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LEGAL UPDATE�06/2024

Created by Vietvalue Law Firm

VIETVALUE LAW FIRM

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Updated Documents

Science - Technology

Circular No. 02/2024/TT-BKHCN of the Minister of Science and Technology stipulating the management of traceability of products and goods

Circular No. 07/2024/TT-BCT of the Minister of Industry and Trade stipulating methods for determining electricity generation prices and power purchase contracts

Import - Export

Circular No. 08/2024/TT-BCT of the Minister of Industry and Trade amending and supplementing some circulars of the Minister of Industry and Trade in the field of import and export

Tax

Circular No. 25/2024/TT-BTC of the Minister of Finance repealing Circular No. 83/2014/TT-BTC dated June 26th, 2014 of the Minister of Finance guiding the implementation of value-added tax according to the List of imported goods of Vietnam

Business

The Government's Decree No. 45/2024/ND-CP amending Decree No. 39/2019/ND-CP on the organization and operation of the Small and Medium Enterprises Development Fund

Electricity

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The traceability system of products and goods ensures 4 principles:

    • The principle of "One step before - one step after"
    • The principle of “availability of the main data element”
    • The principle of "Transparency"
    • The principle of "Full Participation of Traceability Parties"

Traceability data of each product and goods in the product and goods traceability system includes at least the following information:

    • Name, image of product, goods
    • Name and address of the production and business unit;
    • Production and business time;
    • Trademarks, symbols, serial numbers, shelf life of products, goods (if any).

Circular No. 02/2024/TT-BKHCN

The issued date: March 28th, 2024

The effective date: June 1st, 2024

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The power generation price of the power plant is built on the basis of:

  • Reasonable and valid expenses of the Investor in the entire economic life of the project;
  • The Internal rate of return does not exceed 12%.

Principles for determining the annual fixed price of a power purchase contract:

The Seller and the Buyer shall agree on the average fixed price into a fixed price each year provided that the average fixed price does not change from the agreed price and complies with the following principles:

  • The financial discount rate when calculating the fixed price each year is equal to the Internal rate of return (IRR) of the power plant;
  • Projects developers shall return loans for investment and construction of power plants according to deadline for repaying loan capital.

The issued date: April 12th, 2024

The effective date: June 1st, 2024

Circular No. 07/2024/TT-BCT

Electricity generation prices do not include value-added tax, taxes, fees and other monetary revenues as prescribed by competent state management agencies.

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Circular No. 08/2024/TT-BCT

Circular No. 10/2009/TT-BCT

Circular No. �15/2010/TT-BCT

Circular No. 04/2010/TT-BCT

Circular No. �28/2012/TT-BCT

Replace the phrase "Import and Export Department" with the phrase “Agency of Foreign Trade" in the following documents:

The issued date: April 22nd, 2024

The effective date: June 7th, 2024

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Circular No. 25/2024/TT-BTC

Repeal all Circular No. 83/2014/TT-BTC guiding value-added tax on the List of imported goods from June 8th, 2024.

Regulations on value-added tax for imported goods continue to be applied and implemented in accordance with the Law on Value-Added Tax; Decree No. 209/2013/ND-CP; Circular No. 219/2013/TT-BTC and Circulars amending and supplementing Circular No. 219/2013/TT-BTC

The issued date: April 23rd, 2024

The effective date: June 8th, 2024

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    • Small and medium enterprises that have got loans from the Fund but fully paid off principal and interest amounts on the agreed schedule (except force majeure events) may be eligible to get new loans from the Fund.

Additional principles of direct lending:

    • Meet the criteria for innovative start-up small and medium enterprises as prescribed in the Law on Support for Small and Medium Enterprises and implementation guiding documents;
    • Having feasible and guaranteed projects and production and business plans in accordance with the criteria for identifying innovative small and medium enterprises.

To amend the following regulations on loan eligibility of innovative start-up small and medium enterprises:

The issued date: April 26th, 2024

The effective date: June 10th, 2024

Decree No. 45/2024/ND-CP

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