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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. 177/2016/TT-BTC dated November 01, 2016 of the Ministry of Finance providing for fees for issuance of the license to provide international travel services, fees for issuance of tourist guide identification cards, charges for issuance of narrator’s certificates, charges for licensing the establishment of branch offices and/or representative offices of foreign travel service providers in Vietnam, and the collection, transfer, management and use thereof |
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* To increase fees for issuance of the license to provide international travel services |
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Circular No. 174/2016/TT-BTC dated October 28, 2016 of the Ministry of Finance on amending and supplementing point a Clause 4 Article 6 of Circular No. 152/2015/TT-BTC dated October 02, 2015 |
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* Taxable price of natural water used for hydroelectricity generation |
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Circular No. 173/2016/TT-BTC dated October 28, 2016 of the Ministry of Finance on amending and supplementing the first paragraph of clause 3 Article 15 of Circular No. 219/2013/TT-BTC by the Ministry of Finance |
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* New regulations on bank transfer confirmation |
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LABOR – SALARY |
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LABOR - SALARY |
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Decree No. 153/2016/ND-CP dated November 14, 2016 of the Government providing on regional minimum wage rates applied to employees working under an employment contract |
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* To increase on regional minimum wage from January 01, 2017 |
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FINANCE – BANKING |
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FINANCE - BANKING |
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Circular No. 31/2016/TT-NHNN dated November 15, 2016 of the State Bank of Vietnam on amending, supplementing a number of articles of the Circular No. 24/2015/TT-NHNN dated December 8, 2015 |
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* To lengthen the term for short-term loans by foreign currency |
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TRANSPORTATION |
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TRANSPORTATION |
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Decree No. 111/2016/ND-CP dated July 01, 2016 of the Government on prescribing business conditions for provision of seagoing ship building, conversion and repair services |
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* General conditions for seagoing ship building |
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SUMMARY:
Ü TAX – FEE – CHARGE
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This is the new content prescribed by the Circular No. 177/2016/TT-BTC issued by the Ministry of Finance on November 01, 2016 providing for fees for issuance of the license to provide international travel services, fees for issuance of tourist guide identification cards, charges for issuance of narrator’s certificates, charges for licensing the establishment of branch offices and/or representative offices of foreign travel service providers in Vietnam, and the collection, transfer, management and use thereof. Accordingly, in previous regulations, the initial fee for pre-issuance inspection and issuance of the License to provide international travel services is VND 2,000,000 per license and the replacement and reissuance fee is VND 1,500,000, from January 01, 2017, the fee for pre-issuance inspection and issuance of the License to provide international travel services (including initial issuance, replacement and |
reissuance) is VND 3,000,000 per license. Similarly, the fee for issuance of the tourist guide identification card (including initial issuance, replacement and reissuance): VND 650,000 per card, while in previous regulations, this fee is VND 4,000,000 per card for domestic travel and VND 650,000 per card for international travel. Particularly, the charge for issuance of the license for establishment of a branch office or a representative office of a foreign travel service provider in Vietnam is VND 3,000,000 per license for initial issuance and VND 1,500,000 per license for replacement, reissuance, extension. And the charge for issuance of the narrator’s certificate (including initial issuance, replacement and reissuance): VND 200,000 per certificate. This Circular takes effect on January 01, 2017 and replaces the Circular No. 48/2010/TT-BTC dated April 12, 2010. |
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On October 28,2016, the Ministry of Finance issued the Circular No. 174/2016/TT-BTC on amending and supplementing point a Clause 4 Article 6 of Circular No. 152/2015/TT-BTC dated October 02, 2015 by the Ministry of Finance providing guidance on resource royalty. Accordingly, from December 12, 2016, taxable price of natural water used for hydroelectricity generation is the average selling price of electricity. Average selling price of electricity for calculating the resource royalty payable by hydroelectricity producers shall be determined according to the retail price of electricity defined by the Ministry of |
Industry and Trade instead of by the Ministry of Finance as previous regulations. With some other cases, the taxable price of natural water still follows the current regulations. In particular, the natural mineral water, natural hot water, bottled/boxed purified natural water, natural water used for production/business that are not for sale, taxable prices shall be imposed by the People’s Committee of the province under the rules, taxable price of timber is the selling price at the depot (where timber is stored or extracted)… This Circular takes effect on December 12, 2016. |
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On October 28, 2016, the Ministry of Finance issued the Circular No. 173/2016/TT-BTC on amending and supplementing the first paragraph of clause 3 Article 15 of Circular No. 219/2013/TT-BTC by the Ministry of Finance (amended by Circular No. 119/2014/TT-BTC, Circular No. 151/2014/TT-BTC and Circular No. 26/2015/TT-BTC by the Ministry of Finance). Bank transfer confirmations are documentary evidence proving the transfer of money from the buyer’s account to the seller’s account opened at providers of payment |
