On November 20th, the National Assembly passed the Law on Cooperatives 2012. One of the interesting new points which is foreigners legally residing in Vietnam now can become a member of the cooperative. Accordingly, the Government shall stipulate the conditions and procedures for becoming a member of the cooperative for Vietnamese legal entities and foreign individuals … Read More
Accordingly, classification of the securities companies in four groups on the basis of the level of risk for the market to take appropriate remedial measures as follows: Group with healthy activities: organizations with liquidity ratio of more than 180%; Group with ordinary activities: liquidity ratio from 150% to 180%; Controlled group: liquidity ratio from 120% … Read More
Only accept letters of guarantee stating the contents commitment to ensure the ability to perform and responsible for paying tax, fines for late payment in place of the taxpayer at the end of the tax payment time limit but the taxpayer has not paid the tax, fully meet the conditions prescribed by the letter of … Read More
From March 26th 2013, service providing organizations: intermediate payments, non-cash payments, users of those service when open and use the account have to involve in a contract. Service fee is still regulated and listed by the organizations, but in the case of unexpected developments, the Reserve Bank of Vietnam will determine this fee. Person aged … Read More
Prisoners who died in their custody or detention, imprisonment without their own fault or a force majeure event will be compensated with the mental damages at 360 months minimum wage. This is one of the contents are specified in detail in The Joint Circular 05/2012/TTLT-VKSNDTC-TANDTC-BCA-BTP-BQP-BTC-BNNPTNN guiding the implementation of the state to compensate in criminal proceedings. This … Read More
Rather than business enterprises, households and individuals are also exempt from import duties when importing unprocessed agricultural products from Cambodia. This new content is defined in Circular 201/2012/TT-BTC guiding the tax policy for unprocessed agricultural products that Vietnam support investment and growing in Cambodia. In addition, the list of exempting goods and code in this case … Read More
Previously, when unilateral termination of labor contracts, employee must be certified by the employer that the termination is legal then he/she will be eligible for unemployment insurance (UI). However, from January 15th 2013, employee just need to be certified by the employer on the unilateral termination of the contract to complete the documents entitled to … Read More
Fee for new, renewal the Certificate of registration of branches, representative offices and place of business of enterprise from the date of December 10th 2012 will be 100,000 VND/time, increased 5 times compared to the old regulations which was no more than 20,000 VND/time . It is one of the new content that the Ministry … Read More
Mistaken paid or overpaid VAT on imported goods for custom authorities when discovered will be adjusted to the state budget and will not be refunded. The handling of the above VAT amount is done under the guidance at Point c, Clause 2, Article 131 of Circular194/2010/TT-BTC. Accordingly, the overpaid amount will not be refunded to … Read More
Coal, briquettes, ovoids and similar solid fuels manufactured from coal in heading 27.01 are applied with the export tax reduction from 20% to 10%. These above contents are regulated by the Ministry of Finance in Circular 169/2012/TT-BTC on October 11th 2012 amending a part of Circular 157/2011/TT-BTC ‘s content . Other types of coal such as lignite (27.02), … Read More
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