On 05/08/2019, the Ministry of Finance issued Circular 47/2019/TT-BTC regulating the rates of collection, remittance, management and use of fees for providing business information and registration fees. enterprise. This Circular takes effect from 20/09/2019.
Accordingly, the business registration fee rates are as follows:
– The fee for granting, re-granting, changing the contents of the business registration certificate is VND 50,000/time (currently VND 100,000 / time);
– The fee level for granting, re-granting, changing the contents of the operation registration certificate of branches, representative offices and business locations of enterprises is VND 50,000/time (remains the same as currently);
– The fee rates for providing business information remain the same as the current regulations, except for the fee for publishing business registration contents, which is reduced to VND 100,000/time (VND 200,000 reduction compared to the current rate).
Cases of free and fee include:
– Enterprises supplementing and changing information due to changing administrative boundaries shall be exempt from enterprise registration fee and fee for announcement of business registration contents.
– Register to dissolve enterprises, suspend business; termination of operation of branches, representative offices and business locations shall be exempt from business registration fees.
– Enterprises registering enterprises via electronic networks are exempted from business registration fees.
– The state agency requests to provide information for state management free of charge for providing business information.
– Small and medium-sized enterprises converted from business households are exempted from business registration fees and fees for providing business information for the first time.
The issuance of Circular No.47/2019/TT-BTC shows obviously in the rates of collection, remittance, management and use of fees for providing business information, the charge of business registration.
On 08/08/2019, the Ministry of Finance issued Circular No. 50/2019/TT-BTC regulating the auction of shares attached to receivable debts of state-owned enterprises with the function of buying, selling and handling debt effective 01/10/2019.
Accordingly, Circular No. 50/2019 / TT-BTC has the following outstanding contents:
– Subjects of application of this provision include: State enterprises with the function of buying, selling and handling debts (hereinafter referred to as debt purchase and sale enterprises); Joint-stock companies (not listed, registered for trading on the stock exchange; listed and registered for trading but do not conduct transactions on the stock exchange) and have contributed capital and receivables of debt trading enterprises; Auction organization; Investors participating in the purchase of shares with receivable debts; Other organizations and individuals involved in the transfer of capital with receivable debts.
– The debt purchase and sale enterprise shall transfer the shareholding with debt receivable according to the business plan and the plan approved by the Members’ Council or the company president according to its prescribed competence.
– The auction execution order: The Members’ Council or the company president of the debt purchase and sale enterprise shall decide on the auction starting price of the stock lot with receivable debts but not lower than the initial price of the additional shares. with the starting price of receivables; Organization of auction of shares with receivable debts; Prepare bidding documents for shares with receivables; Information disclosure; Performing an auction; Determining auction results; Handling auction results
Thus, Circular No. 50/2019/TT-BTC has provided detailed instructions on the order and procedures for auctioning shares of receivables with state-owned enterprises with the function of buying, selling and handling in debt.
On 21/05/2019, the Government issued Decree No. 45/2019/ND-CP regulating administrative sanctions in the field of tourism. Accordingly, this Decree takes effect from 01/08/2019.
The Decree has issued many new regulations for violations of technical facilities, minimum tourist accommodation services. Specifically, Article 11 of this Decree provides:
A fine of between 01 and 03 million VND for one of the following acts:
No beds or mattresses or mats or blankets as prescribed;
No face towels or towels as prescribed;
Do not change the mattress or cover or wrap blankets or pillow covers when there are new guests;
Do not replace face towels or towels when there are new guests.
A fine of between VND 10-20 million for acts of failing to ensure toilets according to regulations (at the same time suspending operation from 01 to 03 months).
The above penalty level applies to individuals, if the organization has the same violation, it will be fined twice.
The above regulations are completely reasonable, in order to do business in the house and the hotel, the investors must meet certain business conditions. For example, about design, minimum appliances, electrical system, clean water, ensure hygiene conditions … Only when these conditions are met can an operation license be granted. The absence of minimum physical facilities or hygiene for customers will, of course, be sanctioned for administrative violations. The heavier will be deprived of this business license. The regulation is absolutely necessary to protect the deserving interests of service users. In addition to ensuring health for customers to avoid skin diseases, infectious diseases when motels and hotels are not hygienic in accordance with the law .
On June 5, 2019, the Government issued Decree 48/2019 / ND-CP to manage activities of recreational and recreational facilities under water. The Decree takes effect from August 15, 2019.
