Gov’t releases six legal documents in August

Decree 77/2021/ND-CP, dated August 1, 2021 regulating the seniority allowance for teachers. The Decree stipulates the time for calculating the benefit, the time for excluding the seniority allowance, the allowance level, and the way to calculate the seniority allowance.

As for the seniority allowance, this Decree specifies that teachers participating in teaching and education who have paid compulsory social insurance for full 5 years (60 months) are entitled to a seniority allowance equal to 5 years. From the sixth year onwards, each year (full 12 months) is charged 1% more.

Decree 78/2021/ND-CP, dated August 1, 2021 of the Government on the setting up and management of Natural Disaster Prevention and Control Fund.

The Fund is managed by the Ministry of Agriculture and Rural Development (MARD). It operates under the model of a one-member limited company with 100% of authorized capital held by the State. Its management and administration apparatus includes a Management Board, a Supervisory Board, and a Fund Management Agency.

Decree 80/2021/ND-CP, dated August 26, 2021 detailing and guiding the implementation of a number of articles of the Law on supporting small and medium enterprises.

The Decree adds a number of maximum support levels for support amounts that have not been regulated before. It includes 100% support of consulting contract value on establishment procedures, transfer, exploit and protect intellectual property rights in the country but not exceeding VND 30 million contract per year per enterprise.

PM’s Decision No. 26/2021/QD-TTg, dated August 12, 2021 on classification system of industries subject requirement transformation into joint stock companies./.

By Kim Loan