On January 10, 2023, the Minister of Finance issued Circular 03/2023/TT-BTC stipulating the estimate preparation, use management and expenditure finalization of State budget funds for science and technology tasks (Circular 03). Accordingly, Circular 03 has abolished a number of relevant provisions in Joint Circular 55/2015/TTLT-BTC-BHKCN and Joint Circular 27/2015/TTLT-BHKCN-BTC. Although the scope of governance of Circular 03 focuses on the estimate preparation, use management and expenditure finalization of State budget funds for science and technology tasks, the Ministry of Finance encourages organizations to use funds other than the State budget for science and technology tasks as prescribed in this Circular.
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Some outstanding points on one-way money transfer abroad from Viet Nam by residents being organizations
On December 30, 2022, the State Bank of Vietnam issued Circular 20/2022/TT-NHNN guiding one-way money transfer abroad from Viet Nam and payments, remittances for other current transactions of residents being organizations and individuals. This Circular takes effect from February 15, 2023.
Read moreNew points on tax administration
On October 30, 2022, the Government issued Decree 91/2022/ND-CP amending Decree 126/2020/ND-CP guiding the Law on Tax Administration. Decree 91 takes effect from the time of promulgation.
Read moreUpdates on foreign exchange administration in respect of enterprises’ foreign loan borrowing and repayment
On September 30, 2022, the State Bank of Vietnam promulgated Circular 12/2022/TT-NHNN on guidelines for foreign exchange administration in respect of enterprises’ foreign borrowing and repayment, replacing Circular 03/2016/TT-NHNN and its amendments and supplements (Circular 05/2016/TT-NHNN, Circular 05/2017/TT-NHNN). This Circular 12 took effect from November 15, 2022.
Read moreSome new points on tax obligations when setting up and using enterprises’ Science and Technology Development Fund
On November 7, 2022, the Ministry of Finance issued Circular 67/2022/TT-BTC providing guidelines for tax obligations when enterprises set up and use their Science and Technology Development Funds. Circular 67 amends, supplements, and annuls a number of provisions in Joint Circular 12/2016/TTLT-BKHCN-BTC providing guidelines for the allocation and management of the science and technology development fund in enterprises. Circular 67 shall take effect from December 23, 2022.
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