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Vietnam Weekly Update - 29 November 2021

Cập Nhật Hàng Tuần Việt Nam - 29 Thang 11 2021

In this legal update: 1) Amendment, supplement on some articles of Decree No. 122/2016/ND-CP and Decree No. 57/2020/ND-CP, 2) Guidance on administrative sanctions in case of import of banned goods; and 3) Guidance on the registration of VAT declaration of export processing enterprises.

In-Game Units in Vietnam

This post examines the legal issues of buying and selling virtual assets in games in Vietnam with what is referred to as In-game units.

Vietnam Updates From ADK - Vol. 27: State Securities Commission advises re: investment and business activities on unregulated or non-recognized stock exchanges.

Bản Tin Pháp Luật Từ ADK - Số 27: Ủy ban chứng khoán nhà nước khuyến cáo các nhà đầu tư cảnh giác về việc tham gia đầu tư, kinh doanh trên các sàn giao dịch chứng khoán không được pháp luật chứng khoán quy...

In this update: 1) Investors to be wary of investment on unregulated or non-recognized stock exchanges, 2) The National Power Development Plan for 2021-2030 to consider reducing coal, excluding solar power from distribution, 3) Amending the Land Law to support small and medium-sized enterprises.

Vietnam Weekly Update - 22 November 2021

Cập Nhật Hàng Tuần Việt Nam - 22 Thang 11 2021

In this week’s legal update: 1. Guidelines on rooms for pressing and storing breast milk at workplaces, 2. Problems in handling administrative violations in case enterprises make false declarations; and 3. Personal income tax (“PIT”) determination for employees working for foreign airlines.

Vietnam Updates From ADK - Vol. 26: Ministry of Culture, Sports and Tourism released temporary guidance on welcoming international tourists to Vietnam

Bản Tin Pháp Luật Từ ADK - Số 26: Bộ Văn hóa, Thể thao và Du lịch ban hành hướng dẫn tạm thời thí điểm đón khách du lịch quốc tế đến Việt Nam

In this update: 1) Temporary guidance on welcoming international tourists to Vietnam, 2) Supplementing regulations of contents, forms of Certificates of compulsory fire and explosion insurance, 3) Deputy Prime Minister Vu Duc Dam proposed offering aid packages for workers who return to cities to work.

Decree 85 amending e-commerce regulations

Following on from the new rules to tighten up the taxation of e-commerce (please refer to our previous NewsBriefs for further details on related tax and customs regulations), on 25 September the Government issued Decree 85/2021 setting out new rules on e-commerce.

Vietnam Weekly Update - 15 November 2021

Cập Nhật Hàng Tuần Việt Nam - 15 Thang 11 2021

In this week’s legal update: 1) Amending and supplementing several articles of Decree No. 83/2014/ND-CP on petrol and oil trading, 2) Guidance on handling overpaid tax in case of false declaration of value of imported goods, 3) Amending on the subjects entitled to defer the payment to Trade Union funds.

Vietnam: Draft Circular guiding the contents of foreign exchange management for enterprises' foreign borrowing and debt repayment

In this update: 1) The draft Circular guiding the contents of foreign exchange management for enterprises' foreign borrowing and debt repayment, and 2) The draft Decree on the management of export and import goods transacted via e-commerce.

Establishing an Offshore Holding Company for Vietnamese Startups

This article will look at the legally promulgated process for a Vietnamese startup to setup an offshore holding company with a Vietnamese subsidiary and the possibility for additional subsidiaries in other jurisdictions.

Vietnam Weekly Update - 8 November 2021

Cập Nhật Hàng Tuần Việt Nam - 10 Thang 11 2021

In this Legal Update: 1) Detailed regulations on solutions to support businesses and people affected by the Covid-19 epidemic; 2) The application of "Vaccine Passport" and measures to create favorable conditions for foreign experts to enter for economic purposes; and 3) Deposit level for travel service business.

Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy (Round 10)

On 28 October 2021, the Royal Government of Cambodia (“RGC”) implemented ‘Round 10’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. In readiness for the economy re-opening Cambodia has been receiving vaccines through support and direct purchases from various manufacturers.

AMLO Notification Calls for Stringent Customer ID Measures and KYC Procedures from 25 September 2021 Onward

28 January 2021 saw the release of a Notification Concerning Guidelines for the Identification and Verification of Customers and Ultimate Beneficial Owners (“AMLO Notification”) by the Anti-Money Laundering Office (“AMLO”).

Vietnam Weekly Update - 8 November 2021

Cập Nhật Hàng Tuần Việt Nam - 08 Thang 11 2021

In this week’s legal update: 1) Detailed regulations on several solutions to support businesses and people affected by the Covid-19 epidemic, 2) The application of "Vaccine Passport" and measures to create favorable conditions for foreign experts to enter for economic development purposes; and 3) Deposit level for travel service business.

Laos, Cryptocurrency Mining, and Vietnam

In September, the government of Laos authorized six companies to mine and trade cryptocurrency. This last week they announced that as part of the country's expansion into the cryptocurrency markets, they anticipate to include nearly 200 million USD in their 2022 national budget from Bitcoin mining.

Vietnam Updates from ADK - Vol. 24: The Scheme on development of non-cash payment in Vietnam during 2021 – 2025 was officially approved

In this update: 1. The Scheme on development of non-cash payment in Vietnam during 2021 – 2025 was officially approved, 2. Discount 80% of deposit for travel service providers until the end of 2023, 3. List of national projects calling for foreign investment in the period 2021-2025.

Vietnam Updates from ADK - Vol. 24: The Scheme on development of non-cash payment in Vietnam during 2021 – 2025 was officially approved

In this update: 1. The Scheme on development of non-cash payment in Vietnam during 2021 – 2025 was officially approved, 2. Discount 80% of deposit for travel service providers until the end of 2023, 3. List of national projects calling for foreign investment in the period 2021-2025.

Decree 92/2021 guiding the implementation of Resolution 406 on tax support measures

Following Resolution 406 dated 19 October setting out some measures to help taxpayers affected by COVID 19, the Government has now released Decree 92/2021 guiding the implementation of Resolution 406.

Circular 80/2021 guiding the implementation of the Law on tax admin 2019 and Decree 126/2020

On 29 September 2021, the Ministry of Finance released Circular 80/2021 providing guidance on a number of articles in the Law on Tax Admin 2019 and Decree 126/2020. The new Circular will be effective from 1 January 2022 and replaces a number of existing regulations, including Circular 156/2013.

Vietnam Weekly Update - 1 November 2021

ập Nhật Hàng Tuần Việt Nam - 01 Thang 11 2021

In this week’s Legal Update: 1) Guidance on the tax declaration of branches located in a different province from the head office; 2) Tax incentive policies; and 3) The entrustment of importing goods for export production.

New public disclosure rules in Vietnam stock markets

Following the issuance of the new Securities Law 2019, in November 2020, the Ministry of Finance issued Circular 96/2020 guiding on disclosure of information on securities market (Circular 96/2020) with effect from 1 January 2021.