핫라인: +(84) 86 888 1900
Banks raise deposit interest rates

In need of raising medium and long term capital, which serves business activities at the end of the year and reduction in the ratio ...

Franchise explosion in Vietnam

Franchise has facilitated many foreign brands to break into Vietnam. In addition to franchise industry for food, beverage or education, franchising in goods retail industry is ...

6 leading economic sectors in Central region

There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results ...

91.9% companies are optimistic about production activities in the last 6 months this year

FDI companies sector is witnessed a positive production volume, 91.1% of which are expected to increase or remain their volume ...

CPTPP makes shift of Vietnam from deficit to surplus

Most signed free trade agreements (FTA) have reflected that Vietnam always run deficit trend ...

법률답변
Tax treatment in case of failure to re-export leased or borrowed goods from export processing enterprises
대답

On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK 2022 on the tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Dispatch 1400 has recorded the guidance of the General Department of Customs related to tax treatment in case imported goods are not re-exported in the form of temporary import for re-export:
– A domestic enterprise that rents or borrows goods from an export processing enterprise under a lease or loan contract to serve production shall, after the lease or loan term expires, the domestic enterprise must re-export the number of rented or borrowed goods.
– In case the enterprise fails to re-export the rented or borrowed goods, immediately after the end of the lease or loan term, a new customs declaration must be registered and full payment of taxes and fines (if any) in accordance with regulations. determined. In case of failure to declare and pay all taxes at the end of the lease or loan term, the customs authority shall impose tax according to the provisions of Clause 4, Article 17 of Decree No. 126/2020/ND-CP dated 19 October 2020 of the Government.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for information about newly issued legal regulations, not used to advise or apply to specific cases.

I hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Handling of overpaid tax on goods rented or borrowed from export processing enterprises
대답

On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK 2022 on the tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Dispatch 1400 has recorded the guidance of the General Department of Customs related to handling overpaid tax amounts for goods rented or borrowed from export processing enterprises, the following will be detailed:
Subjects of application: Goods leased or borrowed by domestic enterprises from export processing enterprises in the form of temporary import for re-export to serve processing and production for export.
– In case an enterprise is entitled to additional declaration due to incorrect declaration of taxable value, resulting in the amount of tax paid being greater than the amount of tax payable, the overpaid tax amount will be refunded when the taxpayer no longer owes tax, late payment interest, fines.
– The customs authority shall check the reasons for additional declarations, customs declarations, relevant vouchers, and documents to determine the customs value and tax policy in accordance with regulations.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for information about newly issued legal regulations, not used to advise or apply to specific cases.

I hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Additional declaration for goods rented or borrowed from export processing enterprises
대답

On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK in 2022 on tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Dispatch 1400 has recorded the guidance of the General Department of Customs related to additional declarations for goods rented or borrowed from export processing enterprises, the following will be detailed information:
Conditions for additional declaration according to regulations:
(1) Rented or borrowed goods are on temporary import declarations registered from October 15, 2019 (the effective date of Circular No. 60/2019/TT-BTC) and have not been re-exported; and
(2) The renting or borrowing enterprise determines that there is an error in the customs value declaration; and falls into the cases where it is allowed to make additional customs declarations according to the dutiable value of the rented or borrowed goods specified in Clause 9 Article 1 of Circular 60/2019/TT-BTC dated August 30, 2019, of the Ministry of Finance.
– The customs authority shall check the conditions for additional declaration, the customs value of additional declaration, tax policy, and regulations on the additional declaration for handling according to rules.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for information about newly issued legal regulations, not used to advise or apply to specific cases.

I hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

VAT on goods rented or borrowed from export processing enterprises
대답

On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK in 2022 on tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Dispatch 1400 has recorded the guidance of the General Department of Customs related to VAT for goods rented or borrowed from export processing enterprises, the following will be detailed:
Subjects of application: Goods rented or borrowed by domestic enterprises from export processing enterprises in the form of temporary import for re-export to serve processing and production for export.
– Domestic enterprises that have registered declarations under the form of temporary import are not subject to VAT.
– In case the lease or loan term has expired, but the domestic enterprise continues to use it and does not re-export, immediately after the lease or loan term expires, the domestic enterprise must declare and pay VAT together with the import tax on the new customs declaration as prescribed in Clause 12, Article 1 of Decree No. 59/2018/ND-CP dated April 20, 2018 of the Government.
– In case the rental or borrowed goods are damaged in the course of use, cannot be re-exported, must be destroyed, and have been destroyed according to the provisions of law, the domestic enterprise is not required to declare and pay tax VAT for this number of leased or borrowed goods.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Import tax on goods rented or borrowed from export processing enterprises
대답

On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK in 2022 on tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Official Letter 1400 has recorded the guidance of the General Department of Customs related to import tax on goods rented or borrowed from export processing enterprises, the following will be detailed:
Subjects of application: Goods rented or borrowed by domestic enterprises from export processing enterprises in the form of temporary import for re-export to serve processing and production for export.
– Domestic enterprises are not exempt from import tax as prescribed at Point a, Clause 9, Article 16 of the Law on Import Tax and Export Tax No. 107/2016/QH12.
– Domestic enterprises must declare and pay import tax upon temporary import and are not eligible for a refund of paid import tax upon re-export according to the provisions of Point dd, Clause 1, Article 19 of the Law on Import Tax and Export Tax No. 107/2016/QH13 because it is a case of renting and borrowing.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Customs procedures for goods rented or borrowed from export processing enterprises
대답

On April 21, 2022, the General Department of Customs issued Official Letter 1400/TCHQ-TXNK in 2022 on tax treatment of goods rented and borrowed from export processing enterprises (“Dispatch 1400”).

