Many cases are not eligible for bank loans from September 1st
The State Bank has just issued Circular 06/2023 amending and supplementing a number of articles of Circular 39/2016 on lending activities of credit institutions and foreign bank branches to customers. Circular 06/2023 takes effect from September 1.
Accordingly, banks are not allowed to lend capital to customers to pay for purchases, contribute capital to unlisted companies, buy gold bars, make savings deposits...
Major banks suddenly charge fees, increase card service fees
From July 1, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) will apply a new card fee schedule. Accordingly, this bank will switch from free to charging personal card fees, some fees will double.
This is a rare service fee increase by Vietcombank in recent years. (See more)
To establish a non-bank credit institution, it is necessary to have minimum assets of 1,000 billion VND.
Circular 05/2023/TT-NHNN has just been issued by the State Bank of Vietnam, to amend and supplement a number of articles of Circular No. 30/2015/TT-NHNN dated December 25, 2015 regulating the granting of licenses, organization and operation of non-bank credit institutions.
Notably, Circular 05/2023/TT-NHNN stipulates: For founding shareholders of organizations that are Vietnamese enterprises (except Vietnamese commercial banks), the requirement is to have a minimum equity capital of VND 500 billion and total assets of at least VND 1,000 billion in the 3 consecutive fiscal years prior to the year of submitting the application for a license.
From July 1, vehicles passing through BOT stations will have VAT reduced
From July 1, Vietnam Expressway Corporation (VEC) has adjusted toll prices at toll stations for 4 expressways: Noi Bai - Lao Cai, Cau Gie - Ninh Binh, Da Nang - Quang Ngai, Ho Chi Minh City - Long Thanh - Dau Giay.
The fare will be reduced when applying the 8% value added tax (VAT) rate to the road service price at toll stations of VEC projects.
Pilot auction of car license plates
From July 1, Decree 39 of the Government detailing a number of articles of Resolution 73/2022 of the National Assembly on pilot auction of car license plates will take effect. Accordingly, people can compete and choose the license plate as desired.
Auction participants are Vietnamese organizations and individuals who are eligible to participate in the auction of automobile license plates according to the provisions of this Decree and other relevant legal provisions. (See more)
Reduce 36 fees and charges
Circular 44/2023/TT-BTC, effective from July 1 to the end of 2023, stipulates a reduction of 10-50% on 36 fees and charges to support people and businesses.
Notably, of the 36 reduced fees, 21 fees are reduced by up to 50%. (See more)
50% reduction in registration fees for domestically produced cars
The Government has just issued a Decree regulating the registration fee (LPTB) for automobiles, trailers or semi-trailers pulled by automobiles and vehicles similar to automobiles manufactured and assembled domestically.
This Decree takes effect from July 1 to December 31, 2023. During this period, the LPTB collection rate is equal to 50% of the collection rate prescribed in Decree No. 10/2022/ND-CP dated January 15, 2022 of the Government. From January 1, 2024, the LPTB collection rate continues to be implemented according to the provisions of Decree No. 10/2022/ND-CP. (See more)
2% VAT reduction
On June 24, the National Assembly passed a joint resolution of the 5th session of the 15th National Assembly, which resolved to continue reducing value-added tax (VAT) by 2% according to Resolution 43 of 2022. The tax reduction will be implemented from July 1 to the end of 2023.
Thus, VAT will be reduced from 10% to 8%. However, according to Resolution 43, the tax reduction will not apply to groups of goods such as telecommunications, information technology, finance, banking, securities, insurance, real estate business, metals, prefabricated metal products, mining products, refined petroleum, chemical products and items subject to special consumption tax.
Increase basic salary for 9 groups of subjects
According to Decree 24/2023/ND-CP, the basic salary will officially increase to 1.8 million VND/month from July 1.
According to the decree, there are 9 groups of subjects whose basic salary will increase from July 1. The basic salary is used as the basis for calculating many regimes.
Selling insurance through banks still has many violations
On the afternoon of June 30, the Ministry of Finance informed about the results of the inspection of insurance sales through banks for 4 insurance companies.
The inspection results show that there are many violations in selling insurance through banks as agents, especially in the consulting stage of bank staff and brokers.
More than 13.4 billion USD of FDI capital 'poured' into Vietnam in the first half of 2023
According to the Foreign Investment Agency (Ministry of Planning and Investment), from the beginning of the year to June 20, the total registered foreign investment capital in Vietnam reached more than 13.43 billion USD, equal to 95.7% compared to the same period.
Of which, newly registered capital reached over 6.49 billion USD, up 31.3% over the same period; adjusted capital reached 2.93 billion USD, down 57.1% over the same period. Investment capital through capital contribution and share purchase reached over 4.01 billion USD, up 76.8% over the same period.
Hanoi plans to increase clean water prices from July 1
The Hanoi Department of Finance has just announced a plan to increase domestic water prices in two phases. Accordingly, the first phase of water price increase will apply from July 1, 2023; the next phase will apply from January 1, 2024.
Specifically, from the beginning of July, the price of domestic water for the first 10m3 is 7,500 VND/m3 (currently 5,973 VND/m3); from 10-20m3 is calculated at 8,800 VND/m3; from 20-30m3 is 12,000 VND/m3; over 30m3 is 24,000 VND/m3. From January 1, 2024, the price of domestic water at the above levels will be: 8,500 VND - 9,900 VND - 16,000 VND and 27,000 VND/m3, respectively.
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