New policy takes effect from July

Increase 30% base salary, 15% pension

In the Resolution of the 7th Session, the 15th National Assembly passed on the morning of June 29, the National Assembly agreed to implement the contents of salary reform; adjust pensions, social insurance benefits, preferential benefits for people with meritorious services and social benefits from July 1.

Accordingly, the National Assembly agreed to adjust the basic salary from 1.8 million VND/month to 2.34 million VND/month (an increase of 30%).

Basic salary and pension increase from July 1. Photo: TL

The National Assembly also agreed to increase the current pension and social insurance benefits by 15%. Those who were receiving pensions before 1995, if after adjustment their monthly benefit is less than 3.2 million VND, will have their monthly benefit adjusted to increase by 300,000 VND; those who received from 3.2 to less than 3.5 million VND per month will have their monthly benefit adjusted to 3.5 million VND.

In addition, the preferential allowance for meritorious people at the standard level also increased by 35.7%, from 2.055 million VND to 2.789 million VND/month. This level maintains the current correlation between the preferential allowance levels for meritorious people compared to the standard allowance level. The social assistance standard increased by 38.9%, from 360 thousand to 500 thousand VND/month; the regional minimum wage increased by an average of 6%, effective from July 1.

Reduce VAT to 8%

On June 30, the Government issued Decree No. 72/2024/ND-CP dated June 30, 2024, stipulating the policy of reducing value added tax according to Resolution No. 142/2024/QH15 dated June 29, 2024 of the National Assembly.

According to the Decree, business establishments calculating value added tax by the deduction method are entitled to apply a value added tax rate of 8% to goods and services that are subject to reduced value added tax.

Business establishments (including business households and individual businesses) calculating value added tax according to the percentage method on revenue are entitled to a 20% reduction in the percentage rate for calculating value added tax when issuing invoices for goods and services eligible for reduced value added tax.

Decree 72/2024/ND-CP takes effect from July 1, 2024 to December 31, 2024.

Previously, in the Resolution passed on June 29, the National Assembly agreed to reduce VAT by 2% (from 10% to 8%) on some groups of goods.

Cases of blocking payment accounts

The Government issued Decree No. 52/2024/ND-CP dated May 15, 2024 regulating non-cash payments; which regulates the opening and use of payment accounts as well as clearly states cases of payment account blockade.

According to Decree No. 52/2024/ND-CP, a payment account is partially or fully frozen in the following cases:

1- According to prior agreement between the payment account holder and the payment service provider or at the request of the account holder;

2- When there is a decision or written request from a competent authority as prescribed by law;

3- When the payment service provider discovers a mistake or error when mistakenly crediting the customer's payment account or performs a request for refund from the money transfer service provider due to a mistake or error compared to the payment order of the remitter after crediting the customer's payment account. The amount blocked in the payment account must not exceed the amount of the mistake or error;

4- When there is a request for blocking by one of the joint payment account holders, except in cases where there is a prior written agreement between the payment service provider and the joint payment account holders.

Decree No. 52/2024/ND-CP takes effect from July 1.

Protecting consumer rights in commercial transactions

The Government issued Decree No. 55/2024/ND-CP dated May 16, 2024 detailing a number of articles of the Law on Consumer Protection; in which Chapter III is dedicated to regulating the protection of consumer rights in transactions with individuals conducting independent and regular commercial activities without having to register for business.

This Decree takes effect from July 1, 2024.

Illustration photo. Source: TL

Procedures for exploiting information in the National Population Database

The Government issued Decree No. 70/2024/ND-CP dated June 25, 2024 detailing a number of articles and measures to implement the Law on Identification. The Decree clearly stipulates the exploitation of citizens' information in the National Population Database.

According to regulations, the identification management agency of the Ministry of Public Security grants accounts to agencies and organizations to access and exploit information in the National Population Database.

Agencies and organizations that are granted accounts by the identification management agency of the Ministry of Public Security are responsible for creating and managing their own accounts on their information systems connected to the National Population Database and delegating the right to use the created accounts to individuals under their management according to assigned functions and tasks.

This Decree takes effect from July 1, 2024./.

Source: https://dangcongsan.vn/thoi-su/chinh-sach-moi-co-hieu-luc-tu-thang-7-671372.html