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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. 133/2014/TT-BTC dated September 11, 2014 of the Ministry of Finance guiding the collection, payment, management and use of road user charges for vehicles |
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Maximum charge rates for motorcycles is VND 150.000/year |
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FINANCE – BANKING |
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FINANCE - BANKING |
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Circular No. 146/2014/TT-BTC dated October 06, 2014 of the Ministry of Finance guiding the financial regime for securities companies and fund management companies |
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Fund management companies be prohibited from using raised capital for financial investment |
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MEDICAL – HEALTH |
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MEDICAL - HEALTH |
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Circular No. 43/2014/TT-BYT dated November 24, 2014 of the Ministry of Health on prescribing the functional foods management |
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Functional foods must have the separate area in the pharmacy |
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INFORMATION – COMMUNICATIONS |
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INFORMATION - COMMUNICATIONS |
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Circular No. 16/2014/TT-BTTTT dated November 18, 2014 of the Ministry of Information and Communications on identifying the software production |
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Must declare income in software production |
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ECONOMIC – SOCIAL POLICIES |
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ECONOMIC – SOCIAL POLICIES |
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5 |
Circular No. 05/2014/TT-BKHDT dated September 30, 2014 of the Ministry of Planning and Investment guiding the implementation of the Government’s Decree No. 210/2013/ND-CP of December 19, 2013, on incentive policies for enterprises investing in agriculture and rural areas |
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Agricultural enterprises shall be supported with VND 1 million/m2 in building factory |
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SUMMARY:
Ü TAX – FEE – CHARGE
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In accordance with the Circular No. 133/2014/TT-BTC dated September 11, 2014 of the Ministry of Finance guiding the collection, payment, management and use Also from November 01, 2014, the road user charge rates for trucks are adjusted increasingly in the four levels: VND 590.000/month for trucks with its own weight and pulled permissible weight of up to under 19,000 kg; VND |
720.000/month for trucks with its own weight and pulled permissible weight from 19,000 kg to under 27,000 kg; VND 1.040.000/month for trucks with its own weight and pulled permissible weight from 27,000 kg to under 40,000 kg and VND 1.430.000/month for trucks with its own weight and pulled permissible weight of 40,000 kg or more. Other important content is that transport business enterprises and cooperatives which have a payable charge of VND 30 million or more per month may declare and pay charges on a monthly basis. Particularly, cars being confiscated or having their registration certificates and number plates revoked; being damaged in accidents so seriously that they can no longer be circulated without repair for and cars used for transport business of transport business cooperatives and enterprises which are suspended from circulation for 30 or more consecutive days are not liable to road user charge. This Circular takes effect on November 01, 2014. |
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Ü FINANCE - BANKING
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This is one of the contents prescribed at the Circular No. 146/2014/TT-BTC dated October 06, 2014 of the Ministry of Finance guiding the financial regime for securities companies and fund management companies, branches of foreign fund management companies licensed to be established and operate in Vietnam. Accordingly, securities companies and fund management companies shall manage, use and keep track of all existing assets and capital, and conduct accounting under current accounting regulations; fully, accurately and promptly reflect the use and developments of capital and assets in the course of business operation, clearly define responsibility of and sanctions against sections and individuals that cause damage to or loss of assets and capital of these companies. Particularly, fund management companies shall use only their equity capital for their financial investment activities and be prohibited from using raised capital for financial investment. |
Also in accordance with this Circular, Securities companies and fund management companies shall maintain financially prudential ratios, ensure their solvency and comply with relevant provisions. Financial prudence may be ensured through purchasing professional liability insurance or setting aside investor protection fund/hedging and loss-offsetting fund; setting aside securities write-down provision; setting aside provision for loss of long-term financial investments; setting aside financial and professional risk provision and setting aside non-performing loan provision as prescribed for enterprises. Within that, a provision for loss of long-term financial investments shall be set aside at the end of an accounting period when annual financial statements are made. In case the actual value of securities cannot be determined, securities companies and fund management companies may not set aside the securities write-down provision. This Circular takes effect on November 21, 2014, and applies from the fiscal year of 2014. |
