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| NUMBER | TITLE |
| In This Updates: | |
TAX – FEE – CHARGE |
| TAX – FEE – CHARGE | |||
1 | Decision No. 36/2016/QD-TTg dated September 01, 2016 of the Prime Minister on application of ordinary import duties |
| * Ordinary duties on imports applied for many products | Page 2 | |
2 | Decree No. 120/2016/ND-CP dated August 23, 2016 of the Government on detailing and guiding the implementation of a number of Articles of the Law on Fees and Charges |
| * Principles of managing and using fees and charges | Page 2 | |
3 | Circular No. 130/2016/TT-BTC dated August 12, 2016 of the Ministry of Finance guiding the Government Decree No. 100/2016/ND-CP on the implementation of the Law on amendments to certain articles of the Law on value added tax, the Law on special excise tax and the Law on tax administration and to certain articles of tax-related circulars |
| * Guidelines on late payment interest for tax debts | Page 2 | |
NATURAL RESOURCES – ENVIRONMENT |
| NATURAL RESOURCES - ENVIRONMENT | |||
4 | Decree No. 119/2016/ND-CP dated August 23, 2016 of the Government on policies on sustainable management, protection and development of coastal forests to cope with climate change |
| {C}{C}* Policies on protection and development of coastal forests | Page 3 | |
INDUSTRY |
| INDUSTRY | |||
5 |
|
| {C}{C}* Applying special excise duty to beer products based on alcohol content | Page 3 | |
SUMMARY:
Ü TAX – FEE – CHARGE
| ||
On September 01, 2016, the Prime Minister issued the Decision No. 36/2016/QD-TTg dated September 01, 2016 of the Prime Minister on application of ordinary import duties according to Point c Clause 3 Article 5 of the Law on Export and import duties. Accordingly, ordinary import duty of 5% shall be applied for many kinds of products such as: smart cards; Answer phones; Vacuum; Uninterruptible Power Supply; automatic payment machines; electronic computers; Laundry machines; offset printers; laser printers…. | For ordinary duties on imports that are not listed in the Appendix enclosed herewith and are not eligible for concessional duties or special concessional duties specified in Clause a and b Article 5 of the Law on Export and import duties No. 107/2016/QH13 shall be equal to 150% of the concessional duty rates on corresponding articles specified in Appendix II of Decree No. 122/2016/ND-CP dated September 01, 2016. | |
| ||
On August 23, 2016, the Government promulgates the Decree No. 120/2016/ND-CP on detailing and guiding the implementation of a number of Articles of the Law on Fees and Charges. Under this Decree, fees from public services provided by state agencies shall be paid to state budget, except for cases where expenses for activities of provision of such public services are deducted from the sum of collected fees; the remaining amount (if any) shall be paid to state budget. Of which, State agencies that are eligible to retain a predetermined amount of collected fees for maintaining their activities: agencies implementing financial policies as referred to by the Government or Prime Minister with respect to the autonomy in the use of employees on payroll and administrative expenditures by state agencies; | overseas Vietnamese representative missions; Police or national defense forces that are tasked with providing services and collecting fees to serve the state management tasks in accordance with regulations of the Law on fees and charges. Annually, collectors must make final settlement of collections and expenditures as regulated. Collectors shall carry out the final settlement of collected fees and charges in 2016 in accordance with the Ordinance on fees and charges and regulations of the law on tax management. After making the final settlement, the unused amount of fees left during the year shall be carried forwards to the following year for spending as regulated up to January 01, 2018, and the entire remaining amount of collected fees must be transferred to state budget. This Decree takes effect on January 01, 2017. | |
| ||
On August 12, 2016, the Ministry of Finance promulgated the Circular No. 130/2016/TT-BTC guiding the Government Decree No. 100/2016/ND-CP on the implementation of the Law on amendments to certain articles of the Law on value added tax, the Law on special excise tax and the Law on tax administration and to certain articles of tax-related circulars. Under this Circular, late payment interest for tax debts that ensue on and after July 01, 2016 shall add up at the daily rate of 0.03% of the deferred amount of tax. If a taxpayer declares tax inadequately for a tax period before July 01, 2016 though such incident is exposed by a competent government authority through inspection or is voluntarily detected and announced by the taxpayer after July 01, 2016, late payment interest shall be imposed at the rate of 0.05% per day (or another rate defined in legislative documents from time to time) from the payment deadline as defined in the laws to the 30th of June 2016 inclusive. However, the daily rate of late payment interest, from July 01, 2016 to the date that the taxpayer pays the tax to the state budget, is 0.03% of the insufficient amount of tax. | For value added tax, a business that has an amount of remaining deductible input VAT of at least VND 300 million on its exported goods and services in a month (if declaring the tax every month) or in a quarter (if declaring the tax every quarter) shall be given a refund of monthly or quarterly VAT; however, the remaining deductible input VAT of less than VND 300 million in a month or quarter shall be carried forward to the subsequent month or quarter. Especially, the tax rate of 0% is not applicable to overseas reinsurance; technology transfer, overseas transfer of intellectual property; capital transfer, granting of credit, outward securities investment; financial derivatives services; outbound postal and telecommunications services; Petroleum supplied domestically to motor vehicles of the businesses that operate in free trade zones; Online payment services… This Circular takes effect on July 01, 2016.
| |
Ü NATURAL RESOURCES - ENVIRONMENT
| ||
On August 23, 2016, the Government issued the Decree No. 119/2016/ND-CP on policies on sustainable management, protection and development of coastal forests to cope with climate change. This Decree takes effect on October 10, 2016. Organizations, enterprises, households and individuals making investment in protection, development and use of coastal forests shall receive benefits from products generated from the investment; Develop trademarks of products originated from coastal forests and coastal forest ecosystems; Receive compensation for working or investment results as referred by laws when the Government makes decision on withdrawal of forests. | Besides, administrative expenditures on contracted forest protection and regeneration of coastal natural forests shall be derived from the central-government budget. The support rate for contracted protection of coastal forests shall be equal to 1.5 times the average support for contracted protection of protective forests in accordance with current regulations. The expenditure level for regeneration of natural forests is 4 million VND/hectare for 5 years (average amount is VND 800,000/hectare/year). The expenditure level on preparing documents of contracting for forest protection and regeneration of natural forests shall be VND 50,000/hectare and applied in the first year to forest area requiring protection on contractual basis | |
Ü INDUSTRY
| ||
Based on viewpoints of developing beer – alcohol – beverage industry by balancing the production and consumption between regions nationwide in order to prevent overusing alcoholic beverages, the Minister of Industry and Trade signed the Decision No. 3690/QD-BCT dated September 12, 2016 of the Ministry of Industry and Trade on approving the planning for development of Vietnams’ beer – alcohol – beverage industry by 2025 and the orientation towards 2035. Under this Decision, the Minister determines to do research on applying special excise duty to beer products based on their output and alcohol content at suitable times to prevent trade frauds, price change and loss of budget revenues; Annually organize domestic trade fairs and exhibitions whereby enterprises may introduce and promote their products; Rent land area out to enterprises for developing centralized material areas in service of the beer-alcohol- | beverage industry’s development; Encourage and enable economic sectors to invest in production by means of contribution of capital, issuance of shares/bonds, loans provided by domestic and foreign credit institutions. Especially, the construction of beer factories with a scale of under 50 million liters/year is not encouraged, except for factories that produce beer for domestic sale…. Total production of beer is expected to reach 4.6 billion liters, that of alcohol is expected to reach 350 million liters (in which, total production of industrial alcohol holds about 40%), and that of beverage is expected to reach 9.1 billion liters by 2025. The average growth rate of the value added of the whole industry is expected to reach 5.8%/year during 2016 – 2020, 4.6 %/year during 2021 – 2025 and 4.0%/year during 2026 – 2035. This Decision takes effect on the signing date. | |
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