Luat Viet

Advocates & Solicitors

“I don't need lawyers who win at all costs, I really need them to win, but calculate the costs.”

SUBCRIBE NEWSLETTER

Search

question and answer

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?

Hit counter

Users online

Page loadtime

LEGAL NEWS

Tax Relief for Individuals and Enterprises

On 21 June 2012, National Assembly adopted Resolution no. 29/2012/QH13 introducing a number of preferential tax policies on organizations and individuals, effective as from its approval.

Laborers who have taxable personal income at level 1 (up to VND 5 million) shall be exempted from payment of Personal Income Tax (PIT) from 1 July 2012 until 31 December 2012.

Exemption of VAT, PIT and Corporate Income Tax (CIT) will be applied to:

- Individuals and households deriving rental income from workers, laborers and students;

- Individuals and households providing childcare services;

- households, individuals and organizations providing mid-shift meal catering to workers on condition that such prices remain the same with those offered by the end of 2011.

Reduction of 30% CIT payable in 2012 will be applicable to:

- Small and medium enterprises (excluding enterprises doing business in lottery, real estate, securities, finance, banking, insurance, producing commodities and providing services subject to Special Consumption Tax; or enterprises ranked first or special class in economic corporations or groups);

Labor-intensive enterprises engaged in manufacturing and processing agricultural, forestry and aquatic products, textiles and garments, leather and footwear, electronic components, construction of socio-economic infrastructure.