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Vietnam Weekly Update - 12 July 2021

Cập Nhật Hàng Tuần Việt Nam - 12 Thang 7 2021

In this week’s Legal Update: CIT incentives for investment projects, The obligations of organizations and individuals in foreign investment activities on the Vietnamese stock market, and Policies for supporting employers and employees facing difficulties due to the COVID-19. pandemic.

Vietnam: Conditions for enterprises to get loans to pay furlough wages and loan for production recovery

Resolution 68/NQ-CP stipulating a number of policies to support employees and employers facing difficulties due to the Covid-19 pandemic takes effect on 1st July, 2021, and The rate of payment of compulsory social insurance to the fund of occupational accidents and diseases is 0% until June 30th, 2022.

Criteria for Classifying State-Owned enterprises Undergoing Restructuring in 2021-2025 Under Decision 22/2021/QĐ-TTg

Decision 22/2021/QĐ-TTg provides the criteria for classifying the wholly State-owned enterprises (SEs), partially State-owned enterprises (SOEs) undergoing restructuring in 2021-2025.

Cambodia: Additional Measures to Support Private Sector Workers & Revive the Post-COVID-19 Economy (Round 9)

On 29 June 2021, the Royal Government of Cambodia (“RGC”) implemented ‘Round 9’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia.

Vietnam Weekly Update - 5 July 2021

Cập Nhật Hàng Tuần Việt Nam - 5 Thang 7 2021

In this week’s Legal Update: Amended, supplemented administrative procedures in the field of judicial records, Regulation on implementation of legal responses of the Ministry of Transport in legal support for small and medium enterprises; and Execution of the Advance Pricing Agreement (APA) mechanism used in tax administration for enterprises with related-party transactions.

RHTLaw Vietnam: Covid-19 Updates - July 2021

In these Legal Updates are notable supportive measures applied to the enterprises affected by Covid – 19 in terms of tax and employment areas including: i) Decree No. 44/2021/ND-CP, ii) Decree No. 52/2021/ND-CP (iii) Circular No. 41/2021/TT-BTC and (iv) Official Letter No. 2059/TLD.

Vietnam - Covid19: A number of fees and charges will be reduced from 1st July 2021, due to difficulties caused by the Covid-19 epidemic

In this update: How to apply the APA mechanism to enterprises with related-party transactions; Covid19 - A number of fees and charges will be reduced from 1st July 2021, due to difficulties caused by the Covid-19.

Vietnam Legal Updates, Vol. 7, July 2021: Covid support for employees and employers, and Guidance on the initial sale of shares for SOEs and limited liability companies

In this legal update: Support employees and employers during Covid; and Guidance on the initial sale of shares and the management and use of proceeds from equitization of State-owned enterprises and one-member limited liability companies,

The Vietnam National Innovation Center

The purpose of the Vietnam National Innovation Center, approved but not yet built, is to provide innovative startups in Vietnam with a launching pad and with incentives and support to help build the innovation ecosystem and encourage the development of creative and technology-related startups.

New transfer pricing regulations on APAs released

On 18 June, the Ministry of Finance issued Circular 45/2021/TT-BTC, setting out new rules on Advance Pricing Agreements in Vietnam. Circular 45 takes effect from 3 August, and replaces the existing APA Circular 201 issued in 2013.

New Circular clarifying conditions to be entitled to 5% VAT rate on medical equipment

In an effort to remove the uncertainty with respect to the requirement for a confirmation from the Ministry of Health in order to apply 5% VAT rate to medical equipment, on 11 June, the Ministry of Finance issued a new circular. The new Circular 43 will take effect from 1 August 2021.

Cambodia: Requirement to Submit Financial Reports for Independent Audits

On 25 May 2021 the National Accounting Council (“NAC”) issued a reminder notification on obligations to submit 2020 annual financial statements for independent audits and to submit these audited financial statements to the Accounting and Auditing Regulator (“ACAR”).

ADK Vietnam Legal Newsletter June 2021

In this newsletter: Important legal documents which take effect from July 2021, and new Covid regulations.

Vietnam Legal Updates Vol. 6, June 2021: Prior Agreement on Taxable Price Determination (APA) method in tax administration; 30 types of Fees reduced to support Covid-19 difficulties

Vietnam Legal Updates Vol. 6, June 2021: Guidance on the application of the Prior Agreement on Taxable Price Determination (APA) method in tax administration to enterprises having associated transactions; 30 types of Fees and charges are reduced to support difficulties due to the impact of the Covid 19 pandemic.

Decree 31/2021/ND-CP: Forthcoming Moves of New Investment Law

On 26 March 2021, the Vietnamese Government issued Decree No. 31/2021/ND-CP (“Decree 31”) providing guidance on the Law on Investment No. 61/2020/QH14 (“LOI 2020”).

Vietnam Weekly Update - 28 June 2021

Cập Nhật Hàng Tuần Việt Nam - 28 Thang 6 2021

In this week’s Legal Update: Payment by e-wallet; Warning about scams and fake vaccinations against COVID-19; and Guiding on problems in setting up risk provisions for special corporate.

Thai Government Considers Tax Incentives, Long Term Visas, Property Rights and More to Entice Wealthy Foreign Nationals to Thailand

According to an anonymous source, a ‘Centre for Economic Situation Administration’ (“CESA”) meeting chaired by Prime Minister Gen Prayut Chan-o-cha was held on Friday 4 June that approved (in-principle) a set of proposed stimulus measures aimed at encouraging wealthy expatriates to Thailand.

Vietnam: Law on Residence 2020 takes effect from 1st July 2021

In this update: Law on Residence 2020 takes effect from 1st July 2021, and Subjects being eligible to purchase shares upon equitization of SOEs.

Cybersecurity for Online Payment Services in Vietnam

Intermediary payment services (IPS) are regulated and licensed by the State Bank of Vietnam. In providing these services there are additional responsibilities for the protection of safety and confidentiality of data and information. These provisions are outlined in Circular 35/2016/TT-NHNN dated 29 December 2016 (Circular 35).

Vietnam Legal Updates Vol. 5, June 2021: Enterprises production and trading services and goods may continue to operate during the time of social distancing; Proposing business support policies in 2021; UK - Vietnam FTA.

In this legal update: Enterprises/establishments production and trading essential services and goods may continue to operate during the time of social distancing (Official Dispatch No. 3786/SYT-NVY), Various business support policies, and Regulations on Rules of Origin of Goods in The Vietnam - UK FTA.