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New Labour Code

A new Labour Code No. 45/2019/QH14 was recently passed by the National Assembly on 20 November 2019 and will come into effect on 1 January 2021 (“New Labour Code”). There are some fundamental changes with respect to overtime, retirement ages, workers’ representative organisations, dialogue at the workplace, collective bargaining, labour contracting, labour discipline, and employment of foreigners.

Amended Law on immigration and residence of foreigners in Vietnam

The National Assembly has recently promulgated the Amended Law on Immigration and Residence of Foreigners in Vietnam through Law No. 51/2019/QH14 dated 25 November 2019 which will come into effect on 01 July 2020 (“Amended Immigration Law”). Some important changes are discussed here.

Tax finalisation and profit remittance abroad

PwC Vietnam Newsletter - Q4 2019

In this newsletter: New laws and regulations coming into effect, Various draft regulations were issued in the last quarter of 2019, Some key tax and customs rulings issued in Quarter 4, 2019, and PwC NewsBriefs issued in Quarter 4, 2019.

Intellectual Property and Construction – Issues for Consideration at Board Level

There are, essentially, four main types of intellectual property capable of protection: trademarks, copyright, patents and industrial designs. This article aims to exemplify how each of these four main types of IP may be relevant in the property and construction sector in Cambodia.

New Labour Code

The National Assembly ratified the new Labour Code No. 45/2019/QH14 on 20 November 2019 to replace the current Labour Code. The new Labour Code has 17 chapters and 220 articles and will come into effect next year.

New Vietnamese Labour Code 2019

On 20 November 2019, the National Assembly of Vietnam adopted the new Labor Code to replace the Labor Code 2012. The Labor Code 2019 will come into effect from 1 January 2021. This article, a detailed table, cover notable points of the Labor Code 2019 in comparison with the Labor Code 2012.

Update On New Regulations And Important Tax Policies - January 2020

In this newsletter: Regional minimum wages in 2020 increased, Letter No. 4178/TCT-CS re contents of Circular No. 68/2019/TT-BTC, Letter No. 4707/TCT-CS on compulsory use of new electronic invoices, Letter No. 4641/TCT-DNNCN on Personal Income Tax for overtime salary, Letter No. 4593/TCT-KK on declaration of exported goods, Letter No. 3341/BCA-V03 on validity of Temporary Residence Card of foreign workers in case of merger.

EY Vietnam Tax Update - December 2019

December 2019 Tax Update highlights: 1) Draft decree re amendments to Clause 3, Article 8 of Decree 20/2017/ND-CP on transfer pricing, 2) Decree 85/2019/ND-CP dated 14 November 2019 on guidance on handling administrative procedures on National and ASEAN Single Window. 3) Tax treatment of imported goods processed by sub-contractors 4) Tax treatment of imported materials which are processed by foreign processors.

Structure For “Selling” Off-Plan Apartments At Pre-Foundation Stage In Vietnam

Under Vietnamese law, a housing developer (Developer) is not allowed to sell apartments formed in the future (off-plan apartment) (căn hộ hình thành trong tương lai) before completing construction of foundation of the apartment building where such off-plan apartment located (Pre-Foundation Stage) (Article 55 of Law on Real Estate Business 2014). However, in practice, by engaging an independent entity to act as an agency/broker (Agency), it seems that many Developers have “overcome” this limitation. This diagram and table (click Here to download) demonstrate transaction structure currently employed by some Developers to “sell” off-plan apartments at Pre-Foundation Stage and discuss relevant pros and cons.

New Vietnamese Securities Law 2019

On 26 November 2019, the National Assembly of Vietnam adopted the new Law on Securities (Securities Law 2019) to replace the Securities Law 2006. The Securities Law 2019 will come into effect from 1 January 2021. Here (click to download) are some notable points of the Securities Law 2019. This article is written by Nguyen Bich Ngoc.

Grant Thornton Tax Newsletter (Quarter 3/2019)

In this edition, we look at: 1) E-commerce and e-invoice developments, 2) Other legal, customs and tax developments, 3) Some interesting rulings issued in Quarter 3, 2019 and 4) PwC NewsBriefs issued in Quarter 3, 2019

PwC Tax newsletter (Quarter 3/2019)

In this edition, we look at: 1) E-commerce and e-invoice developments, 2) Other legal, customs and tax developments, 3) Some interesting rulings issued in Quarter 3, 2019 and 4) PwC NewsBriefs issued in Quarter 3, 2019

EY Vietnam Tax Update - October 2019

The EY October tax newsletter highlights the following issues: 1) Machines and equipment may be considered as immovable property for tax treaty application purposes, 2) Current regulations are silent on carryforward of tax loss in the event of branch conversion, 3) Personal income tax treatment of airfares for expatriate employees, and 4) Conditions for claiming foreign tax credit in Vietnam.

Vietnamese Law on Consumer Protection

This piece will discuss the aspects of the LoCP that have had and will continue to have the greatest impact on manufacturers, importers and sellers. This includes prohibited conduct, agreements between sellers and consumers, general trading conditions3, extent of warranty, liability for defective products, and litigation.

Establishing a Fintech Company in Vietnam: 6 Common Questions

Peter Ziter of Russin & Vecchi discuss the key legal issues involved in establishing a fintech company in Vietnam.

New Circular on E-Invoicing

Circular 68/2019/TT-BTC guiding the implementation of Decree 119/2018/ND-CP on e-invoicing has been released. Circular 68 will take effect from 14 November.

Update on new regulations and important tax policies - October 2019

In this newsletter: 1) New Circular No. 48/2019/TT-BTC on provisions, 2) Are signing date and time compulsory item in e-invoices? 3) Foreign workers changing companies must apply for reissuance of work permits, 4) Manufactured goods for on-site export on order, are exempt from material import duty, 5) Customs inspection of norm for manufacturing export goods and processed goods, 6) Guidance on treatment of interest expenses exceeding 20% of EBITDA under Decree 20 for fiscal year ended 2017.

Instruction on Implementation of new Decrees in LAOS PDR

In this newsletter: Instruction on Implementation of the Decree on Cheque No. 01/BOL, Decree on Occupational Safety and Health No. 22/G, and the Decision on Management of Factory No. 0264/MOIC.ID.

Vietnam Corporate Governance code – Towards International Best Practices

This article provides an overview of the main content of the first Vietnam Corporate Governance (CG) Code and highlights the recommended practice for each of the 10 CG principles that businesses should aim towards.