Highlights of Legal Documents Last Week (from September 10, 2023, to September 15, 2023)

1. Electronic stamps, tickets, and receipts are considered electronic invoices

Decree 119/2018/ND-CP was just issued by the Government of Vietnam on September 12, 2018, and officially came into effect from November 1, 2018.

The decree stipulates that electronic invoices include the following types:

- Value-added tax invoices, applicable to sellers of goods and service providers who declare VAT using the credit method;- Sales invoices, applicable to sellers of goods and service providers who declare VAT using the direct method;- Electronic stamps, electronic tickets, electronic cards, electronic receipts, electronic delivery notes, or other electronic documents that ensure they have the following contents:- Name, invoice code, invoice template number, invoice number;- Name, address, tax code of the seller;- Name, address, tax code of the buyer (if the buyer has a tax code);- Name, unit of calculation, quantity, unit price of goods and services; total amount excluding VAT, VAT rate, total VAT for each tax rate, total VAT, total payment amount including VAT in case of VAT invoices;- Total payment amount;- Digital signature, electronic signature of the seller;- ...

1. Exemption from the procedure of submitting wage scales, payrolls for businesses with fewer than 10 employees

This is the main content of Decree 121/2018/ND-CP amending and supplementing Decree 49/2013/ND-CP detailing the implementation of certain provisions of the Labor Code regarding wages, officially in effect from November 1, 2018.

Businesses with fewer than 10 employees are exempt from the procedure of submitting wage scales, payrolls, and labor norms to state management agencies.

According to Decree 121, businesses have the responsibility to develop labor norms as a basis for paying product-based wages to employees.

1. Three types of functional foods for children under 6 must be declared

On September 12, 2018, the Ministry of Health issued Circular 22/2018/TT-BYT stipulating that three types of functional foods for children under six years old are subject to price declaration, including:

- Health protection foods;- Medical nutritional foods;- Supplement foods, including nutritional products for children up to 36 months old.

The Food Safety Department is responsible for publicizing on its website the list of the aforementioned products.

Note: The above food list does not include milk for children under six years old subject to price stabilization as prescribed in Circular 30/2013/TT-BYT.

Circular 22/2018/TT-BYT is effective from November 1, 2018.

1. Types of customer information that banks must keep confidential

The Government of Vietnam issued Decree 117/2018/ND-CP stipulating the confidentiality and provision of customer information by credit institutions and branches of foreign banks.

Information provided by customers to credit institutions and branches of foreign banks must be kept confidential, including:

- Customer identification information such as name, signature sample, electronic signature, date of birth, nationality, occupation, permanent address, current residence,…;- Information about the customer's account: account name, account number, account balance, information related to deposit and withdrawal transactions,…;- Information on customer deposits: deposit transactions, deposit balances;- Information regarding assets deposited by the customer at the credit institution, branch of the foreign bank;- Information on transactions arising from the customer's transactions with the credit institution, branch of the foreign bank such as transaction documents, transaction time, transaction quantity, transaction value, transaction balance.

Decree 117/2018/ND-CP is effective from November 1, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE