New Vietnam Law on Bankruptcy No.51/2014/QH13

New Vietnam Law on Bankruptcy has been voted and approved by Vietnam National Assembly on Jul 19th, 2014 and is expected to make contribution to resolve the current problems about requirements of the enterprises, cooperatives which declare bankruptcy; to ensure equality in protecting the interests of the State, the legitimate rights and obligations of enterprises, cooperatives, individuals, agencies. Vietnam … Read More

Official Letter 640/LDTBXH-TCCB of the Ministry of Labour – Invalids and Social Affairs (MOLISA) on the rate of wage increase before the deadline

Official Letter 640/LDTBXH-TCCB of the Ministry of Labour – Invalids and Social Affairs (MOLISA) on the rate of wage increase before the deadline From April 10th 2013, the rate of officials and employees that are paid increasing ahead of time in a year will be raised to 10%, doubling the previous regulation. To directly implementing the … Read More

Resolution 02/NQ-CP of the Government on the extension of tax for business

In Resolution 02/NQ-CP dated January 7th 2013, the Government has launched several business support solutions such as: extension of corporate income tax (CIT), value added tax (VAT), real estate business support Accordingly, the Resolution extends 6 months for the deadline of the CIT for the tax payable in the first quarter; an extension of 3 months for … Read More

Circular 33/2012/TT-NHNN on reducing short-term lending interest rates

Circular 33/2012/TT-NHNN on reducing short-term lending interest rates From December 24th 2012, the maximum short-term lending interest rates for credit institutions is at 12% / year, for the people’s credit fund and micro-finance institutions at 13%. The above rates will apply to loans to serve agriculture and rural development, service production of small and medium-sized … Read More

Circular 10/2012/TT-BXD guiding application for permission to build private house

Dossiers of application for permission to build house in rural area must have drawings of foundations, the main stand and the project on a scale from 1/50 to 1/500. For private house in urban area, additional drawings of the floor, the facade and the main section of the house on a scale from 1/50 to … Read More

Decree 73/2012/ND-CP of the Government on cooperation, investment of foreign countries in education sector

The Decree clearly stated that Vietnamese children of less than 5-year-old will not be accepted in foreign education program in Vietnam. In addition, the Decree also points out five types of educational institutions invested by foreign investor that can be established Vietnam being: i) training institution, ii) short-term training institution, iii) preschool educational institutions (kindergarten, ... Read More

Decision 2646/QD-NHNN on reducing operating interest rates

Decision 2646/QD-NHNN on reducing operating interest rates State Bank of Vietnam (SBV) has announced to reduce 1% operating intertest rate. Since December 24th, the refinancing rate felt from 10% / year to 9% / year; re-discounted rate decreased from 8% / year to 7% / year. Interest rate for overnight loans in the inter-bank online … Read More

Dispatch 17164/BTC-TCT on taxation the loan interest

Profit from lending activities of organizations and individuals which are not credit institutions will not have to pay VAT. That is the guidance of the Ministry of Finance in Dispatch 17164/BTC-TCT issued on December 11th 2012. Accordingly, the Ministry has identified the above lending activities are credit services. This service is one of the subjects that … Read More

New fees on issuing visa, passport and temporary residence card of foreigners

According to Circular No. 190/2012/TT-BTC issued by the Ministry of Finance in November 09th, 2012 on amendment, supplement the Circular No. 66/2009/TT-BTC issued by  the Ministry of Finance in regulating the regime on collection, remittance, management and use of fees on passport, visa and papers on entry, exit, transit and residence in Vietnam, the fees … Read More

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