The National Assembly passed three laws on notarization, planning, and taxation.
On November 26th, the National Assembly voted to approve three draft laws: the Law on Notarization (amended); the Law on Urban and Rural Planning; and the Law on Value Added Tax (amended).
The amended Notarial Law has 8 chapters and 76 articles, regulating notaries, notarial practice organizations, notarial practice, notarial procedures, and state management of notarial services, and will take effect from July 1, 2025.
The law clearly stipulates that transactions requiring notarization are important transactions, demanding a high level of legal security, and are mandated by law or by the Government to be notarized. The Ministry of Justice is responsible for reviewing, updating, and publishing notarized and authenticated transactions on the Ministry of Justice's electronic portal.
The Law on Urban and Rural Planning consists of 5 chapters and 59 articles, and will come into effect on July 1, 2025.
The law stipulates regulations on urban and rural planning systems; the preparation, appraisal, approval, review, adjustment, and management of urban and rural planning; and state management of urban and rural planning.
According to this Law, urban areas are classified into 6 categories: special, type I, type II, type III, type IV, and type V, as stipulated in the law on urban classification.
The determination of standards and classification of urban and rural administrative units is carried out in accordance with the provisions of the law on the organization of local government.
Based on the socio-economic development situation of each period, the Government submits to the Standing Committee of the National Assembly specific regulations on urban classification to ensure the development trends of green, smart, modern, sustainable cities that are adaptable to climate change.
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The amended Value Added Tax Law comprises 11 articles regulating taxable subjects, non-taxable subjects, taxpayers, tax calculation basis and methods, deduction and refund of value added tax, and will take effect from July 1, 2025. However, the provision regarding the revenue threshold for household and individual businesses that are exempt from tax, as stipulated in Clause 25, Article 5 of this Law, will take effect from January 1, 2026.
During the working day, the National Assembly discussed in the plenary session the reports on the work of the Chief Justice of the Supreme People's Court and the Prosecutor General of the Supreme People's Procuracy; the work of crime prevention and control and law enforcement; the work of judgment enforcement; the work of anti-corruption in 2024; the results of monitoring the resolution of voter petitions submitted to the 7th Session of the 15th National Assembly; and the results of receiving citizens, handling petitions and resolving complaints and denunciations from citizens in 2024.
