Legal Document Updates in English (34/2020)

TO REDUCE AT LEAST 50% OF FEE RATES FOR ESTABLISHMENT
OF MERCANTILE EXCHANGE UNTIL THE END OF 2020

On May 26, 2020, the Ministry of Finance issues the Circular No. 44/2020/TT-BTC on prescribing rates and remittance of appraisal charges for goods and services subject to business restriction; goods and services subject to conditional commercial business and fees for grant of licenses for establishment of Mercantile Exchange.

Accordingly, From May 26, 2020 until the end of December 31, 2020, charge and fee payers being organizations and individuals shall remit charges and fees as follows:

For organizations and individuals in centrally run cities and provincial cities and towns: The charge and fee rates to be

32 OCCUPATIONS SUBJECT TO STRICT REQUIREMENTS
ON OCCUPATIONAL SAFETY AND HEALTH

The Ministry of Labor, War Invalids and Social Affairs issues the Circular No. 06/2020/TT-BLDTBXH on promulgating the List of occupations subject to strict requirements on occupational safety and health on August 20, 2020.

Specifically, the List of occupations subject to strict requirements on occupational safety and health including:

Firstly, working at the height of over 2 meters above the ground, on mobile platforms or at precarious places;

Secondly, working in confined spaces or places that with potential release poison gases such as vaults, tunnels, tanks, wells, sewers and underground works; operating and maintaining gas pipelines, industrial cleaning, environmental cleaning, cage cleaning; sewage and waste treatment, draining.

THE MINISTRY OF FINANCE GUIDES THE ISSUANCE OF CORPORATE BONDS

On August 14, 2020, the Ministry of Finance issues the Circular No. 77/2020/TT-BTC on guiding a number of provisions of the Government’s Decree No. 81/2020/ND-CP of July 09, 2020, amending and supplementing a number of articles of the Government’s Decree No. 163/2018/ND-CP of December 04, 2018, on issuance of corporate bonds.

Specifically, the Ministry of Finance guides 03 contents on issuance of corporate bonds, including: Information disclosure regime of bond-issuing enterprises; Regime of information disclosure on bulletins on corporate bonds; Reporting regime of Stock Exchanges, corporate bond issuance counseling institutions and bond depository institutions.

VIETNAM BANK FOR SOCIAL POLICIES STRIVES TO INCREASE
ITS CREDIT OUTSTANDING BALANCE BY 80% COMPARED TO 2019

On May 12, 2020, the Prime Minister issues the Decision No. 632/QD-TTg on assignment of the 2020 plan on the State’s development investment credit loans.

Accordingly, the Prime Minister assigns the 2020 plan on the State’s development investment credit loans to the Vietnam Bank for Social Policies with the growth of credit outstanding balance of 8% compared to 2019. The Vietnam Bank for

TO AMEND A NUMBER OF PROVISIONS ON REPORTING
IN ACCOUNTING AND INDEPENDENT AUDIT

On May 15, 2020, the Ministry of Finance issues the Circular No. 39/2020/TT-BTC on amending and supplementing the reporting regime specified in a number of Circulars in the fields of accounting and independent audit.

Accordingly, within a period of 30 days from the date on which the report of inspection results is signed, auditing enterprises subject to inspection must make a summary on remedying of the faults (as in the previous provision, it was the report on remedying of the faults) and execution of the Inspectorate’s proposals to the inspection agency. The summary on remedying of the faults and execution of the Inspectorate’s proposals is a reference material used for the next inspection of audit service quality.

FROM OCTOBER 15, TO INCREASE LIMITS OF LIABILITY IN AIR CARRIAGE

This is the new content promulgated by the Government in the Decree No. 97/2020/ND-CP on increasing limits of liability applicable to the carrier in air carriage of August 26, 2020.

In accordance with this Decree, to increase limits of liability applicable to the carrier in air carriage as prescribed in Clause 1, Article 166 of the Law on Vietnam Civil Aviation dated June 29, 2006 as follows:

First of all, for carriage of passengers, the limit of liability for the death or injury of passengers shall increase from 100,000 units of account to 128,821 units of account per passenger.

THE PRIME MINISTER ENCOURAGES ORGANIZATIONS AND INDIVIDUALS
TO COMPILE TEXTBOOKS

On May 11, 2020, the Prime Minister promulgates the Decision No. 628/QD-TTg on promulgating the Plan on implementation of Conclusion No. 51-KL/TW of May 30, 2019, of the Party Central Committee’s Secretariat, on further implementing the Resolution of the 8^th plenum of the 11^th Party Central Committee on crucial and comprehensive reform of education and training to meet industrialization and modernization requirements in the context of the socialist-oriented market economy and international integration.

Accordingly, the Prime Minister encourages organizations and individuals to compile textbooks on the basis of the general education program adopted. In addition, the Prime Minister also prioritizes funds for training and further training to improve competency of teachers of all levels and lecturers