New Ordinances Announced
State President's Office has announced three new ordinances, including
the Ordinance on Post and Telecommunications, the Ordinance on Most
Favored Nation and National Treatment in International Trade and the
Ordinance on Safeguards in Importing Goods into Vietnam.
Ordinance on most favored nation (MFN) status and national treatment
(NT) in international trade, effective from September 1, 2002, states
that partial or complete MFN and NT treatment will be applied to
specific cases stipulated by the Vietnamese laws, international
agreements which Vietnam has signed, and countries or territories that
have granted Vietnam the treatment, and other cases as decided by the
Ordinance on Safeguards in Importing Goods into Vietnam aims at
restricting the negative impact of excessive imports on domestic
production. Under the ordinance effective from September 1, 2002, the
Government can raise tariffs or impose import quotas where increased
imports cause losses for local businesses.
the measures will be valid for a maximum of four years, and the time can
be extended to six years at most.
the Ordinance on Post and Telecommunications, effective from October
1, 2002, monopoly will be abolished to boost the development and modernization
of the post and telecom sector and raise the efficiency of State
management. Businesses from all economic sectors can provide telecom
services and decide prices, except for welfare and State controlled
Registration Office Opens
The National Secured
Transactions Registration Office has opened this week and the Ministry
of Justice (MoJ) has now issued its second piece of legislation
concerning registration at the Registration Office.
Circular 04 deals with the
registration of, and provision of information about, the finance leasing
of assets; it contains 12 standard forms for use at the Registration
Office and five appendices with additional forms describing the parties
to a finance leasing transaction and certain types of assets.
Once the leasor and leasee
have entered into a finance leasing contract they must register it using
Form 01 at the Registration Office, for which a fee is payable. There is
also a procedure for registering amendments and extensions to existing
leases. If a finance-leasing firm has a large number of transactions to
register, it can apply to the Registration Office to become a frequent
customer, allowing it to lodge applications by fax and to pay
registration fees on a monthly basis.
The setting up of a
registration system is a very important step because, if it is used
properly, it gives lenders and finance leasing companies certainty that
they are taking proper security unaffected by prior encumbrances.
The Registration Office is
situated at 25A Cat Linh Ha Noi and the MoJ plans to open branches in
other major cities.
Salary Expenses Not
An answer to a query from
Miras Co Ltd, the General Department of Taxation (GDT) has advised that
the salaries and remuneration of investors in private enterprises, of
the owners of production businesses and of family households cannot be
treated as reasonable deductible expenditure for calculating business
income tax. However other expenses such as business travel costs (where
there is proper documentary evidence) can be regarded as reasonable
VAT Rules For Export
The GDT has sent a letter to
Delta Shoes Ltd (Delta) advising hem that in normal cases exported
goods, including goods processed for export, are liable to value-added
tax (VAT) at the rate of 10 per cent. Because Delta entered into a
contract for processing shoes for a foreign customer who requested Delta
to buy certain materials and accessories in Viet Nam for use in
processing the shoes for export, Delta can credit, or obtain a refund
of, input VAT in respect of those materials and accessories but it must
have proper invoices evidencing the purchase of the materials and
ODA Vehicles Go Tax Free
The Government has advised
that projects using non fundable official development assistance (ODA)
funds, nonrefundable aid from foreign non Government organizations
(NGOs) and humanitarian aid that buy automobiles duty free are
only exempt from duty, VAT and special sales tax if those automobiles
are used for the project purposes.
The projects will be liable
for those taxes and duty if the automobiles are not used for their
The Ministry of Planning and
Investment (MPI) is to look into limiting the number of cars that can be
bought duty free depending on the scale and nature of each specific
Foreign contractors using ODA
funds are liable to pay special sales tax where applicable; they are not
allowed to treat the automobiles as imports for re-export.
To improve investment and
construction activities under Decree 52/1999/NDâ€‘CP dated July 8
1999, the prime minister wants investors and others to improve the
manner in which investments are inspected and carried out.
Investors are required to
better organize implementation of their investment projects, send
regular reports to the coordinating body and investment appraisal body,
and notify them of any problems. Investors are responsible for any
failure to properly comply with regulations on investment inspections.
The direct management body
must monitor projects and encourage investors to comply with inspection
regulations, and must ensure that it receives regular updates and deals
with any difficulties arising from inspections.
The MPI is to co ordinate
investment and construction activities, particularly Group A projects,
and report difficulties to the prime minister.
