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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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Circular No. 128/2014/TT-BTC dated September 05, 2014 of the Ministry of Finance guiding the reduction of personal income lax for individuals working in economic zones and border-gate economic zones |
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50% reduction of personal income lax for individuals working in economic zones |
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Circular No. 103/2014/TT-BTC dated August 06, 2014 of the Ministry of Finance guiding the fulfillment of tax liability of foreign entities doing business in Vietnam or earning income in Vietnam |
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Change the method of tax calculation for foreign contractors |
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SECURITY |
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SECURITY |
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Decree No. 76/2014/ND-CP dated July 29, 2014 of the Government guiding the Ordinance on management and use of weapons, explosive materials, and combat gear |
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Exempt the License for explosive precursors is smaller than 05 kg per year for testing |
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ADMINISTRATIVE |
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ADMINISTRATIVE |
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Decree No. 64/2014/ND-CP dated June 26, 2014 of the Government detailing a number of articles of the Law on Reception of Citizens |
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Leaders of Government-attached agencies must have reception of citizen at least 01 day/month |
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JUSTICE |
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JUSTICE |
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Law No. 56/2014/QH13 of the National Assembly amending and Supplementing a Number of Articles of the Law on Vietnamese Nationality, |
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Annul the term for registration of keeping the Vietnamese Nationality |
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SUMMARY:
Ü TAX – FEE – CHARGE
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The Ministry of Finance issued the Circular No. 128/2014/TT-BTC dated September 05, 2014 guiding the reduction of personal income tax for individuals working in economic zones and border-gate economic zones, including individuals persons who sign labor contracts with economic zone management boards and state management agencies; individuals persons who labor contracts with organizations and individuals having business establishments in economic zones and actually work in economic zones…. Accordingly, For residents having taxable incomes, Temporarily paid income tax amount reduced is equal to the temporarily paid or deducted personal income tax amount (monthly, quarterly or each arising time) multiplied by 50% for determination of temporarily paid income tax amount and the to-be-reduced income tax amount is equal |
to the total payable income tax amount multiplied by 50%. For non-residents, the reduced personal income tax amount shall be the total taxable income in economic zones multiplied by (x) the tax rate applicable to non-residents multiplied by (x) 50%. For individuals doing business in economic zones before January 1, 2009, and earning incomes from their business who are entitled to investment incentives under the Law on Enterprise Income Tax by the end of December 31, 2008, if the enterprise income tax exemption period has not yet expired, they will enjoy personal income tax exemption till the expiration of the remaining tax exemption period and after that, enjoy 50% reduction of personal income tax. This Circular takes effect on October 20, 2014 and replaces the Circular No. 176/2009/TT-BTC dated September 09, 2009. |
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On August 06, 2014, the Ministry of Finance issued the Circular No. 103/2014/TT-BTC guiding the fulfillment of tax liability of foreign entities doing business in Vietnam or earning income in Vietnam, regulates that the contractor/subcontractor has a permanent establishment in Vietnam or the contractor/subcontractor is a resident of Vietnam; the period of business operation on Vietnam under the main contract or subcontract is 183 days or longer from the effective date of the contract and the contractor/subcontractor applies Vietnam’s accounting practice, has applied for tax registration and issued with a taxpayer ID number (TIN) by a tax authority shall be incurred tax (including VAT and enterprise income tax) in accordance with legal regulations. In particular, from October 01, 2014, revenue subject to VAT is total revenue from provision of services and services |
attached to goods subject to VAT received by the foreign contractor or foreign sub-contractor inclusive of subtracting taxes payable and any costs (if any) paid by the Vietnamese party instead of the foreign contractor or foreign sub-contractor. Also from October 01, 2014, income from transfer of the right to ownership or the right to enjoyment of property, transfer of the right to participate in business contracts/projects in Vietnam, transfer of right to property in Vietnam shall incur the enterprise income tax. This Circular takes effect on October 01, 2014 and supersedes Circular No. 60/2012/TT-BTC dated April 12, 2012. |
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Ü SECURITY
