Headlines 10/05/2019 15:56 CH

Notable policies coming into force from the middle of May, 2019

Kiều Nga

THƯ VIỆN PHÁP LUẬT would like to introduce the following notable policies coming into force from the middle of May, 2019 (May 11 – 20, 2019), including:

1. Abrogation of Circular No. 134 on VAT from May 20, 2019

This content is introduced in the Circular No. 18/2019/TT-BTC which is coming into force as from May 20, 2019.

According to this Circular, all regulations of the Circular No. 134/2014/TT-BTC providing guidelines for extension of deadlines of payment and refund of VAT on machinery and equipment imported as fixed assets of investment projects are abrogated.

Applications for extension of deadlines for paying VAT on imports submitted to customs authorities by May 20, 2019 shall be still processed in accordance with the Circular No. 134.

Applications for refund of VAT submitted to tax authorities by May 20, 2019 shall be also processed in accordance with the Circular No. 134.

2. Subsidies on training courses for employees of women-owned small and medium-sized enterprises (SMEs)

According to the Circular No. 05/2019/TT-BKHDT (coming into force from May 12, 2019), the Government shall provide subsidies for development of human resources of SMEs as follows:

- A subsidy up to 100% of expenses of training courses in entrepreneurship, business administration and advanced business administration provided for employees of women-owned SMEs.

A women-owned SME means a SME owned by one or more women who own at least 51% of its charter capital and among whom there is the one managing SME’s business.

- A subsidy up to 100% of expenses of training courses provided for employees of SMEs located in extremely disadvantaged areas.

Extremely disadvantaged areas are defined according to Appendix II enclosed with the Decree No. 118/2015/ND-CP dated November 12, 2015.

- A subsidy of at least 50% of expenses for organizing a training course in entrepreneurship and business administration.

3. Additional cases where the use of foreign currencies is allowed in Vietnam

On March 29, 2019, the State Bank of Vietnam has promulgated the Circular No. 03/2019/TT-NHNN providing amendments to the Circular No. 32/2013/TT-NHNN on guidelines for restriction on use of foreign currencies in Vietnam.

According to this Circular, foreign investors are allowed to transfer foreign currencies as deposits when attending auction in the following cases:

- Buy shares from state-owned enterprises equitized with the approval of the Prime Minister;

- Buy shares or stakes of the State in wholly or partially state-owned enterprises undergoing divestment with the approval of the Prime Minister;

- Buy shares or stakes of state-owned enterprises in other enterprises undergoing divestment with the approval of the Prime Minister.

The Circular No. 03/2019/TT-NHNN is coming into force from May 13, 2019.

4. Guidelines for statistics in justice area

The Circular No. 03/2019/TT-BTP provides for presentation of statistical reports applied to justice area as from May 15, 2019 as follows:

- Statistical reports are prepared using forms and include the following information: name of report, name of reporting entity and report-receiving agency, reporting contents, and signature of head of reporting entity, etc. - If any contents of the report need explanation, the reporting entity shall provide notes in one or combination of the following forms: 

+ Short notes may be provided at the final part of the report and above the part of signature mentioned above;

+ Notes may be also provided in the form of an official dispatch (using the form provided in Appendix III enclosed with this Circular).

The Circular No. 03/2019/TT-BTP is coming into force from May 15, 2019.

5. Lease duration of old state-owned houses up to 05 years

This regulation is introduced in the Decree No. 30/2019/ND-CP on amendments to the Decree No. 99/2015/ND-CP providing guidelines for the Law on housing.

According to this Decree, duration of an old house lease is 05 years commencing from the date on which the lease is signed unless the lessee wishes to lease the house for a shorter duration. 

When the house lease expires, if the lessee is still eligible to lease the house and wishes to continue the lease, the lease shall be extended for a period equal to the former lease duration, except the cases where the house is appropriated in accordance with laws.

Parties of house lease agreements signed before the effective date of the Decree No. 30/2019/ND-CP and specifying lease duration different from the one prescribed above are not required to enter into new lease agreements.

The Decree No. 30/2019/ND-CP is coming into force from May 15, 2019.

6. Roadmap for application of permissible levels of exhaust emissions of motor vehicles as of May 15, 2019

The Decision No. 16/2019/QD-TTg on roadmap for application of permissible levels of exhaust emissions of motor vehicles in use and used motor vehicles to be imported is coming into force from May 15, 2019.

According to this Decision, Level 1 of exhaust emissions shall be still applied to motor vehicles which are in use, powered by either positive-ignition engine or compression-ignition engine, and manufactured before 1999.

As of January 01, 2020, Level 2 of exhaust emissions shall be applied to motor vehicles which are in use, powered by either positive-ignition engine or compression-ignition engine, and manufactured after 2008.

As of January 01, 2021, Level 2 of exhaust emissions shall be applied to motor vehicles which are in use, powered by either positive-ignition engine or compression-ignition engine, and manufactured in the period from 1999 to 2008 inclusively.

The Decision No. 16/2019/QD-TTg also stipulates the roadmap for application of permissible levels of exhaust emissions of used motor vehicles to be imported and supersedes applicable regulations in Decision No. 249/2005/QD-TTg dated October 10, 2005.

7. 04 criteria for approving SMEs’ applications for subsidized consulting services

The Circular No. 06/2019/TT-BKHDT on organizational and operational rules of consultant network and provision of subsidized consulting services for SMEs through consultant network is coming into force from May 12, 2019.

According to this Circular, the SME support agency shall consider giving approval for application for subsidized consulting service according the following criteria:

-  The applying SME meets the requirements set forth in Article 6 of Decree No. 39/2018/ND-CP on guidelines for the Law on support for small and medium-sized enterprises.

-  The selected consultant/ consulting firm must be a member of the consultant network.

-  The requested subsidy must be conformable with subsidies prescribed in Article 13 of Decree No. 39.

-  Terms and provisions of the consulting service agreement must conform to applicable regulations and meet the applying SME’s demand.

The decision on approval for an application for subsidized consulting service granted to a SME shall include the specific subsidy, validity and exempted or reduced consulting fees.

8. Guidelines for debts to be classified of Vietnam Development Bank (VDB)

The Circular No. 04/2019/TT-NHNN providing amendments to the Circular No. 24/2013/TT-NHNN on classification of assets and off-balance sheet commitments of VDB.

According to this Circular, the following debts must be classified:

- State investment credit;

- Export credit provided by the State under agreements signed before the effective date of Decree No.  32/2017/ND-CP dated March 31, 2017 on state investment credit;

- Foreign loans on-lent by the Government;

- Entrusted loans;

- Other loans;

- Amounts payable according to off-balance sheet commitments.

Further details are available in the Circular No. 04/2019/TT-NHNN which is coming into force from May 15, 2019.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE

Most Viewed

Address: 17 Nguyen Gia Thieu street, Ward 6, District 3, Ho Chi Minh City, Vietnam.
Phone: (+84)28 3930 3279 (06 lines)
Email: info@ThuVienPhapLuat.vn

Copyright© 2019 by THƯ VIỆN PHÁP LUẬT
Editorial Director: Mr. Bui Tuong Vu

DMCA.com Protection Status