Below are the notable documents in the fields of Banking, Currency; Taxes, Fees, Charges, etc., updated by Law Secretary over the past week (from October 03, 2023 to October 08, 2023). To be specific::
1. Publication of the Foreign Currency Exchange Rate in Vietnam for October 2016
Announcement 4192/TB-KBNN issued by the State Treasury on September 30, 2016, announces the foreign currency exchange rate for October 2016. In which, the exchange rate between:
- Vietnamese Dong - U.S. Dollar (USD) is 1 USD = 21,939 VND;
- Vietnamese Dong - Euro (EUR) is 1 EUR = 24,598 VND;
- Vietnamese Dong - British Pound (GBP) is 1 GBP = 28,433 VND.
See more exchange rates between Vietnamese Dong and other foreign currencies for October 2016 in the appendix attached to Announcement 4192/TB-KBNN.
2. Issuance of the Business License Fee Schedule in Vietnam for 2017
From January 01, 2017, the business license fee is implemented according to Decree 139/2016/ND-CP. Accordingly:
- Organizations engaging in production, trading goods, and services:
- With charter capital/investment capital > 10 billion VND: 3,000,000 VND/year;
- With charter capital/investment capital ≤ 10 billion VND: 2,000,000 VND/year;
- Branches, representative offices, business locations, public service providers, other economic organizations: 1,000,000 VND/year.
- Individuals, groups of individuals, households engaging in production, trading goods, and services:
- With revenue > 500 million VND/year: 1,000,000 VND/year;
- With revenue 300 < a ≤ 500 million VND/year: 500,000 VND/year; (Where: a is revenue)
- With revenue 100 < a ≤ 300 million VND/year: 300,000 VND/year.
3. Conditions for Applying the Preferential Import Tariff Schedule Under VN-EAEU FTA
Decree 137/2016/ND-CP stipulates 04 conditions for applying the VN-EAEU FTA import tariff rate in the Special Preferential Import Tariff Schedule between Vietnam and the Eurasian Economic Union and its member countries for the period 2016-2018 as follows:
- Imported goods belong to the Special Preferential Import Tariff Schedule issued according to this Decree.
- Imported into Vietnam from the following countries:
- Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russian Federation.
- Other member countries of the Eurasian Economic Union.
- Vietnam (applies to goods from non-tariff zones imported into the domestic market).
- Transported directly from the above exporting countries to Vietnam.
- Comply with the regulations on the origin of goods in the Free Trade Agreement between Vietnam and the Eurasian Economic Union and its member countries, with a Certificate of Origin (C/O) form EAV.
See the list of preferential import tariff schedules in Decree 137/2016/ND-CP effective from October 05, 2016.
4. From October 15, Apply Some Policies on Wages, Bonuses for Employees, and Labor Managers in Vietnam
- Circular 26/2016/TT-BLDTBXH stipulates policies on wages and bonuses for employees in one-member limited liability companies wholly owned by the State;
- Circular 27/2016/TT-BLDTBXH guides the implementation of policies on wages, remuneration, bonuses for managers of single-member limited liability companies wholly owned by the State;
- Circular 28/2016/TT-BLDTBXH guides the implementation of regulations on labor, wages, remuneration, bonuses for companies with state-dominated capital and share contribution.
Additionally, LAWNET has updated 02 guiding documents in the field of proceedings and enforcement:
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