Presidential Office announces eight more laws

The Presidential Office announced eight laws, which were adopted at the 13th National Assembly’s eighth session last month, at a press conference in Hanoi on December 12.

They include the Laws on Civil Status, Investment, Enterprise, Occupational Education, and Management and Use of State Capital in Production and Business, and the Laws on amendments and supplements to some articles of the Laws on Civil Judgment Enforcement, Taxation, and Special Consumption Tax.

The law on amendments and supplements to some articles of the Law on Special Consumption Tax will take effect from January 1, 2016. All types of petrol will be subject to special consumption tax. Tax on tobacco will increase from 65 percent to 70 percent from January 1, 2016, and to 75 percent from January 1, 2019.

Becoming effective on January 1, 2015, the law on amendments and supplements to some articles of the Law on Taxation says that farm produce and seafood processing activities of cooperatives and businesses in extremely disadvantaged areas will be exempted from corporate tax.

The Law on Investment with seven chapters and 76 articles and the Law on Management and Use of State Capital in Production and Business with 10 chapters, 66 articles will come into effect on July 1, 2015.

Source: VNA

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