On July 17, 2018 General Department of Customs issued Document No.4202/TCHQ-PC to guide on management of imported scraps from aboard into Vietnam.
Accordingly, Document No.4202/TCHQ-PC guiding the disposal of commodities that are used scraps, used goods is characterized as follows:
1. The Customs Department reviews and informs enterprises / shipping companies/ shipping agent to work together to identify the owner, classification by type, quantity, volume, composition, nature, time and place of storage.
2. Collecting, analyzing information, investigating, verifying, actively checking the absence of customs declarers with the goods have signs of violation and show signs of taking advantage of the import scraps materials in order to commit acts of smuggling or illegally transporting goods across borders.
3. Base on the result of above activities, the backlog of goods is handled as follows:
a) Goods are waste, hazardous waste
– In cases that are identified as material evidences of criminal cases, they shall be handled according to the provisions of the criminal procedure legislation:
– In cases that determined not to be material evidences of criminal cases, they shall be administratively sanctioned according to regulations and must be taken out of the Vietnamese territory.
b) Goods are scrap material:
– Goods consignees are enterprises that have Certificate of eligibility for environmental protection in importing scrap materials for production materials: To urge the consignees to carry out the customs procedures according to regulations;
– Goods consignees are enterprises that do not have Certificate of eligibility for environmental protection in importing scraps materials for production materials: Request the shipping company/shipping agent to inform the consignee of the ineligibility to carry out the import procedures and take them out of the Vietnamese territory.
– In cases there are no national technical standards on environment; Request the shipping company/shipping agent to inform the consignee that the customs office has no basis to consider the customs clearance and must remove from the territory of Vietnam.
4. Disposal of goods which are backlog scrap material as follows:
– With commodities that are backlog scrap material at the port but not yet and being handle, the process shall be conduct in accordance with steps 1, 2 and 3 as above.
– With commodities that are backlog scrap material at the port which completed the handling, they shall be reported to the General Department of Customs (via the Customs Supervision and Management Department) contents, results of processing each specific shipment.
The guidance in Document No.4202/TCHQ-PC is considered to be effective and timely guidance of the General Department of Customs in the current context, when importing and trading scrap materials have a tendency to increase sharply and complicatedly, there are many risks of polluting the environment and causing public annoyance.
On July 06, 2108, the Prime Minister issued Decision No.27/2018/QD-TTg on the system of economic sectors in Vietnam. This decision takes effect from August 20, 2018.
Accordingly, the Decision No.27/2018/QD-TTg has added many new industries in the system of economic sectors of Vietnam, specifically listed in the list of economic sectors of Vietnam including 5 levels as follows:
1. The sector level 1 include 21 sectors which are encoded in alphabetical order from A to U;
2. The sector level 2 consist of 88 sectors; each sector is encoded in two numbers according to corresponding sector level 1;
3. The sector level 3 consist of 242 sectors; each sector is encoded in three numbers according to corresponding sector level 2.
4. The sector level 4 consist of 486 sectors (increase 49 sectors); each sector is encoded in four numbers according to corresponding sector level 3;
5. The sector level 5 consist of 734 sectors (increase 92 sectors); each sector is encoded in five numbers according to corresponding sector level 4.
Decision No.27/2018/QD-TTg will replace Decision No.10/2007/QD-TT when it takes effect. The increase in the number of sectors and details of sectors in the economic sector of Vietnam to meet the trend of diversification of business lines in practice, it contributes to solving the situation of no suitable professions in the Vietnamese economic branch system when registering business lines of enterprises.
On July 13, 2018, the Prime Minister issued Directive No.20/CT-TTg on restructure inspection and examination activities for enterprises in order to improve the business environment, enhance national competitiveness. This Directive took effect from the date of its promulgation.
