People can open bank cards via internet

Circular 17/2021/TT-NHNN on bank card operations says that card organizations can issue debit cards, credit cards and identified pre-paid cards to individual card holders by electronic means. The circular took effect on January 1, 2022.

As such, from 2022, people can open bank cards online while there is no need to go to banks.

New regulation on petroleum trading

The Ministry of Industry and Trade (MOIT) has released Circular 17/2021/TT-BCT supplementing some articles in Circular 38/2014/TT-BCT that guides the implementation of Decree 83/2014 on petroleum trade.

The new circular sets some new regulations, including ones on petroleum price management, small-scale petroleum selling equipment and registration of the annual limit of minimum total petroleum products.

The circular took effect on January 2, 2022.

Changes in tax calculation method for lessors

Taking effect on January 2022, the Ministry of Finance’s (MOF) Circular 100 sets new regulations on the way of calculating tax applied to real estate lessors. Those who only lease houses won’t have to pay VAT and CIT if the leasing time is not for a whole year and the revenue is lower than VND100 million a year.

The legal document also stipulates that marketplaces such as Shopee, Lazada and Tiki don’t have to pay tax for sellers unless there are contracts between the two sides about tax payment authorization.

Vehicles without dashboard cams will be fined

Under Government Resolution66, from January 1, automobiles that provide transportation services, including taxis and buses, have have with dashboard cams, or the vehicle owners will be subject to the fines of VND1-2 million.

Regulation on toll collection changed

The Ministry of Transport’s (MOT) Circular 28/2021/TT-BGTVT, taking effect on January 15, 2022, stipulates that tickets for using roads, applied to vehicles going through stations, include tickets issued each time, and monthly and quarterly. As for non-stop electronic collection, the tickets are issued under the form of electronic vouchers.

Nationwide toll tickets are applied specifically to vehicles of national defence and public security forces in accordance with regulations set by MOF.

Regulations on money transport, delivery, preservation change

The State Bank of Vietnam (SBV) issued Circular 19/2021/TT-NHNN dated November 24, 2021 amending and supplementing a number of articles of Circular 01/2014/TT-NHNN of the SBV Governor on the regulations on delivery, preservation and transportation of cash, precious assets and valuable papers.

The circular takes effect on January 8, 2022.

Regulation on providing loans to fund social housing projects amended

Circular 20/2021/TT-NHNN, taking effect on January 20, 2022, stipulates that customers taking preferential loans to build improve their houses can borrow no more than 70 percent of the estimate, no more than VND500 million, and no more than the value of assets mortgaged for loans.

Fines on violations related to invoices adjusted

Government’s Decree 102, taking effect on Jan 1, 2022, stipulates a fine of VND4-8 million in the cases in which all the columns in the invoices are not filled out.

For acts of losing, burning, or damaging invoices that have been made but have not yet declared tax, the decree stipulates a fine of VND4-8 million.

The decree also stipulates increases in the statute of limitations for handling administrative violations to 2 years, instead of 1 year as before.

Pensions, social insurance allowance raised

The 7.4 percent increase in pension, social insurance allowance and monthly allowance compared with the pension in December 2021 has been applied since January 1, 2022, applied to the subjects in Clause 1, Article 1 of Decree 108/2021.

Those who receive pensions, social insurance allowance and monthly allowance prior to Jan 1, 2022 will enjoy the 7.4 percent increase allowance compared with December 2021.

More border gates allow under-16-seat car imports

Circular 21, taking effect on January 24, 2022, stipulates that under-16-seat car imports can go through sea border gates of Quang Ninh (Cai Lan), Hai Phong, Thanh Hoa (Nghi Son), Da Nang, HCM City, Ba Ria – Vung Tau.

This means that one more seaport, Thanh Hoa (Nghi Son), has been added to the list of border gates for car imports to go through. 

Bao Anh

Economic recovery: businesses can find their own way with new policies

Economic expert Pham Chi Lan said that financial solutions to support pandemic-affected businesses this year have not yet learned from the irrationalities of 2020. 

Key policies take effect from October 2021

A string of fresh policies on subsidies for employees and employers affected by COVID-19, assistance for SMEs, tuition fee cuts for students shall come into effect from October 2021.