Some notable contents in the decree:
Definition of facilities for fun and entertainment under water. Accordingly, amusement and recreational facilities under the water are understood to be ships, boats or other floating structures used for recreational and recreational purposes under water with a capacity of no more than 5 people and operating in the active areas. be accepted or announced by a competent state agency (Clause 1, Article 3);
Division of entertainment and entertainment activities into 02 areas, including:
Zone 1: is the water area on inland waterway, seaport waters or maritime area;
Zone 2: Is another water area not belonging to zone 1, marked, locate by float or pennant with easy-to-observe colors (Article 5).
Providing conditions for vehicles and drivers when participating in recreational activities and entertainment in the water. In particular, means must carry out registration according to national technical regulations and register with competent state agencies. Drivers of water recreation and entertainment means must be at least 15 years old and wear life jackets during the process of control. In some cases, means drivers must have means of driving certificates or be instructed about Safety skills before driving vehicles (Article 6).
Clearly state responsibilities of organizations and individuals to exploit operating areas and provide recreational and recreational services under water. It is noteworthy that these organizations and individuals are required to organize fun and entertainment activities under the water within the prescribed time and must have a plan to ensure security, safety, rescue and rescue. and preventing environmental pollution (Article 7).
Promulgating approval procedures, allowing the operation of water recreation areas and procedures for registering recreational and recreational water facilities (Chapter III and Chapter IV).
The promulgation of Decree 48/2019/ND-CP concretized the regulations on ensuring safety for water tourism and entertainment activities. As a premise of state management activities, contributing to ensuring safety for tourists as well as creating a fair playing field for businesses operating in entertainment services under water.
On 27/06/2019, the Prime Minister issued Decision No. 23/2019/QD – TTg on the List of goods subject to customs clearance at the entry gate. This decision takes effect from 01/09/2019.
Decision No. 23/2019/QD-TTg, the number of items that have to go through customs procedures at import border gates has been reduced compared to the previous regulations. Specifically, the items must go through customs procedures at the import gate including 14 items such as:
Cigarettes, cigars and other tobacco products used for smoking, inhaling, chewing, smelling, sucking;
Alcohol;
Beer produced from malt;
Passenger cars under 16 seats;
Two-wheel motorcycles, complete three-wheel motorcycles, with internal combustion piston engine with cylinder capacity over 125cc;
Aircraft, yachts;
Petrol types;
Air conditioning, with a capacity of 90,000 BTU or less;
Playing cards;
Votive paper;
Pre-substances of explosives and industrial explosives according to the list prescribed by the Ministry of Industry and Trade;
Imported goods which are on the list of those affecting national defense and security issued by the Government;
Imported goods from countries and territories have warnings about risks of epidemics as notified by the Ministry of Agriculture and Rural Development;
Goods in cases of application of trade defense measures and measures to prevent and avoid trade defense measures under decisions issued by the Minister of Industry and Trade.
Scrap items that are no longer in the list of imported goods must go through customs procedures at the import border gates. Imported waste will comply with separate regulations on import gates in Circular 01/2019 / TT-BCT of the Ministry of Industry and Trade.
In addition, this Decision also stipulates the location of customs procedures and goods that are imported under the attached list, the customs declarers may select the locations to carry out the procedures at the import border-gate Customs Sub-Department at the locations specified in this Decision or the locations outside the border gate in certain cases.
In the near future, after nearly 10 years of using and meeting various inadequacies in Incoterms 2010, the International Chamber of Commerce (ICC) unit is drafting and amending a copy of the international delivery conditions Incoterms 2020. Incoterms 2020 will officially issued at the end of 2019 and is effective from January 1, 2020 (the 100-year anniversary of the establishment of ICC).
Changes in Incoterms 2020 include:
1. Removing conditions EXW, DDP and FAS
The omission of these three conditions is explained by experts as follows:
– EXW is only used by companies with limited export experience, DDP is only used for sample or spare parts that are usually sent by courier companies to the buyer’s address; These two conditions are mainly used in domestic trade.
– FAS is rarely used in practice because FAS has similarities with FCA, the limitation of FAS is to deliver along the ship’s side, if the ship is late, the cargo must wait at the pier, and if it arrives early, the buyer’s ship must wait or the seller is forced to change the train in time to arrange the cargo.
