Several new laws will come into effect starting July 1st.
In addition, several documents and tax policies also came into effect on July 1, 2012.
Here are some key points to note:
1. According to the Whistleblower Law, whistleblowers have the right to maintain confidentiality regarding their personal information.
The Whistleblower Law grants whistleblowers many additional rights, such as the right to confidentiality of their name, address, signature, and other personal information, and state agencies are responsible for implementing measures to ensure this right of whistleblowers.
Accordingly, the new national identity card template, in addition to the information as before, will include other names, gender, father's full name, and mother's full name.
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Additionally, from July 1st, several tax policies will come into effect, including:
- Implement a pilot program for refunding value-added tax (VAT) to foreigners when they depart through Noi Bai and Tan Son Nhat international airports. The pilot program will run until the end of 2012.
- Officially exempt from personal income tax at tax bracket 1.
Starting July 1st, individuals whose taxable income from salaries, wages, and business activities falls within the first tax bracket will be exempt from personal income tax for the last six months of the year. Accordingly, individuals whose remaining income, after all deductions, is 5 million VND or less will be exempt from personal income tax.
Also from July 1st, taxpayers must include their tax identification number on transaction documents such as invoices, purchase and sale receipts for goods and services, accounting books, economic contracts, and other documents related to determining tax obligations. Taxpayers must also use their tax identification number when opening deposit accounts at banks or other credit institutions.
According to VTV-M