Accordingly, the Prime Minister has issued a directive on the plan to reduce and simplify business conditions as follows:
1. Ministers and heads of ministerial-level agencies shall thoroughly grasp the reform of specialized inspection activities and reduce the business conditions as one of important solutions to accelerate the growth and release of social resources;
2. Prior to August 15, 2018, Ministries and branches must complete promulgation according to their competence and submit to competent authorities documents to implement the plan on reform of specialized inspection activities, the reduction and simplification of business conditions;
3. Ministries and ministerial-level agencies in the course of formulating projects, draft legal documents shall prescribe the administrative procedures, business conditions and the list of inspected goods and/or products have to ensure clearly, do not create barriers to enter the market, do not generate costs for businesses
It can be seen that Directive No.20/CT-TTg has shown the determination of the State in seriously grasping the implementation of the reduction and simplification of business conditions in order to create favorable conditions for business, create competitive advantage for the country.
On July 09, 2018 the State Bank of Vietnam released Decision No.417/QĐ-NHNN to approve the plan on simplification of business conditions under the management capacity of the State Bank of Vietnam. The Decision take effected from issuance date.
Accordingly, Decision No.1417/QĐ-NHNN assigns specific tasks to units implementing the simplification of business conditions as follows:
1. The focal units shall have to take responsible for accepting the contents of the approved plan when drafting the Decree, Circular of the State Bank of Vietnam in the process of amending, supplementing or replacing them (planned to submit to the Government or submit to the Governor for issuance in the third quarter of 2018).
2. For simplification of business conditions plan related to credit institutions’ ranking results, the Banking Inspection and Supervision Agency shall have to adopt the approved plan in the draft legal documents concerned after the Circular on Credit Institutions and Branches of the Foreign Bank in addition to being issued.
3. For simplification of business conditions plan that is not in the above cases, assigning to the Legal Department to act as the principal body in elaborating 01 Decree and 01 Circular in the form of a document amending many documents to implement the plan on simplification of business conditions. The term of submit to the Government to release Decrees and the term to release Circulars of the State Bank which is directed by the Government and the Prime Minister.
4. During development of Decrees, Circulars to implement the simplification of business conditions, units continue to proactively review to propose additions and adjustments to the simplified contents in line with the management requirements and the actual law-making work at the time of elaboration of documents.
Therefore, it can be seen that Decision No.1417/QĐ-NHNN is expected to help establishment and activities process of banks become simpler when minimizing the current complex business conditions.
On June 30, 2018, the Government issued Decree No.94/2018/ND-CP regulating on public debt management. This Decree took effect since July 1, 2018.
Accordingly, Decree No.94/2018/ND-CP specifies a number of specific contents as follows:
1. The public debt security index is formulated on the basis of the orientation on the five-year socio-economic development plan; the implementation of public debt safety targets over the last 5 years; growth rate and internal saving rate of the economy; the State budget revenue and expenditure balance. When the public debt safety index meets the public debt safety warning threshold, the Ministry of Finance shall submit to the Government or the National Assembly Standing Committee for measures to ensure that public debt safety targets do not exceed the public debt ceiling.
2. Risks for public debt include the risk of interest rates, foreign exchange rates due to fluctuations in the financial market; liquidity risk due to the lack of liquid financial assets to fully and timely fulfill the debt obligations as committed, including repayment capacity of the central budget and local budgets; risks due to fluctuations in the financial market affect the mobilization of capital leading to high debt repurchase or loss of debt; credit risk is due to re-borrowers, guaranteed subjects can not pay debts in full and on time; other types of risk can affect public debt safety.
The risk assessment is carried out periodically in association with the five-year loan and repayment plan, the three-year public debt management program and the annual plan for borrowing and repaying the public debt. Based on the risk assessment, the Ministry of Finance shall propose solutions to prevent risks to public debts; provincial People’s Committees propose solutions to prevent risks to local government debt.
Basing on the risk assessment and the level of risk effect for each debt or list of debts, the Ministry of Finance shall elaborate the debt restructuring plan and submit it to the Prime Minister for decision and organize the implementation thereof. The Provincial-level People’s Committees shall report to the People’s Councils of the same level for decision the debt restructuring plans of local administrations and implement.