The State Bank of Viet Nam
has issued new regulations (to replace or supplement those in Decision
284/2000/QDNHNN 1 dated August 25, 2000) on lending by credit
institutions to their customers.
The decision covers the types
of loans that can be made, the term of each type of loan which can be
agreed, the lending interest rates, lending limits, loan application
documents, approval of loans, methods of lending, credit contracts,
rights and obligations of customers and credit institutions, and
inspection of loans.
Total loans from a credit
institution to a single customer must not exceed 15 per cent of the
credit institution's equity; if more is required, syndication of the
loan may be possible. A credit institution cannot provide loans to
certain officers of the credit institution or their relatives, and
cannot provide unsecured or preferential loans to auditors or major
shareholders of the credit institution.
dated December 31, 2001
The General Department of
Taxation has provided guidelines on preferential tax incentives referred
to in Circular 22/ 2001/TTâ€‘BTC dated April 3, 2001.
Any production or business
establishment which commits an offence involving tax evasion will be
denied access to the preferential incentives in that fiscal year.
If the establishment commits
certain types of tax evasion more than twice, the tax authorities will
refuse all preferential tax incentives. Any enterprise undertaking an
investment project with different business lines will only be given
preferential incentives on the land rental for the part of the land on
which it conducts the preferred business line and incentives for the
machinery, equipment and vehicles imported for the purpose of conducting
business activities in relation to the preferred business line.
Official Letter 34ITCTICS
dated January 3, 2002
The General Department of
Land Administration (GDLA) has issued guidelines for procedures for
preparing, considering and approving applications by domestic
organizations, households and individuals to be allocated land and to
The circular details the
responsibilities of GDLA, departments of land administration, district
land administration authorities and various people's committees in the
allocation and leasing processes and the procedures to be undertaken
where a household or individual wants to build a house and requires land
to be allocated for that purpose; where land is required to be leased
for production and business purposes; and where an organization applies
for land to be allocated or leased.
Circular 20741200 1ITT
‘TCDC dated December 14, 2001
The Government has issued
Decree 101 to implement certain Articles of the Law on Customs relating
to customs formalities, examination and inspection systems.
It applies to exports and
imports and items such as currency, precious metals, gemstones, means of
transport and anything brought into, or taken out of, Viet Nam or in
transit through Viet Nam. Owners of goods, their agents or people
legally authorized by the owners must provide customs declarations and
other documentation. The decree details the customs formalities relating
to imports and exports, goods in customs bond warehouses and bonded
warehouses, and the procedures relating to planes, ships, trains and
other vehicles entering of leaving Viet Nam or in transit.
Decree 10112001IND CP
dated December 31, 2001
Obligations Spelled Out
The General Department of
Tourism has issued guidelines on implementing Decree 27/2001/NDâ€‘CP
dated June 5, 2001, on travel and tour guide businesses which applies to
all Vietnamese organisations and individuals and to foreign
organisations and individuals operating under the Law on Foreign
Investment in Viet Nam carrying on travel and tour guide businesses.
The circular sets out the
conditions and documents necessary to obtain a licence for operating
international package tours and domestic package tours. The rights and
obligations of enterprises conducting these businesses have been
clarified and added to and there are detailed provisions relating to the
payment and use of deposits, the conditions for drawing on deposits,
topping up deposits and returning deposits. Enterprises already
operating package tour businesses have three months from January 8, 2002
dated December 24, 2001
Quotas Put In Place For
Salt, Tobacco, Cotton
The Government has instructed
ministries and relevant authorities to experimentally apply tariff
quotas to imported salt, tobacco leaves and cotton.
The Ministry of Trade is
delegated to co ordinate with other State bodies to determine the
quantity and the management principles applicable to those goods. The
Ministry of Finance is delegated to coâ€‘ordinate with relevant
bodies to determine the tax rate applicable to the goods imported
within, or exceeding, the tariff quota.
Official Letter 11601CPâ€‘KTTH
dated December 24, 2001
number of significant reforms to the foreign loan regime became
effective as of 1 December 2001.
1432â€‘2001â€‘QDNHNN of the State Bank of Vietnam (SBV) dated
16 November 2001 introduces amendments to Circular 031999â€‘TTâ€‘NHNN7
of SBV dated 12 August 1999 as follows.
