Regulations on tax and salary to take effect in early September 2016

1. Addition of objects on which import and export duties are levied

The 2016’s law on import and export duties regulates additional taxable objects including: In-country exports and imports, and goods imported and exported by enterprises that exercise their right to export, import or distribute.

Taxable objects formerly defined only included:

-  Goods exported and imported through border checkpoints of Vietnam.

- Goods exported from the domestic market into free trade zones; goods imported from free trade zones into the domestic market.

The law shall come into force as of September 01, 2016 and abrogate the 2005’s law on import and export duties.

2. Determination of pension for individuals on monthly benefit(s) of below VND 2 million

Pursuant to the Circular No. 23/2016/TT-BLDTBXH, in effect as of September 01, 2016, on guidelines for amendment to pension, social insurance benefit and other monthly allowances, the following amendment shall affect beneficiaries of less than VND 2 million per month in pension and benefit(s):

- For beneficiaries on a pension of at most VND 1.75 million per month: The pension revised = the previous pension + VND 0.25 million per month.

- For beneficiaries on a pension of more than VND 1.75 million per month: The pension revised = VND 2 million per month.

- For beneficiaries on work capacity loss allowance and benefit(s), which total VND 1.85 million per month or less: The work capacity loss allowance and benefit(s) revised = the sum of the previous work capacity and monthly benefit(s) + VND 0.15 million per month.

- For beneficiaries on work capacity loss allowance and benefit(s), which total more than VND 1.85 million per month: The work capacity loss allowance and benefit(s) revised = VND 2 million per month.

Moreover, the Circular No. 23/2016/TT-BLDTBXH provides guidance on determining the increased pension for:

- Individuals who began to receive monthly pension and benefit(s) from January 01, 2015 to May 01, 2016.

- Kindergarten teachers whose pension is lower than the base salary.

Furthermore, on the 01st to 10th of September 2016, certain circulars by the Ministry of Finance on collection and management of road tolls shall take effect:

3. Circular No. 121/2016/TT-BTC, in effect on September 03, 2016, on the amount, collection, payment, management and spending of road toll(s) obtained by the toll booth at Km2123+250 on National route 1 in Soc Trang province.

4. Circular No.122/2016/TT-BTC, in effect on September 03, 2016, on the amount, collection, payment, management and spending of road toll(s) obtained by the toll booth at Km2171+200 on National route 1 in Bac Lieu province.

5. Circular No.123/2016/TT-BTC, in effect on September 06, 2016, on the amount, collection, payment, management and spending of road toll(s) obtained by the toll booth at Yen Lenh bridge on National route 38.