Low income earners to benefit from new laws

VietNamNet Bridge – Nine laws will come into force on July 1 after being passed by the National Assembly, aiming to streamline Vietnam's policies and offer support to those who need it most in the wake of ongoing economic difficulties.


NA, new laws, income tax, Law on Energy

Under new tax breaks, pensioners and social welfare beneficiaries are exempt from paying income tax (PIT).

There is also relief for low-income earners, with the threshold for paying income tax rising to 9 million VND (428.5 USD) from the previous 4 million VND (190 USD), while the limit for their dependent jumps to 3.6 million VND (171 USD) from 1.6 million VND (76 USD).

The amendment of the law is also a response to the nation's programme of administrative reforms to enable taxpayers to exercise their duty.

In the event that the consumer price index (CPI) exceeds 20 percent, the government will ask the National Assembly Standing Committee to adjust the sum given to the dependent to make it relevant to the economic situation.

The other laws include:

- Capital Law

Under the law, which has 4 Chapters and 27 Articles, the Prime Minister is given authority to ratify the city's construction planning and the spatial planning. The approved spatial planning will then serve as the core for construction, development and management of the City.

In addition, the law also regulates a number of measures to reduce inner-city population density in a bid to create a new image for Vietnam's capital.

Technical infrastructure development is one of the top priorities for the city. As a result, Hanoi will enjoy special treatment in terms of budget and other resources.

Khue Van Cac (the Pavilion of the Constellation of Literature) - the ancient gate at the Temperature of Literature is chosen as the city's official symbol.

The National Assembly will directly oversee implementation of the Capital Law.

- Admin punishment

With 12 Chapters and 142 Articles, the law's main objective is to ensure fairness, objectivity, transparency and accountability for any individual or organisation.

Under the law, for violations committed by an organisation and an individual, the former will have to pay double the fine of the latter.

For a minor (aged under 14 years old) who violates the law, they will receive a reprimand instead of punishment.

However, for minors aged 14 to under 16, if they commit an administrative violation intentionally, they will be treated as an adult.

- Law on Energy

One of the amendments to the law this time is the special treatment given to the development of rural energy in relation to development levels of the energy market.

The government will subsidise domestic electricity tariffs for people living in rural areas, mountainous regions, border areas and islands as well as social beneficiaries' households.

The Prime Minister will be tasked with deciding the retail electricity tariff based on the market price proposed by EVN.

- Tax management law

The law has 120 Articles, aiming to address two key objectives of overcoming bottlenecks in the previous law during implementation and simplifying administrative procedures to make life easier for taxpayers.

Compared with the previous law, the new law contains provisions to improve the efficiency and effectiveness of tax management.

Changes to the law focus on three main areas: reform of administrative procedures; modernisation of the sector and improvement of work efficiency to avoid losses on budget collection and reduce tax debts.

- National reserves law

All changes in the new law aim to make it relevant to the country's current condition and meet the set objectives so the state can proactively respond to emergency cases as they arise, including natural disasters, national defence and security.

The law also specifies clearly what goods or items must be reserved and in what quantity.

- Law on lawyers

A highlight in the revised law aims to assist lawyers' in the context of ongoing administrative reforms, as well as judiciary reform and international integration.

As from now, the training course required to become a lawyer will extend to 12 months from the previous six months. However, lawyers' probation period will be reduced to 12 months from 18 months.

While practicing professionally, lawyers will have to attend regularly refresher courses to improve their knowledge and uphold ethics.

- Law on co-operatives

The law has nine Chapters and 64 Articles, which all emphasise that co-operatives are economic collective entities. They are jointly owned by all members. A co-operative must have at least seven members and they all have equal rights.

The law stipulates that the co-operative's assets which derive from government support, presents/gifts or accumulation during the co-operative operation will be the common assets of all members.

- Law on publishing

The law has six Chapters and 54 Articles, reflecting the government's financial support in capital construction and the application of technology in publishing activities, particularly for electronic publications.

Construction of the electronic database is to facilitate the ability to search, retrieve, manage and store electronic publications.

Source: Vietnam Plus

NA, new laws, income tax, Law on Energy
 
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