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| NUMBER | TITLE |
| In This Updates: | |
TAX – FEE – CHARGE |
| TAX – FEE – CHARGE | |||
1 |
|
| * To impose import duty rates of 0% on imported auto parts | Page 2 | |
LABOR – SALARY |
| LABOR – SALARY | |||
2 |
|
| * Time for technical inspection of occupational safety of boilers | Page 2 | |
FINANCE – BANKING |
| FINANCE – BANKING | |||
3 |
|
| * Procedures of re-granting the license of bank’s operation | Page 2 | |
4 | Decree No. 122/2017/ND-CP dated November 13, 2017 of the Government on financial management and performance assessment of lottery enterprises, stock exchanges and Vietnam securities depository |
| * Tax obligations by Vietlott | Page 3 | |
AGRICULTURE – FOREST |
| AGRICULTURE - FOREST | |||
5 | Circular No. 20/2017/TT-BNNPTNT dated November 10, 2017 of the Ministry of Agriculture and Rural Development guiding the Government’s Decree No. 39/2017/ND-CP dated April 04, 2017 on management of feeds |
| * New feeds must undergo testing | Page 3 | |
SUMMARY:
Ü TAX – FEE – CHARGE
| ||
On November 16, 2017, the Government issued the Decree No. 125/2017/ND-CP on amending a certain Articles of the Government’s Decree No. 122/2016/ND-CP dated September 01, 2016 on export duty schedule, preferential import duty schedule and lists of commodities and their flat tax rates, compound tax rates and outside tariff quota rates. One of the content of this Decree is the regulations on Preferential import duty rates imposed on imported auto parts of motor vehicles according to the tax incentive program. Accordingly, The import 0% duty shall be imposed on imported auto parts | To receive the import 0% duty, enterprises must make a commitment to manufacture and/or assemble motor vehicles; the auto parts of motor vehicles cannot be manufactured domestically… If the enterprise satisfies sufficient conditions for participating in the Program and it has paid duties on imported auto parts of motor vehicles greater than duties payable calculated according to the tax rates, the customs authority will deal with the redundant taxes in accordance with regulation of law on tax management and its instructional documents. This Decree takes effect on January 01, 2018. | |
Ü LABOR – SALARY
| ||
On July 26, 2017, the Ministry of Industry and Trade issued the Circular No. 10/2017/TT-BCT on procedures for technical inspection of occupational safety of machinery, equipment and supplies subject to strict occupational safety requirements under the management of Ministry Of Industry and Trade. To attach with this Circular 18 inspection procedures, within that having the Procedures for technical inspection of occupational safety of boilers operating above 16 bar pressure, QTKD:01-2017/BCT. Besides, the Circular also has regulations on procedures for technical inspection of occupational safety of pressure vessels; bulk LPG (liquefied petroleum gas) tanks; pipe lines for steam and hot water; | metallic rigid gas pipelines; LPG (liquefied petroleum gas) cylinder filling system. Certificates of inspection results of machinery, equipment and supplies which are subject to strict occupational safety requirements and have been technically inspected before September 15, 2017. 3. Periodic inspection of machinery and equipment of an operating line which cannot be disassembled for separate inspection shall be subject to the maintenance period of the line provided that it must conform to prescribed inspection period announced by manufacturers or specified in relevant national technical regulations. This Circular takes effect on September 15, 2017. | |
Ü FINANCE – BANKING
| ||
Circular No. 17/2017/TT-NHNN on amending, supplementing a number of articles of the Circular 40/2011/TT-NHNN issued by the State Bank of Vietnam on November 20, 2017 on principles of requesting for licensing, supplementing the license; License for representative offices (hereafter called License). In particular, the State Bank of Vietnam emphasizes that the State Bank shall not grant permits for operations that commercial banks, foreign bank’s branches are not permitted as stipulated by current law; The new license shall replace all licenses, approval (that is a part that cannot be separated with the license) granted by the State Bank. | For business operation of providing foreign exchange services, doing business on gold, providing derivative products on foreign currency, other financial assets in the domestic market and in the international market, granting permits shall be implemented according to specific regulations as stipulated by the State Bank and other regulations. If the commercial banks, foreign bank’s branches request for supplementing contents of the license and re-granting the license, the State Bank shall consider on re-granting the license. This Circular takes effect on January 05, 2018. | |
| ||
At the Decree No. 122/2017/ND-CP on financial management and performance assessment of lottery enterprises, stock exchanges and Vietnam securities depository; Government has issued an article on rules for discharge of obligations to state budget by Vietlott. In particular, Vietlott shall assume responsibility to comply with the regulations such as an authorized unit at its head office shall make statements of value-added tax, special excise duty and corporate income tax. Based on amounts of taxes payable by type, Vietlott shall determine and make payment of taxes to each provincial-government state budget in proportion to the actual revenue from sales of lottery tickets in such province or city; an authorized unit at its head office shall deduct amounts of personal income tax payable, make personal income tax statements and make payments of personal income tax to provincial-government state budgets in accordance with regulations of law. To be specific: Amounts of personal income tax on commissions earned by a lottery agent shall be paid to the state budget | of province or central-affiliated city where that lottery agent has taxable income. Amounts of personal income tax on prize money of a winner shall be paid to the state budget of province or central-affiliated city where that winning player registers to play games via the telephone or internet, or where the lottery terminal which has provided the winning lottery ticket is located. A lottery enterprise is only allowed to make investments in industries/sectors directly relating its lottery business. When making declaration of the corporate income tax, the lottery enterprise may record the following expenses as its deductible expenses such as prize expenses; agent commissions; fees of authorization for payment to prize winners; drawing cost and supervisory fee; contributions towards preventing illegal numbers game and issuance of fake lottery tickets; contributions to prize reserve fund. This Circular is issued on November 13, 2017, takes effect on January 01, 2018. | |
Ü AGRICULTURE – FOREST
| ||
On November 10, 2017, the Ministry of Agriculture and Rural Development issued the Circular No. 20/2017/TT-BNNPTNT guiding the Government’s Decree No. 39/2017/ND-CP dated April 04, 2017 on management of feeds. Accordingly, new feeds must undergo testing following suitable procedures. In case procedures are yet to be promulgated, testing shall be carried out following the procedures established by the testing facility and approved by the testing outline assessment council. The veterinary medicines used in feeds for the purpose of livestock and poultry disease prevention and treatment must be specified in the list of veterinary medicines that are licensed in Vietnam or allowed by a competent authority to be used for livestock and poultry disease prevention and | treatment. Veterinary medicines used in feed during the processing must ensure its quality, safety and efficacy over the shelf life of the feed. Users of antibiotic-containing veterinary medicines in feeds for the purpose of young/immature livestock and poultry disease prevention and livestock and poultry disease treatment are not required to specify names and contents of the antibiotics in the applied standards and product label samples when registering feed products licensed in Vietnam but have to specify names and contents of antibiotics, instructions for use and dosing interval on the label or secondary label and package or attached documents, and retain the abovementioned information in the production records. This Circular takes effect on December 25, 2017. | |
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