Category: Law Documents

Vietnam has the lowest non-cash transactions in the region. (Source: World Bank Statistics)

According to the World Bank (WB), Vietnam had the lowest non-cash transactions in the region at 4.9%. While this rate in China is 26.1%, Thailand is 59.7% and Malaysia is 89%. Although e-commerce in Vietnam has the highest growth rate in the region, however, the online payment rate is very low.

http://vtv.vn/kinh-te/viet-nam-van-con-chi-tieu-bang-tien-mat-toi-90-2018071616080418.htm

This is the important content provided for in the Law on denunciation of 2018, effective from 01/01/2019. Accordingly, when receiving information with denunciation contents, if falling into one of the following cases, the competent organizations or individuals shall not handle such cases according to regulations:

• Name, address of the denouncer;
• Verification, verification can not identify the denouncers;
• Denouncers use the name of another person to denounce;
• Information with denunciation is not expressed in the application or can not be presented directly at competent agencies or organizations.

In addition, the law also added provisions allowing the denouncers the right to withdraw content denounced.

The Government Office has just issued Official Letter 6519 / VPCP-KGVX on the Prime Minister’s comments on the holidays and festivals in the year 2019 as follows:

• On New Year’s Day: holiday from Monday, December 31, 1818 to the end of Tuesday, January 1, 1919; Make up on Saturday, January 5, 1919.
• Lunar New Year: holiday from Monday, 04/02/2019 to the end of Friday, 08/02/2019.
• April 30 and May 1: leave from Monday, April 29, 2016 until the end of Wednesday, May 1, 1919; Make up on Saturday, May 4, 2019.

Agencies and units implementing the holiday plan on the implementation note: arranging and arranging reasonable working sections to handle affairs continuously, ensuring the good service of organizations and individuals. Agencies and units that do not take regular breaks on Saturdays and Sundays shall base themselves on the specific programs and plans of their units to arrange suitable holidays.

Official Letter 6519 / VPCP-KGVX dated 11/7/2018.

Increasing VAT affects all households. For the poor and near poor, VAT increases have a significant impact. Near-poor households may experience reduced actual expenditure and fall into poverty.

The draft of the VAT increase – VAT of the Vietnamese ministry of finance launched in August/2017 faced the opposition of public opinion. By January, 2018, in the draft report to the Government proposed to develop the Law amending and supplementing some articles of the Law, the Ministry of Finance has extended the VAT increase.

Specifically, Clause 3, Article 8 of the Law on Value Added Tax currently regulates the ordinary tax rate of 10%. Ministry of Finance proposed, from January 1^st , 2019, increase the VAT from 10% to 11%; As of January 1^st , 2020, this tax will increase from 11% to 12%. By 2020, the VAT will increase by 20% compared to the current plan proposed by the Ministry of Finance.

Before the reaction of the public, at the meeting on May 26^th 2018, the Minister of Finance confirmed that he would keep the VAT rate at 10%, not raise the VAT to 11-12%.

http://www.tinkinhte.com/viet-nam/kinh-te-vi-mo/tang-thue-vat-anh-huong-nhu-the-nao-toi-nen-kinh-te_t12-c009001-a27036-m46.html

According to a survey conducted by the State Bank of Vietnam, 30% of credit institutions believe that there is a shortage of workers needed for their current needs.

46% of credit institutions have recruited more workers and 62% of credit institutions plan to recruit more workers in the third quarter. It is expected that by the end of 2018, 70% of credit institutions will increase the number of employees Compared to 2017, 23% of credit institutions are expected to remain unchanged and 7% will cut their labor force.

https://vietstock.vn/2018/07/ngan-hang-khat-lao-dong-757-615542.htm