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NUMBER |
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. 208/2012/TT-BTC dated November 30, 2012 of the Ministry of Finance amending the preferential import tax rates on commodities being aviation spirit, fuel in heading 2710 in preferential import tariff |
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From November 30, reducing the import tax rate on aviation turbine fuel to 7% |
Page 2 |
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LABOR – SALARY |
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LABOR - SALARY |
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2 |
Decree No. 103/2012/ND-CP dated December 04, 2012 of the Government stipulating region-based minimum wage levels for laborers working for companies, enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers |
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From January 01, 2013, region-based minimum wage’s level increased to 250,000 VND/month |
Page 2 |
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FINANCE – BANKING |
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FINANCE - BANKING |
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3 |
Decree No. 101/2012/ND-CP dated November 22, 2012 of the Government non-cash payments |
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Requirements for providing payment intermediary services |
Page 2 |
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4 |
Decision No. 1601/QD-TTg dated October 29, 2012 of the Prime Minister approving scheme to improve efficiency of management work of current foreign investment in Vietnam |
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Improving management efficiency of FDI flows into Vietnam |
Page 3 |
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CONSTRUCTION |
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CONSTRUCTION |
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5 |
Circular No. 09/2012/TT-BXD dated November 28, 2012 of the Ministry of Construction stipulating on use of non-baked building materials in construction works |
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Force to use non-baked building materials in construction works |
Page 3 |
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INDUSTRY |
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INDUSTRY |
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6 |
Circular No. 32/2012/TT-BCT dated November 12, 2012 of the Ministry of Industry and Trade regulation on implementation of wind power project development and power purchase and sale contract form for wind power projects |
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Wind power works must be 300m away from the residential area
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Page 3 |
SUMMARY:
Ü TAX – FEE – CHARGE
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On November 30, 2012, the Ministry of Finance issued the Circular No. 208/2012/TT-BTC amending the preferential import tax rates on some commodities being aviation spirit, fuel in heading 2710 in Preferential import tariff. Accordingly, from November 30, 2012, aviation turbine fuel (jet fuel) having a flash point of 23 oC or more and aviation turbine fuel (jet fuel) having a flash point of less than 23 oC are applied the preferential import tax rates at 7% (the previous regulations under the Circular No. 148/2012/TT-BTC are 12% - 10% respectively). |
The preferential import tax rates on motor spirit still keep at the same rate as the previous regulations. Specifically: RON 97, RON 95 and solvent spirits are 12%; Topped crude, lubricating oils and greases are 5%; Hydraulic brake fluid is 3%. Waste oil is still applied at the highest rate at 20%. This Circular takes effect as from the day of signing and replaces the Circular No. 148/2012/TT-BTC dated September 11, 2012 |
Ü FLABOR - SALARY
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On December 04, 2012, the Government issued the Decree No. 103/2012/ND-CP stipulating on region-based minimum wage levels for laborers working for companies, enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers. Accordingly, from January 01, 2012, the region-based minimum wage levels are applied to enterprises as follows: The level of VND 2,350,000/month applies to enterprises operating in localities of region I; The level of VND 2,100,000/month applies to enterprises operating in localities of region II; The level of VND 1,800,000/month applies to enterprises operating in localities of region III; The level of VND 1,650,000/month applies to enterprises operating in localities of region IV (according to the previous Decree, the region-based minimum wage levels are |
2,000,000 – 1,750,000 – 1,550,000 – 1,400,000 VND/month). So, the region-based minimum wage level increases by 250,000-350,000 VND/month. The region-based minimum wage levels are basis for enterprises and laborers making agreement on wage ensuring the monthly wage levels paid to untrained laborers working simplest jobs, under normal working conditions; to adjust wage levels in wage scales and tables, wage allowances, wage levels in labor contracts. Laborers who have received vocational training (including laborers trained by enterprises themselves) must be at least 7% higher than the region-based minimum wage levels. This Decree takes effect from January 20, 2013 and replaces the Government’s Decree No. 70/2011/ND-CP, of August 22, 2011. |
