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Friday, May 18, 2012
Decision No. 857/QD has been enacted by the State Bank of Vietnam. According to this measure, credit institutions (including foreign bank branches) can now make loans in foreign currencies to customers residing in the country.
Vietnam’s government has made some important changes to the country’s tax regulations over the first four months of 2012, and has issued Circular 06, which took effect from March 1, providing a detailed guidance on some key changes to VAT rules.
According to the Circular, banks will not use cash as a method for disbursing loans from June 1, 2012.
Vietnam has officially increased its general minimum wage levels from VND830,000 per month to VND1.05 million per month effective from May 1, according to Decree No. 31/2012/ND-CP dated Apr 12, 2012.
Vietnam's Ministry of Finance issued Circular No.157/2011/TT-BTC on November 14, 2011, stipulating the tax rates of export and import tariff preferences under the list of taxable items. The Decree takes effect from January 1, 2012.
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