Laws passed

Fifteen laws passed by NA announced (12-07-2005) HA NOI — Fifteen new laws passed by the National Assembly last month have been announced by President Tran Duc Luong. Of these, the Civil Code and an accompanying resolution for its implementation, the Commercial Law, the Customs Law, the Import-Export Tax Law, the Tourism Law, the Railway Law, the Maritime Navigation Law, the International Treaties Law, the Defence Law, the Audit Law and the Education Law will become effective from the beginning of next year. The Minerals Law and the Medicine Law will become effective from October but no dates for implementation of the Military Duty Law and the Emulation and Awards Law have been set. All the new laws were approved by the National Assembly on June 14. The President’s Office says the Civil Code of seven sections, 26 chapters and 777 articles, will ensure civil relations - either between individuals or organisations - are based on equality, consent, mutual agreement and … [Read more...] about Fifteen laws passed by NA announced

Laws passed on thrift, waste, commercial paper (17-11-2005) HA NOI — The National Assembly gathered yesterday to ratify the Law on Practising Thrift and Combating Waste and the Law on Negotiable Instruments. Although there were still differing opinions, the NA approved both draft laws; the law on thrift and waste was passed with 71 per cent of votes, and the law on negotiable instruments passed with 70 per cent. According to the Director of the NA Committee for Economic and Budgetary Affairs, Nguyen Duc Kien, members voiced varying different opinions on 25 of the total 86 articles of the law on thrift and waste. Some asked for supplements to the articles on practising thrift and combating waste to avoid damage to offices, individuals and society, and asked that a number of organisations must have added responsibility to practice thrift and combat waste. Regarding the proposals, the NA Standing Committee concluded that, to limit overlapping of sectors, offices and organisations in … [Read more...] about Laws passed on thrift, waste, commercial paper

Laws passed on income tax, chemicals, judicial matters (21-11-2007) Ha Noi — The National Assembly passed laws yesterday on personal income tax, extradition and amnesty of criminals, and hazardous chemicals. With 79.11 per cent of deputies voting in favour, the National Assembly yesterday approved the Law on Personal Income Tax The law had engendered some vigorous debate among deputies regarding such contentious issues as threshold income levels subject to taxation and whether stock dividends and capital gains would be subject to the tax. In its final form, the law will subject to taxation personal income from wages and business profits in excess of VND4 million per month at rates from 5-35 per cent. Dividends and interest income will be subject to a 5-per-cent tax; lottery winnings, 10 per cent; royalties, 5 per cent; and inheritance and gifts, 10 per cent. Capital gains from stock investments, meanwhile, will be subject to a 20-per-cent levy, while real estate capital gains … [Read more...] about Laws passed on income tax, chemicals, judicial matters