New provisions in 11 laws coming into force from January 01, 2018

1. 13/364731/tieng-anh.aspx" target="_blank">Law on amendments to Criminal Code 2017

This Law adds 02 more crimes for which a corporate legal entity has to bear criminal responsibility:

- Terrorism financing, which is mentioned in Article 300 of the 2015’s Criminal Code: a corporate legal entity that commits this crime will face a penalty of up to VND 15 billion or permanent shutdown.

- Money laundering, which is mentioned in Article 324 of the 2015’s Criminal Code: a corporate legal entity that commits this crime will face a penalty of up to VND 20 billion or permanent shutdown.

The Law also classifies crimes committed by corporate legal entities into less serious crimes, serious crimes, very serious crimes and extremely serious crimes.

2. Law on Assistance for small and medium enterprises (SMEs) 2017

Law on Assistance for SMEs 2017 contains multiple incentives for SMEs. For instance:

SMEs are entitled to lower rates of corporate income tax for a limited period of time.

Extra-small enterprises are entitled to simplified tax procedures and accounting procedures according to tax and accounting laws.

SMEs also receive assistance in terms of production area, technology, market expansion, human resources development, information, counseling and legal assistance.

The Law also contains amendments to the 2014’s Law on Investment and 2013’s the Law on Bidding, for instance:

Additional business lines eligible for investment incentives:

- Investment in distribution chain of products of SMEs;

- Investment in technical establishments and incubators that provide assistance for SMEs;

- Investment in coworking spaces serving startups according to regulations of law on assistance for SMEs.

3. Law on Legal aid 2017 

This Law provides for additional standards and conditions for provision of legal aid. To be specific, a legal counselor must have at least 02 years’ experience of consultancy. This was not specified in the 2006’s Law on Legal aid.

According to the new law, a legal counselor must not be incurring a disciplinary penalty.

Changes are also made to eligible recipients of legal aid, for instance elderly people and disabled people will not receive legal aid if they do not have financial difficulties.

Some additional eligible recipients of legal aid:

- Accused persons from 16 years old to under 18 years old.

- Accused persons in near-poor households

- People below who have financial difficulties:

+ Blood parents, spouses and children of patriotic martyrs; persons having merits in nurturing young patriotic martyrs;

+ People infected with dioxin

+ Victims of criminal offences from 16 years old to under 18 years old;

+ Victims of domestic violence;

+ Victims of human trafficking cases as specified in the Law against human trafficking;
   
+ HIV-positive people.

(To be continued)

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