[Legal Updates] Monthly Legal Update 20191009

LEGAL UPDATES

[Legal Updates] Monthly Legal Update 20191009

I. REMARKABLE LEGISLATIONS WHICH HAS EFFECTIVE DATE IN OCTOBER 2019

1| The minimum requirements to be applied the special preferential tax rates within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

On 05th September 2019, the Ministry of Finance issued the Circular No. 62/2019/TT-BTC on amending and supplementing the Articles of Circular No.38/2018/ TT-BTC dated on 20th April 2018 issued by the Ministry of Finance on regulations on identification of origin of imported and exported goods.

According to this Circular, in order to be applied the special preferential tax rates within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the documents which certifying the origin of goods must meet the following minimum requirements.

  • The documents certifying the origin of goods must contain the sufficient information as prescribed;
  • The documents certifying the origin of goods must be issued in paper or electronic form;
  • Unless the documents certifying the origin of goods to be in English, the customs declarant must translate them into Vietnamese or English and take responsibility for the contents of the translation.

Circular No. 62/2019/TT-BTC comes into effect on 21st October 2019. 


2| The principles when using public property to pay for the BT projects

Decree No. 69/2019/NĐ-CP issued on August 15th, 2019 by Government stipulates the use of public property to pay the investors when implementing construction investment projects in the form of builds – transfer contracts

This Decree shall be applied with State agencies which has the power to sign Builds – Transfer Contracts (hereinafter BT contracts), agencies, organizations and units which are authorized by competent State agencies to sign BT contract or assigned the duty in preparing investment, negotiating, executing BT contract and implementing the BT contract (hereinafter referred to as authorized Agency), investor implementing BT contract (hereinafter referred to as Investors), other agencies, organizations and individuals related to the implementation of BT Project.
Accordingly, the use of public property to pay the Investors in order to implement BT projects must comply with the following principles:

  • Ensuring compliance with the law on management and use of public property; in the form of open bidding; can only be done when the competent authorities allow;
  • Paying according to the principle of equal value, the value of the BT Project is equal to the value of public property;
  • Payment must be aggregated into the State budget;
  • The payment date in case of using vacant land as payment is the date when the decision on land allocation or land lease is made;
  • The loan interest in the financial plan of the BT Contract for the value of the construction completed according to the schedule is terminated from the date of issuance of land allocation, land lease, and property allocation decisions;
  • The transfer of public property for payment must be effectuated after the project is completed or corresponding to the completed volume.

Decree No. 69/2019/ND-CP comes into effect on October 1st, 2019.

II. THE EXECUTED LEGISLATIONS IN SEPTEMBER 2019

No. DOCUMENT TITLE EXECUTION DATE EFFECTIVE DATE
1 Decree 75/2019/ND-CP stipulates penalties for administrative violations in the field of competition 26/09/2019 01/12/2019
2 Decree 74/2019/ND-CP amends Decree No. 61/2015/ND-CP on job creation policies and National employment fund. 23/09/2019 08/11/2019
3 Decree 73/2019/ND-CP stipulating the management of investment in information technology application using state budget capital 05/09/2019 01/01/2020
4 Circular No.16/2019/TT-BCT on guiding the pilot auction of tariff-rate quota for sugar in 2019 19/09/2019 01/12/2019

 

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