Legal Update 05/2023
In This Update
ENTERPRISE
New guidelines for business lines, identification numbers of business households
Circular No. 02/2023/TT-BKHDT which is issued on April 18, 2023, of the Ministry of Planning and Investment guiding business lines, identification numbers of business households.
6 new policies supporting to reduce of the enterprise’s charges until 2025
Support to reduce the enterprise’s charges, and enhance the abilities to access preferential capital sources and State’s support resources are the important tasks in Resolution 58/NQ-CP.
Procedure for online business household registration from July 01, 2023
On April 18, 2023, the Minister of Planning and Investment hereby issues the Circular No. 02/2023/TT-BKHDT on amending and supplementing a number of articles of Circular No. 01/2021/TT-BKHDT dated March 16, 2021, guiding enterprise registration.
FINANCE – BANKING
The Government issues the Resolution to support clients borrowing
On April 23, 2023, the Government issues the Resolution No. 59/NQ-CP on solutions to support clients borrowing for personal consumption purposes.
Transactions valued at VND 400 million are subject to reporting From December 1
On April 27, 2023, the Prime Minister issues Decision No. 11/2023/QD-TTg on high-value transactions subject to reporting and these regulations take effect on December 1, 2023.
Credit institutions may redeem corporate bonds not yet listed on the securities market
On April 23, 2023, the State Bank of Vietnam issues the Circular No. 03/2023/TT-NHNN providing the purchase and sale of corporate bonds by credit institutions and foreign bank branches.
Casinos must conduct know-your-customer activities for the transaction of VND 70 million
On April 28, 2023, the Government issues Decree No. 19/2023/ND-CP detailing a number of articles of the Anti-Money Laundering Law. And this Decree takes effect on the signing date.
From May 10, 2023, the concessional loan interest rate for purchase of social houses is 4.8 %/year
On May 10, 2023, the Prime Minister issues Decision No. 486/QD-TTg on the Vietnam Bank for Social Policies’ concessional loan interest rate for the purchase and rent-purchase of social houses and house building, renovation, or repair.
Updated interest rates in 2023
Including interest rates of short-term loans, outstanding housing support loans, and short-term loans…
Contractors must bear all costs related to the dossier from March 01, 2023
On May 04, 2023, the Government issues Decree No. 20/2023/ND-CP on amending and supplementing a number of articles of Decree No. 114/2021/ND-CP on management and use of official development assistance (ODA) and concessional loans provided by foreign donors.
Conditions for acting as foreign exchange agents of China, Laos or Cambodia
On May 12, 2023, the Government issues Decree No. 23/2023/ND-CP on amending and supplementing a number of articles of Decree No. 89/2016/ND-CP prescribing conditions for foreign exchange agency foreign currency receipt and payment services of economic organizations.
Cases of know-your-customer for anti-money laundering
This is the important content prescribed in the Decree No. 19/2023/ND-CP detailing a number of articles of the Anti-Money Laundering Law.
TAX – FEE – CHARGE
Reduce fee for use registration of the national domain name “.vn” from June 01, 2023
The Ministry of Finance reduces many types of fees for use registration of the national domain from June 01, 2023, at Circular No. 20/2023/TT-BTC.
Reduce 35 charges and fees for enterprises and people
On April 28, 2023, the Ministry of Finance issues Official Dispatch No. 4296/BTC-CST on reviewing and suggesting reducing charges and fees to remove difficulties for enterprises and people.
2023: Import tariff quotas for raw tobacco is 68,414 tons
The Circular No. 11/2023 is issued by the Ministry of Industry and Trade on May 08, 2023, providing 2023 import tariff quotas of raw tobacco. The import tariff quota of raw tobacco shall be applied from June 23, 2023, to the end of December 31, 2023.
The rate of environmental protection charges on mineral exploitation from July 15, 2023
On May 31, 2023, the Government issues the Decree No. 27/2023/ND-CP on environmental protection charge on mineral exploitation.
ELECTRICITY
New retail electricity prices: The highest level is VND 4,724 VND per kwh
On May 04, 2023, the Ministry of Industry and Trade No. 1062/QD-BCT on electricity prices
This Decision prescribes the electricity price for domestic use or business use and production.
Within that, the average retail electricity price is VND 1,920.3732 per kwh (excluded VAT).
LABOR – SALARY
The funds for increasing base salary levels from July 01, 2023
This is the content prescribed by the Government at Decree No. 24/2023/ND-CP prescribing the base salary for cadres, civil servants, public employees, and armed forces.
9 subjects of increasing base salary from July 01, 2023
On May 14, 2023, the Government issues the Decree No. 24/2023/ND-CP prescribing the base salary for cadres, civil servants, public employees and armed forces.
LAND – HOUSING
District-level People’s Committees decide on prices of recovery land and land use levy
On May 06, 2023, 2023, the Government issues the Resolution No. 73/NQ-CP on the authorization for deciding the specific land prices.
MEDICAL – HEALTH
The Ministry of Health prescribes 13 no-smoking places
On May 11, 2023, the Minister of Health issues Circular No. 11/2023/TT-BYT providing regulations on no-smoking places and consideration for the conferment of Tobacco-Free Environment Awards.
EXPORT – IMPORT
List of scrap permitted for import from overseas
On May 22, 2023, the Prime Minister issues the Decision No. 13/2023/QD-TTg providing the list of scrap permitted for import from overseas for use as production materials
Change the agencies receiving dossiers for licensing mineral activities
On May 12, 2023, the Government issues Decree No. 22/2023/ND-CP on amending and supplementing a number of articles of Decrees related to business activities in the field of natural resources and environment.
INDUSTRY
Approve the National Power Development Master Plan: Prioritize gas-fired power, renewable electricity export
On May 15, 2023, the Prime Minister issues Decision No. 500/QD-TTg on approving the National Power Development Master Plan for the 2021-2030 period, with a vision to 2050 (Power Master Plan VIII).
TRANSPORT
05 cases of temporary closing of expressways
On May 19, 2023, the Government issues Decree No. 25/2023/ND-CP on amending and supplementing a number of articles of the Government’s Decree No. 32/2014/ND-CP dated April 22, 2014, on the management, operation, and maintenance of expressway facilities.
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