Notable new policies of Vietnam to be effective as of the start of January 2024

Notable new policies of Vietnam to be effective as of the start of January 2024
Trần Thanh Rin

3 Laws to officially come into force as of January 1, 2024; goods and services ineligible for 2% VAT reduction from January 1, 2024 until June 30, 2024; etc., are notable policies that will be covered in this bulletin.

1. Vietnam’s 3 Laws to officially come into force as of January 1, 2024 

From January 1, 2024, 3 Laws approved by the National Assembly of Vietnam shall come into force, including: 

 (1) Law on Emulation and Commendation 2022 approved by the 15th National Assembly of Vietnam in the 3rd meeting session on June 15, 2022. 

The Law on Emulation and Commendation 2022 comes into force as of January 1, 2024 and replaces the Law on Emulation and Commendation 2003

 (2) Law on Bidding 2023 approved by the 15th National Assembly of Vietnam at the 5th meeting session on June 23, 2023. 

The Law on Bidding 2023 comes into force as of January 1, 2024 and replaces the Law on Bidding 2013

Contracts concluded under Point a Clause 1 Article 55 of the Law on Bidding 2023 shall be implemented according to the time limit prescribed in such contracts but shall not exceed 5 years from January 1, 2024.

 (3) Law on Medical Examination and Treatment 2023 approved by the 15th National Assembly of Vietnam in the 2nd irregular meeting session on January 9, 2023. 

The Law on Medical Examination and Treatment 2023 comes into force as of January 1, 2024 and replaces the Law on Medical Examination and Treatment 2009 (except for cases prescribed in Clauses 3, 4, 5, 6, 7, 8, 9 Article 120 of the Law on Medical Examination and Treatment 2023). 

2. Goods and services ineligible for 2% VAT reduction from January 1, 2024 until June 30, 2024 in Vietnam 

On December 28, 2023, the Government of Vietnam promulgated Decree No. 94/2023/ND-CP on the VAT reduction policy according to Resolution No. 110/2023/QH15.

Specifically, the following goods and services are ineligible for the 2% VAT reduction: 

 (1) Telecommunications, finance, banking, securities, insurance, trading of real estate, metals and prefabricated metal products, mining products (exclusive of coal mining), coke coal, refined petroleum, chemical products. Details are specified in Appendix I enclosed with Decree No. 94/2023/ND-CP

 (2) Excisable goods and services. Details are specified in the Appendix II enclosed with Decree No. 94/2023/ND-CP.

 (3) Information technology under the law on information technology. Details are specified in Appendix III, enclosed with Decree No. 94/2023/ND-CP.

 (4) The reduction of VAT for each category of goods and services according to regulations shall be consistently applied in all stages, including import, manufacture, processing, and commercial business.

Coal products mined for sale (including coal products mined and then washed, sieved and classified under a closed process before they are sold) are eligible for VAT reduction. 

Coal products, in Appendix I, enclosed with Decree No. 94/2023/ND-CP, are not eligible for VAT reduction in any stages other than the mining stage.

Economic corporations applying the closed process before sale are also eligible for VAT reduction for the coal products mined for sale.

If the goods and services specified in Appendixes I, II, and III enclosed with Decree No. 94/2023/ND-CP are not subject to VAT or are subject to 5% VAT under regulations of the Law on Value-Added Tax, they shall apply the Law on Value-Added Tax and are not eligible for VAT reduction.

See more details in Decree No. 94/2023/ND-CP, effective as of January 1, 2024 until June 30, 2024. 

3. New health standards for military service to be applied from January 1, 2024 in Vietnam 

On December 6, 2023, the Minister of National Defense of Vietnam promulgated Circular No. 105/2023/TT-BQP on health standards and health checkups for subjects under the management of the Ministry of National Defense of Vietnam. 

According to the Circular, the regulations on health standards for military service from January 1, 2024 are as follows: 

- General standards:

+ Health level 1, 2, and 3 according to Article 5 and Article 6 of Circular No. 105/2023/TT-BQP;

+ Citizens addicted to drugs or drug precursors prescribed in Decree No. 57/2022/ND-CP on the list of drugs and drug precursors shall not be enlisted.

- Private standards: decided by the Minister of National Defense of Vietnam. 

See more details in Circular No. 105/2023/TT-BQP, which comes into force as of January 1, 2024 and replaces Joint Circular No. 16/2016/TTLT-BYT-BQP.

Results of health screenings, health checkups, health inspections, and health assessments before January 1, 2024 shall continue to comply with Joint Circular No. 16/2016/TTLT-BYT-BQP

Health screenings, health checkups, health inspections, and health assessments after January 1, 2024 shall comply with Circular No. 105/2023/TT-BQP

4. Vietnam permits applications for permanent residence to be submitted through VNeID from January 1, 2024 

On November 17, 2023, the Minister of Public Security of Vietnam promulgated Circular No. 66/2023/TT-BCA on amendments to Circular No. 55/2021/TT-BCA guiding the Residence Law; Circular No. 56/2021/TT-BCA on residential management and registration forms; Circular No. 57/2021/TT-BCA on procedures for residential registration. 

According to the Circular, amendments to forms of receipt of applications for residential registration (permanent and temporary residence registration) prescribed in Clause 1 Article 3 of Circular No. 55/2021/TT-BCA are as follows: 

Applications for residential registration shall be received: 

- In person at offices of registration authorities; or

- Online via public service portals or other online public services as prescribed by laws; or

- Through VNeID (additional form).

Therefore, citizens may submit applications for permanent residence registration through VNeID from January 1, 2024. 

Circular No. 66/2023/TT-BCA comes into force as of January 1, 2024. 

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