Accordingly, Official Letter 1400 has recorded the guidance of the General Department of Customs related to customs procedures for goods rented or borrowed from export processing enterprises, the following will be detailed:
Subjects of application: Goods rented or borrowed by domestic enterprises from export processing enterprises in the form of temporary import for re-export to serve processing and production for export.
In case an export processing enterprise leases or borrows goods to a domestic enterprise to serve the production of products for the export processing enterprise itself:
– Export processing enterprises open temporary export declarations, domestic enterprises open temporary import declarations;
– After the lease or loan contract is terminated, the domestic enterprise shall carry out re-export procedures, and the export processing enterprise shall carry out procedures for re-importing the leased or borrowed goods for the production of these exported goods.

Dispatch 1400 takes effect from April 21, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Planning for the period 2021 – 2030 and solutions provided by the Government
대답

On May 6, 2022, the Government issued Resolution 64/NQ-CP 2022 related to several solutions to improve quality and speed up planning for the 2021-2030 period (“Resolution 64/NQ-CP”).
Here, let’s learn about specific solutions of the Government in Resolution 64/NQ-CP with Bizlawyer.

a) Allow planning according to the provisions of the Law on Planning and the laws and ordinances that have been amended and supplemented with several articles related to the planning to be made at the same time to ensure the uniformity; The planning which is made and appraised first will be decided or approved first. After the planning is decided or approved, if there are inappropriate contents, the lower planning must be adjusted according to the higher planning, ensuring the hierarchy in the national planning system.
b) Allow adjustment of the planning schedule, focusing on speeding up the formulation, appraisal and approval in 2022 for urgent national-level plans, facilitating the operation and socio-economic development of the country. To complete the master plans under the national planning system in 2023.
c) Allow the planning mentioned at point c, clause 1, Article 59 of the Law on Planning that was decided or approved before January 1, 2019, to continue to be implemented, prolong the period and adjust the contents according to regulations. provisions of relevant laws before the effective date of the Planning Law to meet the requirements of socio-economic development until the national planning, regional planning, and provincial planning period 2021 – 2030 is decided or approved under the provisions of the Law on Planning; consider and integrate relevant contents to include in the planning period 2021 – 2030.
d) Allow ministers, heads of ministerial-level agencies, and presidents of People’s Committees of provinces and centrally-run cities to consider and decide to apply the form of contractor appointment to bidding packages to elaborate national-level planning, regional planning, and provincial planning without selecting a contractor. The appointment of contractors is done under the law on bidding, the contractor selected by the form of contractor appointment must satisfy the requirements on capacity, experience, ensure progress, quality, efficiency, and fight against negativity, corruption, and waste under the law. In case the form of contractor appointment is not applied or the contractor cannot be selected, the person competent to decide on another form of contractor selection for contractor selection shall comply with the law on bidding.
dd) Permit the use of capital for recurrent expenditure under the law on the state budget for elaboration, appraisal, approval, publication of urban planning, rural planning, planning of a technical and specialized nature which has not been allocated capital, and the adjusted plannings at Points a and b, Clause 1, Article 2 of this Resolution. To be allowed to mobilize and use socialized capital sources, to ensure compliance with regulations on formulation, appraisal, approval, announcement and adjustment of plannings of the Planning Law.
e) The content of the national master plan determines the distribution orientation and spatial organization of socio-economic activities; orientations on defense, security and environmental protection of national and international importance and strategic inter-regional nature in the territory, including the mainland, islands, archipelagos, sea areas, sky. Point n, Clause 2, Article 22 of the Law on Planning has not yet been implemented on the list of important national projects and the order of priority for implementation.
g) The adjustment of national planning, regional planning, and provincial planning for the period 2021 – 2030 in case the lower planning is approved in advance but has contents not suitable with the higher planning => not establish planning tasks and reduce some procedures for planning adjustment.
h) Assign the Government to study regulations on responsibilities and authority of planning agencies making, appraising and approving planning to ensure independence, based on increasing responsibilities at all levels, shortening administrative procedures, without causing trouble and incurring costs, under the provisions of the Law on Government Organization and the Law on Organization of Local Government.
i) Assign the Government to assess the impact of the abolition of development investment plannings specific goods, services, and products to determine the volume and quantity of goods, services, and products produced, and consumed as prescribed at Point d Clause 1 Article 59 of the Law on Planning; research and restore necessary and strategic product plans, ensuring that they are not contrary to international commitments that Vietnam has signed.

