Policies effective from January 01, 2014

Commerce

Regulations on each type of products such as medicines, cosmetics, foods, additives, chemicals, etc. are introduced in Decree 181/2013/NĐ-CP detailing the Law on Advertising.

The advertisements for such products may only be published after their contents are certified by competent authorities within 10 days from the day on which the valid application for certification of advertisements contents is received.

Decree 177/2013/NĐ-CP detailing the Law on Pricing also takes effect this time, which specify the processes of stabilizing, fixing, stating, and posting prices by state agencies as well as businesses.

The Ministers are responsible for deciding the prices of aviation services such as landing and take-off services etc., cigarettes, brackets of prices of electricity, medical services, medicines, etc.

Besides, foreign digital signature certification authorities must meet the Vietnam’s and international standards, which are adopted by Vietnam, of certification of digital signatures and digital certificates according to Decree 170/2013/NĐ-CP.

Foreign digital certificates may be used in Vietnam if their use is licensed by the Ministry of Information and Communications, and will expire after five years. This regulation is applicable to wholly foreign-owned companies, foreign organizations, and representative offices of foreign agencies in Vietnam.

Taxation, fees and charges

According to Decree 209/2013/NĐ-CP providing guidance on the Law on Value-added tax, there will be two more cases in which VAT is exempt:

- Projects for manufacture or provision of goods/services subject to VAT are transferred to other companies of cooperatives.
- Agriculture products, breeding products, and fishery products that have not been processed into other products or have undergone only raw treatment are sold to other companies or cooperatives (whether or not such products are bought externally).

Accounting and audit

In 2014, 37 new audit standards will come into force according to Circular 214/2012/TT-BTC on the system of Vietnam’s Audit Standard promulgated by the Ministry of Finance.

Some notable standards: Standard 210: Audit contract, Standard 230: Audit documents; Standards 300: Planning financial audit; Standard 500: audit evidence, etc.

Personnel and wages

From the beginning of 2014, members of trade unions in organizations and associations must pay a fee specified in Dispatch 1803/HD-TLĐ on payment of trade union fees.

According to this Dispatch, trade union members in state agencies and public service agencies that are paid by the State, socio-political organizations, foreign organizations, etc. must pay 1% of their wage, which is stated in their labor contracts, their responsibility allowances, etc.

Trade union members in non-public agencies, economic organizations, cooperatives, and foreign organizations must pay 1% of the wages they receive.

New levels of minimum wages in various regions applicable to cooperatives and employers are introduced in 2013/213690/tieng-anhaspx" target="_blank">Decree 182/2013/NĐ-CP, which also takes effect on January 01, 2014:

- Region I: 2,700,000 VND/month
- Region II: 2,400,000 VND/month
- Region III: 2,100,000 VND/month
- Region IV: 1,900,000 VND/month

Business and investment

According to Circular 07/2013/TT-BCT, the use of hazardous chemicals, which must be registered, means the process of using hazardous chemicals for industrial manufacture of certain goods.

The organizations and individuals that use hazardous chemicals must submit a written application for registration to the local Service of Industry and Trade at least 15 working days before the use of such chemicals is commenced. The change of the location or replacement of the owner must also be registered.

Also at this time, a proposal for developed urban areas must be made within 12 months from the day on which it is requested, according to Circular 20/2013/TTLT-BXD-BNV providing guidance on Decree 11/2013/NĐ-CP on management of investments in urban development.

The proposal for developed urban areas must be examined within 30 working days from the day on which the valid proposal is received, according to Article 12 of Decree 11/2013/NĐ-CP.

Miscellaneous

Many changes to technical requirements of electric bicycles are also made from 2014. For instance the maximum speed of electric bicycles are reduced to 25 km/h according to 39/2013/TT-BGTVT on the issuance of National Technical Regulation on electric bicycles.

Besides, a bicycle must not exceed 40 kg in weight and have 02 braking systems with independent transmission and control mechanism. The braking length must not exceed 04 m and the bike must be able to travel a distance of 07 km within 30 minutes.