Time limit for
registration of medium and long term foreign loans with the SBV has been
extended to 30 days (up from 15 days) from the date of signing of the
foreign loan agreement, but still prior to drawdown.
limit for registration of any changes to the details of SBV loan
registration is now 30, days from date of signing a written agreement as
to changes (or 30 days from date on which changes become effective if no
borrower may sign a written agreement (if any) as to changes and give
effect to such changes prior to SBV registration provided that the
changes are consistent with the conditions for medium and long term
loans under Circular. 03 Previously, Circular 03 was silent as to the
time limit for registration of changes but prohibited agreements being
signed or changes becoming effective prior to registration.
agreements on changes to loan details may now be signed prior to SBV
registration, a copy of the signed agreement (if any) must now be
submitted when registering such changes. Previously, only the final
draft of such agreement was able to be submitted.
to consider and confirm registration of borrowing and repayment of
foreign loans (and changes in details of such loans) is now as follows:
and municipal SBV branches may register medium and long term foreign
loans (and changes thereto) of non State owned enterprises located
within their localities up to US$10 million (or another foreign currency
with equivalent value at the time of signing of the foreign loan
agreement) where loans comply with the conditions under Circular 03.
Where loans do not so comply, they must be submitted to the SBV Governor
for his consideration and decision;
Department of Foreign Exchange Control will register all other medium
and long term foreign loans (and changes there to).
State Bank of Viet Nam has eased the rules over offshore remittances by
new rules, which come into force on next January 1, outline how much
money can be sent overseas and when.
Vietnamese person wishing to study or receive medical treatment abroad
can send sufficient money to cover living expenses.
those expenses are not expressly stated, they can send no more than
US$5,000 on top of their tuition fees and $10,000 on top of the hospital
more than $5,000 every year can be sent abroad to support family members
inheritance amount of $10,000 can be sent overseas a year under the new
rules, with a 20 per cent cap if the inheritance exceeds $50,000.
Vietnamese person going to live abroad permanently can transfer up to
$10,000 every year offshore, or 20 per cent of the total should it top
Ease House Sales To Viet Kieu
(over-sea Vietnamese) will be officially permitted to buy a house,
apartment or even a villa in Vietnam after November 20th. They also will
be given a land use rights certificate for the house.
The degree stipulates that eligible Viet Kieu can not own more than one
house at a time.
The four new categories of Viet Kieu house buyer:
1. Viet Kieu committed to
long term investment projects in Vietnam. This category applies to
investors acting under the Foreign Investment Law or Domestic
Encouragement Investment Law, provided they have been granted an
investment license or business registration from the appropriate bodies.
2. Viet Kieu who have made
valuable contributions to the country, in the following sectors:
- Those who have been offered preferable conditions under the ordinance
concerning "invalids, martyrs and people who have helped the
- Those who contributed to
national liberation or the country's development, or who have been
awarded medals by the government, merit certificates by the prime
minister, chairman of the Fatherland Front Committee or other leaders of
cities and provinces.
- Those who have
participated on the management board of social, economic and political
organisations of cities and provinces, or who have actively helped
Vietnam's representative branches abroad.
3. Cultural specialists and
socialists who have been awarded certificates in science, education and
culture and economic experts who regularly come back to Vietnam and have
been invited by government bodies to contribute their knowledge to the
4. Those who wish to stay a long time in Vietnam.
69â€‘2001â€‘NDâ€‘CP of the Government dated 2 October
2001 provides in detail for implementation of the Ordinance on
Protection of Consumers' Rights dated 27 April 1999. Effective as of 17
October 2001, Decree 69 governs all organizations and individuals
producing and trading in goods and services ("producers and
and traders must:
ensure that consumers may make
their own choice, independently purchase or not purchase, and agree or
not agree to any model/type of goods, and any method or terms and
conditions of services;
favorable conditions so that consumers may purchase goods and services
the quality of which is ensured, at an appropriate price, and which
include measures for warranty and repair;
publish standards and quality
(where required) and ensure they satisfy same; ensure quality, hygiene
and safety of goods and services not on the list requiring appropriate
standards to be published;
with regulations on labeling and hygiene, safety and quality;
ensure accurate weight,
measurement and numbers of goods and services;
provide accurate and truthful
information on country of origin, labeling of goods, place of
production, use, special characteristics, standards, grade, main
components, date of manufacture, any existing quality inspection and
quality control certificates, and instructions on transportation, use
and storage of goods or services;
list publicly the prices of all
types of goods and services; deliver to consumers correct invoices;
with respect to goods and services
which could potentially endanger health or cause environmental
pollution, draw this to the attention of consumers and warn them in
advance; and explain clearly and provide instructions on methods of
using the goods and measures to avoid harm and damage;
not issue any rules which are
contrary to law or apply pressure to consumers regarding undertakings,
terms and conditions of sale of goods or services;
discharge obligations regarding
warranties, repair, exchange of goods, refunds and taking back goods
already sold, and other liabilities to consumers correctly in accordance
with the commitments they have agreed; and not delay or refuse to
fulfill these obligations;
guide consumers on the rational
and economical use of goods and services.
