The National Assembly agreed to reduce VAT by 2% until mid-2024
The National Assembly agreed to extend the 2% VAT reduction period until mid-2024. This tax reduction does not apply to securities, banking, insurance, real estate, chemicals and goods sectors and services. subject to special consumption tax.
This reduced tax rate does not apply to a number of goods and services, as stipulated in Resolution No. 43, including: telecommunications, information technology, financial activities, banking, securities, insurance, trading in real estate, metals, fabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products, goods and services subject to special consumption tax. (See more)
Real estate project investors are only allowed to collect a deposit of no more than 5% of the selling price
On the morning of November 28, the National Assembly passed the revised Law on Real Estate Business. Before the National Assembly voted to pass it, the draft law had new regulations on deposits and payments for future housing purchases (on paper).
Specifically, real estate project investors are only allowed to collect a deposit of no more than 5% of the selling price, lease-purchase price of houses, construction works, and construction floor area in construction works from customers when Housing and construction projects have met all conditions for being put into business according to the provisions of this law. (See more)
Owning apartments indefinitely, mini apartments are issued with pink books
On November 27, the National Assembly passed the revised Housing Law. Regarding the development of multi-storey housing with many apartments for individuals to sell, lease-purchase, or lease (mini-apartments), Article 11 of the Housing Law (amended) stipulates that individuals who want to build mini-apartments ( Houses with 57 floors or more, each floor has apartments, or from 2 floors and 2 apartments or more) for sale or rent will have to meet the conditions to be an investor in a housing construction project. .
Mini-apartments being considered for certification (pink book) according to land law, sold and rented is one of the notable new points in the Housing Law (amended) just passed by the National Assembly today. now, effective from January 1, 1. (See more)
Vietnam officially applies the global minimum tax from January 1, 1
Vietnam will impose global minimum tax from January 1, 1. The applicable tax rate is 2024% for multinational enterprises with total consolidated revenue of 15 million Euro (about 750 million USD) or more in 800 years of the 2 most consecutive years. Taxable investors will be forced to pay the global minimum tax in Vietnam.
This tax does not apply to: Government organizations; International organizations; non-profit organization; retirement; The investment fund is the ultimate parent company; The real estate investment organization is the ultimate parent company. Organizations with at least 85% of the asset value owned directly or indirectly through the above organizations are not subject to the 15% tax rate. (See here)
The State Bank adjusts credit growth targets among banks
On November 29, the State Bank (SBV) sent a document to credit institutions announcing increased growth for credit institutions.
Accordingly, credit institutions whose credit balance has so far reached 80% of the announced credit target will be proactively added to the increased limit based on the 2022 ranking, while giving additional priority to Credit institutions focused credit on the Government's priority areas and lowered lending interest rates to low levels recently. (See more)
Inspection and management of credit growth of the State Bank
To promptly strengthen state management and improve credit growth management efficiency, Deputy Prime Minister Le Minh Khai requested the Government Inspectorate to conduct inspections on the implementation of assigned functions and tasks. assigned by the State Bank in managing credit growth; Build, assign, and adjust credit growth targets and limits in 2022 and 2023; Inspect management and supervision of credit growth implementation.
The Deputy Prime Minister requested the Government Inspectorate to report to the Prime Minister on the implementation immediately in December 12 and the inspection results in January 2023 (See here).
Commercial banks are authorized to act as distribution agents for Government bonds
This is a new regulation in Decree No. 83/2023/ND-CP amending and supplementing a number of articles of Decree No. 95/2018/ND-CP on issuance, registration, depository, listing and trading. Government debt instruments on the stock market, effective from January 15, 1.
Banks that want to become agents selling Government bonds must meet network, distribution and payment conditions.
In December, electronic invoices must be completed for each gasoline sale
On December 1, the Prime Minister signed a digital telegram on strengthening the management and use of electronic invoices for petroleum business and retail activities.
The Prime Minister requested the Ministry of Finance and relevant agencies, departments and branches to immediately implement synchronous, effective and drastic solutions requiring petroleum business units to issue electronic invoices for each sale. at gasoline retail stores and connect data with tax authorities according to regulations; Completed in December 12. (See more)
The Deputy Prime Minister proposed that banks inject capital into the economy
Speaking at the credit growth management meeting, Deputy Prime Minister Le Minh Khai stated that up to now, credit growth has reached 8,4%, lower than the plan to strive for growth. The average credit of the entire system this year is about 14%.
The Deputy Prime Minister requested the State Bank and banks to be more proactive and more ready to disburse capital promptly when businesses and people have needs and ensure conditions.
November's consumer price index increased due to rice prices, tuition fees and medical service prices
According to the General Statistics Office, some localities increased the price of medical services according to Circular No. 22, increased tuition fees according to Decree No. 81 and domestic rice prices continued to increase according to export rice prices. mainly causes CPI in November 11 to increase by 2023% compared to the previous month.
Compared to the same period last year, CPI in November 11 increased by 2023%. Among the 3,45 main consumer goods groups, 11 groups increased prices, only postal and telecommunications groups decreased prices. (See more)
