Category: Law Documents

This is the highlight of the 2018 Competition Law passed by the National Assembly on June 12, Accordingly, for organizations violating regulations on unfair competition, the penalty will be a maximum of 2,000,000,000. In addition, if an organization commits a breach of the law on competition, it shall be punished with the following penalty:

•  A fine of up to 5% of the total turnover of the violating enterprise on the relevant market in the fiscal year preceding the year of commission of the offense shall be imposed for the violation of economic concentration.
•  The maximum fine level for other acts of violating the provisions of this Law is 200,000,000 VND.

Competition Law 2018 takes effect on July 1,

On June 28, 1818, the General Department of Customs issued Decision 1919 / QD-TCHQ, which stipulates the process of tax reduction for export and import goods at the time of customs procedures, including steps after:

• Receiving records;
• Actual inspection of damaged goods;
• Processing tax reduction documents;
• Issuing tax reduction decisions;
• The tax refund is reduced from the deposit account of the customs office or from the state budget;
• Record keeping, tax reduction information;
• Report on tax reduction data.

Besides, this Decision also promulgated the process of tax reduction after customs clearance; tax exemption; tax refund, no tax collection; To handle overpaid tax amounts on imported or exported goods. However, the above procedures do not apply to duty-free imported goods in direct service of national security and defense; Import duty-free goods under international treaties.

Decision 1919 / QD-TCHQ takes effect on July 13, 1818 and replaces Decision 1780 / QD-TCHQ dated 17/6/2016.

Article 16 of Circular 39:

• Obstacles: Circular 39 does not specify how to store electronic records of customs authorities. Custom must print the documents on the system to save it?

• Answer: The documents of the customs dossiers sent through the system, the patrons are not printed for archiving.

Article 18 of Circular 39:

• Obstacles: Circular 39 guides the declaration only in cases where the goods are packed together of many export declarations of the same goods owner and do not guide cases of many goods owners.　So will the case continue to comply with the guidance of Official Letter 6376 / TCHQ-GSQL?

• Answer: The activities of splitting and splitting the goods must be implemented in the CFS store in accordance with Circular 39; Written guidelines not consistent with Circular 39 will no longer be valid.

See more details in Official Letter 3899 / TCHQ-GSQL dated 04/7/2018.

Individuals and legal persons may select one of the registration centers for registration and provision of information on security measures and contracts according to law provisions. Registration centers shall register and provide information at the request of individuals and legal persons throughout the country, irrespective of the administrative boundaries of the centers where they are headquartered. Information on registration of security measures at the Registration Center; Information on distrait of judgment execution property or information on clearance or distrait of judgment execution property at civil judgment-executing bodies shall be sent by one of the following modes: Direct; By post; Via email; Via the online registration system.

In cases where security transactions or contracts already registered before the effective date of this Circular are still valid, organizations and individuals shall not have to re-register security measures or contracts that is in accordance with this Circular. This Circular takes effect from August 4.

To ensure compliance with the provisions of the Law on Tax Administration and guiding documents, in order to avoid the declaration and submission of declarations and tax reports beyond the prescribed time limit. Enterprises should properly grasp the specific time for submission of tax declaration dossiers and tax payment according to the current regulations applicable to July 2018 as follows.

07/2018

On 20/07/2018, enterprises who declare VAT on a monthly basis, need to submit these documents as below.

+ Declaration of VAT in June 2018

+ Personal income tax return of June 2018, if available

+ Pay VAT and PIT if applicable

Because of 30/07/2018 on Sunday,  enterprises need to submit these documents as below until 31/07/2018.

+ VAT declaration of quarter 2/2018

+ PIT declaration of quarter 2/2018, if available

+ Payment of temporary income tax of  quarter 2/2018, if any

+ Report on the use of invoices in quarter 02/2018

Vingroup officially joined the segment of affordable housing - Happy Town brand. With a price of just over 200 million VND / unit or more, Happy Town opens up the opportunity for people to work in low-income labor, contributing to the problem of housing is very urgent in the local.

https://thitruong.nld.com.vn