tin va('n VN 2

[AnHai Doan <anhai@cs.washington.edu>]

VAT Law to take effect in 1999

After a week of discussions on the names and content of
many articles, the National Assembly (NA) last Friday passed the
country's first Value Added Tax (VAT) Law with 314 of the 322 vot es
(80.7% of the deputies) in favor.

The law, scheduled to come into effect in January 1, 1999, will
replace the current Revenue Tax Law. Through discussions, deputies
decided to adjust the proposed VAT rates on several items.

Literary and artistic books will be subject to a 5% VAT rate instead
of 10% as prescribed in the draft law and a VAT rate of 10% rather
than the proposed 20% will be imposed on cosmetics and postal
services.

As for the name of the law, the NA had to organize two voting rounds
to name the law in Vietnamese because deputies debated whether the
phrases "gia tri" or "tri gia" should be used in the Vietnames
e-language name of the law. 

The two phrases have the same meaning in English - "value." But the
NA approved the phrase "gia tri" in the Vietnamese-language title of
the law, with 214 of the 317 votes in favor, representing 55% of the
total deputies present.

OK to Road No. 9 linking Thailand-Laos-VN: Thai Minister

"Road No. 9 is very convenient for the
development of the North-East Corridor linking Mukdahan in Thailand,
Savannakhet in Laos and Quang Tri Province in Vietnam," said Mr.
Werak orn Khumprakob, Minister attached to the Thai Prime Minister's
office during a meeting with Vietnamese journalists in HCMC on April
26.

Minh Phung, EPCO directors face new prosecution

The HCMC police last Thursday decided that the directors
of Minh Phung and EPCO firms will be prosecuted for the crime of
fraud and embezzlement of State property.

EPCO ex-director general Lien Khui Thin will face court trial for
the crime of  fraud and embezzlement of State property, instead of
abuse of trust to embezzle State assets as stated in the previous
police decision.

Minh Phung ex-director Tang Minh Phung will be brought to court not
only for fraud and embezzlement of State property, but also abuse of
trust to embezzle State assets.

They were arrested a month ago as they had conspired to appropriate
VND480 billion (some US$43.6 million) worth of assets mortgaged at
State-owned Vietcombank HCMC.

VN-USA 

Society launches teaching programs

The Vietnam-USA Society (VUS) will inaugurate a VUS
English school at 87C Tho Nhuom St., Hanoi on May 5, 1997 which can
receive 1,000 students who will study English according to textbook
courses taught at American universities.

Green light for entertainment industry in Hanoi

The Hanoi People's Committee supports plans for more
entertainment centers in Hanoi, according to Chairman of the Hanoi
People's Committee Hoang Van Nghiem during his visit to Hanoi Zoo on
April 21.

In the near future, the Service of Communications and Public Works
and Director of Hanoi Zoo should soon prepare the projects to set up
recreational complexes like Hanoi Zoo, said Mr. Nghiem.
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