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TITLE |
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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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* To allocate working area of the customs at a warehouse |
Page 2 |
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LABOR - SALARY |
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LABOR - SALARY |
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Circular No. 23/2017/TT-BLDTBXH dated August 15, 2017 of the Ministry of Labor, War Invalids and Social Affairs guiding the online issuance of work permit to foreign workers in Vietnam |
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* To issue the work permit to foreign workers in Vietnam |
Page 2 |
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FINANCE – BANKING |
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FINANCE – BANKING |
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Circular No. 09/2017/TT-NHNN dated August 14, 2017 of the State Bank of Vietnam on amending the Circular No. 19/2013/TT-NHNN .. |
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* To amend the regulations on purchase, sale and settlement of bad debts by VAMC |
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SECURITIES |
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SECURITIES |
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4 |
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* Public companies must show the salary of the directors |
Page 3 |
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CULTURE – SPORTS - TOURISM |
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CULTURE – SPORTS - TOURISM |
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5 |
Law No. 09/2017/QH14 dated June 19, 2017 of the National Assembly on Tourism |
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* To allow voluntarily register for rating of hotels |
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ORGANIZATIONAL STRUCTURE |
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ORGANIZATIONAL STRUCTURE |
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6 |
Decree No. 98/2017/ND-CP dated August 18, 2017 of the Government on defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade |
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* New regulations on the organizational structure of the Ministry of Industry and Trade |
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INDUSTRY |
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INDUSTRY |
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7 |
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* The maximum validity period for electricity-related business is 20 years |
Page 4 |
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SUMMARY:
Ü TAX – FEE – CHARGE
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In accordance with Circular No. 84/2017/TT-BTC guiding the Articles of the Decree No. 68/2016/ND-CP dated July 01, 2016 of the Government prescribing conditions on trading of duty-free goods, operation of warehouses, storing yards, and places for customs clearance, goods gathering and customs inspection and supervision. The working area of the customs at a warehouse must satisfy the conditions such as the area is located within the warehouse, whether it is recognized or not, or located within an area of land under the enterprise’s right to enjoyment to facilitate customs supervision and inspection; The area is at least 20 m2 and separated from surrounding areas. The minimum area of the customs office at a location where goods are gathered for inspection or supervision at an international airport, seaport or border checkpoint is 50 m2. At the same time, working area must have equipment such as computers having management software, |
connected to the management system of the warehouse-operating enterprise and connected to the electronic data processing system of the customs authority in accordance with regulations of the General Department of Customs; equipment connected to the surveillance camera system of the warehouse operator to monitor all areas where exports and imports are stored and all gates of the warehouse; other office supplies (furniture, telephones); infrastructure (electricity supply, information technology infrastructure) to sustain the warehouse operation. Besides, if the warehouse area is at least 03 hectares, at least 2,000 m2 ((40m x 50m) must be provided for the container scanner to ensure radiation safety. Before the container scanner delivered, such area may be used for other activities of the warehouse. This Circular issued by the Ministry of Finance on August 15, 2017 and takes effect on September 30, 2017. |
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Ü LABOR - SALARY
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From October 02, 2017, the online issuance of work permit to foreign workers in Vietnam shall follow the regulations of the Circular No. 23/2017/TT-BLDTBXH issued by the Ministry of Labor, War Invalids and Social Affairs on August 15, 2017. Accordingly, re-issuance of work permit and certification of foreign workers eligible for work permit exemption that are conducted by. Website refers to the web address: http://dvc.vieclamvietnam.gov.vn. Electronic transaction account in issuance of work permit foreign worker is registered by the employee and used to access the website for carrying out procedures for issuing work permit to foreign worker. At least 7 working days before the planned date on which foreign workers start working for the employer, the employer must electronically submit the declaration and application for work permits for foreign workers to the work permit issuing authority through the website. The |
application for issuance of work permit for foreign worker must be conformable with regulations of the law on electronic transactions and management of foreign workers in Vietnam. The employer must convert paper documents attached to the application form for issuance of work permit for foreign worker into portable document format (pdf), document (doc, docx) or joint photographic experts group (jpg) files. Within 05 working days from the receipt of the declaration and application for work permits which are conformable with the law regulations, the work permit issuing authority shall give a response by sending an email to the employer. If the declaration and application for work permits are not conformable with the law regulations, the work permit issuing authority shall an email which indicates reasons thereof to the employer. This Circular takes effect on October 02, 2017. |
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Ü FINANCE – BANKING
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On August 14, 2017, the State Bank of Vietnam issued the Circular No. 09/2017/TT-NHNN on amending the Circular No. 19/2013/TT-NHNN dated September 06, 2013 on purchase, sale and settlement of bad debts by Vietnam Asset Management Company. VAMC shall consider reducing or removing the outstanding late payment interest, fees and fines when they borrower fully pays the principal of all bad debts at VAMC or the borrower cooperates with VAMC and the authorized credit institution; the remission helps the borrower alleviate its financial difficulties or restore its business performance; the borrower has a feasible plan for paying the debt or financial |
restructuring serving debt repayment. In previous regulations, in this case, the borrower immediately repays or promises to repay within 60 days at least 5% of the outstanding principal when the exemption, reduction of fines, fee, and overdue interest is being considered. This Circular also prescribes on selling a bad debt purchased at market value, VAMC shall decide and take responsibility for the sale of bad debts purchased at market value by negotiation with the buyers or through submission of bids or proposals. This Circular takes effect on August 15, 2017. |