Finance Ministry has issued a circular governing the refund of value
added tax paid incurred in the production of export goods subject to 0%
benefit from the zero tax rate, Circular 10216 requires an export
manufacturer to submit a signed export contract as covered by articles
49, 50 and 81 of the Commercial Law or a telegraph, telex, fax or eâ€‘mail
which contains the basic elements of a sales contract.
customs declaration form must be submitted for export goods marked
"customs procedures done" to prove the goods have been
failing to provide the required documentation are not entitled to 0%
documents can be kept at business premises and do not have to be handed
over to tax bureaus.
Mortgages To Foreign Banks Allowed
organizations and individuals can now mortgage their land use rights to
foreign banks operating in Vietnam following an amendment to the
existing Decree 17/ 1999.
issued on Thursday governs the transfer, lease, rent, and inheritance of
land use rights, and their use as a mortgage or capital contribution.
can mortgage land use rights to any credit institutions in Vietnam if
certain criteria are met; and in that case, they can also give
guarantees on the strength of their land use right mortgaged at banks.
individuals who use farming or forestry land assigned by the Government
or legally inherited are now able to mortgage their land use rights and
the assets attached to the land to any credit institution in the country
to borrow for production or trade purposes.
organizations who have paid for the rights to land assigned by the
Government or rent land from the Government and have paid all rental
money due are also included.
Users of land
assigned free by the Government for timber growing, or fisheries or salt
farming without, and those who rent land from the Government and pay the
rent annually, can only mortgage assets attached to the land, not the
land use rights.
also allows people to transfer the assets attached to land use rights or
to inherit the assets from others by using any of eight kinds of legal
documents equivalent to a land use rights certificate, instead of the
certificate regulated in the old version of Decree 17.
substitute documents are a temporary land use right certificate, a
decision to lease out or assign land, land assignment certificates
issued by the former regimes and court verdicts on disputed lands.
Tender Regulations Come Out
1, the Service of Planning and Investment oversees all tenders put out
for projects financed with State capital in HCMC, the city government
rules in Decision 82/ 2001/QD UB dated September 19.
The new rules
allow contractors and equipment suppliers to be appointed for projects
capitalized below VND300 million, and consultants for projects
capitalized below VND200 million.
manufacturers who produce at least 10 per cent of the parts they use in
bike assembly are set to enjoy preferential import tariffs next year,
according to a new instruction issued by Deputy Prime Minister Nguyen
instruction says the assemblers can either make the components
themselves, or co operate with other producers on a contractual and
profit sharing basis.
the parts produced domestically must meet quality standards issued by
the Ministry of Science, Technology and Environment as well as the
labeling requirements laid down by the Industry Ministry.
rules are the latest salvo in the Government's bid to get motorbike
makers to up their "localization rate that is, the proportion of
parts and components sourced within Viet Nam.
parts are imported, undermining the Government's hopes of developing a
domestic motorbike components production capability.
deputy PM's instruction sets an "H Index" the tariff
calculating factor applied for cases where assemblers buy parts and
components from domestic suppliers to feed their assembly lines.
assemblers must also abide by the "K Index," which is the
preferential tariff standard for engine production applying when the
engine localization rate is above 20 per cent. But some parts produced
locally are not included in the list of those enjoying preferential
a result of the new rules, the Finance Ministry has announced that from
today it will temporarily an import tax of 60 per cent on motorbike
parts. It will also abolish the current tax calculation method, which is
based on last year's localization rates, for imported parts in 2002.