2. Separate DDP conditions into 2 other conditions
DDP conditions will disappear and become two new conditions, DTP (Delivered at the destination station) and DPP (Delivered at the destination).
– DTP conditions: The seller is responsible for all transportation related expenses including customs duties when goods are delivered to the station (which can be seaports, airports, transport centers …) at the destination.
– Conditions DPP: The seller is responsible for all transportation related expenses including customs duties when the goods are delivered to any other location other than a transport station, for example, address of the buyer.
3. Deeply exploit FCA conditions
Derived from the advantages of FCA conditions: Flexible on delivery locations and suitable for multimodal transport means this condition can be applied in many different cases. In this new Incoterms rule, FCA will be expanded for road transport and sea transport.
4. Modify the terms FOB and CIF
FOB and CIF are two traditional conditions used in international trade, but most of the changes in previous Incoterms have not been fully conveyed to users. Most international buyers still use FOB and CIF for goods shipped by container instead of using two conditions of FCA and CIP. The draft Incoterms 2020 will modify the terms FOB and CIF that can be used for container cargo such as Incoterms 2000 and earlier editions.
5. Add new terms – CNI
CNI (Cost and Insurance – Cash and Insurance), this provision was created to fill the gap between FCA and CFR / CIF. This new condition allows the seller to be responsible for cargo insurance, while the buyer bears the risk of shipping.
6. Some other changes in Incoterms 2020
Some other content is added:
– Traffic security
– Regulations on transport insurance
– Relationship between Incoterms and international sales contracts
Overall, this update eliminates the existing shortcomings at Incoterms 2010, and will simplify rules, eliminate obscure words to help limit errors in the explanation and application process, including those who do not use English as the primary language.
On 24/12/2018, the State Bank issued Circular No. 35/2018/TT-NHNN for the provision of Internet banking services issued by the State Bank of Vietnam. Accordingly, this Circular takes effect from 01/07/2019.
According to Clause 6 Article 1 of Circular No. 35/2018/TT-NHNN dated December 24, 2018 of the State Bank of Vietnam: Amending and supplementing a number of articles of Circular No. 35/2016/TT- NHNN dated December 29, 2016 of the Governor of the State Bank of Vietnam providing regulations on safety and security for the provision of banking services on the Internet:
“3. Application software must authenticate users when accessing and does not have the function to remember access keys. In case of successive false authentication over the number of times prescribed by the unit, the application software must be automatically locked temporarily for the user to continue using”.
Regulations issued on the basis of improving safety and security; minimizing risks arising from the situation of users of Internet Banking application software who are accustomed to storing account information on Internet Banking applications, in some cases due to negligence or theft of devices Storage can be exploited by accountants and account hijacking.
Accordingly, from the effective date of this Circular dated 01/07/2019, Internet Banking software will no longer have the function of remembering login accounts. Therefore, users logging in Internet Banking have to fill both account information and password into Internet Banking application.
On June 26, 2019, the State Bank of Vietnam issued Circular No. 06/2019/TT-NHNN on guidance on foreign exchange management for foreign direct investment in Vietnam. This Circular comes into effect from September 06, 2019.
The Circular contains several new regulations in comparison with its predecessor (i.e. Circular No. 19/2014/TT-NHNN) as follows:
1. According to Article 11 of the Circular 19/2014/TT-NHNN, the acquisition of a foreign investor in target enterprise in Vietnam will be considered as foreign direct investment if the target enterprise obtained Investment Registration Certificate. Therefore, many banks have refused to open direct investment capital account for foreign investor because of lack of Investment Registration Certificate. On the other side, Circular No. 06/2019/TT-NHNN fixes this problem by providing more evidence for direct investment, among others, Notification of acquisition eligibility (or M&A Approval).
2. The usage of direct investment capital account for domestic loans of Vietnamese enterprises considered as foreign investor according to Investment Law 2014.
3. The denomination and payment of transfer of capital or investment project between non-residents might be performed in foreign currency, while that between residents or between a non-resident and a resident must be performed in Vietnam dong.
4. Only the payment and transfer of ownership interest in Vietnamese enterprises, which are considered as foreign investor, are made in direct investment capital account.
In conclusion, the Circular contributes to remove previous disagreement and discrepancy in Circular 19/2014/TT-NHNN and to facilitate foreign direct investment in Vietnam.
