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Vietnam: Legal Update on the Draft Decree Guiding the Implementation of the Data Law

On 30 November 2024, the Data Law was officially passed and will come into effect on 01 July 2025. In this legal update, we will highlight some major points under the Draft Decree that, from our point of view, guide the provisions of the Data Law that impact various stakeholders.

Vietnam: Tax due diligence critical for buyers and vendors

As dealmaking in Vietnam continues to evolve in complexity, effective tax due diligence has emerged as a critical factor in shaping successful transactions.

APAC: Corporate secretarial newsletter 2024 vol.2

In this newsletter: Singapore - Updates on Corporate Service Providers Bill, Malaysia - Submission of Beneficial Ownership Information and Practice Directive No. 9/2024, China - Measures to further optimize the management of foreign exchange business were announced, and others.

Cambodia: Transactions Related to Crypto Assets

On 26 December 2024, the National Bank of Cambodia (NBC) issued a Prakas No. B7-024-735 Prokor on Transaction Related to Cryptoassets. This Prakas is the country’s groundbreaking regulation, which has the purpose of managing the transactions and business activities related to cryptoassets with respect to the Law on Banking and Financial Institutions.

Vietnam: Amendment to Law on Pharmacy - A Leap in the Legal Framework

By way of amending the current Law on Pharmacy No. 105/2016/QH13, Vietnam is considered to have made a significant step forward in perfecting the legislation governing the online trading of pharmaceuticals. Law No. 44/2024/QH15 amending the current Law on Pharmacy will take effect on 1 July 2025.

Vietnam: Legal Update on Regulations regulating School Bus Service

Since 01 January 2025, several legislative documents that may govern the school bus service have come into effect, including Law No. 35/2024/QH15, Decree No. 158/2024/ND-CP, Law No. 36/2024/QH15 and Decree 151/2024/ND-CP. In this legal update, we will highlight a number of remarkable requirements for the schools’ attention regarding the performance of the school bus service under the updated laws of Vietnam.

Vietnam: Tax Implications for Foreign Contractors under EPC Contracts in Vietnam

Under the regulation of Vietnamese laws, in case the contractor performs EPC Contract as a foreign contractor, there will be tax liability for doing business or earning income in Vietnam when signing a contract with a Vietnamese partner. Within the scope of this article, we will provide a legal summary on tax implications of the Contractor during performing the EPC Contract in accordance with the laws of Vietnam.

Vietnam: Transfer of wind power projects to foreign businesses

This article covers: Current status of wind power project transfers, reasons for transferring, transferring risks, and solutions regarding limitations on transferring wind power projects.

Vietnam: Decree 182 on Investment Support Fund

Nghị định 182/2024/NĐ-CP về thành lập, quản lý và sử dụng Quỹ Hỗ trợ Đầu tư

To aid in applying the Global Minimum Tax from 1 January 2024, the Government issued Decree 182 in December 2024 on the establishment, management, and use of the Investment Support Fund to stabilize the investment environment, encourage and attract strategic investors, and support enterprises in specific prioritized fields.

Vietnam: Electronic labour contracts and related legal issues in Vietnam

Nowadays, when technology is developing rapidly, transactions are established through electronic methods are not too strange. Accordingly, Labour Code 2019 has initially recognized the legal validity of an electronic labour contract, however, in reality, there are not many labour contracts concluded in this form. While there are some benefits of the electronic labour contract, it also has several problems.

Vietnam: Legal Update on Vietnam’s Data Law

The Data Law is set to provide the fundamental principles, policies, and regulations governing digital data. It establishes the roles and responsibilities of various stakeholders, including government agencies, private organisations, and individuals. In this legal update, we will highlight some key provisions under the Data Law that, from our point of view, impact various stakeholders.

Vietnam: Changes in development mechanism of self-consumed rooftop solar power

This legal update analyses new opportunities for RTS power developers under Decree 135 through their services as contractors for power consumers, besides their role as power sellers in power generation and sale under the DPPA mechanism.

Vietnam: Recent VAT Developments in Vietnam

The National Assembly of Vietnam has approved a new Law on Value Added Tax, which will take effect on July 1, 2025. Additionally, a resolution has been passed to extend the reduced VAT rate of 8% for the first half of 2025, covering the period from January 1 to June 30, 2025.

Myanmar: Significant Updates on Foreign Currency Tax Payments - New Procedures for Import/Export Taxes and Personal Income Tax in Myanmar

In December 2024, the Ministry of Planning and Finance and the Internal Revenue Department introduced two significant updates concerning foreign currency tax payments. These updates pertain to the use of Market Trading Rate for Import/Export Customs Duties and Tax Payments starting 1 January 2025, and the tax payment currency for individuals receiving salaries in Myanmar Kyats (“MMK”) under foreign currency contracts.

Vietnam: New Amendments to Law on Investment

On November 29, 2024, the National Assembly enacted the Law amending several articles of the Law on Planning, the Law on Investment, the Law on Investment under the Public-Private Partnership Model, and the Law on Bidding.

Vietnam: New Regulations on Environmental Protection Fees on Exhaust Gas Emissions have been Promulgated

Decree No. 153/2024/ND-CP, which governs the environmental protection fees on exhaust gas emissions, was issued by the Government of Vietnam on November 21, 2024. This new regulation will take effect from January 5, 2025. Emission-discharging facilities in all parts of Vietnam will be impacted by this law.

Vietnam: Decree 180 On Reduction Of % Value-Added Tax In The First Half of 2025

On 30 November 2024, the National Assembly has passed Resolution No. 174/2024/QH15, covering in which the provision on continuing to reduce the value-added tax rate by 2% for groups of goods and services specified in Resolution No. 43/2022/QH15 during the period from 1 January 2025 to 30 June 2025.

Vietnam: The board’s role within merger and acquisition goals

Vietnam’s M&A market recorded a deal value of $3.2 billion in the first nine months of 2024, representing less than 50 per cent of the total for 2023. However, it's too early to conclude a decline for the full year 2024. Compared to the same period in 2023, this figure marks a 45 per cent increase, signaling a potential for dealmakers to drive momentum in the fourth quarter.

Vietnam: Implementation Plan for the National Power Development Plan VIII of Vietnam

Following the issuance of the National Power Development Plan VIII (PDP8) on 15 May 2023, the Vietnam Prime Minister, on 01 April 2024, approved Decision No. 262/QD-TTg with immediate effect, laying down the Implementation Plan for the PDP8 (Implementation Plan). This is the first in the 2-plan proposal from MOIT to the Prime Minister for PDP8

Myanmar: The Role of Consumer Protection and Competition in Myanmar

The introduction of the Competition Law in 2015 and the Consumer Protection Law in 2019, along with their supporting rules and notifications, has laid the foundation for a more structured and fair business environment. This article provides an analysis of the key developments in both laws and regulations.