Delegates Antes Inspection Powers
General Department of Customs has authorized provincial bureaus to
decide on the way to carry out inspections and the ratio of goods
subject to random inspection.
issued late last week says the ruling applies in cases where a customs
check could affect goods quality or make it difficult to re containerize
the goods, and to imports subject to 30% tariffs or higher.
authorization comes on the heels of complaints several days after
piloting the Customs Law at a couple of ports that the new procedures,
while speeding up goods clearance in the majority of cases, are causing
problems for goods owners who have to transport their export
consignments to the ports for inspection.
they could have this done at their warehouses. The circular also names
more import goods exempt from customs inspections, including clinkers
oil and gasoline, gas, malt and fertilizer. In addition, goods subject
to quarantine are only permitted to enter after all quarantine
procedures have been completed, the department reiterates.
runs of the new Customs Law have been extended to Khanh Hoi Port, Ben
Nghe Port, Thu Duc Customs and Tan Son Nhat Airport in HCMC and Van My
Port in Hai Phong.
Effective as of early September
2001, new regulations have been introduced governing international
conferences and seminars held and/or hosted in Vietnam.
Permission from the Prime
Minister (PM) must be obtained for the following:
- High-level international
conferences and seminars where the participants are the heads of
countries or people at ministerial or higher level of countries or of
International conferences and
seminars where the subject matter relates to political, ethnic or
religious issues, national security and defense, or State secrets.
Other types of international
conferences and seminars need permission from the head of the relevant
central or local State body.
purpose, subject matter, time and location of a conference or seminar,
locations for any sightseeing or investigation, details of the
Vietnamese and/or foreign organizers and the funding source, number and
composition of delegates (domestic and foreign), and opinions from the
relevant State bodies (if any) must be submitted:
In cases subject to the PM's
permission: one month in advance by Vietnamese applicants; two months in
advance by foreign applicants;
In other cases: 10 days in
advance by Vietnamese applicants; one month in advance by foreign
A report summarizing the
results of the conference or seminar must be submitted to the body which
permitted it and the Government Committee on Organization and Personnel
within one month following the conference or seminar.
Central and local State
administration of international conferences and seminars includes:
Controlling the contents of all
documents, reports, speeches, material and data disseminated and all
publications circulated before, during and after the conference or
Identifying and taking
measures to deal promptly with any acts of individuals and organizations
in breach of the law.
Businesses engaged in
developing housing projects for sale and lease will enjoy a number of
According to Decree 71/2001,
the Government will offer incentives to local and foreign real estate
businesses participating in building high rises (five stories or more in
Hanoi and HCM City, and three stories or more in other localities),
condominiums and housing projects where 60% or more of the land space
are for high rise condominiums.
Local businesses will be exempt
from land use fees for hirise condominiums and offered a 50% reduction
of the land use fee for houses within the land reserved for these
In addition, they will not be
required to pay land use fees if the projects are located in challenged
areas. Developers in extremely difficult areas will enjoy a corporate
income tax of 15%, in difficult areas 20% and in other areas 25%.
The decree, effective from
October 20, also encourages foreign investors to develop housing
projects in urban areas. They will enjoy land rent exemption during the
land lease term for high rise condominiums and three year exemption for
other housing projects. Projects where construction or operation must be
temporarily stopped with the approval of competent authorities will
enjoy 50% reduction of land rent during the time of suspension.
Developers in extremely difficult areas will be offered a corporate
income tax of 10%, in difficult areas 15% and in other areas 20%
The Government has issued new
regulations giving banks the right to sell forfeited assets mortgaged as
collateral to help them recover long frozen capital.
A decision signed recently by
Prime Minister Phan Van Khai entitles bankers to sell forfeited assets
to locals, to State Debt Trading Co. or via the Assets Auction Service
Courts must hand assets
involved in settled economic cases over to banks as soon as possible to
allow them to boost the sale process.
Nearly all local banks are
facing difficulties in auctioning off forfeited assets to recoup their
In HCMC alone, banks are
holding on to more than 2,900 forfeited property items valued at VND
Among 375 items valued at
VND2,142 billion involved in the Minh Phung Epco case, only 16 items
have been sold, for VND29.4 billion.
The central bank will conduct
U.S. dollar dong swap deals up to US$20 million within one day,
following a proposal by commercial banks.
Decision 1289/2001/QD NHNN
signed by governor Le Duc Thuy on October 11 and effective immediately
says dong purchases will be transferred to commercial banks within one
day to encourage dong hungry banks to use swaps.
Legal Firms In The Planning Stages
The Justice Ministry is
drafting regulations allowing foreign law firms to set up wholly owned
and joint venture legal firms in Vietnam in line with conditions stated
in the trade agreement with the United States.
