The recently-adopted amended Constitution and six new laws will come into force on January 1, 2014.
The laws include the Laws on amendments and supplements to somearticles of the Laws on Residence, Value-added Tax and Corporate IncomeTax, plus the Law on Science and Technology, the Law on National Defenceand Security Education, and the Law on Mediation at the GrassrootsLevel.
Divided into 11 chapters with 120 articles (one chapterand 27 articles fewer than the previous version), the amendedConstitution clearly states that the Socialist Republic of Vietnam isgoverned by law and mastered by the people.
It fullyspecifies political and economic regimes, showing the nature ofVietnam’s economy as a market-based one following the socialistorientations.
The document also highlights culture,science-technology, environment protection, human rights, basiccitizens’ rights and obligations, national defence, the State apparatus,the validity and amendments to the Constitution.
On the Stateapparatus, it basically inherits the State organisation model mentionedin the old version, but better explains the principle that State powersare unified and decentralised to State bodies in the exercise of theirlegislative, executive and judiciary powers.
On theamendments to the Law on Value-added Tax, low-income earners will havechances to buy their own houses thanks to reduced value-added tax.
It also issues tighter regulations on the refund of value-added tax.
Meanwhile, changes to the Law on Corporate Income Tax are expected tostimulate production and trading in line with the 2011-2020 tax reformstrategy.
Those with annual revenue of less than 20 billionVND (950,000 USD) are subject to a tax level of 20 percent from July 1,2013.
Since January 1, 2016, the general corporate tax will stand at 20 percent and preferential tax, at 17 percent.
With eight chapters and 47 articles, the Law on National Defence andSecurity Education clearly states that it is meant to raise public senseof safeguarding the nation and the State.
It also says theState ensures resources for defence and security education and issuesincentives for border, island, remote and mountainous areas.-VNA
The laws include the Laws on amendments and supplements to somearticles of the Laws on Residence, Value-added Tax and Corporate IncomeTax, plus the Law on Science and Technology, the Law on National Defenceand Security Education, and the Law on Mediation at the GrassrootsLevel.
Divided into 11 chapters with 120 articles (one chapterand 27 articles fewer than the previous version), the amendedConstitution clearly states that the Socialist Republic of Vietnam isgoverned by law and mastered by the people.
It fullyspecifies political and economic regimes, showing the nature ofVietnam’s economy as a market-based one following the socialistorientations.
The document also highlights culture,science-technology, environment protection, human rights, basiccitizens’ rights and obligations, national defence, the State apparatus,the validity and amendments to the Constitution.
On the Stateapparatus, it basically inherits the State organisation model mentionedin the old version, but better explains the principle that State powersare unified and decentralised to State bodies in the exercise of theirlegislative, executive and judiciary powers.
On theamendments to the Law on Value-added Tax, low-income earners will havechances to buy their own houses thanks to reduced value-added tax.
It also issues tighter regulations on the refund of value-added tax.
Meanwhile, changes to the Law on Corporate Income Tax are expected tostimulate production and trading in line with the 2011-2020 tax reformstrategy.
Those with annual revenue of less than 20 billionVND (950,000 USD) are subject to a tax level of 20 percent from July 1,2013.
Since January 1, 2016, the general corporate tax will stand at 20 percent and preferential tax, at 17 percent.
With eight chapters and 47 articles, the Law on National Defence andSecurity Education clearly states that it is meant to raise public senseof safeguarding the nation and the State.
It also says theState ensures resources for defence and security education and issuesincentives for border, island, remote and mountainous areas.-VNA
