Highlight of Documents from June 05 - 10, 2017

1. Increase in Allowances for Persons with Meritorious Services, War Invalids, and Sick Soldiers from July 1, 2017

This notable content is regulated in Decree 70/2017/ND-CP stipulating the levels of allowances and preferential subsidies for persons with meritorious services to the revolution.

From July 1, 2017, the standard level of allowances and preferential subsidies for persons with meritorious services to the revolution will be adjusted from VND 1,318,000 to VND 1,417,000.

Thus, the monthly preferential allowances, annual preferential allowances, one-time preferential allowances for persons with meritorious services, and injury allowances for war invalids and sick soldiers will also be adjusted accordingly.

Attached to Decree 70 are Appendices that specify the allowance levels for each subject, including:

- Appendix I: Levels of preferential allowances for persons with meritorious services to the revolution;- Appendix II: Injury allowance levels for war invalids and those entitled to policies like war invalids;- Appendix III: Injury allowance levels for type B war invalids.

See detailed Decree 70/2017/ND-CP effective from July 25, 2017, replacing Decree 20/2015/ND-CP.

1. New Regulations on the Dossier for Issuing Business Licenses for Gold Bar Trading

On June 6, 2017, the State Bank issued Circular 03/2017/TT-NHNN amending Circular 16/2012/TT-NHNN with new provisions regarding the dossier for requesting a license for trading gold bars for enterprises. Accordingly, the dossier includes:

- Application for a gold bar trading business license;- List of registered locations as gold bar trading business points;- Certificate of enterprise registration, Certificate of branch operation registration, and documents showing registered locations as gold bar trading business points;- Confirmation from the tax authority about the amount of tax paid for gold trading activities in the two consecutive previous years.

Thus, the dossier for the gold bar trading business license has been simplified, making administrative procedures less complex:

- No need to attach the audited financial statements of the two consecutive previous years;- Enterprises can choose to notify the business registration office about the business locations or proceed with the registration of business locations.

Circular 03/2017/TT-NHNN is effective from July 22, 2017.

1. Conditions on the Dossier of Managers of Debt Trading Service Enterprises

According to the regulations in Circular 53/2017/TT-BTC guiding Decree 69/2016/ND-CP, at the time of appointment as a manager of a debt trading service enterprise, the manager must have all the following documents:

- Judicial record card;- University degree (or higher) in one of the fields: economics, business administration, law, or the professional field they undertake;- A commitment to fully meet the provisions of points a, c, d of Clause 3, Article 5 of Decree 69/2016/ND-CP.

Circular 53/2017/TT-BTC is effective from July 3, 2017.

1. New Regulations on Training Transition from Intermediate, College to University

Decision 18/2017/QD-TTg stipulates the transition between intermediate level, college level to university level with some notable new points as follows:

- Persons with intermediate graduation certificates registering for transition to university level join the admission with high school graduates in the annual university entrance exam of higher education institutions (HEIs);- Persons with college graduation certificates registering for transition to university level can participate in transition admissions in one of the two ways:- Participate in the entrance exam with high school graduates in the annual university entrance exam of HEIs;- Take a separate transition exam according to the test and organizational method of the HEIs.

See detailed Decision 18/2017/QD-TTg effective from July 15, 2017, abolishing Circular 55/2012/TT-BGDDT and Circular 08/2015/TT-BGDDT.

In addition, Thu Ky Luat has also updated three Resolutions of the Central Committee of the Communist Party, 12th tenure, as follows:

1. Resolution 10-NQ/TW dated June 3, 2017, on developing the private economy to become an important driving force of the socialist-oriented market economy;
2. Resolution 11-NQ/TW dated June 3, 2017, on perfecting the socialist-oriented market economy institution;
3. Resolution 12-NQ/TW dated June 3, 2017, on continuing to restructure, renovate and improve the efficiency of state-owned enterprises.

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