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Official Gazette

Wednesday, July 8, 2020
New rules on work permits for foreigners proposed New rules on work permits for foreigners proposed
Foreigners who enter Vietnam to work as specialists, managers, executive officers or technical workers for less than 20 days would be exempted from work permits.
Central bank allows eKYC for online opening of payment accounts Central bank allows eKYC for online opening of payment accounts
Banks may apply an electronic Know-your-Client (eKYC) process to open payment accounts, instead of the traditional face-to-face one.
International football betting via e-wallets and mobile money permitted International football betting via e-wallets and mobile money permitted
Bettors might use bank accounts, e-wallets and prepaid telecoms accounts to pay for their bets on horse and greyhound races and international football matches.
Draft circular aims at stricter control of corporate bond-related transactions Draft circular aims at stricter control of corporate bond-related transactions
Credit institutions and foreign bank branches with a non-performing loan ratio of over 3 percent would be disallowed to buy corporate bonds, according to a draft circular recently released by the State Bank of Vietnam.
MOF guides tax-related e-transactions MOF guides tax-related e-transactions
Taxpayers could conduct tax-related e-transactions around the clock via the portal of the General Department of Taxation or portals of other competent state agencies that are connected to the GDT’s, says a draft circular designed by the Ministry of Finance.
Strict management of social networks proposed Strict management of social networks proposed
Social networks with one million or more active users or 10,000 or more permanent users per month would have to apply for an establishment license, according to a draft decree compiled by the Ministry of Information and Communications to revise Decree 72 of 2013.
Draft law permits the use of foreign drivers licenses in Vietnam Draft law permits the use of foreign driver’s licenses in Vietnam
Foreign drivers might use driver’s licenses granted by their home countries when joining road traffic in Vietnam, according to a draft revised law on road traffic proposed by the Ministry of Transport.
Management of citizen residence to be digitalized Management of citizen residence to be digitalized
From 2021, citizens would no longer need household registration books or temporary residence books to conduct legal transactions, according to the latest draft of the revised law on residence designed by the Ministry of Public Security.
About 700000 firms to benefit from cut in corporate income tax About 700,000 firms to benefit from cut in corporate income tax
About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 percent from July 1 this year, down from the current rate of 20 percent.
Non-stop toll collection to be implemented nationwide Non-stop toll collection to be implemented nationwide
All toll plazas would be required to have automated lanes for non-stop toll collection, according to a draft decision on non-stop electronic toll collection recently released by the Ministry of Transport.

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