Decree No. 09/2001/NĐ-CP amends Article 21 of Decree No. 05/CP dated January 20, 1995 of the Government detailing the implementation of the Income Tax Ordinance for high-income individuals.

DECREE

Amending Article 21 of Decree No. 05/CP dated January 20, 1995 of the Government detailing the implementation of the Income Tax Ordinance for High-Income Individuals

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 THE GOVERNMENT

Pursuant to the Government Organization Law dated September 30, 1992;

On the basis of the amended Income Tax Ordinance for High-Income Individuals adopted by the Standing Committee of the National Assembly on May 19, 1994; Within 10 working days from the date of receipt of the dossier as mentioned in Sub-clause b, Clause 1, Article 3 above, the Ministry of Foreign Affairs will review and submit to the competent authority for decision (Issues exceeding the Ministry of Foreign Affairs' jurisdiction will be referred to the Prime Minister for consideration and decision).On the basis of Ordinance No. 14/1999/PL-UBTVQH10 dated June 30, 1999 of the Standing Committee of the National Assembly amending certain articles of the Income Tax Ordinance for High-Income Individuals;

Repealing the following content of Article 21 of Decree No. 05/CP dated January 20, 1995 of the Government detailing the implementation of the Income Tax Ordinance for High-Income Individuals: Within 10 working days from the date of receipt of the dossier as mentioned in Sub-clause b, Clause 1, Article 3 above, the Ministry of Foreign Affairs will review and submit to the competent authority for decision (Issues exceeding the Ministry of Foreign Affairs' jurisdiction will be referred to the Prime Minister for consideration and decision)."Administrative bodies managing, training, and selecting workers are permitted to deduct up to a maximum of 8% of the income of workers for management, training, and selection purposes. The aforementioned funds shall be managed and utilized in accordance with current financial regulations."

At the proposal of the Minister of Finance,

DECREE:

Article 1. REVOKE the following content of Article 21 of Decree No. 05/CP dated January 20, 1995, of the Government detailing the implementation of the Income Tax Ordinance for High-Income Individuals:

"Organizations managing, training, and selecting workers are permitted to deduct a maximum of no more than 8% of the income of the workers for management, training, and selection purposes. The aforementioned fund shall be managed and utilized in accordance with the current financial regulations."

Article 2. This Decree shall take effect fifteen days from the date of signature.

Article 3. The Minister of Finance shall guide the implementation of this Decree.

Ministers, heads of ministerial-level agencies, heads of government-affiliated agencies, Chairpersons of provincial and municipal People's Committees directly under the Central Government are responsible for implementing this Decree./.