30% increase in basic salary, 15% increase in pension.
In Resolution No. 7 of the 15th National Assembly , passed on the morning of June 29th, the National Assembly unanimously agreed to implement salary reform; adjust pensions, social insurance benefits, preferential allowances for meritorious individuals, and social allowances from July 1st.
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%).
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| Basic salary and pensions will increase from July 1st. Photo: Provided. |
The National Assembly also agreed to increase current pensions and social insurance benefits by 15%. Those receiving pensions before 1995 whose benefits are less than 3.2 million VND per month after adjustment will have their benefits increased by 300,000 VND per month; those with benefits between 3.2 million and less than 3.5 million VND per month will have their benefits adjusted to 3.5 million VND per month.
In addition, the preferential allowance for meritorious individuals, based on the standard rate, also increased by 35.7%, from 2.055 million VND to 2.789 million VND per month. This level maintains the current correlation between the preferential allowance for meritorious individuals and the standard allowance. The social assistance standard increased by 38.9%, from 360,000 VND to 500,000 VND per month; the regional minimum wage increased by an average of 6%, effective from July 1st.
Reduce the value-added tax to 8%.
On June 30th, the Government issued Decree No. 72/2024/ND-CP, stipulating the policy on reducing value-added tax in accordance with Resolution No. 142/2024/QH15 dated June 29th, 2024 of the National Assembly.
According to the Decree, businesses that calculate value-added tax using the deduction method are subject to a value-added tax rate of 8% for goods and services eligible for value-added tax reduction.
Businesses (including household businesses and individual businesses) that calculate value-added tax (VAT) using the percentage-based method on revenue are entitled to a 20% reduction in the percentage rate used to calculate VAT when issuing invoices for goods and services eligible for VAT reduction.
Decree 72/2024/ND-CP is effective from July 1, 2024 to December 31, 2024.
Previously, in a resolution passed on June 29, the National Assembly agreed to reduce the VAT rate by 2% (from 10% to 8%) for certain groups of goods.
Cases of payment account freezing
The government issued Decree No. 52/2024/ND-CP dated May 15, 2024, regulating non-cash payments; which stipulates the opening and use of payment accounts and clarifies the cases in which payment accounts may be frozen.
According to Decree No. 52/2024/ND-CP, payment accounts may be partially or completely frozen in the following cases:
1. As per 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 written decision or request from a competent authority in accordance with the law;
3. When a payment service provider discovers an error or mistake in crediting a customer's payment account, or when processing a refund request from a money transfer service provider due to an error or mistake compared to the transferor's payment order after crediting the customer's payment account, the amount frozen in the payment account shall not exceed the amount of the error or mistake.
4. When a freeze is requested by one of the joint payment account holders, unless 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 1st.
Protecting consumer rights in commercial transactions.
The Government issued Decree No. 55/2024/ND-CP dated May 16, 2024, detailing some provisions of the Law on Consumer Rights Protection; in which Chapter III specifically regulates the protection of consumer rights in transactions with individuals engaged in independent, regular commercial activities that are not required to register their businesses.
This Decree takes effect from July 1, 2024.
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| Illustrative image. Source: TL |
Procedures for accessing information in the National Population Database
The Government issued Decree No. 70/2024/ND-CP dated June 25, 2024, detailing some provisions and measures for the implementation of the Law on Identity Cards. The Decree clearly stipulates the exploitation of citizens' information in the National Population Database.
According to regulations, the identity management agency of the Ministry of Public Security grants accounts to agencies and organizations to access and utilize information in the National Population Database.
Organizations and agencies that are granted accounts by the identity 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 for granting access to the created accounts to individuals under their management according to their assigned functions and duties.
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
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