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Ü HEALTH - MEDICAL
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On November 24, 2014, the Ministry of Health issued the Circular No. 43/2014/TT-BYT on prescribing the functional foods management including supplemented foods, health protection foods, medical foods and foods used for special dietary uses; not apply to nutritional formula for children. At this Circular, the Ministry of Health requires that there must be a declaration of conformity and registration of declaration of conformity at the Ministry of Health for imported and domestically produced functional foods that are regulated by technical regulations before they are put on the market. And there must be a declaration of compliance to food safety regulations and registration of declaration of compliance to food safety regulations at the Ministry of Health for imported and domestically produced functional foods that are not regulated by any technical regulations before they are put on the market. Any pharmaceutical manufacturer that has obtained the Certificate of Good Manufacturing Practices (GMP) in producing functional foods shall be exempt from obtainment of the Certificate of Food safety. There must be a separate area in the pharmacy where functional foods are sold. |
Besides complying with regulations on labeling packaged foods with the name, the composition and the mandatory label contents, labeling functional foods for each specific food groups must also warn of risks, if any and the name of the product and the information on the label must be consistent with the claims and materials attached to the declaration document. Particularly, labels of health supplements must have the phrase: “Attention: This product is not a medicine, and is not a substitute for medicines” right after the product’s effects or with other recommendations (if any). This phrase must have a contrasting color to the background color of the label and the letters must be at leapt 1.2 millimeters. The letters must be at least 0.9 millimeters if one side of the package is smaller than 80 square centimeters. In main side of the label of medical foods and foods for special dietary, there must be a phrase expressing the food group as “dietary products (for specific users)” to distinguish ordinary foods from foods for special dietary uses. This Circular takes effect on January 15, 2015 and replaces Circular No. 08/2004/TT-BYT dated August 23, 2004. |
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Ü INFORMATION - COMMUNICATIONS
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The Ministry of Information and Technology issued the Circular No. 16/2014/TT-BTTTT dated November 18, 2014 on identifying the software production; within that, the most important content is the requirements applied to software producers. Accordingly, organizations and companies must have Certificates of Business registration, certificates of investment, or written appointments issued by competent persons. Individuals must have taxpayer ID numbers and tax declarations specifying the income from software production. And the software products produced are on the List of software products promulgated together with Circular No. 09/2013/TT-BTTTT. |
Also in accordance with this Circular, every entity engaged in software production prescribed in this Circular is obliged to take responsibility for the authenticity of information in the declarations as well as the identification of their software production; send a report on software production to the Ministry of Information and Communications (Information Technology Administration) by every March 15, according to applicable regulations and ensure that the software production and software products do not violate regulations of law on intellectual property and relevant laws. This Circular takes effect on January 02, 2015. |
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Ü ECONOMIC – SOCIAL POLICIES
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In accordance with the Circular No. 05/2014/TT-BKHDT issued by the Ministry of Planning and Investment on September 30, 2014 guiding the implementation of the Government’s Decree No. 210/2013/ND-CP of December 19, 2013, on incentive policies for enterprises investing in agriculture and rural areas. Enterprises may select the compliance with the current capital construction investment process: To be applied on the condition that provincial-level People’s Committees (or agencies authorized by provincial-level People’s Committees) approve designs and cost estimates of items or works under projects entitled to support or approve designs and total cost estimates of the whole projects before such items, works or projects are implemented. Besides, the enterprise may select the self-implementation: Enterprises shall approve designs and cost estimates under general regulations, divide their projects into different |
investment items or bidding packages at their own will; and organize the implementation of items or works entitled to supports (they may decide to hire or not to hire contractors). In this case, enterprises shall receive supports at the levels. Projects implemented before February 10, 2014, the effective date of Decree No. 210/2013/ND-CP, and meeting the conditions for incentives and supports may receive incentives and supports to enjoy incentives and supports for their remaining duration, counted from February 10, 2014; supports will be provided only to investment items and bidding packages implemented after February 10, 2014. Investment items and bidding packages implemented before February 10, 2014, will not be retroactively provided with supports. This Circular takes on November 14, 2014 and replaces Circular No. 06/2011/TT-BKHDT of April 6, 2011. |
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