On November 23rd 2012, the National Assembly passed the Law on Anti-Corruption amended in 2012, thereby correcting some limitations of the old Law by forcing to public such information as: For procurement and construction: must public the list of projects specified bidding and reason; Category and reason of the limit bid project, bidders lists, results …
One-member limited liability Company owned by the State is permitted to apply the minimum wage level which is higher than the general minimum wage. However, in order to apply those provisions, enterprise must satisfy the following conditions: Pay according to the state budget; profit for the year shall not be less than last year; increase …
Customers must pay a fee for gold safekeeping service and will not receive any interest, income, fees or other amounts. The credit institutions will strictly follow those contents when providing keeping gold services. It is one of the main requirements of the State Bank of Vietnam (SBV) to regulate the activity of gold safekeeping of …
Time of the evaluation and approval of mineral mine closure plan will not exceed 60 working days from the date of receiving complete and valid dossiers. In particular, the time for record checking is no more than 5 business days from the date of organization, individuals requesting for closure. Composition of the record comprising: an …
From January 3rd 2013, stock offering registration records must include the financial report preceding the year of registration. This financial report must be profitable to match with the conditions of the public offering of stock. At the same time there must be commitment that stock will be traded on organized stock market in a year …
Quarterly tax record has been supplemented by the Tax Administration Law, revised 2012. Accordingly, the record includes: – Quarterly declaration – Declaration bill of goods and services sold (if applicable) – Declaration of receipt of goods and services purchased (if any) – Documents related to the amount of tax payable. Deadline for quarterly tax declaration …
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 …
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% …
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 …
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 …
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