Updates
Vietnam: First Personal Data Protection Decree in Vietnam
- Indochine Counsel
After more than two years since the last draft was published for public comments on 9 February 2021 which draw hot debates among agencies and businesses, the Government of Vietnam finally issued Decree No. 13/2023/ND-CP on personal data protection on 17 April 2023.
Vietnam: The Ministry of Planning and Investment issues new regulations on business registration
- ADK Lawyers
On April 18, 2023, The Ministry of Planning and Investment issued Circular No. 02/2023/TT-BKHDT on amendment to circular no. 01/2021/TT-BKHDT dated march 16, 2021 of the minister of planning and investment guiding enterprise registration.
Vietnam: New regulations on adjustment of unit prices and construction contract prices in Circular02/2023/TT-BXD.
- ADK Lawyers
On March 03, 2023, the Ministry of Construction issues Circular No. 02/2023/TT-BXD on guiding certain contents of construction contracts.
Vietnam: The Government issues a Decree on protection of personal data
- ADK Lawyers
On 17 April 2023, the Government issued Decree No. 13/2023/ND-CP on protection of personal data. Accordingly, Decree 13/2023/ND-CP consists of 44 articles and 4 chapters, which specify measures and conditions to ensure the protection of personal data.
Cambodia: Official Fees for Issuance of Compliance Certificates on Commercial Advertisements
- DFDL Cambodia
On 29 March 2023, the Ministry of Economy and Finance (“MEF”), in cooperation with the Ministry of Commerce, issued a new regulation regarding the Official Fees for Issuance of Compliance Certificates for Commercial Advertisements on Goods and/or Services in Cambodia.
Vietnam Tax Newsletter From Grant Thornton | April 2023
- Grant Thornton Vietnam
In this newsletter: Doc 2614/VPCP-KTTH Re Proposed Reduction of VAT, Decree 12/2023/ND-CP re the extension of tax payment and land rent in 2023, Decision 01/2023/QD-TTg on the reduction of land rent and water surface rent in 2022, 4. Decision \40/QD-BTC on administrative procedures in the field of tax and customs and others. 5. Decision No. 490/QD-BHXH amending and supplementing a number of articles of the insurance collection process 6. Circular 02/2023/TT-BYT amending and supplementing a number of articles of Circular 15/2016/TT-BYT regulating occupational diseases entitled to social insurance
Vietnam: Decree No. 12/2023/ND-CP extending deadline for tax payments and land rental fees in 2023
- Mazars Vietnam
On 14 April 2023, the Government released Decree No. 12/2023/ND-CP regarding the extension of value added tax (“VAT”), corporate income tax, personal income tax and land rental fee applicable for the 2023 tax year. The Decree is effective from the releasing date to 31 December 2023 with notable points as follows.
Green credit for solar power systems in Vietnam: what should be noted?
- BLawyers Vietnam
Green Credit is becoming more common through credit packages for energy-saving, renewable-energy and clean-technology projects with the purpose of economic growth associated with environmental protection. In this article, BLawyers Vietnam explains what green credit is, and how it is used for solar power systems in Vietnam.
Vietnam: Decree 13/2023/ND-CP on Personal Data Protection
- PwC Legal Vietnam
On 17 April the Government issued a Decree on Personal Data Protection which will come into force on 1 July 2023. Prior to that date all businesses (with the exception of some small and medium entities) should perform a gap analysis between the current state of the data protection measures and the new requirements.
Vietnam: Official regulations on privacy data protection
- Apolat Legal
Decree No. 13/2023/ND-CP on the protection of personal data will help create a legal framework so that the competent authorities can manage and review compliance with regulations on personal data protection, and increase the rights of data subjects and other provisions detailed in the Decree.
Vietnam: Official regulations on granting certificates of ownership in Condotel construction
- Apolat Legal
The Government has just issued Decree 10/2023/ND-CP amending and supplementing several articles to guide the implementation of articles of the Land Code, especially the official regulations on certificates ownership of the Condotel project, will take effect from 20 May 2023, including specific changes.
Cambodia: ACAR Cracks Down on Non-Compliant Enterprises
- DFDL Cambodia
On the 5th of April 2023 the Accounting and Auditing Regulator (“ACAR”) issued Notification 0013/23. ACAR/N reminding enterprise owners and directors of non-profit organisations of their obligation to submit, via the ACAR e-filing system, their annual financial statements for the 2022 financial year to the ACAR by the required due date.
Vietnam: Decision on new ceiling electricity price mechanism for transitional renewable energy projects
- Lexcomm Vietnam LLC
On 07 January 2023, the Ministry of Industry and Trade (MOIT) issued Decision No. 21/2023/QD-BCT (Decision 21) on the official power price framework for the transitional renewable energy (RE) projects. In this legal update, we will highlight several remarkable information for the power project investors about the new power price framework.
Vietnam: Duty-Driven Duties
- DFDL Vietnam
The Vietnamese Government issued the first-ever comprehensive legal framework on personal data for the country in the form of Decree No. 13/2023/ND-CP dated 17 April 2023, on personal data protection (“DPD”).
Vietnam: Decree 12/2023 extending deadline for tax payments and land rental fee in 2023
- PwC Tax & Advisory Vietnam
On 14 April 2023, the Government released Decree 12 regarding the extension of deadlines for payments of taxes and land rental fee applicable for the 2023 tax year. The Decree took effect from the signing date to 31 December 2023.
Cambodia: Capital Gains Tax Implementation Further Delayed
- DFDL Cambodia
In a press release issued on the 12 of April 2023 the Economic and Financial Policy Committee (the Committee) of the Royal Government of Cambodia provided the following updates with respect to the support of Borey Real Estate Developers in Cambodia.
Cambodia: Food Hygiene in Factories, Enterprises and Handicrafts and Restaurants
- DFDL Cambodia
On 21 November 2022, the Ministry of Industry, Science, Technology and Innovation (“MISTI”) issued Prakas 252 on the Implementation of General Principles of Food Hygiene in Factories, Enterprises and Handicrafts (“Prakas 252”) to establish standard requirements for food factories, enterprises and handicrafts in Cambodia.
Vietnam signed the MAAC – key milestone in international cooperation
- PwC Tax & Advisory Vietnam
On 22 March, Vietnam signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, becoming the 147th country to join the Convention. The Convention needs to be ratified before coming into force.
Myanmar: Further Extension of the Amended Formula for Calculating Liquidity Ratio
- DFDL Myanmar
The Central Bank of Myanmar published Directive No. 8/2023 on 24 March 2023 regarding further extension of the amended formula for calculating the liquidity ratio of banks in Myanmar.
Corporate Sustainability Reporting Directive (CSRD) - a changing EU regulation
- Grant Thornton Vietnam
The Corporate Sustainability Reporting Directive (“CSRD”) entered into force on 5 January 2023 which revises the 2014 Non-Financial Reporting Directive (NFRD). Non-EU companies that operate in the EU may also fall under the CSRD scope, regardless of whether they are listed or not.
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