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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. 259/2016/TT-BTC dated November 11, 2016 of the Ministry of Finance on the rate, collection, submission, administration and use of the fee for verification of documents and the charge for licensing of the export of Vietnamese workers on contract basis |
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* Charge for licensing of the export of workers in overseas term employment 5 million/time |
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Circular No. 222/2016/TT-BTC dated November 10, 2016 of the Ministry of Finance on the rate, collection, submission, administration and use of the fees for verification of criteria and conditions for the practice of commercial arbitration |
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* Fee for verification of conditions for a commercial arbitration center establishment 3 million/time |
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FINANCE - BANKING |
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FINANCE - BANKING |
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Decree No. 156/2016/ND-CP dated November 21, 2016 of the Government on amending the Decree No. 27/2007/ND-CP dated February 23, 2007 of the Government on e-transactions in financial activities |
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* Digital certificates that are used in financial operations |
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COMMERCE |
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COMMERCE |
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Circular No. 233/2016/TT-BTC dated November 11, 2016 of the Ministry of Finance amending, supplementing a number of Articles of the Circular No. 56/2014/TT-BTC … |
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* From 2017, the Ministry of Industry and Trade shall in charge of management of milk price |
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POLICIES |
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POLICIES |
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Resolution No. 27/2016/QH14 dated November 11, 2016 of the National Assembly on state budget estimates of 2016 |
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* From July 01, 2017, increase base salary to VND 1.3 million/month |
Page 3 |
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Resolution No. 24/2016/QH14 dated November 08, 2016 of the National Assembly on economic restructuring plan 2016 - 2020 |
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* Accelerate to downsize the payroll |
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SUMMARY:
Ü TAX - FEE - CHARGE
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According to Circular No. 259/2016/TT-BTC dated November 11, 2016 of the Ministry of Finance on the rate, collection, submission, administration and use of the fee for verification of documents and the charge for licensing of the export of Vietnamese workers on contract basis, charge for new licensing of the export of Vietnamese workers in overseas term employment is VND 5,000,000/time; in case of replacement or reissuance, the charge is VND 2,500,000/time. Also in accordance with this Circular, fee for verification of a document upon request of an overseas employer of |
Vietnamese worker in Taiwan is TWD 1,000/document and MYR 100/document in Malaysia; fee for verification of a document upon request of a Vietnamese person working in Taiwan or Japan is VND 100,000/document. Individuals from poor and near-poor households and individuals from ethnic minority groups in economically and socially underdeveloped communes shall be exempted from the fee for verification of documents upon request of Vietnamese persons working in Taiwan and Japan. This Circular takes effect on January 01, 2017. |
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On November 10, 2016, the Ministry of Finance issued Circular No. 222/2016/TT-BTC on the rate, collection, submission, administration and use of the fees for verification of criteria and conditions for the practice of commercial arbitration. Accordingly, fee for verification of criteria and conditions for the establishment of a commercial arbitration center is VND 3,000,000/time; fee for verification of criteria and conditions for amendment to the registration of establishment of a commercial arbitration center is VND 1,000,000/time; fee for verification of conditions for |
operation of a commercial arbitration center is VND 1,500,000/time. With regards to a Vietnam-based branch of a foreign arbitration center, fee for verification of conditions for establishment is VND 10,000,000/time; fee for verification of conditions for amendment to the registration of establishment is VND 4,000,000/time; fee for verification of conditions for operation is VND 5,000,000/time and fee for verification of conditions for amendment to the registration of operation is VND 3,000,000/time… This Circular takes effect on January 01, 2017. |
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Ü FINANCE - BANKING
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This is the new content of Decree No. 156/2016/ND-CP dated November 21, 2016 of the Government on amending the Decree No. 27/2007/ND-CP dated February 23, 2007 of the Government on e-transactions in financial activities. In particular, digital certificates that are used in digital signatures in financial operations between organizations, individuals and financial authorities: Digital certificates issued by providers of public authentication of digital signatures; digital certificates issued by providers of authentication of digital signatures serving the agencies of the political system; foreign digital certificates that are accredited; foreign digital certificates that are accepted in Vietnam; foreign digital certificates that are accepted in international transactions. |