services under legitimate payment methods such as checks, payment orders, cash collection orders, bank cards, credit cards, SIM cards (digital wallets) and other means of payment as prescribed (including the cases in which the buyer transfer money from the buyer’s account to the seller’s account carrying the name of the owner of a private enterprise or from the buyer's account carrying the name of the owner of the enterprise to the seller's account). This Circular takes effect on December 15, 2016. |
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Ü LABOR - SALARY
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On November 14, 2016, the Government issued the Decree No. 153/2016/ND-CP dated November 14, 2016 of the Government providing on regional minimum wage rates applied to employees working under an employment contract, takes effect on January 01, 2017. Accordingly, the regional minimum wage rate applied to employees working for enterprises is VND 3,750,000/ month in the regional minimum wage rate applied to enterprises operating within unit sub-regions of region I; VND 3,320,000/ month in the regional minimum wage rate applied to enterprises operating within sub-regions of region II; VND 2,900,000/ month in the regional minimum wage rate applied to enterprises operating within sub-regions of region III and VND 2,580,000/ month in the regional minimum wage rate applied to enterprises operating within sub-regions of region IV. While in previous regulation, the regional minimum wages applied to enterprises operating |
within sub-regions of region I, region II, region II, region II are in turn VND 3,500,000/month; 3,100,000/month; VND 2,700,000/month; and VND 2,400,000/month. Regional minimum wage rates are the lowest rates used as the basis for any arrangement between enterprises and employees on salary and salary payment in which the wage rate paid employees who work under normal working conditions, meet monthly working hour standards, and fully discharge their obligations for predetermined labor productivity norms or agreed work duties, not less than regional minimum wage rates paid unskilled laborers who perform simplest tasks; greater than at least 7% against the regional minimum wage rates paid skilled laborers who have completed vocational training courses. This Decree replaces the Decree No. 122/2015/ND-CP dated November 14, 2015. |
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Ü FINANCE – BANKING
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This content is prescribed at the Circular No. 31/2016/TT-NHNN of the State Bank of Vietnam on amending, supplementing a number of articles of the Circular No. 24/2015/TT-NHNN dated December 8, 2015 of the State Bank of Vietnam on foreign currency loans granted to residents by credit institutions and branches of foreign banks. In particular, short-term loans granted to meet domestic enterprises’ demands for short-term capital to serve the purpose of implementing their plans to manufacture and/or trade goods exported through Vietnam’s border checkpoints when borrowers’ foreign currency derived from the export |
turnover is sufficient to repay such loans; on receipt of loans disbursed by credit institutions, borrowers shall sell such borrowed foreign currency to the lending credit institutions in the form of a foreign-exchange spot transaction, unless the loans borrowers are used by the borrowers to make payments in which foreign currency is compulsory as stipulated by laws. The regulation shall be effective till the end of December 31, 2017 instead of December 31, 2016 as in previous regulations. This Circular takes effect on January 01, 2017 and replaces the Circular No. 07/2016/TT-NHNN dated May 27, 2016. |
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Ü TRANSPORTATION
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On July 01, 2016, the Government issued the Decree No. 111/2016/ND-CP prescribing business conditions for provision of seagoing ship building, conversion and repair services. In accordance with regulations, from July 01, 2016, a shipyard must have a technical division and a quality inspection division which are separate from each other and meet the requirements on seagoing ship building and conversion; each division must have the minimum number of workers. For a grade-1 shipyard: 4 workers possessing a university degree in shipbuilding, 4 workers possessing a university degree in ship engine, and 2 workers possessing a university degree in ship electricity; For a grade-2 shipyard: 2 workers possessing a university degree in shipbuilding, 2 workers possessing a university degree in ship engine, and 1 worker possessing a university degree in ship electricity. A technical or quality inspection worker must have at least 24 months’ experience in seagoing ship building, conversion or repair. A shipyard that builds metal-hulled ships must have at least 5 metal welders, 2 mechanics, 3 electricians and 3 painters as required by the national technical regulation applicable to seagoing ship building and repair establishments. A metal welder must |
possess an appropriate professional certificate as required by the national technical regulation on classification and building of seagoing ships or the equivalent. A shipyard that build non-metal-hulled ships must have at least 3 shell manufacturers, 1 mechanic, 1 electrician and 2 painters as required by the national technical regulation applicable to seagoing ship building and repair establishments. When the notice of an establishment’s eligibility for seagoing ship building, conversion and repair expires, or when the establishment requests modification or supplementation of the recognized qualified items, a dossier shall be submitted for re-recognition of the establishment to be eligible for seagoing ship building, conversion and repair to the Vietnam Register. A notice of an establishment’s eligibility for seagoing ship building, conversion and repair is valid for 5 years from the date of its issuance. This Decree takes effect on the signing date. Seagoing ship building, conversion and repair establishments formed before July 1, 2016, may continue their operation and must fully satisfy the conditions prescribed in this Decree as from July 1, 2019. |
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