Taxable price of natural water used for hydroelectricity generation
On October 28,2016, the Ministry of Finance issued the Circular No. 174/2016/TT-BTC on amending and supplementing point a Clause 4 Article 6 of Circular No. 152/2015/TT-BTC dated October 02, 2015 by the Ministry of Finance providing guidance on resource royalty. Accordingly, from December 12, 2016, taxable price of natural water used for hydroelectricity generation is […]
New regulations on bank transfer confirmation
On October 28, 2016, the Ministry of Finance issued the Circular No. 173/2016/TT-BTC on amending and supplementing the first paragraph of clause 3 Article 15 of Circular No. 219/2013/TT-BTC by the Ministry of Finance (amended by Circular No. 119/2014/TT-BTC, Circular No. 151/2014/TT-BTC and Circular No. 26/2015/TT-BTC by the Ministry of Finance). Bank transfer confirmations are […]
To increase on regional minimum wage from January 01, 2017
On November 14, 2016, the Government issued the Decree No. 153/2016/ND-CP dated November 14, 2016 of the Government providing on regional minimum wage rates applied to employees working under an employment contract, takes effect on January 01, 2017. Accordingly, the regional minimum wage rate applied to employees working for enterprises is VND 3,750,000/ month in […]
To lengthen the term for short-term loans by foreign currency
This content is prescribed at the Circular No. 31/2016/TT-NHNN of the State Bank of Vietnam on amending, supplementing a number of articles of the Circular No. 24/2015/TT-NHNN dated December 8, 2015 of the State Bank of Vietnam on foreign currency loans granted to residents by credit institutions and branches of foreign banks. In particular, short-term […]
General conditions for seagoing ship building
On July 01, 2016, the Government issued the Decree No. 111/2016/ND-CP prescribing business conditions for provision of seagoing ship building, conversion and repair services. In accordance with regulations, from July 01, 2016, a shipyard must have a technical division and a quality inspection division which are separate from each other and meet the requirements on […]
Should the gov’t tax second homes?
While Việt Nam’s Finance Ministry writes a proposal to tax second homes, the Việt Nam News asked our readers to share their thoughts on a potential multiple-home tax. Here are some of the responses: Nguyễn Thanh Hà, Vietnamese lawyer, Hà Nội As far as I know, many countries tax multiple-house owners in order to develop […]
REAL ESTATE IN DESPERATE NEED OF LEGAL REFORM
The 2014 Law on Real Estate Business made it easier to purchase, sell and transfer ownership of properties, but to truly kickstart the market Vietnam needs to make the legal frame - work more transparent. NGUYEN THANH HA , chairman of SBLAW , talk to VIET DUONG about the hurdles to real estate mergers and […]
To 2020, reduce the rate of poor households nationwide about 1% - 1.5%/year
On September 02, 2016, the Prime Minister signed the Decision No. 1722/QD-TTg on approving the national target program for sustainable poverty reduction during 2016 – 2020; with the objectives to achieve sustainable poverty reduction objectives and prevent poverty relapse; make contribution to the economic growth, guarantee social security benefits, improve the life, increase income of […]
E-permits for ships’ entry into seaports, inland ports
The Prime Minister issued the Decision No. 34/2016/QD- TTg dated August 23, 2016 on regulations on e-procedures for boats, ships’ entry, exit from seaports, inland ports, offshore oil ports via national single-window system. In accordance with this decision, two hours at the latest before arrival of ships at pilot boarding area; Vietnamese and Cambodian inland […]