Legal Document Updates in English (34/2020)

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NUMBER

TITLE

 

In This Updates:

TAX – FEE – CHARGE

 

TAX – FEE – CHARGE

1

44/2020/TT-BTC

Circular No. 44/2020/TT-BTC dated May 26, 2020 of the Ministry of Finance 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

 

To reduce at least 50% of fee rates for establishment of Mercantile Exchange until the end of 2020

Page 2

LABOR - SALARY

 

LABOR - SALARY

2

06/2020/TT-BLDTBXH

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

 

32 occupations subject to strict requirements on occupational safety and health

Page 2

FINANCE – BANKING

 

FINANCE – BANKING

3

77/2020/TT-BTC

Circular No. 77/2020/TT-BTC dated August 14, 2020 of the Ministry of Finance 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

 

The Ministry of Finance guides the issuance of corporate bonds

Page 2

4

 

632/QD-TTg

 

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

 

Vietnam Bank for Social Policies strives to increase its credit outstanding balance by 80% compared to 2019

Page 3

ACCOUNTING - AUDIT

 

ACCOUNTING - AUDIT

5

39/2020/TT-BTC

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

 

To amend a number of provisions on reporting in accounting and independent audit

Page 3

TRANSPORT

 

TRANSPORT

6

97/2020/ND-CP

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

 

From October 15, to increase limits of liability in air carriage

Page 3

EDUCATION – TRAINING – VOCATIONAL TRAINING

 

EDUCATION – TRAINING – VOCATIONAL TRAINING

7

628/QD-TTg

Decision No. 628/QD-TTg dated May 11, 2020 of the Prime Minister 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 8th plenum of the 11th 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

 

The Prime Minister encourages organizations and individuals to compile textbooks

Page 4

 

SUMMARY:

 

Ü  TAX – FEE – CHARGE

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

 

remitted are equal 50% of the charge and fee rates as prescribed in Clause 1, Article 4 of the Circular No. 168/2016/TT-BTC.  For organizations and individuals in other areas: The charge and fee rates to be remitted are equal 50% of the charge and fee rates for organizations and individuals in the above-mentioned areas. From January 01, 2021, the charge and fee rates as prescribed in the Circular No. 168/2016/TT-BTC shall be applied.

This Circular takes effect from May 26, 2020, until the end of December 31, 2020.

Ü  LABOR - SALARY

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.

 

Thirdly, directly cooking and processing food at collective kitchens with 300 food portions/day or more.

Fourthly, medical examination and treatment; taking care of the disabled and patients; pathology, forensic examination, microbiological testing; jobs in the pharmaceutical sector, etc.

Besides, occupations such as: Circus performers, animal circus; professional athletes, professional fitness and sports coaches; jobs direct related to cremation and burial; directly operating, manufacturing and processing of beer, wine, beverage, cigarettes, cooking oil, cookies and milk, etc. also subject to strict requirements on occupational safety and health.

This Circular takes effect on October 05, 2020.

Ü  FINANCE – BANKING

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.

 

Accordingly, enterprises issuing bonds in the domestic market disclose information before every bond issuance to investors registering to purchase bonds and send disclosed information to the Hanoi Stock Exchange in accordance with Clauses 9 and 11, Article 1 of Decree No. 81/2020/ND-CP.

In addition, the regular information disclosure shall be carried out on a fiscal-year basis, specifically as follows: Within 60 days from the last day of the first 6 months of a fiscal year, an enterprise shall carry our biannual regular information disclosure; Within 90 days from the last day of a fiscal year, an enterprise shall carry out annual information disclosure.

This Circular takes effect on September 28, 2020.

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

 

Social Policies shall organize the implementation of the assigned plan on development investment credit loans, ensuring security, efficiency and law compliance.

The Minister of Planning and Investment, Minister of Finance, and Chairperson of the Board of Directors of the Vietnam Bank for Social Policies shall implement this Decision.

Ü  ACCOUNTING - AUDIT

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.

 

In addition, the Ministry also amends provisions on responsibility to send the report on results of audit service quality self-inspection of an auditing enterprise as prescribed in the Circular No. 157/2014/TT-BTC. To be specific: To add contents must be included in such report such as: General information on auditing enterprise; Organizations and employees of the auditing enterprise on December 31 of the reporting year; The training and knowledge updating for employees and auditors; Customers and provided services; Service charges; etc.

This Circular takes effect on July 01, 2020.

Ü  TRANSPORT

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.

 

Secondly, for carriage of passengers, the limit of liability for damage caused by delay shall increase from 4,150 units of account to 5,346 units of account per passenger.

Besides, for carriage of baggage, including both checked and hand baggage, the limit of liability for the loss or lack of, or damage to, baggage or delay shall increase from 1,000 units of account to 1,288 units of account per passenger.

In addition, for carriage of cargo, the limit of liability for the loss, lack, damage or delay shall increase from 17 units of account to 22 units of account per kilogram of cargo. 

This Decree takes effect on October 15, 2020.

Ü  EDUCATION – TRAINING – VOCATIONAL TRAINING

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 8th plenum of the 11th 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

 

of teachers’ schools. At the same time, to prioritize capital and land so as to ensure sufficient schools and classes for all-day child care and education activities, especially in difficulty-hit regions.

Furthermore, to improve the quality of human resource training, the Prime Minister requests relevant Ministries and sectors to review and improve policies for supporting training activities of non-public training institutions; to ensure fairness between public and non-public training institutions in terms of regimes and policies for learners. Besides, the Vietnamese Qualifications Framework is also applied to all levels of higher education and vocational education, etc.

This Decision takes effect on the signing date.

 

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