Luat Viet

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Question :: I am a member of the Supervisory Commission (the Commission) of a public company which is unlisted and termed from 2007 to 2010. Until now, my term is still valid. In 2009, I was [not] invited to attend any meeting of the company’s Commission. Recently, I also did not attend the Commission’s meeting to produce the Commission’s Report for submission to the General Shareholder’s Meeting (the Meeting) year 2010 on April 9. I was informed that this Commission’s Report was built by the Commissions’ Director (the another member of the Commission also did not attend). I would like to ask you whether the operation of the Commission like that is legal or not? Is the Report mentioned above legal? What should I do to comply with the rights, duties and obligations of a Commission’s member?
Question :: I am a president of the Management Board (“the Board”) of a public company. As per regulations, the term of the Board, Supervisory Commission (“the Commission”) is five (5) years. Therefore, the first term of the Board, Commission is due on November 2010. However, in order to facilitate the voting of the Board, the Commission in the second term, the Board would like to submit the General Shareholder’s Meeting (“the Meeting”) with the latest on April 19, 2010 for renewal of the first term of the Board, the Commission until April 2011. So, the question is that is the renewal true or not? If the shareholders are not taken opinions directly at the Meeting, can the Board collect opinions indirectly from shareholders in writing? If the Meeting does not pass the renewal, how can the voting of the Board, the Commission be taken in compliance with laws?
Question :: Our company registers shares at the Securities Depository Central (SDC), but cannot deposit, of which my 10.000 shares. So, can I transfer directly 2.000 shares to my brother and compliment 2.000 shares to my wife?

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LEGAL NEWS

Personal Income Tax Finalization for Year 2009 and Dependant Person Registration for Year 2010

Aiming at improving and simplifying the tax administrative procedures, the General Department of Taxation issued Circular No. 90/TCT-TNCN dated 8 January 2010 with regard to the PIT finalization for year 2009 and dependent person registration for year 2010 as followings:

The submission of 2009 PIT finalization declaration form is suspended in January 2010 when the General Department of Taxation is in the course of developing, and presenting the Ministry of Finance for approval, the new form, according to the plan, in the first half of January 2010. The finalization in the new form and submission to the taxation authority resumes from 1 February 2010.

With regard to the family allowances, persons who registered with the income payer for family allowances in connection to their salary or wages in 2009 are not required to redo the registration in 2010 and the coming years. Nevertheless, should there be any change on the dependant person, the tax payer within 30 days of such change is obliged to fill in and send to the income payer 02 forms No. 16/ĐK-TNCN for registration of dependant person variation.