Updates
Vietnam: Key points of Vietnam Power Development Plan VIII (PDP8)
- LNT & Partners
The Vietnam Power Development Plan VIII (PDP8) has been released. This update discusses several key takeaway points including grid development, onshore and offshore wind, solar, LNG, coal and hydropower.
Vietnam: Response to the GloBE model rules: Some key considerations for Vietnam
- EY Vietnam
Vietnam, in choosing not to introduce legislation to implement Pillar Two of the Global Anti-Base Erosion model rules (GloBE model rules), means that tax incentives provided in Vietnam may be “clawed back” in another country. EY Vietnam explains in this article.
Vietnam: Late Payment Interest: The Matrix and Some Implication to Manage the Caps
- LNT & Partners
In Vietnam, overdue payment often comes along with late payment interest (LPI). As a rule of thumb, under Articles 357 and 468 of the Civil Code 2015, an obligor failing to pay timely is subject to paying LPI as agreed between the contractual parties; unless otherwise provided by other relevant laws, this LPI is capped at 20% per annum or 1.667% per month.
Vietnam Government Issues Guidance on Anti-Money Laundering
- DFDL Vietnam
The Government of Vietnam issued Decree No.19/2023/ND-CP dated 28 April 2023 (“Decree 19”) to provide guidance for the Law on Anti-Money Laundering.
Vietnam: Renewable Energy Policy Framework
- LNT & Partners
Renewable energy policy: 1. Pillar regulators governing the process for renewable power projects, 2. Promotion measures in renewable energy for foreign investors: (1) Feed-in-Tariff & tax incentives; (2) Investment credit incentives; (3) Land incentives; (4) Incentivizing research on renewables for high-tech.
Vietnam: Development on Data Privacy Regulation of Vietnam
- Lexcomm Vietnam LLC
The long-awaited centralized regulation on data privacy has now been formally promulgated by the Government of Vietnam – under the Government Decree No. 13/2023/ND-CP on Personal Data Protection (Decree 13) on 17 April 2023.
Vietnam: Decree 10 Amending Articles of Decrees Guiding the Implementation of the Law on Land
- LNT & Partners
On April 03, 2023, the Vietnamese Government issued Decree 10, amending and supplementing some articles of decrees guiding the implementation of the Law on Land. Decree 10, taking effect from May 20, 2023, will address certain difficulties and obstacles for localities, people, and businesses.
Vietnam: New decree guiding the Intellectual Property Law on copyright and related rights
- Apolat Legal
With the risk of stolen works and copyright increasingly common, threatening IP rights in general and copyright and related rights in particular, in order to protect the rights of authors and related people, Vietnam has issued Decree 17/2023/ND-CP guiding the Intellectual Property Law on copyright and related rights.
Vietnam: Private placement and trading of privately placed bonds in domestic and international markets
- BLawyers Vietnam
The Government issued Decree No. 08/2023/ND-CP dated 05 March 2023 on several regulations on the offering and transactions of individual corporate bonds in the domestic and international markets with some notable content.
Cambodia: ACAR Filing Extended to 15 June 2023
- DFDL Cambodia
Notification 020/23 was issued by the Accounting and Auditing Regulator on the 12th of May 2023 concerning the Extension to Submit Annual Financial Statements for the 2022 financial year for Enterprises and Non-Profit Organizations that are not subject to independent financial audits.
Vietnam: Some prominent legal instruments take effect from April 2023
- ADK Lawyers
April legal instruments: 03/2023/ND-CP, 391/QD-BTC, 03/2023/TT-BCT, 25/2022/TT-BLDTBXH, 11/2022/TT-NHNN, 13/2023/TT-BTC, and 02/2023/TT-BXD.
Vietnam: Allowing electronic bank guarantees
- ADK Lawyers
On September 30, 2022, The State Bank Of Vietnam issues Circular No. 11/2022/TT-NHNN prescribing bank guarantee. Circular No. 11/2022/TT-NHNN has supplemented regulations on electronic guarantee activities, allowing credit institutions and customers to conduct banking guarantee activities by electronic method.
Vietnam: Amendment of the application dossier for VAT refund for investment projects
- ADK Lawyers
On February 28, 2023, The Ministry of Finance has issued Circular No. 13/2023/TT-BTC guiding the implementation of Decree No. 49/2022/ND-CP.
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.
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.
Navigating Vietnam’s New Anti-Money Laundering Law: Key Changes and Updates
- Indochine Counsel
On 15 November 2022, the National Assembly passed the Law on Anti-money Laundering No. 14/2022/QH15, which came into force from 1 March 2023 and replaced the Law on Anti-money Laundering 2012.
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.
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
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