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

1. Instructions on making consolidated financial statements

On December 22, 2014, the Ministry of Finance issues Circular No.  202/2014/TT-BTC on the making of consolidated financial statements

According to the Circular, each independent enterprise shall include the following items in its own financial statement:

- Items in the consolidated balance sheet:

+ Item VI “Goodwill” – code 269 in “Asset”

+ Item “Interest of non-controlling shareholders” – code 429.

- Items in the consolidated income statement:

+ Item “Profit or loss of associated companies, joint-ventures” – code 24.

+ Item “Post-tax profit of parent company’s shareholders” – code 61.

+ Item “Post-tax profit of non-controlling shareholders” – code 62.

The said information must be written in the Description of the consolidated financial statement in accordance with Appendix 1.

This Circular takes effect after 45 days from the day on which it is signed and is applied to the making of consolidated financial statements of the fiscal years that begin on or after January 01, 2015.

2. Incentives for atomic energy students

From February 10, 2015, regular college students, university students, and postgraduate students who major in atomic energy are given exemption of tuition fees and dormitory charges.

Besides, such students are also given monthly living allowances as follows:

- College students: 1.5 times the base salary for students ranked excellent; 1.0 time the base salary for students ranked good;

- University students: 2.5 times the base salary for students rated excellent; 1.5 time the base salary for students rated good;

- Postgraduate students shall have their wages unchanged during the training period and receive a monthly living allowance of 3.5 times the base salary.

The aforesaid information is provided in Joint Circular No. 208/2014/TTLT-BTC-BGDĐT.

3. Internship of college lecturers

From March 02, 2015, the regulations below shall apply to internship of college lecturers:
 
The internship period is 12 months, except for those who have taught at a university or college for at least 12 months.

The principal shall consider reducing the internship period of the persons who have doctorate degrees and have worked as lecturers during the postgraduate course.

The internship period must be specified in the employment contract.

Within 07 working days from the day on which the intern starts to work, the dean must appoint an experienced and professionally capable lecturer to instruct the intern.

The aforesaid regulations are provided for in Circular No. 01/2015/TT-BGDĐT, which replaces Circular No. 14/2009/TT-BGDĐT, Article 1 of Circular No.  43/2011/TT-BGDĐT, and Decision No. 37/2000/QĐ-BGD&ĐT. />
4. Lecturer required to spend 1/3 working time on scientific research

This is a new regulation in Circular No. 47/2014/TT-BGDĐT on the practice of lecturers, which comes into force on March 25, 2015.

In additions, the Circular also provides for some changes to teaching hours as follows:

-  Standard number of teaching hours is 270 hours per year.

- The conversion of standard hours no longer varies between year-based courses and credit-based courses

- The maximum duration of instructions shall be 25 hours for a graduation paper/project; 70 hours for a master’s thesis; and 200 hours for a doctorate dissertation.

This Circular replaces Decision No. 64/2008/QĐ-BGDĐT, Circular No. 36/2010/TT-BGDĐT, and Circular No.18/2012/TT-BGDĐT.

5. Adjustments to wages as basis for social insurance contribution in 2015

On March 09, 2015, Circular No. 03/2015/TT-BLĐTBXH on adjustments to salaries, wages, and income as basis for social insurance contribution comes into force.

This Circular applies to:

- Those whose salaries/wages as basis for social insurance contribution are adjusted according to Article 2 of Decree No. 83/2008/NĐ-CP from January 01 to December 31, 2015.

Those whose incomes as basis for social insurance contribution are adjusted according to Article 2 of Decree No. 134/2008/NĐ-CP from January 01 to December 31, 2015.

The Circular prescribes that:

- Adjustments to salaries/wages as basis for social insurance contribution in corresponding years shall comply with Table 1 of Article 2.

- Adjustments to monthly incomes as basis for social insurance contribution in corresponding years are shall comply with Table 2 of Article 3.

Regulations of this Circular shall apply from January 01, 2015.

6. 90% refund for late passengers

Circular No.  80/2014/TT-BGTVT on transport of passenger, luggage, and goods delivery by inland waterways comes into force on February 15, 2015, According to this Circular:

- Passengers who have tickets, arrive after the ship has left, and have noticed the transport service provider or the ticket seller 2 hours in advance shall receive a refund of 90% of the ticket price (previously 80%)

- Every child under 1 year accompanied by an adult is not required to buy tickets (previously children ≤ 5 years)

- Animals ≥ 10 kg are not allowed in the passenger compartment (previously ≥ 40 kg)

Circular No.  20/2011/TT-BGTVT is annulled.

7. Fees for licensing alcohol production

From February 05, 2015, applicants for issuance, renewal, and adjustment of licenses for alcohol production shall pay the fees below:

- Fee for assessment of operation condition for issuance, renewal, adjustment of a license for alcohol production:

+ For industrial alcohol production facilities whose design capacity is 3 million liters per year or over: VND 4,500,000 per application.

+ For industrial alcohol production facilities whose design capacity is below 3 million liters per year: VND 2,200,000 per application.

+ For small-scale alcohol production facilities: VND 1,100,000 per application.

- Fees for issuance, renewal, adjustment of licenses for alcohol production: VND 400,000 per application for industrial alcohol production; VND 200,000 per application for small-scale alcohol production.

The said information is specified in Joint Circular No. 196/2014/TT-BTC.