Through detailed and specific regulations on public debt management, Decree No.94/2018/ND-CP is expected to enhance the sense of responsibility, professional skills, as well as improve the effectiveness of state management of competent agencies and individuals.
On 07/05/2018, the Ministry of Finance issued Circular No. 45/2018 / TT-BTC guiding the regime of management, depreciation and depreciation of fixed assets at agencies, organizations, units and units. The fixed assets allocated by the State to the enterprise for management shall not include the State capital in the enterprise. This Circular takes effect on July 2
Accordingly Circular 45/2018 / TT-BTC regulates in detail the scope of fixed assets for depreciation and amortization. Specifically, fixed assets at public non-business units must be deducted, including:
- Fixed assets at public non-business units shall ensure themselves regular expenditures and investment expenditures;
- Fixed assets at public non-business units subject to full calculation of depreciation of fixed assets into service charges according to law provisions;
- Fixed assets of public non-business units not falling within the scope of provisions at Points a and b of this Clause shall be used for business, lease, joint venture or association without forming legal entities. New in accordance with the law.
As such, it can be seen that the Circular No. 45/2018 / TT-BTC stipulated in detail the list of assets as well as the useful life and wear rate of tangible fixed assets used in enterprises, This contributes to the efficient management and use of these assets, avoiding unnecessary losses in enterprises.
On 15/01/2018, the Government issued Decree No. 10/2018/ND-CP detailing a number of articles of the Law on foreign trade management of trade remedies. This Decree takes effect from the date of its promulgation.
Decree No. 10/2018 / ND-CP detailing some articles of the Law on Foreign Trade Management on the basis of the procedure, order, procedures, time, content and grounds for termination of investigations. trade defense; How to determine the damage of the domestic industry; refrain from circumventing trade remedies; application and review of trade remedies; the coordinating responsibility of relevant agencies in the investigation process; exemption from the application of trade remedies; Application of trade remedies measures applied to export goods of Vietnam.
Accordingly, this Decree stipulates that in anti-dumping, anti-subsidy investigations, producers in a particular geographic market in Vietnam may be considered as domestic manufacturing. if the following conditions are met:
Producers in the geographic market sell all or almost all of the goods they produce in that market;
The demand for that geographic market is not significantly met by similar domestic producers in other geographic markets.
In addition, the Decree No. 10/2018/ND-CP also provides for the application of anti-dumping, anti-subsidy, tax rates, tax deadlines and the extension of the tax period. Clause 1 of Article 81 and Clause 1 of Article 89 of the Law on Foreign Trade Management.
An anti-dumping or anti-subsidy tax shall be applied not earlier than 60 days from the date the Minister of Industry and Trade decides to investigate. In cases where the anti-dumping or anti-subsidy tax is applied lower than the dumping margin or the subsidy level stated in the preliminary conclusions, or in cases where the organizations or individuals exporting the goods under investigation Vietnam requested an extension of the application of provisional anti-dumping tax and anti-subsidy tax and the volume and quantity of investigated goods of the requested exporting organization or individual accounted for a significant proportion of the total volume , the number of investigated goods imported into Vietnam, the Minister of Industry and Trade may extend the duration of application of anti-dumping tax and anti-subsidy provisional, but the extension duration shall not exceed 60 days. Within 15 days after the Investigation Agency sends the Minister of Industry and Trade final conclusion, the Minister of Industry and Trade shall issue a decision on the case.
Decree No. 10/2018 / ND-CP contains detailed provisions on trade remedies in the most detailed way, contributing to reducing difficulties and obstacles for enterprises, thereby improving the quality of management. State in commercial activities.
On June 06, 2018 the government issued Decree No.86/2018/NĐ-CP provides on cooperation and investment of foreign investor in education field. This Decree takes effect from August 01, 2018.
