New Regulations Officials Need to Know from July 01, 2019

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1. Officials must declare assets and income

This is a notable content regulated in the Anti-Corruption Law 2018 which took effect from July 1, 2019.

The following subjects are obligated to declare assets and income:

- Officials;- Officers of the People's Public Security; officers of the People's Army, professional soldiers;- Persons holding positions from Deputy Head of Division and equivalent or higher working at public service providers, state-owned enterprises, persons appointed as representatives of state capital in enterprises;- Candidates for the National Assembly, candidates for the People's Council.

Thus, from July 1, 2019, officials must truthfully declare their assets, income, and changes in assets and income, as well as those of their spouse or minor children.

The types of assets and income to be declared include:

- Land use rights, houses, buildings, and other assets attached to land, houses, buildings;- Precious metals, gemstones, money, valuable papers, and other movable property with each item valued at 50,000,000 VND or more;- Assets, accounts abroad;- Total income between two declarations.

2. Increase in salary and actual allowances for officials

To be specific, according to the regulations in Resolution 70/2018/QH14 on the state budget estimates for 2019, the statutory pay rate of officials will be adjusted to increase from 1,390,000 VND/month to 1,490,000 VND/month from July 1, 2019.

This statutory pay rate is the basis for calculating salary scales, allowance levels, pensions, and allowances for officials and public employees.

Hence, with this increase in the statutory pay rate, the salary and allowances calculated according to this statutory pay rate for officials will be increased.

3. Increase in social insurance contributions

According to the regulations in Clause 1, Article 85, Clause 1 Article 89 of the Social Insurance Law 2014 and Clause 1 Article 6 of Decision 595/QD-BHXH, the social insurance contribution for officials is regulated as follows:

Social insurance contribution = Monthly salary x 8% = (Salary + allowances calculated according to the statutory pay rate) x 8%

According to Resolution 70/2018/QH14, from July 1, 2019, the statutory pay rate will be adjusted to increase from 1,390,000 VND/month to 1,490,000 VND/month, thereby, the social insurance contribution for officials will also increase.

4. Increase in social insurance allowances

With the increase in the statutory pay rate to 1,490,000 VND/month from July 1, 2019, the following types of social insurance allowances calculated based on the statutory pay rate will also increase:

- Increase in convalescence and health rehabilitation after maternity;- Increase in the one-time allowance after childbirth;- Increase in convalescence and health rehabilitation after maternity;- Increase in the minimum monthly pension;- Increase in the funeral allowance;- Increase in the monthly survivor allowance;- Increase in labor accident allowances.

- Nguyen Trinh -

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