On 16 May 2023 the Royal Kram promulgated the New Law on Taxation. The New Law on Taxation is not a complete overhaul of the previous law, however it is designed to improve, facilitate, fill gaps and improve the consistency of the previous law by compiling a set of laws related to tax, international tax and tax practices.
In this newsletter: New regulations on credit institutions, the deadline for reporting on foreign labour and other legal instruments.
On 23 August 2023, the State Bank of Vietnam issued Circular No. 10/2023/TTNHNN suspending the enforcement of certain provisions of Circular No. 39/2016/TT-NHNN, which was itself amended and supplemented by Circular No. 06/2023/TT-NHNN (Circular 06). Accordingly, the SBV has suspended the enforcement of clauses 8, 9, and 10 of article 8 of Circular 06 concerning non-eligible loan capital.
The Prakas on Unfair Contract Clauses (UCC), promulgated on March 01, 2022, serves as a cornerstone in the Cambodian legal framework, emphasizing the importance of "Standard Form Contracts." This legislation aims to fortify consumer rights, ensuring transparency, fairness, and protection against undue profit exploitation in contractual relationships with business operators. This article discusses the Prakas.
On 23 October 2023, the Ministry of Commerce under the State Administration Council ("SAC") issued the Copyright Registration Rules ("CRR"). With the introduction of the new Copyright Law, designed to replace the outdated Copyright Act of 1914, copyright holders can voluntarily register their copyrights per the new legislation's guidelines.
In this update: Value Added Tax, 2. Corporate Income Tax, 3. Personal Income Tax, 4. Foreign Contractor Tax, 5. Decision 25/2023/QD-TTg dated 3 October 2023 of the Prime Minister on reducing land rental fee in 2023
In the face of globalisation, groups of companies operating internationally often find themselves with complex corporate structures. Therefore, intra-group restructuring may need to take place to improve administrative, operational, and economic efficiency.
After 18 years since the first Law on E-Transactions was adopted paving the way for technology development in Vietnam, the National Assembly passed the new Law on E-Transactions No. 20/2023/QH15 in June 2023. This new Law on E-Transactions will supersede the existing law from 1 July 2024 and aims at addressing inadequacies under the current legal framework and promoting digitalization in Vietnam.
On 18 September 2023, the Government promulgated Decree No. 70/2023/ND-CP which took effect on the same day. This Decree brought about a number of significant amendments to Decree No. 152/2020/ND-CP, which governed the recruitment of foreign employees in Vietnam. Please visit RHTLaw's Legal Updates here for notable details about this new Decree
This article reviews the most updated and important annual compliance obligations for enterprises in Cambodia.
The latest draft regulations dealing with allocation of sea areas for marine resource exploitation and use are of keen interest to the many potential investors in Vietnam's nascent offshore wind power industry. In this Insight, we analyse important changes to Decree 11 in relation to sea use rights.
The role of data centres has been pivotal in driving this growth, and Malaysia has become an attractive destination for global investors. In this article, we explore the themes around what makes Malaysia such an attractive destination for data centres, the driving forces behind the growth, the future of the industry, and how it aligns with the nation’s Go Green initiative.
On 28 July 2023, the State Bank of Vietnam introduced Circular No. 09/2023/TTNHNN (Circular 09), which came into force on 27 July 2023. Circular 09 guides the implementation of Vietnam's recent Law on Anti-Money Laundering, passed in 2022. This article looks at the recent legislation. AML Law). C
The Cambodian government has announced a series of significant tax incentives and reiterated that it will neither create new taxes nor increase existing ones, underscoring its commitment to economic growth and private sector collaboration. This update explains further.
Vietnam's construction, architecture, and real estate sectors are poised for transformation with the implementation of Decree 35/2023/ND-CP dated 20/6/2023. In this article, we delve into the key provisions of Decree 35 and their implications for the development of the construction, architecture, and real estate sectors in Vietnam.
The 2024 Cambodia foreign employee quota will close on Thursday, 30 November 2023. Enterprises employing or intending to employ foreign employees in 2024 are required to apply for a foreign employee quota from the Ministry of Labour and Vocational Training.
In this newsletter, Grant Thornton Vietnam would like to update readers on the relevant legal policies and guidelines in the field of Social Insurance and Labor, Invoices, Land rental fee, Taxes, and Cyber Security recently issued.
Decree 13/2023 on Personal Data Protection (PDPD) has resulted in questions among legal professionals in Vietnam as well as the cold hard realities of the difficulties in fulfilling even the basic administrative procedures under PDPD. This update discusses these difficulties.
This update discusses the issues on whether the legal representative can re-authorise his/her signing authority to another person to sign an agreement approved by the Board if he/she is authorised by the Board to sign this agreement.
In practice, annually, the State Bank of Vietnam allocates annual credit growth limits to each credit institution including the finance company. In September 2022, it was reported that the SBV should use its ranking system to decide to allocate credit growth limits to each credit institution.
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
All resources are linked to related content with each link manually selected by our editorial staff.
In addition, all content can be found using our advanced search engine, to improve the speed and effectiveness of your research.
We work with many local and international firms on an ongoing basis to develop and maintain the service.