Accordingly, Decree No.86/2018/NĐ-CP regulates on investment in the field of education, as follows:
1. Type of educational establishment with foreign owned capital
– Short-term training and fostering establishments.
– Pre-school education institution.
– General education establishments (primary schools, junior high schools, upper secondary schools, multi-level general education schools).
– Higher education institution.
– Branches of foreign-invested higher education institutions in Vietnam.
2. Operation duration: Project implementation time is not exceeding 50 years, counting from the date of issuance of the investment registration certificate but not longer than the land lease term.
3. Conditions of capital for establishing education institution with foreigner owned capital
– Investment project of establishing a pre-school education institution has to have amount of invested money is 30 million Vietnam dongs/a child at least (exclude land using fees). Total of investment capital is counted base on the time of the highest expected scale. The plan of investment capital must be fit with the expected scale of each period.
– Investment project of establishing a general education institution has to have amount of invested money is 50 million dongs/student at least (exclude land using fees). Total of investment capital is counted base on the time of highest expected scale, but it is not lower than 50 billion dongs.
– Investment project of establishing a short-term training and fostering institution must has to have amount of invested money is 20 million dongs/leaner at least (exclude land using fees). Total of investment capital is counted base on the time of highest expected scale.
– Investment project of establishing a higher education institution has to have total of investment capital is 1.000 billion dongs at least (exclude land using fees). Foreign-invested economic organizations being project investors shall prove their financial capability according to the provisions of the Investment Law. By the time of appraisal, universities must be allowed to invest more than 500 billion VND.
– Investment project of establishing branches of foreign-invested higher education institutions in Vietnam have to amount of invested money is 250 billion dongs at least (exclude land using fees). By the time of appraisal, branches must be allowed to invest more than 250 billion VND.
– For foreign-invested educational establishments which do not build new material foundations but they are only sub-lease or contribute by the Vietnamese parties with material facilities available for operation, the minimum investment level must meet 70% of the above levels.
Thus, compared with period document, Decree No.86/2018/NĐ-CP sets higher requirements for investment capital, in order to improve the stability of foreign investment projects in the field of education.
On May 24, 2018 the Ministry of Finance promulgated Circular No.52/2018/TT-BTC amending and supplementing some of articles of Circular No.08/2016/TT-BTC on January 18, 2016 on management and payment of investment capital funded with the state budget capital, the Finance Ministry Circular No.108/2016/TT-BTC dated 30/06/2016 amending and supplementing some of articles of the Circular No.08/2016/TT-BTC dated 18/01/2016.
Accordingly, Circular No.52/2018/TT-BTC has had noteworthy amendment and supplement such as:
1. Expanding the scope and object of regulation:
Formerly, some projects have special qualities (namely: Investment projects on construction of socio-economic infrastructure works of poor districts; Investment projects belonging to communal budgets and projects invested by the commune level; Investment projects under forest protection and development plans and investment projects using government bond capital) which are the Government and the Prime Minister shall apply the specific management mechanism according to the provisions of separate circulars. However, at present, all investment projects funded by the state budget are subject to uniform management regulations.
2. Supplement provisions with specific construction, namely:
Circular No.52/2018/TT-BTC regulates investment projects of state secret works managed by ministries, branches and localities, the State Treasury shall only control the appropriateness and adequacy of the capital withdrawal vouchers and the money transfer at the request of the investor. Agencies and investors are responsible for controlling the payment content and the project file.
3. Amendment regulations on management, payment public investment capital:
Circular No.52/2018/TT-BTC provides to add some principles of advance capital to strengthen controlling of advance recovery, because of in case, the contractor does not return to carry out the procedures for recovering the advanced capital and closing the accounts at the State Treasury due to the fact that the value of payment for completed volumes has not reached 80% of the contract value.
It can be seen that Circular No.52/2018/TT-BTC has been important amended and supplemented, this will facilitate the implementation of the policy of speeding up the disbursement of public investment capital of the Government and at the same time contributing to ensuring transparency in the operation of financial agencies from central to local level.