Amendments to the Law on Value-added tax:

1. Clauses 4, 7, 8, 11, 15, 17, 23 and 25 of Article 5 are amended as follows:

 “4. Salt products made of seawater, natural rock salt, refined salt, iodized salt of which the primary constituent is sodium chloride (NaCl).”

 “7. Life insurance, health insurance, insurance for students, other insurances related to humans, insurance for animals, insurance for plants, other agricultural insurances; insurance for boats, ships, and other equipment necessary for fisheries; reinsurance.

8. The financial, banking, and securities services below:

a) Credit services include: loaning, discounting or rediscounting negotiable instruments and other valuable papers; guarantee; finance lease; domestic factoring; international factoring; other credit services according to law;

b) Loaning services provided by taxpayers that are not credit institutions;

c) Securities services include: securities brokerage; proprietary trading of securities; guaranteeing securities issuance; securities investment consultancy; securities depository; management of securities investment fund; management of securities investment portfolio; market organization services of Stock Exchanges or Securities trading centers; other securities services according to the laws on securities;

d) Capital transfers include: transferring part or the whole invested capital, including selling an enterprise to another enterprise; other forms of capital transfers according to law.

dd) Selling debts;

e) Trading in foreign currencies;

g) Derivative financial services include: swapping interest rates; forward contracts, futures contracts, foreign-exchange options; other derivative financial services according to law;

h) Selling collateral for loans taken by organizations of which 100% of charter capital is possessed by the State, which are established by the Government to settle bad debts of Vietnamese credit institutions.”

For further details, please visit http://vbqppl.mpi.gov.vn/en-us/Pages/default.aspx?itemId=e8b872a9-079d-42fd-be10-368935dbaf6e&list=documentDetail