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EY Vietnam Tax Update - September 2020

September Tax Update highlighting the following key points: 1) Reduction of land rental payable for 2020 for COVID-19 affected persons, 2) New development on the corporate income tax (CIT) incentives offered to social entities, 3) Amended guidance on the tax treatment of COVID-19 related payments made for employees, 4) Suspension of the Social Insurance contributions (retirement and death) by companies affected by COVID-19 extended to December 2020, and 5) Employees are accountable for a wrong declaration of dependents or a wrong authorization for personal income tax (PIT) finalization.

RHTLaw Vietnam September Newsletter: Occupational Health & Safety; Anti-Spam; and National Innovation Centre

The September newsletter introduces updates of the following legal regulations: 1) Decree 88/2020/ND-CP regarding Occupational Health and Safety on Compulsory Insurance for Occupational Accidents and Occupational Diseases, 2) Decree 91/2020/ND-CP Regulating Anti-Spam Text Messages, Emails and Calls, and 3) Decree 94/2020/ND-CP Regulating Preferential Regime and Policies Applicable to the National Innovation Centre.

Investing via convertible debt instruments in Vietnam

COVID-19 and its impact on the economy. In addition to having to be more rigorous in their investment assessment and decisions, investors must now look beyond traditional equity investment for structures that could provide them with more flexibility in a volatile market, such as convertible debt instruments. A hybrid debt with a conversion option may provide investors with a higher chance to recover their investment in a downside situation, while giving them an option to convert into equity once the economy is back on track. Convertible loan (CL) and convertible bond (CB) have been the two convertible instruments most commonly used by foreign investors in Vietnam. In this Insight, we look at the pros and cons of convertible debt instruments compared to traditional equity investment, the availability of these instruments to foreign investors and a comparison between CL and CB.

New Tax Administration Rules and E-Commerce Business in Vietnam

EY Vietnam Tax Update - Customs - August 2020

This Tax update - Customs - covers the key points as follows: 1) Action plan for the implementation of the Customs Mutual Assistance Agreement (CMAA) between Vietnam and the United States of America (USA), 2) The European Commission approves an extension for Registered Exporter System (REX) registration, under the Generalized Scheme of Preferences (GSP) for Vietnam until 31 December 2020, 3) Interaction between the application of the GSP and the EU – Vietnam Free Trade Agreement (EVFTA), 4) Some notable official guidelines from the General Department of Customs (GDC).

Update On New Regulations And Important Tax Policies - August 2020

In this month's Tax Newsletter: 1) Resolution on reducing 30% of CIT payable in 2020, 2) Law on Investment 2020, 3) Law on Enterprise 2020 Circular on the identification of software product production, 4) Official Letter on several contents of Decree No. 68/2020/ND-CP on interest expenses of enterprises, 5) Official Letter responding to EUROCHAM on PIT for visa and temporary residence card application expense, 6) Official Letter on PIT of income from gifts of employees.

Additional requirements for entry approval to Vietnam during COVID-19

In this NewsBrief, PwC Vietnam would like to update readers on the additional requirements when requesting entry approval to Vietnam for their employees. Interested in this NewsBrief? Download its full version here Write Would you like to stay abreast of tax updates? Subscribe to our NewsBrief today! Get in touch

Vietnam's Amended Law on Enterprises – Top 10 Changes You Need To Know

In addition to the amended Law on Investment which sets out various changes in the legal framework on foreign investment, on 17 June 2020, the National Assembly of Vietnam passed the amended Law on Enterprises (Amended LOE) which will replace the current Law on Enterprises (Current LOE) from 1 January 2021. The Amended LOE represents a step in the right direction, introducing various welcome changes and clarifying a number of issues under the Current LOE with the aim of creating a more transparent environment and streamlined process for operation of enterprises in Vietnam.

Value of Innovation: Unlocking the Potential of the Innovative Pharmaceutical Industry in Vietnam

KPMG’s “Value of Innovation” report examines Vietnam’s sector and socioeconomic ambitions, and measures growth scenarios based on key assumptions. These scenarios are informed by peer-market case studies, which create development timelines that Vietnam policymakers can study to inform policy priorities that will unlock potential value.

RHTLaw Vietnam August 2020 Newsletter

Our Legal Updates for the month of August 2020 cover the following new legal regulations for your reference: (1) Resolution No. 116/2020/QH14 dated 19 June 2020 on Reduction of Payable Corporate Income Tax in 2020 for Enterprises, Cooperatives, Professional Entities and Other Organizations; and (2) Decree No. 81/2020/ND-CP dated 9 July 2020 on Amendments and Supplements to Decree No. 163/2018/ND-CP Regarding Issuance of Corporate Bonds.

