business units or state agencies being allowed to have their operating expenses covered by charge revenues as prescribed in Clause 1, Article 4 of the Decree No. 120/2016/ND-CP, they shall deduct 70% of charge revenues for covering the spending contents according to Article 5 of the Decree No. 120/2016/ND-CP. 30% of collected charges shall be remitted into the state budget according to chapters and sub-sections of state budget index in force.

The Circular takes effect on August 12, 2020.

TO REDUCE 10 - 30% OF ROAD USER CHARGES TO THE END OF 2020

The Ministry of Finance issues the Circular No. 74/2020/TT-BTC on August 10, 2020 on prescribing the road user charge and the remittance thereof.

In accordance with this Circular, from August 10, 2020 until the end of December 31, 2020, cars used in transport business of transport business enterprises, cooperatives and households subject to road user charges specified in Article 2 of the Circular No. 293/2016/TT-BTC shall be subject to charges as follows:

Firstly, for passenger transport cars (cars for carrying people, buses for mass transit of all kinds): The charge rate to be remitted shall be equal to 70% of the charge rate specified at

 

Points 1, 2, 3, 4 and 5, Section 1 of the Road User Charge Tariff attached to the Circular No. 293/2016/TT-BTC.

In addition, for trucks, special-use vehicles and tractors: The charge rate to be remitted shall be equal to 90% of the charge rate specified at Points 2, 3, 4, 5, 6, 7 and 8, Section 1 of the Road User Charge Tariff attached to the Circular No. 293/2016/TT-BTC.

From January 01, 2021, the road user charge rate specified in Section 1 of the Road User Charge Tariff attached to the Circular No. 293/2016/TT-BTC shall continue to be applied.

This Circular takes effect from August 10, 2020, until the end of December 31, 2020.

Ü  LAND – HOUSING

TO REDUCE 15% OF LAND RENTAL IN 2020 FOR MANY ENTERPRISES

On August 10, 2020, the Prime Minister issues the Decision No. 22/2020/QD-TTg on the reduction of land rental by 2020 for those affected by the Covid-19 epidemic under the Government’s Resolution No. 84/NQ-CP dated May 29, 2020.

Accordingly, to reduce 15% of land rental to be paid in 2020 for enterprises, organizations, households and individuals that are directly leased land by the State according to decisions or contracts of competent State agency in the form of annual rental payment, who have to suspend production and business activities for 15 days or more due to the effect of Covid-19 epidemic.

In addition, the land lessee who has many different production and business activities but only suspends one production and business activity in the land parcel

 

or land plot directly leased by the State also is entitled to land rental reduction in 2020. Concurrently, the outstanding land rental of the years prior to 2020 and the late-payment interest (if any) shall not be reduced.

Besides, the land lessee shall submit 01 set of dossier of request for land rental reduction to the tax agency, the Management Board of Economic Zone, the Management Board of Hi-Tech Zone and other agencies in accordance with law provisions from August 10, 2020 until the end of December 31, 2020. If the dossier is submitted from January 01, 2021 onwards, the land lessee shall not be reduced land rental.

This Decision takes effect on the signing date.

Ü  FINANCE – BANKING

THE INTEREST RATE ON CONCESSIONAL LOANS
FOR PURCHASING SOCIAL HOUSES IN 2020 IS 4.8%/YEAR

On August 13, 2020, the Prime Minister promulgates the Decision No. 1232/QD-TTg on the interest rates on concessional loans provided by the Vietnam Bank for Social Policies according to the Government’s Decree No. 100/2015/ND-CP dated October 20, 2015 on social housing development and management.

Specifically, the interest rate on concessional loans provided by the Vietnam Bank for Social Policies applied for loans with

 

outstanding loans in 2020 for purchasing, rent-purchasing social houses; building, renovating or repairing houses according to the Government’s Decree No. 100/2015/ND-CP dated October 20, 2015 on social housing development and management shall be 4.8%/year.

This Decision takes effect on the signing date.

FROM AUGUST 06, INTEREST RATE FOR REQUIRED RESERVES DEPOSITS
IN VIETNAM DONG IS 0.5%/YEAR

On August 06, 2020, the State Bank of Vietnam issues the Decision No. 1349/QD-NHNN on interest rate for required reserves deposits and deposits in excess of required reserves of credit institutions, foreign bank branches at the State Bank of Vietnam.

Specifically, the interest rates applicable to required reserves deposits and deposits in excess of required reserves of credit institutions, foreign bank branches at the State Bank of Vietnam are prescribed as follows:

Firstly, for required reserves deposits in Vietnam dong: 0.5%
 

per annum (1.0% per annum as in the previous regulation).

Secondly, for required reserves deposits in foreign currencies: 0% per annum.

Thirdly, for deposits in excess of required reserves in Vietnam dong: 0% per annum.

Fourthly, for deposits in excess of required reserves in foreign currencies: 0.05% per annum.

This Decision takes effect on August 06, 2020.

Ü  SECURITIES

AN E-ORDER SLIP MUST HAVE
ORDER-PLACING DEVICE IDENTIFICATION INFORMATION

The Ministry of Finance issues the Circular No. 73/2020/TT-BTC on amending, supplementing a number of articles of the Circular No. 134/2017/TT-BTC dated December 19, 2017 of the Minister of Finance, on guiding e-transactions in the securities market on August 07, 2020.

Accordingly, to add the following term: Trading time means the time when investors log in to the online securities trading system to perform online securities trading orders.

In addition, upon placing an order via telephone, an investor must use the telephone number for order placement and provide information for identification instead of providing at

 

least the following information: Identification number of the trading account and authentication information. Every time performing online securities trading, an investor must identify as prescribed.

Besides, information stated in an e-order slip which is order-placing device, its physical address or other identification information to ensure the singleness of the order-placing device, also is changed to order-placing device identification information by the new regulation.

This Circular takes effect on October 01, 2020.

Ü  INDUSTRY

TO SUSPEND THE EFFECT OF THE CIRCULAR NO. 15/2019/TT-BKHCN

On August 10, 2020, the Ministry of Science and Technology issues the Circular No. 03/2020/TT-BKHCN on suspension of effect of the Circular No. 15/2019/TT-BKHCN dated November 15, 2019 of the Minister of Science and Technology on promulgating “the National technical regulation on stainless steel”.

Accordingly, to suspend the effect of the Circular No. 15/2019/TT-BKHCN dated November 15, 2019 of the

 

Minister of Science and Technology on promulgating “the National technical regulation on stainless steel” until the end of December 31, 2021. From the effective date of this Circular, stainless steels domestically manufactured and imported from June 01, 2020 shall continue to be circulated on the market.

This Circular takes effect on September 23, 2020.

Ü  IMMIGRATION

GUIDANCE ON EXIT POSTPONEMENT

The Ministry of Public Security issues the Circular No. 79/2020/TT-BCA on guiding exit postponement and entry suspension on July 14, 2020.

Specifically, the Immigration Department shall update information to its management program and notify such to the immigration control office and related agencies within 24 hours after receiving a decision on extension, cancellation or lifting of exit postponement; or lifting of entry suspension. For requests for the Minister of Public Security to issue decisions on exit postponement, within 02 working days, the Director General of the Immigration Department shall report such

 

a request to the Minister of Public Security for consideration and decision.

Besides, the Immigration Department shall organize 24 hour-a-day duty performance for receipt of decisions on, and requests for, exit postponement or entry suspension; and for extension, cancellation or lifting of decisions on exit postponement; or lifting of decisions on entry suspension issued by competent agencies or persons.

This Circular takes effect on September 01, 2020.

 

 

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