Headlines 07/03/2019 10:23 SA

Tax, insurance and salary regulations coming into force from March

Bích Tuyền

In March 2019, multiple regulations on tax, insurance and salary regulations will start to take effect.

THƯ VIỆN PHÁP LUẬT would like to introduce some notable regulations below:

1. Documents and procedures for refund of excise tax

Decree No. 14/2019/NĐ-CP which amends Decree No. 108/2015/NĐ-CP on guidelines for the Law on excise tax, will come into force from March 20, 2019.

According to the Decree, documents and procedures for refund of excise tax are specified below:

- Documents, procedures and the power to decide refund of excise tax on goods temporarily imported for re-export shall follow provisions of Article 34 of Decree No. 134/2016/NĐ-CP dated September 01, 2016;

- Documents, procedures and the power to decide refund of excise tax on raw materials imported for export manufacturing and export processing shall follow provisions of Article 36 of Decree 134.

If the import declaration includes both import duty and excise tax, the application for refund of import duty is also the application for refund of excise tax.

2. Annulment of 02 Circulars on export and import duties

On January 18, 2019, the Ministry of Finance issued Circular No. 04/2019/TT-BTC which annuls these 02 Circulars on export and import duties:

- Circular No. 61/2010/TT-BTC providing guidance on exemption of import duty on radiotelephones provided for fishermen.

- Circular No. 11/2012/TT-BTC providing guidance on exemption of export duty on building materials shipped from the domestic market to free trade zones for construction, repair and maintenance of technical infrastructure and social infrastructure therein.

Circular No. 04/2019/TT-BTC comes into force from March 04, 2019.

3. New regulations on issuance of insurance agent certificates

From March 01, 2019, Circular No. 125/2018/TT-BTC on issuance of insurance agent certificate will start to take effect.

According to the Circular, a person will be granted the insurance agent certificate after he/she passes the examination for the insurance agent certificate.

Within 10 days from the day on which the examination result is approved by the Department of Insurance Management and Supervision, the training institution shall send a notice and issue the insurance agent certificate to the successful examinees.

Examinations for the insurance agent certificates may be online or paper-based.

The examination questions shall be designed according to the insurance agent training program specified in Article 88 of Decree No. 73/2016/NĐ-CP dated July 01, 2016.

The examination paper shall consist of multiple-choice questions, 75% of which are about general insurance knowledge and the remaining 25% are about the insurance product.

4. New guidelines for wage, bonus and employee management

Circular No. 04/2019/TT-BLĐTBXH on guidelines for wage, bonus and employee management by credit guarantee funds for small and medium enterprises will come into force from March 08, 2019.

According to the Circular, there regulations therein will apply to determination of the salary and bonus funds, payment of salary and bonus from January 01, 2019.

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