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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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1 |
Circular No. 83/2014/TT-BTC dated June 26, 2014 of the Ministry of Finance guiding the application of value-added tax according to Vietnam’s list of imports |
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VAT rate for unprocessed processed cultivation, husbandry or aquatic products |
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LABOR – SALARY |
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LABOR - SALARY |
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Circular No. 23/2014/TT-BLDTBXH dated August 29, 2014 of the Ministry of Labor, War Invalids and Social Affairs guiding the implementation of a number of articles of the Decree No.03/2014/ND-CP Decree No. 03/2014/ND-CP detailing the implementation of a number of Articles of the Labor Code regarding employment |
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Taking their application back as must send a written request |
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FINANCE – BANKING |
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FINANCE - BANKING |
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3 |
Decision No. 2172/QD-NHNN dated October 28, 2014 of the State Bank of Vietnam providing for the maximum interest rate applicable to USD deposits of organizations, individuals at credit institutions in accordance with the Circular No. 06/2014/TT-NHNN dated March 17, 2014 |
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From October 29, interest rate applicable to USD deposits |
Page 2 |
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EXPORT – IMPORT |
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EXPORT - IMPORT |
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Circular No. 94/2014/TT-BTC dated July 17, 2014 of the Ministry of Finance prescribing customs procedures, inspection and supervision of a number of types of goods temporarily imported for re-export, transferred from border gate to border gate and consigned to bonded warehouses, and handling of cases of refusal to receive goods |
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60 days is the time limit for storage in Vietnam of goods temporarily imported for re-export |
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ECONOMIC – SOCIAL POLICIES |
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ECONOMIC – SOCIAL POLICIES |
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Decree No. 98/2014/ND-CP dated October 24, 2014 of the Government providing the establishment of political organizations and socio-political organizations at enterprises of all economic sectors |
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Enterprise must establish a Trade Union organization within six months of operation |
Page 3 |
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SUMMARY:
Ü TAX – FEE – CHARGE
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On June 26, 2014, the Ministry of Finance issued the Circular No. 83/2014/TT-BTC guiding the application of value-added tax according to Vietnam’s list of imports; within that the most important content is the VAT rate applicable to unprocessed or preliminarily processed cultivation, husbandry or aquatic products, and fresh or raw foods at the stage of trading. Within that, enterprises and cooperatives that pay VAT by the credit method and sell unprocessed or preliminarily processed cultivation, husbandry or aquatic products, and fresh or raw foods to other enterprises and cooperatives at the stage of trading are not required to declare, calculate and pay VAT. In value-added invoices, they shall write selling prices being VAT-exclusive prices and cross out the VAT rate and VAT amount lines. |
Also in accordance with this Circular, business households and individuals, enterprises, cooperatives and other economic organizations that pay VAT by the direct method and sell unprocessed or preliminarily processed cultivation, husbandry and aquatic products, and fresh and raw foods shall declare, calculate and pay VAT at the stage of trading at the rate of 1% of turnover. Products which have not yet been preliminarily processed by ordinary methods as prescribed at Point a of this Clause shall be regarded as processed products and subject to the VAT rate of 10% at all stages of importation, production, processing and trading. This Circular takes effect on August 10, 2014. |
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Ü LABOR - SALARY
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This is the content of the Circular No. 23/2014/TT-BLDTBXH dated August 29, 2014 of the Ministry of Labor, War Invalids and Social Affairs guiding the implementation of a number of articles of the Decree No.03/2014/ND-CP Decree No. 03/2014/ND-CP detailing the implementation of a number of Articles of the Labor Code regarding employment. In particular, any job candidate who wishes to take their application back must send a written request within a period of 03 months from the date on which the final result of labor recruitment is announced. Besides, the employers must be responsible for the public disclosure of regulations by posting an employment advertisement at the employer's main office, branches or representative offices where job |
vacancies are available and advertising job vacancies through the mass media.. Other important content is on labor utilization’s report. Employers must annually report any change in their labor utilization and the Division of Labor, War Invalids and Social Affairs must annually report the registration of employees and change of labor utilization of local enterprises under the Division’s administrative direction. Beside, the Department of Labor, War Invalids and Social Affairs must annually report the registration of employees and change of labor utilization of local enterprises under the Department’s administrative direction as stipulated in before June 15 and December 15. This Circular takes effect on October 20, 2014. |