EY Vietnam Tax Update - August 2020

August 2020 Tax Update highlights the following key points: 1) New regulations on the identifying companies engaged in software production, 2) Reduction of Corporate Income Tax (CIT) payable for 2020, 3) Official letter providing guidance on the implementation of Decree 68, 4) Obligation of companies to contribute to the Trade Union (TU) fund for expatriate employees who are entitled to compulsory social insurance (SI) in Vietnam, 5) Conditions for foreign experts returning to Vietnam after 5 August 2020.

Some New Key Points of The New Vietnam Investment Law 2020

The National Assembly of Vietnam passed a new Investment Law on 17 June 2020 which will become effective on 1 January 2021 (LOI 2020) and replace the current Investment Law 2014 (LOI 2014). In this briefing, we briefly discuss some new key points of LOI 2020.

EY Vietnam Tax Update - Customs - July 2020

This Tax alert covers the following key points: 1) Decree 57/2020/ND-CP providing new export-import tariffs, 2) Circular 47/2020/TT-BTC stipulating the timeline and form of submission of Certificate of Origin for imported goods during the COVID-19 pandemic, 3) Circular 11/2020/TT-BCT providing guidance on the Rules of Origin under the EU – Vietnam Free Trade Agreement, 4) Approval of the scheme of re-usage of single time customs valuation consultation results for subsequent shipments, 5) Draft Decree on penalties for administrative violations, and enforcement of customs decision, 6) Some official letters from the General Department of Customs, 7) Late payment interest at the rate of 0.03%/day, and more.

Corporate Insolvency Regime in the ASEAN Region – Focus on Cambodia, Lao PDR & Vietnam

Part of our series on Corporate Insolvency Regimes in consideration of the COVID-19 outbreak in Southeast Asian countries, with this volume covering Cambodia, Lao PDR and Vietnam.

RHTLaw Vietnam July Newsletter: Laws on Investment and Enterprises - Updates and Key Considerations

The July Newsletter highlights new contents of the following two Laws both of which will come into effect from 1 January 2021: (1) Law No. 61/2020/QH14 dated 17 June 2020 on Investment; and (2) Law No. 59/2020/QH14 dated 17 June 2020 on Enterprises.

Toksave - Allens PNG Monthly Regulatory Update - July 2020

In this update: DataCo PNG Limited has completed laying the domestic infrastructure for fibre optic cables in PNG; ICCC has completed the public consultation process for Link PNG Limited's proposed acquisition of shares in PNG Air Limited; Eastern highlands provincial government undertakes K45billion agriculture and livestock project; Department of labour issues new fees and charges under its legislation; and State of emergency forces companies to close their sites and lay off staff.

EY Vietnam Tax Update - July 2020

July 2020 Tax Update highlights the following key points: 1) Tax treatment of COVID-19 related payments made for employees, 2) Ministry of Finance’s responses to certain petitions from enterprises at the Vietnam Business Forum, 3) Employer’s contribution to Social Insurance Fund for occupational diseases and accident, 4) Application of the new family relief from the tax reporting for July 2020 or Quarter 3/2020, 5) Personal income tax (PIT) treatment of visa and temporary resident card expenses for expatriate employees, working in Vietnam, and 6) PIT treatment of employee’s compulsory contribution to Disaster prevention fund.

EY Tax Alert - Transfer Pricing - July 2020

July 2020 Tax Alert – Transfer Pricing highlights the following key points: 1) Amendment to the loan interest deductibility cap under Decree 68/2020/ND-CP dated 24 June 2020, 2) Proposed draft Decree replacing Decree 20/2017/ND-CP on Tax Administration for companies having transactions with related parties.

Amended Investment Law – major shift in Vietnam's approach to foreign investment

The National Assembly of Vietnam passed a series of key laws on 17 June 2020 with a number of important developments aimed at boosting the country's socio-economic development, particularly in light of post-pandemic economic recovery. In this Insight we examine the key changes under the amended 'Law on Investment' and their implications for foreign investors. Over the coming weeks, we will provide further insights on the key developments relating to enterprise and PPP laws.

New Law on Enterprises 2020 for Companies in Vietnam

The Enterprise Law 2020 was issued just four years after the Enterprise Law 2014 came into effect. So, in just 20 years Vietnam already has four different versions of the Law on Enterprises. This article presents our comments on changes in the Enterprise Law 2020.