"The Government is calling
for foreign investment, and opening the door wider to foreign law firms
would help," an official in the ministry department responsible for
lawyers said yesterday.
Many foreign companies shy away
from investing in Vietnam because they do not trust local lawyers, while
many of those already here hire Vietnamese lawyers to advise on the
country's rules and regulations.
The draft will include a
provision giving Vietnamese lawyers more freedom in choosing to work for
foreign law firms, a practice currently restricted.
"These conditions are
included in the trade agreement, which will be ratified by Vietnam's
National Assembly next month," the official said.
The proposed regulations might
not be welcomed by the legal community, who objected strongly to the
1995 decision allowing foreign law firms to open branches here, he said.
"We will hold a meeting to
collect opinions on the draft next month," he said.
In the last six years, 42 law
firms from France, the United States, Britain, Singapore and elsewhere
have set up operations in Vietnam. A Singapore firm plans to startup number 43 soon.
Joint Ventures In Freight Forwarding
State owned companies seeking
to form local foreign joint ventures in freight forwarding by air, road
or river should hold a 51 % stake or more in the proposed venture, the
Ministry of Communications and Transport proposes in a written
submission to the Government.
The ministry says this field of
business can be handled by domestic companies and does not need foreign
On The Spot
Import And Export Of Processed Goods
Processed goods, leased or
borrowed machinery and equipment, left over raw materials, sub materials
and supplies, and faulty products and scraps (under processing contracts
with foreign entities) are now permitted to be exported on the spot to
domestic and foreign invested enterprises wishing to import them, under
Government Decree 442001â€‘NDâ€‘CPdatedAugust2,2001 (reviewed
in this column on September 14).
The Ministry of Trade has
provided specific guidelines for on the spot import and export of
processed goods in Circular 202001 TT 13TM dated August 17, 2001
(effective as of September 4, 2001), including:
for on the spot import and export:
Processing contract or appendix thereto signed between the processor and
the foreign entity, specifying the name and address of the domestic or
foreign invested enterprise which will import the processed goods on the
(2) Foreign trade
contract for purchase and sale signed between the foreign entity and the
domestic or foreign invested enterprise importing the processed goods on
Conditions for on the
spot import and export:
(1) The processed goods
must not be prohibited imports;
(2) For goods imported
under license, an import license must be obtained from the competent
body before signing the foreign trade contract;
(3) For goods subject to
specialized management, the conditions for import must be satisfied;
(4) Second hand processed
goods and faulty products and scrap which are imported on the spot must
comply with the regulations of the Ministry of Science, Technology and
Procedures for on the
spot import and export:
(1) Export procedures for
the consignment of processed goods must be carried out in accordance
with customs regulations and the processing contract must be finalized
with the customs office which registered it;
(2) Import procedures
must be carried out in accordance with customs regulations, import duty
must be paid, and other financial obligations (if any) must be
discharged in accordance with law.
After completion of part or all
of a processing contract, the processed goods must be dealt with as
agreed by the contracting parties and in accordance with law. Procedures
for on the spot import and export, re-export, purchase and sale, giving
as a gift or donation, destruction, and transfer to another contract
must be carried out at the customs office.
The Ministry of Trade
must provide written approval to the purchase and sale, giving as a gift
or donation, or destruction of processed goods which are prohibited
imports or imports subject to license.
Will Be Exempt From Certificate Of Origin (C/O) Check
Beginning October 17, businesses
will be exempt from certificate of origin (C/O) check upon completion of
customs procedures for export goods.
According to Circular 22 of
the Ministry of Trade and the General Department of Customs,
businesses importing goods, excluding machinery, equipment and means of
transport, that come from countries enjoying the most favored nation
status granted by Vietnam and having long term business contracts of
over six months must only show C/Os for the first impost shipment.
Protect Consumer Interests
issued Decree 69/ 2001/ND CP, dated October 2, which provides guidelines
for implementing an ordinance on consumer interest protection.
states that all organizations and/or individuals involved in trading
and manufacturing goods are responsible for providing honest and exact
information on all their goods and services.
includes delivery of invoices and bills from tax agencies. The decree
also states that such organizations and/or individuals are banned from
providing illegal and obligatory rules to their customers.
organizations and individuals are obligated to abide by their agreed
guarantees in providing maintenance services, exchanging goods and
refunding money to their customers.