The General Department of Taxation issued Official Letter No 1136/TCT-TNCN on April 5, 2011 replying to Official Letter No 53/CT-TTHT of January 5 from the HCM City Department of Taxation with respect to PIT exemptions under the Law on Domestic Investment Promotion for individual investors who received stock dividends. Accordingly, stock dividends paid for 2009 and previous years before July 1, 2010 are not subject to personal income tax. Capital gains resulted from transferring these shares as of January 1, 2010 are subject to PIT, but dividends therefrom are PIT exempted.
On 4 April 2011, the Government issued Decree No. 22/2011/NĐ-CP on adjusting level of minimum salary. Accordingly, the minimum salary shall be increased to 830,000 VND per month. It will be used for establishing salary scale, pay roll, allowances for employees. The Decree shall take effect on 19 May 2011 and replace Decree No. 28/2010/NĐ-CP.
On March 16, 2011 Ministry of Finance issued the Circular No. 37/2011/TT- BTC guiding the implementation of number of articles of Decree No. 85/2010/ND-CP dated August 02, 2010 of the Government on sanctioning of administrative violations in the securities field and securities market ("Circular 37"). [+]