In 2020, despite the global pandemic, the Vietnamese economy maintained its growth rate with an estimated GDP growth rate of 2.91% and the average CPI increased by 3.23%. Investment in Vietnam: Redrawing The Horizon looks at Vietnam for 2021 and the years ahead.
This article provides details on the tax treatment of royalties in Vietnam and the potential benefits and opportunities for foreign enterprises.
Our Vietnam Private Equity Survey 2020 has been conducted to capture the full impact of the pandemic. The first part of our report recaps the Vietnam economic outlook and the key sectors as well as the country’s private equity landscape in 2020. The second part focuses on the Value Creation Plan, a topic that has received much attention in the private equity world in recent years.
Our latest Legal Updates of February 2021 with notable regulations in relation to the following legal documents: 1. Decree No. 01/2021/ND-CP on Enterprise Registration; and 2. Decree No. 152/2020/ND-CP Regulating Foreigners Working in Vietnam and Vietnamese Working for Foreigners in Vietnam.
Recent years have seen a significant increase in the number of Vietnamese companies involved in overseas listings. Vietnam is however not widely accepted by overseas Stock Exchanges as a place of incorporation of issuer and hence direct overseas listing of VietCo may be arduous. This article discussions corporate reorganization for listing purposes.
In this tax newsletter: 1) Resolution No. 01/NQ-CP on tasks for the socio-economic development plan and State budget, 2) Decree No. 145/2020/ND-CP on implementation of the Labor Code, 3) Circular No. 105/2020/TT-BTC on tax registration, and 4) Official Letters on some Decrees issued at the end of 2020
On 25/01/2021, the Ministry of Finance issued Circular no. 07/2021/TT-BTC ("Circular 07") providing guidance on the deadline to submit Certificate of Origin (“C/O”)(1) for goods imported into Vietnam under EU-Vietnam Free Trade Agreement (“EVFTA”). The Circular takes effect from 11/03/2021.
On 30 December 2020, The Government promulgated Decree No. 152/2020/ND-CP regarding foreign employees working in Vietnam (“Decree 152”). Decree 152 is effective from 15 February 2021 and replaces Decree No. 11/2016/ND-CP (as amended by Decree No. 140/2018/ND-CP).
Topics covered in this Customs newsletter: 1) Customs taxes & valuation, 2) Certificate of Origin (C/O), 3) Customs procedure & tax policy applying to export-manufacturing, and 4) model, export-processing model and export-processing enterprises. (“EPEs”) IV. Customs specialized management requirements for import
On 14 December 2020, the Government promulgated Decree No. 145/2020/ND-CP detailing and guiding the implementation of a number of articles of the Labor Code regarding labor conditions and labor relation (“Decree 145”). Such Decree provides for labor management, labor contract, labor outsourcing, dialogue at workplace, salary, working hour & rest hour, labor discipline & material liability, female employees & gender equality, domestic worker and labor dispute.
For the upcoming 2021, we are delighted to offer this “Compliance Calendar 2021” in English and Vietnamese with the hope to help enterprises not missing any important deadlines. The issues include periodic requirements of tax and labour compliance as stipulated in the latest legal documents. Please kindly find the bilingual calendar in the Downloads section below and let us know if you have any questions.
EY Vietnam January Legal Update - Key Points: 1) Material changes made under the Amended Construction Law 2020, and 2) Notable changes relating to the Draft Decree guiding offshore investment
This tax alert highlights the following key points: 1) Tax finalization compliance work for 31 March 2021 deadline, 2) Deadlines coming-soon, 3) Plan for the coming year compliance calendar for 2021
If Vietnam hopes to continue to expand access to quality care and maintain sustainable health financing, the health system will need to find a way to provide more services, while expending fewer resources per patient. Digital health is one answer to achieving scale of access while improving clinical outcomes and maintaining costs. To do this, the government needs to expand market access and encourage international business and clinical partnerships. This document is intended as an introductory guide to Vietnam’s digital health market.
This personal tax alert highlights the following key points: 1) Critical matters for personal income tax (PIT) 2) Finalization, 3) PIT compliance calendar for year 2021.
Following adoption of the Law on Electronic Commerce in November 2019, two implementing regulations have been issued defining detailed rules and required information / documents for conducting the E-Commerce in the Kingdom of Cambodia.
With the approval from the Ministry of Finance on the Vietnam Financial Reporting Standards roadmap in Decision 345/QD/BTC, it is now essential for eligible entities to begin preparations towards International Financial Reporting Standards (IFRS) compliance, and to be open to opportunities for business transformation. This alert outlines the decision flow and recommendations for entities to determine their plans for the IFRS journey.
On 30 December 2020, the Government officially issued the long awaited Decree No.152/2020/ND-CP (“Decree 152”) providing guidance on implementation of some articles of the Labor Code No. 45/2019/ QH14 with regard to foreign workers working in Vietnam and recruitment and management of Vietnamese laborers working for foreign organsations or individuals in Vietnam. Decree 152 will take effect from 15 February 2021.
Considerations when quantifying and explaining the impact of COVID-19 to key stakeholders. Companies that made deals during uncertain times may outperform their industry peers. The view that companies should pursue acquisitions in a downturn is contrary to traditional thinking. But it’s shaped by an understanding of what propelled past M&A cycles—the historical relationship between M&A and various economic and financial drivers—and what’s different today.
The National Assembly and Government have promulgated by many policies to support the development of Information Technology (“IT”) industry in Vietnam in order to enhance the competitiveness of IT enterprises as well as the investment attraction strategy, in which the Corporate Income Tax (“CIT”) incentives policy stands out to further promote the development and application IT in Vietnam.
Important Vietnamese legal terms can be looked up, with the corresponding term in the other language presented (Vietnamese <-> English). Very helpful resource for those professionals working in both languages
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