Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Wednesday, November 20, 2019
Tags: finance
Party determines to embrace Fourth Industrial Revolution Party determines to embrace Fourth Industrial Revolution
On September 27, Party General Secretary Nguyen Phu Trong signed Resolution 52-NQ/TW, on a number of policies on the nation’s proactive involvement in the Fourth Industrial Revolution, affirming that the nation will take strong actions to take advantage of opportunities brought by the Revolution. Vietnam Law and Legal Forum would like to introduce important contents of this Resolution.
More entities to enjoy business license fee exemption More entities to enjoy business license fee exemption
The Ministry of Finance is revising Decree 139 of 2016, proposing more entities eligible for exemption from the business license fee.
Revised regulations on insurance business proposed Revised regulations on insurance business proposed
Foreign organizations wishing to provide cross-border insurance auxiliary services would have to meet higher conditions, according to a draft decree prepared by the Ministry of Finance.
Vietnamese SOEs must reform and invest in technology Vietnamese SOEs must reform and invest in technology
State-owned enterprises must strive to reform and become innovation centers in today's modern economy, said Prime Minister Nguyen Xuan Phuc at a conference discussing measures to improve Vietnam’s SOEs’ management and performance on October 16 in Hanoi.
Inmate labor under the 2019 Law on Execution of Criminal Judgments Inmate labor under the 2019 Law on Execution of Criminal Judgments
In Vietnam, since 1945 the law on execution of imprisonment sentences has always considered labor a fundamental element of the inmate education regime. According to the traditional theory of combined punishment and education, labor is always a duty of inmates. Under the 2015 Penal Code (revised in 2017) (the Penal Code), inmates must serve their imprisonment sentences and work and learn so as to become useful to the society[1]. Compared to other daily activities of inmates, their working activities are to be carried out throughout their sentence serving period and exert important effects on their education and reform results. Through these activities inmates can learn working skills and generate some incomes for their future community integration. That’s why the Law on Execution of Criminal Judgments (the Law) seeks to improve the inmate labor regime primarily for raising the effectiveness of inmate education and reform.
State audit could face lawsuits: draft law State audit could face lawsuits: draft law
State agencies will be allowed to file legal challenges against the State Audit over unsatisfactory audit reports, according to a draft amendment to the Law on State Audit.
Provisions on VAT refund for foreigners to be amended Provisions on VAT refund for foreigners to be amended
The General Department of Customs is working on a draft circular to revise Circular 72 of 2014 regarding value-added tax refund for goods brought along by foreigners and overseas Vietnamese upon exit, with a view to boosting tourism.
Vietnam to enhance management of e-commerce activities Vietnam to enhance management of e-commerce activities
The Ministry of Finance is building a draft scheme on the management of e-commerce activities for imports and exports.
NA Standing Committee to question ministers NA Standing Committee to question ministers
Fifteen ministers and leaders of sectors will field questions lawmakers this week at the 36th session of National Assembly (NA) Standing Committee.
MoF proposes to increase import tax on heavy trucks MoF proposes to increase import tax on heavy trucks
The Ministry of Finance has proposed to increase import tax on complete built-up units (CBUs) of trucks weighing more than 45 tons from the current zero to 10 percent. This tax level is equal to commitments under the World Trade Organization (WTO).