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Ü FINANCE - BANKING
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On October 28, 2014, the Governor of State Bank issued the Decision No. 2172/QD-NHNN dated October 28, 2014 of the State Bank of Vietnam providing for the maximum interest rate applicable to USD deposits of organizations, individuals at credit institutions in accordance with the Circular No. 06/2014/TT-NHNN dated March 17, 2014. Accordingly, the maximum interest rate applicable to the deposits of organization (excluding credit institutions, foreign bank branches) is 0.25% per annum from 1% per annum to 0.75% per annum. The maximum interest rate applicable to the deposits of individual: 0.75% per annum. |
For interest rates applicable to term USD deposits of entities, individuals at credit institutions arising prior to the effective date of this Decision shall be implemented until the expiry of the term; in the event where at the end of the agreed term, if the entities, individuals do not come for withdrawal, then the credit institutions shall apply interest rates for deposits in accordance with provisions of this Decision. This Decision takes effect on October 29, 2014 and replaces the Decision No. 497/QD-NHNN dated 17 March 2014. |
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Ü EXPORT - IMPORT
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On July 07, 2014, the Ministry of Finance issued the Circular No. 94/2014/TT-BTC prescribing customs procedures, inspection and supervision of a number of types of goods temporarily imported for re-export, transferred from border gate to border gate and consigned to bonded warehouses, and handling of cases of refusal to receive goods. Within that, 60 days is the time limit for storage in Vietnam of goods temporarily imported for re-export and the extension may be made twice for each shipment of temporarily imported goods for re-export and must not exceed 30 days. A trader shall re-export the goods through the border gate of temporary import within 15 days after the expiration of the prescribed time limit for storage in Vietnam (and may not re-export the goods through other border gates). Beside, the Circular does not allow breaking bulk of containers is prohibited throughout the transportation of containerized goods from the border gates of temporary import to customs supervision places or places of re-export within border gates or customs clearance points under |
regulations. When the transportation requires change or breaking bulk of containers for re-export, a trader shall make a written request stating the reason for and the actual time of starting and finishing, the change or breaking bulk; the director of the Customs Branch managing goods retention places shall consider and approve the request. Re-exported goods already cleared from customs procedures must be fully gathered at and re-exported through border gates within eight working hours after they arrive at the border gates and are certified by the border-gate Customs Branches on handover records. If such goods cannot be exported or have not been fully exported and the trader requests in writing extension of the above time limit, the director of the border-gate Customs Branch shall consider and approve such extension for the full export of such goods in subsequent days, which must not exceed the time limit for storage in Vietnam. This Circular takes effect on August 30, 2014, and annuls the Ministry of Finance’s Circular No. 59/2013/TT-BTC of May 8, 2013. |
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Ü ECONOMIC – SOCIAL POLICIES
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The Government has just issued the Decree No. 98/2014/ND-CP dated October 24, 2014 providing the establishment of political organizations and socio-political organizations at enterprises of After 6 months, if the enterprise fails to establish a Trade Union organization, the higher-level Trade Union organization may designate a provisional Trade Union Executive Committee of the enterprise to represent and protect lawful and legitimate rights and interests of workers and collectives of workers. Accordingly, a Trade Union organization shall be established at an enterprise where there are 5 or more Trade Union members or where workers make applications to volunteer to join the Vietnam Trade Union and the conditions for establishment of a |
Trade Union organization prescribed in the Law on Trade Unions and the Statute of the Vietnam Trade Union are fully met. For party organizations at enterprises, the Decree prescribes that an enterprise that has 3 or more workers being official Party members may establish a Party organization according to the Statute of the Communist Party of Vietnam. For an enterprise with only 1 or 2 worker(s) being official Party member(s), the Party committee of the level next higher than the grassroots level shall recommend such worker(s) to the Party organization of the level next higher than the grassroots level and decide to establish a combined Party cell or assign a Party member of the Party organization of the level next higher than the grassroots level to participate in Party activities and establish a Party organization at the enterprise. The combined Party cell shall develop Party members at the enterprise and when there are 3 workers being official Party members at the same enterprise, the Party committee of the level next higher than the grassroots level shall decide to establish a Party organization at the enterprise. This Decree takes effect on December 10, 2014. |
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