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Modification of credit guarantee conditions for small and medium enterprises
The Government issued Decree No. 34/2018/ND-CP on the establishment, organization and operation of credit guarantee funds (SMF) for small and medium enterprises.
Accordingly, the new regulations on the conditions for granting SMF are as follows:
– Having an investment project, effective production and business plan, capable of repaying the loan.
– Investment projects, production and business plans evaluated by SMF and guaranteed under the provisions of this Decree.
– Having a minimum capital plan of at least 20% (formerly at least 15%) to participate in investment projects and production and business plans at the time the SMF are appraised for the issuance of a guarantee.
– At the time of applying for guaranty, the enterprise has no tax debts for one year or more. In case of tax debts due to objective reasons, the enterprises must obtain certification of the direct tax administration agency.
– Take measures to ensure the provision of loan guarantee according to the provisions of Article 25 of this Decree.
Accordingly, this new regulation has removed the requirement that the subject of the guarantee must have the total value of collateral and mortgage assets at the credit institution at least equal to 15% of the value of the loan.
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Impose fines up to 20 million if not enough financial statements
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News & Event, News & Legislation
More agencies are charged fees for assessing liquor trading conditions
The Finance Ministry has issued Circular No. 22/2018/TT-BTC amending Circular No. 299/2016/TT-BTC on the rates, the regime of collection, remittance, management and use of fees for evaluation of business conditions. Licenses for the production of alcohol and cigarettes.
Accordingly, the competent authorities shall collect fees for appraisal of business conditions for the grant of liquor production licenses under Article 25 of Decree No. 105/2017 / ND-CP dated 14/9/2017, including:- Ministry of Industry and Trade;
– Departments of Industry and Commerce of provinces and cities directly under the Central Government;
– People’s Committee of district,
– People’s Committee of the town and city of the province.
In addition, the Ministry of Industry and Trade and the Department of Industry and Trade also have the right to collect fees for assessing tobacco business conditions in accordance with Articles 11, 14 and 19 of Decree 67/2013 / ND-CP dated 27 June 2013.
See details in Circular 22/2018 / TT-BTC (effective from April 8, 2015). Read More