On March 11th, 2019, the Ministry of Industry and Trade issued Circular No. 05/2019/TT-BCT amending the Circular No. 16/2017/TT-BCT regulating the project development and the model electricity purchase and sale contract for solar power project. The circular takes effect from April 25th, 2019.
Accordingly, the electricity purchase price of the solar roof project is revised and supplemented, as following:
Before January 1, 2018, the purchase and sale price of electricity was VND 2,086 / kWh (excluding value-added tax, equivalent to 9.35 UScents / kWh, according to the central exchange rate of Vietnam dong against the dollar. The US announced by the State Bank of Vietnam on April 10, 2017 is VND 22,316 / USD;
As of January 1, 2018, the electricity purchase and sale price applicable under the provisions of Clause 1 of this Article shall be adjusted according to the central exchange rate of Vietnam dong against the US dollar announced by the State Bank of Vietnam. on the date of the last rate announcement of the previous year;
Add content of sample electricity purchase contract for rooftop solar power projects specified in the Appendix of this Circular.
Thus, the amendment and supplement of electricity trading price of the solar roof project is in line with the development trend of the society.
On December 28th, 2018, the Ministry of Finance issued Circular No. 136/2018/TT-BTC on amending and supplementing a number of articles of Circular 13/2017/TT-BTC dated February 15th, 2017 on managing cash revenues and expenditures through the State Treasury system.
Accordingly, from the date of April 1, 2019, when the circular takes effect, the collection and spending, the use of cash through the State Treasury system will be managed more closely than the previous time.
Besides, enterprises and economic organizations having accounts at commercial banks will pay the state budget by non-cash payment or by cash at commercial banks for remittance. into the State Treasury account. As a rule, since April 1, 2019, all economic organizations have been established and operated in accordance with the laws of Vietnam including enterprises, cooperatives, cooperative unions and other organizations conducting other business investments will not use cash when performing activities to submit to the State budget.
In addition, cash withdrawals and expenditures of organizations using the state budget are also limited and limited. Under the new rules in effect, units using the state budget will not be allowed to use more than VND 100,000,000 in cash for each transaction.
Thus, with the promulgation of the Circular No. 136/2018 above, the Ministry of Finance responded proactively and positively to the Government’s guidance in improving transparency and efficiency of revenue and expenditure, Using the State Budget, contributing to repress corruption and negative effects.
On March 20th, 2019, the Ministry of Finance issued Decree No. 29/2019/ND-CP stipulating details on the licensing of labor sublease activities, the deposit and work list to be performed labor sublease takes effect on May 5th, 2019.
Accordingly, Decree No. 29/2019 / ND-CP has the following outstanding contents:
One of the conditions for enterprises to be licensed to sublease labor is the enterprise that has made a deposit of 2,000,000,000 dong (two billion Vietnam dong) at a commercial bank or a foreign bank branch. established and legally operated in Vietnam.
The enterprise sends a set of documents as prescribed to the Department of Labor, War Invalids and Social Affairs of the province or city under central authority (hereinafter referred to as the Department of Labor – Invalids and Social Affairs) where the enterprise places its head office. Head office to apply for a license. The Chairman of the provincial People’s Committee considers and grants a license to the enterprise.
Issued 20 job portfolios for sublease.
Thus, Decree No. 29/2019/ND-CP has detailed regulations on the licensing of labor sublease activities, the deposit and the list of jobs to be subleased.
On January 22rd, 2019, the Government issued Decree No. 05/2019/ND-CP on internal audit. The Decree takes effect from April 1, 2019.
Accordingly, the Decree stipulates that enterprises must perform internal audit, including:
Listed company;
Enterprises where the State owns more than 50% of charter capital are parent companies operating under the model of parent company – subsidiary companies;
State-owned enterprises in which the parent company operates according to the parent-subsidiary company model.
These enterprises can hire an independent auditing organization to qualify for audit activities in accordance with the law to provide internal audit services. The hiring of internal audits of enterprises of the Ministry of Defense and the Ministry of Public Security shall comply with the regulations of the Minister of Defense and the Minister of Public Security.
In summary, Internal auditing helps enterprises achieve their goals through a systematic and disciplined approach to assess and improve the effectiveness of risk management, control systems and management processes, value protection for businesses.
On April 19th, 2019, the Prime Minister issued Decision No. 18/2019/QD-TTg stipulating the import of used technological line machines, Decision 18/2019/QD-TTg will effective from May 16, 2019
Accordingly, Decision 18/2019/QD-TTg regulates the import of used line machinery as follows:
Age of equipment does not exceed 10 years; For machinery and equipment in some specific areas, it may be over 10 years but not exceeding 15 years or 20 years;
Produced according to standard;
Compliance with QCVN regulations on safety, energy saving and environmental protection;
In case there is no related QCVN, the imported machinery and equipment must be: Manufactured in accordance with the Vietnamese technical standards of Vietnam or the national standard of one of G7 countries and Korea Safe, energy saving and environmental protection. training courses to start business, business administration and intensive business administration.
Thus, Decision 18/2019/QD-TTg provides more detailed age of equipment for machinery and equipment in some specific fields than Circular 23/2015/TT-BKHCN dated 13/11/2015) create favorable conditions and a clear legal mechanism for importing machinery and equipment for businesses when they want to import used machinery and equipment into Vietnam.