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Ü SECURITIES
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The Decree No. 71/2017/ND-CP guiding the corporate governance of public companies issued by the Government on June 06, 2017, takes effect on August 01, 2017. The Decree has issued strict regulations on reporting and information publishing. In particular, a public company must publish regularly, accurately and promptly the information influencing share price and decisions made by shareholders and investors. The salary of the director (general director) and other enterprise managers must be shown separately in the annual financial statements of the company and reported at the annual meeting of general assembly of shareholders. Besides, a public company must report to the State Securities Commission and the local stock exchange and publish the information on organizational structure of the |
management and operation of the company. In the event that the public company changes its operating model, it must report to the State Securities Commission and the local stock exchange and publish information in 24 hours after the decision to change the model is made by the general assembly of shareholders. Particularly, a public company must have at least one employee in charge of publishing information. Such employee of a public company must publish the company's information publicly in compliance with regulations of law and the company’s charter; publicize his or her names and phone numbers for shareholders to contact. This Decree annuls the Circular No. 121/2012/TT-BTC dated July 26, 2012. |
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Ü CULTURE – SPORTS - TOURISM
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This is one of important contents prescribed at the Law on Tourism No. 09/2017/QH14 passed by the National Assembly on June 19, 2017, takes effect on January 01, 2018. In particular, the Law allows organizations and individuals providing tourist accommodation services may voluntarily register for rating of their tourist accommodation establishments with competent state agencies. Hotels, tourist villas, tourist apartments and cruise ships shall be rated according to the national standard on rating of tourist accommodation establishments. Ratings of tourist accommodation establishments include 1-star, 2-star, 3-star, 4-star and 5-star. The Vietnam National Administration of Tourism shall appraise and recognize 4- and 5-star tourist accommodation establishments; Provincial-level tourism agencies shall appraise and recognize 1-star, 2-star and 3-star tourist accommodation establishments. Organizations and individuals providing tourist accommodation services have to use the word “star” or the star image to advertise the ratings of their tourist |
accommodation establishments only after the rating is recognized by a competent state agency. Organizations and individuals providing tourist accommodation services whose tourist accommodation establishments’ ratings have been recognized have to hang the boards displaying the ratings of their tourist accommodation establishments and advertise their tourist accommodation establishments stating their types and recognized ratings; and maintain the quality of their tourist accommodation establishments in conformity with the types and recognized ratings. A person practicing as a tour guide must possess a tour guide’s card and have signed a tour guiding contract with an enterprise providing travel services or having a document on assignment of tour guiding tasks under tour programs; or having been assigned by organizations or individuals managing tourist zones or tourist attractions, for on-spot tour guides. Each international tour guide’s card or domestic tour guide’s card is valid for 5 years. This Law replaces the Law on Tourism No. 44/2015/QH11. |
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Ü ORGANIZATIONAL STRUCTURE
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At the Decree No. 98/2017/ND-CP, the Government issues the specific regulations functions, tasks, powers and organizational structure of the Ministry of Industry and Trade; within that the most important contents prescribes the adjustment on organizational structure of this unit compared with the previous regulations. In particular, the Decree prescribes the Ministry of Industry and Trade have 30 affiliated units instead of 35 affiliated units in previous regulations. Within that, to annul some units such as The Emulation-Commendation Department; The General Department of Energy; The Trade Research Institute and The Office; to merge The Europe Market Department and The America Market Department to European - American Market Department; The Asia-Pacific Market Department and The Africa, Western and Southern Asia Market Department to Asian – African Market Department. At the same time, many Departments are changed into the new names such as: the Vietnam Competition Authority becomes Vietnam Competition and Consumer Protection Authority; the Local Industry |
Department becomes the Local Industry and Trade Department; the Vietnam E-Commerce and Information Technology Agency becomes E-commerce and Digital Economy Agency… Also in accordance with this Decree, the Ministry of Industry and Trade is a governmental agency performing the state management of industry and trade, including the following industries and sectors: Electricity, coal industry, oil and gas, new energy, renewable energy, chemicals, industrial explosives, mechanical engineering, metallurgy, mineral mining and processing industry, consumer industry, food industry, supporting industries, environment industry, high-tech industry; industrial and handicrafts complexes (clusters), industrial promotion; domestic trade; import, export and border trade; foreign market expansion; market surveillance; trade promotion; e-commerce; commercial services; international economic integration; competition, consumer rights and protection… This Decree is issued and takes effect on August 18, 2017. |
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Ü INDUSTRY
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Circular No. 12/2017/TT-BCT on procedures for issuance and revocation of electricity operating licenses issued by the Ministry of Industry and Trade on July 31, 2017, applies to entities engaging in electricity consulting services, electricity generation, electricity distribution, electricity wholesaling, electricity retailing, and export or import of electricity. In accordance with this Circular, the maximum validity period of electricity consulting services is 05 years, the maximum validity period of electricity distribution; electricity wholesaling, electricity retailing and export or import of electricity is 10 years; the maximum validity period of electricity transmission is 20 years. Particularly, the Maximum validity period of electricity generation for power plants included in the list of power plants that have key importance for society and economy and national defense |
and security is 20 years and for power plants not included in the list of power plants that have key importance for society and economy and national defense and security is 10 years. This Circular also prescribes the exemption from electricity operating licenses such as electricity generation for self-consumption without selling electricity to other organizations and individuals; electricity generation with installed capacity of less than 1 MW to sell electricity to other entities; purchase of electricity with capacity of under 50kVA from distributing electricity grids to sell electricity directly to electricity-using customers living in rural, mountainous, and islands areas; and dispatch of national electric system and electricity market transaction administration. This Circular takes effect on September 14, 2017. |
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