Conditions, scope and eligible entities of each digital certificate in financial operations shall be specified in accordance with law on digital signatures and authentication of digital signatures. Financial authorities entering into e-transactions shall be legally bounded by international treaties on digital signatures to which the Socialist Republic of Vietnam is a signatory. E-transactions in financial activities under the Ministry of Finance’s management for which digital signatures are compulsory shall be specified by the Ministry of Finance. This Decree takes effect on January 10, 2017. |
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Ü COMMERCE
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This is an important content of Circular No. 233/2016/TT-BTC dated November 11, 2016 of the Ministry of Finance amending, supplementing a number of Articles of the Circular No. 56/2014/TT-BTC dated April 28, 2014 of the Minister of Finance guiding the Government’s Decree No. 177/2013/ND-CP of November 14, 2013, detailing and guiding the implementation of a number of articles of the Law on Prices. In particular, from January 01, 2017, entities required to register prices of milk for kids under six years old shall comply with the guidance of the Ministry of Industry and Trade; prices of preventive and curative medicines for human use on the list of essential curative medicines and agencies receiving price registration forms still comply with the guidance of the Ministry of Health. With regards to the rights and responsibilities of organizations and individuals in price declaration, they have |
right to purchase and sell goods and services at the declared prices from the date of making price declaration that organizations and individuals write in the documents sent to the document-receiving agencies; make price declaration in accordance with law; take responsibility before law for the accuracy of declared prices; comply with the report on declared price at the request of the document-receiving agencies. Especially, not to apply declared prices in the purchase and sale of goods and services before the date of implementation as stipulated; take responsibility to publicize information on declared prices; to publicize and post up declared prices within their distribution systems (if any); to comply with declared prices; to abide by price valorization measures applied by competent state agencies in accordance with law… This Circular takes effect on January 01, 2017. |
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Ü POLICIES
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This is one of tasks of Government at Resolution No. 27/2016/QH14 dated November 11, 2016 of the National Assembly on state budget estimates of 2016. In particular, the National Assembly requested the Government to direct the conduct and implementation of laws on tax and promptly provide guidance on the conversion of a number of types of charge to service prices according to law; strengthen the investigation and inspection of taxation; prevent the loss of revenue, smuggling, trade frauds, production and trade of counterfeits, price transfer and tax evasion; promptly discover and handle the unconformable declaration, fraud or evasion of taxes; minimize the promulgation of new policies which lead to the decrease of the State budget revenue. |
Especially, from July 01, 2017, shall adjust the base salary from VND 1.21 million per month to VND 1.3 million per month, increase the retirement pension, social insurance allowance and benefit to people meritorious to the Revolution an amount equal to the increase in the base salary. Concurrently, save thoroughly on recurrent expenditure of each Ministry, central and local authorities; minimize the expenditure on the organization of conferences, seminars, festivals; limit the expenditure on overseas research/survey trips; limit the expenditure on purchase of vehicles and expensive equipment; encourage the limitations on employment of public automobiles reasonably and efficiently… |
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Resolution No. 24/2016/QH14 on economic restructuring plan 2016 - 2020 was ratified on November 08, 2016 by the National Assembly. Accordingly, on the economic restructuring standpoints of developing growth models based on productivity, quality and competitiveness; improve quality of economic growth, develop growth models based on investment, export and domestic market instead of those on the basis of investment and export; focus on productivity, labor qualifications, science - technology and innovations instead of production input…, the National Assembly has set some key tasks for economic restructuring. Such as: Focus on accomplishment of restructuring of 03 primary sectors namely public investment, State-owned enterprises and credit institutions; Promulgate public investment institutions according to the international practice; give priority to |
innovation in the ways of verification, assessment and selection of projects; Conduct acquisition and dissolution of ineffective organizations, downsize the payroll and reform the governmental structure and salary policies; Continue to conduct administrative reforms and dramatically improve the business environment; Have the itinerary for applying market prices to education and healthcare in line with assistance for the poor and beneficiaries of preferential policies; Encourage the involvement of various economic ownerships in development and provision of public services; Concentrate on developing domestic private sectors and attracting foreign direct investment; Modernize economic sector planning and structuring towards improving productivity, quality and efficiency in line with international integration; Synchronously develop the financial market, land use right market, labor market and science and technology market… |
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