Ü IFINANCE - BANKING
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On November 22, 2012, the Government issued the Decree No. 101/2012/ND-CP on non-cash payments. Of which, one of the contents is regulation on requirements for providing for providing payment intermediary services. Specifically, the organizations not being banks that wish to provide payment intermediary services must satisfy the following requirements: Having a License for establishment or Certificate of business registration issued by competent State agencies, in which the provision of payment intermediary services is one of their primary businesses; Having an approved plan for payment intermediary service provisions in accordance with the regulations on investment authority prescribed in their charter; Having at least 50 billion VND of charter capital… |
Besides, the following acts such as forging, falsifying, replacing payment facilities, payment documents; storing, circulating, transferring, and using fake payment facilities; Intruding or attempting to intrude, sabotage, or illegally changing the software and electronic database used in payment; taking advantage of the computer network errors to make profit; Provide inaccurate information during the provision and use of payment services and payment intermediary services; Opening or holding anonymous or impersonation payment accounts are prohibited since March 26, 2012. |
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On October 29, 2012, the Prime Minister issued the Decision No. 1601/QD-TTg Approving the Scheme "Improving the efficiency of the management of foreign direct investment flows into Vietnam". Accordingly, with a view to improving the efficiency of inspection and monitoring of capital flows in and out, promptly and accurately building database on foreign direct investment capital flows to meet the requirements of the analysis, forecasting and policy planning and administration of the foreign exchange market, s reasonable stability of payment balance, and increasing of foreign exchange reserves, the Prime Minister pointed out some tasks and strategies. |
Specifically, the Prime Minister requested Ministries, sectors to study characteristics and nature of foreign investment capital flows into Vietnam (including contributed capital flow, foreign and domestic loan capital flows …) and the capital flow transferred abroad of capital invested enterprises commonly understood as foreign direct investment capital flows; Completing the legal framework related to the management of foreign direct investment flows; To strengthen the legal basis for the inspection, examination and monitoring to the extent relating to the management of FDI flows as promulgating legal normative documents stipulating the inspection, monitoring and assessment of foreign direct investment ... |
Ü CONSTRUCTION
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On November 28, 2012, the Ministry of Construction issued the Circular No. 09/2012/TT-BXD stipulating on use of non-baked building materials in construction works. |
The construction works with 9 floors or more, not depend on capital sources, from now by 2015, must use not less than 30% and after 2015, must use not less than 50% of lightweight non-baked building materials in total used building materials. The works having been granted the construction permit or approved projects by competent authorities before this Circular comes into effect, such works may comply with the granted permits or approved decisions; investors are encouraged to change design by themselves for use of non-baked materials. This Circular takes effect on January 15, 2013. |
Ü INDUSTRY
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On November 12, 2012, the Minister of Industry and Trade issued the Circular No. 32/2012/TT-BCT stipulating the implementation of wind power development and power purchase contract form for the wind power projects. Accordingly, wind power projects are built only when they meet the conditions prescribed by law on the management of works construction investment and ensure the following conditions: Having investment certificate; having power purchase contract signed with the buyer. Wind power projects must meet the requirement on environmental protection; specifically, wind power works must not violate the archaeological, historical relics and cultural, religious sites, sensitive ecological areas, natural conservation areas; Wind power works must be 300m away from the residential area; Turbine and power tower column have bright and non-reflective color. No advertising is done on wind power turbines. |
Besides, within twelve months from the date of issuance of the investment certificate, if the investor does not start the construction of the main items of the works, the provincial-level People's Committee shall consider revoking the investment certificate and make report to the Ministry of Industry and Trade. A maximum of twenty-four months from the date of commitment of operation in the investment certificate, if the project is not put into operation of power generation, the provincial-level People's Committee shall consider the decision to terminate the investment project, and revoke investment certificate and not take responsibility for compensation for damages to investors. This Circular takes effect from December 27, 2012. |
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