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Circular No. 49 on taxes on exports and imports annulled

On March 30, 2015, the Ministry of Finance issued Circular No. 14/2015/TT-BTC on classification of goods, analysis serving classification of goods, and analysis serving inspection of quality and food safety of exports and imports.

Noticeable policies to take effect from March 2nd to 10th, 2015

From March 2nd to 10th, 2015, many significant policies shall come into effect as mentioned below:

New decrees to take effect since March 01, 2015

In addition to the article about the significant policies that take effect since March 01, 2015, THƯ VIỆN PHÁP LUẬT introduces a number of new decrees coming into effect on that day.

Significant policies effective from March 01, 2015

Below are significant policies that become effective from March 01, 2015:

Decree on guidelines for Law on Amendments to Tax Laws promulgated

The Government has promulgated Decree No. 12/2015/NĐ-CP, which provides guidelines for implementation of the Law on Amendments to Tax Laws 2014 and contains amendments to some Decrees on taxation.

New policies effective from mid-February 2015

From February 11 – 20, 2015, many new policies come into force, such as:

New instructions on compensation and allowances for occupational accidents

According to Circular No. 04/2015/TT-BLĐTBXH, the employer shall pay compensation and allowance for employees who suffer from occupational accidents or occupational diseases in the following cases:

Significant documents issued last week (January 26 – January 31)

Below are significant documents on accounting, education, employment – wages, etc. updated during the period from January 26 to January 31, 2015:

Conditions for foreigners’ residing in Vietnam

On June 16, 2014 the National Assembly passed the Law No. 47/2014/QH13 on immigration, transit and residence of foreigners in Vietnam.

Regulations on insurance brokerage of Credit Institutions

Any credit institution or branch of a foreign bank may provide insurance brokerage services for a life insurance company as long as the conditions below are satisfied:

Determination of competence between Court and Commercial Arbitration

On Mar. 20, 2014, the Council of Judges of the Supreme People’s Court issued Resolution 01/2014/NQ-HDTP on guidelines for the Law on Commercial Arbitration

Preferential power generation projects using solid waste

On May, 05, 2014, the Prime Minister signed Decision No. 31/2014/QD-TTg on supporting mechanism for development of power generation projects using solid waste in Vietnam

Five more years of retention of overseas Vietnamese’ nationality

Last weekend, the Government Office issued a Notification No. 161/TB-VPCP to announce the Prime Minister’s decision on amendments to regulations on registration for retention of Vietnamese nationality.

Regulations on indirect investment in Vietnam

From April 28, 2014, foreign investors may start making indirect investments using one of seven methods such as trading bonds and securities on Vietnamese market, etc.

Companies required to have financial statements audited

According to the Dispatch No. 1339/BTC-CĐKT dated January 24, 2014 of the Ministry of Finance, the companies below must have their annual financial statements audited:

Policies on employment and wages effective from March

In March, plenty of policies on employment and wages have come into force, in particular:

Plan of the Government to implement the new Constitution

On 13 February 2014, Prime Minister Nguyen Tan Dung signed Decision No. 251/QD-TTg issuing Plan of the Government to implement the new Constitution of the Socialist Republic of Vietnam (the Plan).

Guidance on licensing employment of foreign workers

On January 20, the Ministry of Labor, War Invalids and Social Affairs issued Circular No. 03/2014/TT-BLĐTBXH to provide guidance on Decree No. 102/2013/NĐ-CP on the positions may be held by foreign workers, and issuance of work permits to foreign workers. Accordingly:

Guidance on settling personal income tax in 2013

On January 24, the General Department of Taxation issued a Dispatch No. 336/TCT-TNCN to provide guidance on settling personal income tax in 2013. Some noteworthy points in the Dispatch:

Foreign-invested enterprises banned from medicine distribution

From February 05, 2014, foreign-invested enterprises in Vietnam are banned from distributing medicines, including finished medicines, medicine ingredients, vaccines, and biologicals, exclusive of functional foods.

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