Many new policies take effect from March 2014

From March 1, 2014, many new policies come into effect.

Some transactions are not paid for in cash.

According to the Decree on cash payments effective from March 1, 2014, organizations using state budget funds are not allowed to pay in cash in transactions, except for some cases where cash payments are allowed according to regulations of the Ministry of Finance.

Organizations using state capital do not pay in cash in transactions, except in some cases where cash payment is permitted according to regulations of the State Bank.

The Decree also stipulates that organizations and individuals do not pay in cash in securities transactions on the Stock Exchange as well as in securities transactions registered and deposited at the Securities Depository Center not through the trading system of the Stock Exchange.

Enterprises do not make cash payments in capital contribution transactions and in the purchase, sale, and transfer of capital contributions to enterprises. Enterprises that are not credit institutions do not use cash when borrowing and lending to each other.

Individuals who die while protecting security and order are considered for recognition as martyrs.

According to Decree No. 6/2014/ND-CP on measures to mobilize the masses to protect national security and maintain social order and safety, individuals who die due to direct participation in the work of protecting security and order are considered for recognition as martyrs.

Agencies and officials in charge of protecting security and order, when applying mass mobilization measures, are responsible for implementing necessary measures according to the provisions of law to protect the honor and property of agencies and organizations; and the life, health, honor, dignity and property of individuals when applying mass mobilization measures.

At the same time, implement according to authority or propose to competent authorities to implement regimes and policies for agencies, organizations and individuals with achievements or who have suffered losses in applying measures to mobilize the masses to protect security and order according to the provisions of law.

The Decree takes effect from March 8, 2014.

Individual businesses are not allowed to print their own invoices.

According to Decree No. 4/2014/ND-CP amending and supplementing a number of articles of Decree No. 51/2010/ND-CP dated May 14, 2010, business individuals are not allowed to print invoices themselves for use in selling goods and services.

Decree 4/2014/ND-CP also adds a number of provisions compared to current regulations. Specifically, for enterprises that violate the management and use of invoices; enterprises with high risks of compliance with tax laws, the Ministry of Finance shall, based on the provisions of the law on tax administration and the law on information technology, implement appropriate monitoring and management measures to properly implement the provisions of the law on invoices.

Enterprises using self-printed invoices that have violated the regulations on invoices and are administratively sanctioned for tax evasion or tax fraud, or enterprises that are classified as high-risk enterprises in terms of tax according to the provisions of the Law on Tax Administration, are not allowed to use self-printed invoices but must purchase and sell invoices from tax authorities within a period of 12 months...

The Decree takes effect from March 1, 2014.

Exemption from import and export tax on raw gold by the State Bank

The Prime Minister has signed a Decision on exemption of export and import taxes on raw gold exported and imported by the State Bank of Vietnam.

Accordingly, from March 15, 2014, raw gold exported and imported by the State Bank of Vietnam is exempt from export and import tax.

Forensic appraisal training regime

According to the Prime Minister's Decision on the judicial appraisal compensation regime effective from March 15, 2014, the judicial appraisal compensation level per working day for one person performing the appraisal is prescribed above at three levels: VND 500,000; VND 300,000 and VND 150,000.

In addition to the regulation on judicial appraisal compensation by working day, the Decision also regulates the judicial appraisal compensation by case.

Pay additional social insurance to calculate retirement and death benefits

According to the Decision regulating the payment of additional social insurance (SI) to calculate the retirement and death benefits prescribed in Clause 1, Article 4 of the Social Insurance Law for subjects receiving living expenses in the People's Public Security from January 1, 1995 to December 31, 2006, then converted to salary recipients, the annual supplementary SI contribution level = Number of subjects x minimum common salary for each period x contribution rate x number of months of contribution.

The additional social insurance contribution rate is equal to 14% of the general minimum wage/person/month of additional contribution period.

The additional social insurance contribution to the social insurance fund for the above-mentioned subjects is guaranteed by the State budget.

The decision takes effect from March 26, 2014.

Poor households can borrow 5 million VND/household with 0% interest rate

According to the Joint Circular guiding the integration of capital sources to implement the Program to support rapid and sustainable poverty reduction in poor districts, the State budget supports 50% of the interest rate on loans at State commercial banks for poor households to plant production forests.

Poor households can borrow up to 5 million VND/household from the Social Policy Bank with 0% interest rate (once) for 2 years to buy livestock breeds (buffalo, cow, goat) or concentrated poultry breeds or aquatic breeds.

Agricultural, forestry and fishery processing establishments investing in poor districts are supported by the State budget with 50% of the loan interest rate at State commercial banks. Workers from poor households and ethnic minorities are entitled to borrow capital with an interest rate equal to 50% of the current loan interest rate of the Social Policy Bank applied to policy subjects going to work abroad.

In addition, support poor households in villages and border areas with 15 kg of rice/person/month during the time when they are not self-sufficient in food.

Support each poor district with 100 million VND/year to promote trade, advertise and introduce products, especially local agricultural, forestry and aquatic specialties; provide market information to farmers...

These regulations are effective from March 28, 2014.

Many incentives in education for people with disabilities

According to the Joint Circular regulating education policies for people with disabilities, effective from March 5, 2014, people with disabilities from poor and near-poor households studying at educational institutions are entitled to a monthly scholarship equal to 80% of the basic salary as prescribed by the Government from time to time.

People with disabilities who are eligible for the policy and are studying at universities and vocational colleges are granted a 10-month scholarship per school year; people with disabilities who are eligible for the policy and are studying at preschools, general education institutions, continuing education centers, specialized schools, and centers to support the development of inclusive education are granted a 9-month scholarship per school year.

Disabled people from poor or near-poor households studying at educational institutions are supported with funds to purchase learning tools and supplies at the rate of VND 1,000,000/person/school year.

In addition, people with disabilities studying at educational institutions are exempted from or have reduced tuition fees and are supported with study costs according to regulations.

The statute of limitations for administrative violations in the field of invoices is 1 year.

The Ministry of Finance has issued Circular 10/2014/TT-BTC guiding the handling of administrative violations related to invoices. Accordingly, the statute of limitations for handling administrative violations in the field of invoices is 1 year.

For administrative violations regarding invoices leading to tax evasion, tax fraud, late tax payment, and under-declaration of tax obligations, the statute of limitations for handling administrative violations according to the provisions of tax law is 5 years.

Also according to the Circular, the mandatory contents that must be correct on self-printed invoices and electronic invoices are invoice symbols, invoice template symbols, and invoice numbers. A fine of VND 2,000,000 to VND 4,000,000 shall be imposed on the act of self-printing invoices or creating electronic invoices that do not contain one of the mandatory contents as above.

This Circular takes effect from March 2, 2014.

Guidance on handling administrative violations in the securities sector

The Ministry of Finance issued Circular 217/2013/TT-BTC guiding the implementation of administrative sanctions for violations in the field of securities and the securities market, effective from March 1, 2014.

The Circular stipulates that the statute of limitations for administrative sanctions for violations in the field of securities and the securities market is 02 years from the date of termination of the violation for administrative violations that have ended or from the date of discovery of the violation for administrative violations in progress. The date of discovery of an administrative violation is the date of making a record of that administrative violation.

Regarding the determination of fines for individuals and organizations that violate the law in the field of securities and the securities market, the Ministry of Finance provides guidance: The specific fine for a violation is the average of the fine range prescribed for that violation. The average of the fine range is determined by dividing the total of the minimum fine and the maximum fine of the fine range in half.

According to VOV