Legal Document Updates in English (48/2021)

EXTEND THE TIME LIMIT FOR EXCISE TAX PAYMENT
OF DOMESTICALLY MANUFACTURED AUTOMOBILES

The Government issues the Decree No. 104/2021/ND-CP prescribing the extension of time limit for excise tax payment of domestically manufactured or assembled automobiles on December 04, 2021.

Specifically, to extend the time limit for payable excise tax amount incurred in the tax periods of October and November of 2021, for domestically manufactured or assembled automobiles. The extension time is from the end of the time limit for excise tax payment in accordance with laws on tax administration, specifically as follows: The time limit for paying the payable excise tax arising in the October 2021 tax period is no later than December 20, 2021; The time limit for paying the payable excise tax arising in the November 2021 tax period is no later than December 30, 2021.

Besides, in case the taxpayers make an additional declaration to the tax declaration dossier of the extended tax period, which leads to an increase in the payable excise tax

amount and submit it to the tax authorities before the extended tax payment time limit expires, the extended tax amount includes the additional tax payable due to the additional declaration.

In case taxpayers are eligible for extension to declare and submit excise tax declarations in accordance with current law provisions, they shall not yet have to pay the payable excise tax amount stated in the filled-in excise tax declarations. Taxpayers shall determine and take responsibility on requesting to extension for the right beneficiaries according to provisions of this Decree. If the taxpayers send the written application for extension of the time limit for excise tax payment to the tax agencies after December 15, 2021, the time limit for excise tax payment shall not be extended according to the provisions of this Decree.

This Decree takes effect from the date of its signing.

FROM 2022, AN INDIVIDUAL ONLY HAVING ASSET LEASE ACTIVITIES
MAY BE EXEMPTED FROM VAT AND PIT

On November 15, 2021, the Ministry of Finance promulgates the Circular No. 100/2021/TT-BTC amending and supplementing a number of articles of the Minister of Finance’s Circular No. 40/2021/TT-BTC of June 01, 2021, providing guidance on value-added tax, personal income tax, and tax administration for business households and business individuals.

According to new regulations, presumptive tax-applying households whose payable presumptive tax amounts are notified by tax offices from the beginning of a year shall pay taxes as notified. Presumptive tax-applying households having just commenced their business activities (having carried out business activities for less than 12 months in a calendar year) shall be liable to pay VAT, and shall pay PIT if the turnover from their business activities per year exceeds VND 100 million; or shall not be liable to pay VAT, and are not required to pay PIT if the turnover from their business activities per year is up to VND 100 million.

REDUCE 10% OF LOAN INTEREST RATES FOR POLICY CREDIT PROGRAMS
UNTIL THE END OF DECEMBER 31, 2021

This content is defined in the Decision No. 1990/QD-TTg dated November 26, 2021 of the Prime Minister on reducing the loan interest rates for policy credit programs at the Vietnam Bank for Social Policies.

Specifically, the loan interest rates for policy credit programs at the Vietnam Bank for Social Policies which is regulated by the Prime Minister shall be reduced by 10%. The Vietnam Bank for Social Policies shall enhance measures to balance operation expenses to reduce loan interest rates within the plan of capital offsetting interest rate differences and management charges assigned in 2021.

ADD REGULATIONS ON ISSUING CARDS BY ELECTRONIC MEANS

The Circular No. 17/2021/TT-NHNN amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations is issued by the State Bank of Vietnam on November 16, 2021.

To be specific, card issuers must develop, issue and publicize the process and procedures for issuing cards of individuals by electronic means in accordance with the regulations, law regulations on anti-money laundering, law regulations on electronic transactions, relevant law regulations on ensuring safety, confidentiality of customer information and the operational safety of card issuers.

RESTAURANTS MUST PUBLICIZE PHONE NUMBERS OF THE OFFICERS
IN CHARGE OF COVID-19 PREVENTION AND CONTROL

The Ministry of Health promulgates the Decision No. 5619/QD-BYT prescribing “Guidance on prevention, control and risk assessment of COVID-19 infection at shopping centers, supermarkets, markets and restaurants” on December 07, 2021.

Specifically, a service area’s management unit must assign and publicize the names and phone numbers of the officers in charge of COVID-19 prevention and control at the service area so that employees/workers, sellers and customers are aware of and are able to contact them when necessary; create a QR code or medical declaration form for pandemic control and provide masks and hand sanitizers at the entrance to the service area, etc.

FROM 2022, THE PRICE OF FIRST-TIME LISTING REGISTRATION SERVICE FOR STOCKS
SHALL BE 10 MILLION DONG

On November 17, 2021, the Ministry of Finance promulgates the Circular No. 101/2021/TT-BTC on prescribing prices of services in the field of securities applicable to the Stock Exchanges and the Vietnam Securities Depository and Clearing Corporation.

According to this Circular, the price of first-time listing registration service for stocks, enterprise bonds, investment fund certificates, debt instruments prescribed in the Law on Public Debt Management is 10 million dong. The price of first-time listing registration service for covered warrants is 5 million dong; etc.

In case a member of a Stock Exchange has its transactions suspended or terminated or its online connection suspended by the Stock Exchange for a period lasting into the following year but its status of member is not canceled, it must pay for the use of services of member management, management

AMEND REGULATIONS ON REFUND OF DEPOSITS
AFTER REVOCATION OF TRAVEL SERVICE BUSINESS LICENSES

The Circular No. 13/2021/TT-BVHTTDL amending and supplementing a number of articles of the Circular No. 06/2017/TT-BVHTTDL dated December 15, 2017 of the Minister of Culture, Sports and Tourism on detailing a number of articles of the Law on Tourism is issued by the Ministry of Culture, Sports and Tourism on November 30, 2021.

Accordingly, after 30 days from the date of publishing the decision on revocation of the travel service business license on the portal of the licensing agency and the website for management of travel service enterprises, in case there is no complaint or denunciation about the enterprise’s obligations toward tourists or tourist service-providing establishments, the licensing agency shall send a written request to the bank so that the enterprise may withdraw its deposit. According to

HANOI: PANDEMIC PREVENTION AND CONTROL MEASURES
UNDER THE “FOUR-ON-THE-SPOT” MOTTO

Hanoi People's Committee promulgates the Official Dispatch No. 4358/UBND-KGVX on implementing COVID-19 pandemic prevention and control measures under the “four-on-the-spot” motto on December 05, 2021.

Specifically, to quickly deploy mobile health stations to receive, quarantine, manage, monitor and treat people infected with COVID-19 at home and at establishments receiving infected persons of districts and towns. To review and continue to effectively implement at-home quarantine for F1 cases according to the City’s guidance and the Official Dispatch No. 5599/BYT-MT dated July 14, 2021.

Also, establish “support teams monitoring people infected with COVID-19 at home” to support mobile health stations to