Resolution 64/NQ-CP takes effect from May 6, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Update new fees in the securities field
대답

On April 28, 2022, the Ministry of Finance issued Circular No. 25/2022/TT-BTC stipulating the collection rate, mode of collection, payment, management, and use of several fees in the securities sector (“Circular 25”), replacing Circular No. 272/2016/TT-BTC dated 14/11/2016.

Accordingly, some main contents are amended and supplemented as follows:
(1) Adjusting the provisions on fees for licensing the establishment and operation of companies in the securities sector to be in sync with the Securities Law 2019 and Decrees detailing the Law. Specifically:
– On November 26, 2019, the National Assembly passed the Law on Securities No. 54/2019/QH14 (replacing the Law on Securities in 2006) and took effect from January 1, 2021.
– Then, on December 31, 2020, the Government issued Decree No. 155/2020/ND-CP detailing the implementation of several articles of the Law on Securities, Decree No. 158/2020/ND-CP on derivative securities and derivatives market.
Some highlights of the new regulations:
* Regulations on several new types of securities (derivative securities, covered warrants);
* Amendment of some licenses and certificates of securities activities compared to the previous regulations).
(2) Reduce by more than 90% the management fee of unlisted and unregistered public companies. Accordingly, the fee is collected and paid once at the time the company is certified by the Securities Commission to complete the registration of a public company with a fee of VND 830,000.

Circular 25 takes effect from July 1, 2022.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Enterprise restructuring process to transform into a Joint Stock Company
대답

From April 1, 2022, Circular 05/2022/TT-BTC of the Ministry of Finance officially takes effect (“Circular 05”), the content of Circular 05 is the guidance: (1) Restructuring enterprises that are not eligible for equitization and; (2) Transferring lots of shares with receivables of enterprises in which 100% charter capital is held by the State and has the function of buying, selling and handling debts issued by the Minister of Finance.

According to Circular 05, the Enterprise restructuring process to transform into a joint-stock company includes the following basic steps:

1. Formulate restructuring plan: Implement a restructuring plan, transforming state-owned enterprises into joint-stock companies; Complete the restructuring plan and submit it to the owner’s representative agency for approval.

2. Organize the implementation of the restructuring plan.

3. Complete the transformation of the enterprise into a joint-stock company: Hold the first General Meeting of Shareholders and register the enterprise; Organize the settlement and handover between the restructured enterprise and the joint-stock company. Handling unsold shares.

Circular 05 takes effect from April 1, 2022. Replace Circular 69/2018/TT-BTC and Circular 50/2019/TT-BTC.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!

Contents of the latest assessment of foreign investment activities in Vietnam
대답

On April 1, 2022, Circular 02/2022/TT-BKHDT issued by the Ministry of Planning and Investment officially took effect (“Circular 02″), Circular 02 guides the supervision and assessment of foreign investment activities in Vietnam

In Circular 02, the content of the assessment of foreign investment activities in Vietnam is specified as follows: Including closing assessment, impact assessment, and unexpected evaluation

I. Content of closing assessment
1. Progress of capital contribution to the charter capital of foreign-invested economic organizations, legal capital (for industries requiring legal capital), investment capital contribution of foreign-invested projects; the mobilization and use of mobilized capital in accordance with the provisions of law.
2. The project implementation progress is compared with the schedule specified in the Decision approving the investment policy or the Investment Registration Certificate.
3. The project’s land use and labor use; compliance with legal regulations on environmental protection.
4. The performance of financial obligations towards the State.
5. Evaluation of the results of the implementation of the objectives, mobilized resources, implementation progress, and project benefits.
6. Proposals and recommendations.

II. Content of Impact Assessment
1. Evaluation of the implementation of the investment objectives and scale (the compliance with the planning, in accordance with the contents of the Decision approving the investment policy or the Investment Registration Certificate, specialized legal regulations).
2. Evaluation of the completion level (according to the registered contents and progress; the content and progress are specified in the Decision approving the investment policy or the Investment Registration Certificate).
3. Evaluation of investment efficiency (using labor and land; payment to the state budget; investment rate; transfer of science, technology, and experience, management, and business skills) on the basis of comparing costs and actual results achieved in the process of exploitation and operation.
4. Assessment of production technology level, science and technology transfer, technology and experience, management, and business skills.
5. Assessment of the implementation of the reporting regime for state management agencies according to regulations.
6. Proposals and recommendations.

III. Content of unexpected evaluation
1. Conformity of project implementation results in investment objectives.
2. The degree of completion of the workload compared with the provisions in the Decision approving the investment policy, the Investment Registration Certificate.
3. Identify unexpected occurrences (if any) and causes.
4. Impact of unexpected occurrences on the project implementation and the project’s ability to complete the objectives.
5. Proposals and recommendations.

Circular 02 takes effect on April 1, 2022, and replaces Circular 09/2016/TT-BKHDT dated June 30, 2016.

* This newsletter is only for informational purposes about newly issued legal regulations, not used to advise or apply to specific cases.

Hope the above information is helpful to The Esteemed Readers.
Bizlawyer is pleased to accompany The Esteemed Readers!