On March 15th, 2019, the Ministry of Justice issued Circular No. 02/2019/TT-BTP stipulating the obligation to participate in compulsory training of lawyers. The circular takes effect from May 5th, 2019
Accordingly, Circular No. 02/2019/TT-BTP provides many new regulations that stand out from Circular 10/2014/TT-BTP as follows:
– Reducing the time to participate in professional training of lawyers at least 8 hours / year (instead of the current regulation of 16 hours / year).
– New regulations on the time for redemption to participate in training in that year (this point has not been stipulated in Circular 10/2014 / TT-BTP). Specifically the following cases:
– Writing legal research papers published in domestic and foreign law specialized journals; …
– Participate in teaching law, law practice skills, ethics and professional law practice at law bachelor training institutions, law training institutions;
– Participate and complete the judicial title training program;
– Participate in and complete professional training courses, lawyers on lawyers and law practice abroad;
– Participate in training programs, seminars, seminars from 1 day or more on the contents specified in Article 3 of Circular 02/2019 organized by the Department of Justice, Department of Justice Assistance and supplementation.
(01 time of participation and completion is estimated by 08 hours of performing the training obligation)
Thus, Circular 02/2019/TT-BTP has been issued to create an open mechanism for training methods to improve skills and allow the conversion of time to participate in compulsory professional training. Service of Lawyers. This provision has both ensured the improvement of professional knowledge of lawyers and is also consistent with the actual situation of lawyers in practice.
On March 7th, 2019, Vietnam Social Insurance issued Official Letter No. 679/BHXH-BT guiding the collection of compulsory social insurance for foreign citizens working in Vietnam effective on 07/3/2019.
Accordingly, Official Letter No. 679/BHXH-BT has the following outstanding contents:
– An employee who is a foreign citizen working in Vietnam is subject to compulsory social insurance when he has a work permit or practice certificate or a practice license issued by a competent Vietnamese agency granting and having an indefinite term labor contract, a labor contract with a term of one year or more with employers in Vietnam.
– From January 1, 2022, the above-mentioned foreign laborers pay 8% of the monthly salary to the retirement and death fund.
Thus, Official Letter No. 679/BHXH-BT has clearly defined the subjects of compulsory social insurance payment, social insurance premiums for workers who are foreign nationals, ensuring consistency in the management of revenue sources of Social insurance fund.
On February 27th, 2019, the Hanoi City Tax Department issued Official Letter No. 7623/CT-TTHT on the corporate income tax policy which set criteria for enterprises to determine deductible expenses.
Accordingly, Official Letter No. 7623/CT-TTHT provides guidelines for determining deductible expenses, after reporting to the General Department of Taxation, specifically:
Article 6, Circular No. 119/2016/TT-BTC, Amending and supplementing Circular No. 78/2014/TT-BTC dated June 18th, 2014 of the Ministry of Finance guiding the implementation of Decree No. 218/2013/ND-CP dated December 26th, 2013 of the Government stipulates and guides the implementation of the Law on Enterprise Income Tax as follows:
Enterprises can deduct all expenses if they meet the following conditions:
a) Actual expenses arising related to production and business activities of enterprises;
b) Expenses with sufficient legal invoices and vouchers as prescribed by law.
c) Expenses if there are invoices for buying goods and services each time with a value of VND 20 million or more (price inclusive of VAT) when payment must have non-cash payment vouchers.
The promulgation of Official Letter No. 7623/CT-TTHT of Hanoi Tax Department shows that this is a regular activity of the agency, in order to support enterprises in solving problems and applying the law on tax.
On December 28th, 2018, the Ministry of Finance issued Circular No. 132/2018/TT-BTC guiding the accounting regime for micro enterprises. This Circular takes effect from February 15th, 2019, applicable to the fiscal year beginning or after April 1st, 2019.
Accordingly, the subjects applying Circular No. 132/2018/TT-BTC are micro enterprises (enterprises with no more than 10 employees paying social insurance; annual revenue or capital of no more than VND 3 billion if they belong to the field In agriculture, forestry, fishery, industry and construction sectors, there are no more than 10 employees paying social insurance and the total revenue is not more than VND 10 billion or the total capital is not more than VND 3 billion in the field of trade and services , including micro-enterprises that pay corporate income tax by the method calculated on taxable income and the method as a percentage of sales of goods and services.
Accounting regime for micro enterprises has the following characteristics:
– Regarding organizational structure: Micro enterprises are arranged in charge of accounting without having to have a chief accountant;
– About accounting books: Micro enterprises are able to build appropriate accounting books themselves. If it is impossible to build by itself, use the form and method of recording in this Circular;
– Regarding accounting methods: Microenterprises do not have demand, they are not required to open accounting accounts but only write applications on accounting books to monitor revenues and incomes;
– Regarding financial statements: Micro enterprises are not required to prepare financial statements to submit to tax authorities. In addition to the prescribed reports, micro enterprises can make accounting reports for corporate governance and management.
It can be seen that, with the above mentioned points, Circular No. 132/2018/TT-BTC is expected to reduce costs and burdens of personnel, and be compact in accounting books, solve points problems when business households switch to enterprises.
