Thu. Apr 18th, 2024

The National Assembly Standing Committee convened its 16th session in
Hanoi on March 18 to discuss draft amendments and supplements to
several laws.

They commented on the draft
amendments and supplements to some articles of the Added Value Tax Law,
the Corporate Tax Law, and the Law on Fire Prevention and Fighting, as
well as draft amended Laws on thrift practice and waste prevention,
emulation and commendation, immigration and reception of citizens.

The deputies debated a scheme to renovate the apparatus of legislative
bodies, preparations for collecting confidence votes on those elected
or approved by the National Assembly, and the fifth session of the 13 th
legislature.

On the day, they adopted an Ordinance
on amendments and supplements to a number of articles of the Foreign
Exchange Ordinance, which stipulates that the State Bank of Vietnam
will be in charge of instructing legal capital transferring activities.

A foreign investor, who is non-resident in Vietnam, must open a bank account in Vietnamese dong serving his/her indirect
investment in the country and indirect investment capital in foreign
currencies must be converted to Vietnamese dong via the bank account
before going to invested projects, according to the revised Ordinance.

NA
Chairman Nguyen Sinh Hung asked that documents to guide the enactment
of the Ordinance and administrative procedures must create possible
favourable conditions for investors.

Participants
also heard the Government’s report on the amended Added-Value Tax Law.
As scheduled, a question-and-answer session will take place within one
day.-VNA

By vivian