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This is the content prescribed at the Decree No. 76/2014/ND-CP dated July 29, 2014 of the Government guiding the Ordinance on management and use of weapons, explosive materials, and combat gear and takes effect on September 15, 2014. In accordance with the regulations in this Decree, the obtainment of the License for trading, export, or import of explosive precursors for the purpose of scientific research or experiment shall be exempt if the amount of explosive precursors is smaller than 05 kg per year; any organization that imports explosive precursors for the purpose of manufacture, research, or experiment must obtain a License for explosive precursor import and is exempt from obtaining the License for explosive precursor trading. Compounds that contain more than 45% of explosive precursors must adhere. The Decree focuses that beside the Certificate of Business registration or certificate of investment or Certificate of Business Registration that permits the operations pertaining to chemicals or industrial explosives, the organization must also satisfy some other conditions such as facilities; chemical safety; personnel such as the storage or port where explosive precursors are unloaded must comply with regulations on security and safety; containers of explosive precursors must have satisfactory quality and ensure environmental hygiene; vehicles sued for transporting explosive precursors must comply with regulations of law on transporting dangerous cargo… |
Also in accordance with this Decree, the amount of explosive precursors being sold, imported, exported, and unsold must be monitored in separate books. Notes of delivery and receipts of explosive precursors must not contain other goods or supplies. Applicable regulations on invoicing and bookkeeping must be complied with. Any trading of explosive precursors without invoices shall be considered illegal and punished. Information, list of customers, and documents about explosive precursors must be kept for at least 05 years, even if the organization no longer has any operation pertaining to explosive precursors. If the organization has multiple branches, it must collect information from all of such branches. Besides, the Government decides to equip the fishery patrol forces with military weapons such as fishery patrol staff and crewmembers on fishery patrol vessels are provided the following military weapons: pistols, submachine guns; ammunition for the weapons or fishery patrol vessels are provided with light machine guns, machine guns, 14.5 mm guns and ammunition for the weapons. Ordinance on management and use of weapons, explosive materials and combat gear and its guiding documents shall apply to management and use of military weapons provided for fishery patrol forces. This Decree takes effect on September 15, 2014 |
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Ü ADMINISTRATIVE
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In accordance with the Decree No. 64/2014/ND-CP dated June 26, 2014 of the Government detailing a number of articles of the Law on Reception of Citizens. Government-attached agencies shall organize the reception of citizens at least one day per month at the citizen reception places. Rules on citizen reception, guidelines on the process of receiving citizens and settling complaints, denunciations, petitions and reports in accordance with law, and information on citizen reception by agencies and units must be posted up at the offices of agencies and units and citizen reception places and published on their websites (if any), including citizen reception places; time of regular citizen reception; timetable on citizen reception by heads of agencies or units; participants and tentative agendas of regular citizen reception sessions. Beside receiving citizens in person at least 1 day a month at citizen reception places of their agencies or units, the heads of government-attached agencies or public non-business units shall irregularly receive citizens in the cases
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as pressing and complicated cases involving many people and related to responsibilities of many agencies, organizations and units, or about which opinions of agencies, organizations and units remain divergent; cases, without prompt direction and consideration, may cause serious consequences, lead to destruction of state or collective property, harm the lives or property of people, or affect security, political stability or social order and safety. Besides, the Decree also regulates the Structure and organization of the Central Citizen Reception Board . The Central Citizen Reception Board has its head, deputy heads and citizen reception civil servants. The post of head of the Central Citizen Reception Board is equivalent to that of director of a ministerial department and the post of deputy head of the Central Citizen Reception Board is equivalent to that of deputy director of a ministerial department, which are appointed and relieved from duty by the Inspector General of the Government Inspectorate of Vietnam. This Decree takes effect on August 15, 2014 |
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Ü JUSTICE
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On June 24, 2014, the National Assembly passed the Law No. 56/2014/QH13 Amending and Supplementing a Number of Articles of the Law on Vietnamese Nationality, annuls the regulations that Overseas Vietnamese shall loose their Vietnamese nationality if not register to keep the nationality for 05 years. Also in accordance with this Law, overseas Vietnamese who have not yet lost their Vietnamese nationality as |
prescribed by Vietnamese law before June 26, 2014 may retain their Vietnamese nationality. Overseas Vietnamese who have not yet lost their Vietnamese nationality but have no papers proving their Vietnamese nationality shall make registration with overseas Vietnamese representative missions to have their Vietnamese nationality determined and to be granted Vietnamese passports. This Law takes effect on June 26, 2014. |
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