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6 things employers cannot do towards employees during the Covid-19 pandemic

Vietnam Weekly Update - 21 June 2021

Cập Nhật Hàng Tuần Việt Nam - 21 Thang 6 2021

In this week’s Legal Update: Judicial entrustment and delivery of procedural documents overseas, Guiding on the conditions for market access by foreign investor, Guiding on the usage of invoice when changing the name of the business. organization.

SPACs in Vietnam

An SPAC is, essentially, a publicly traded holding company. It is created with the sole intention of buying other companies. Currently, there is not a single Vietnamese company listed on a foreign stock exchange. This may change soon as VinFast has announced its intentions to list in the United States.

Thailand’s SEC Cracks Down on Trading of Cryptocurrencies Such as DogeCoin and Non-Fungible Tokens

Thailand’s Securities and Exchange Commission (“SEC”) Board on 11 June 2021 approved new rules prohibiting the trading on national exchange platforms of utility tokens and certain types of ‘novelty’ cryptocurrencies such as DogeCoin, SafeMoon or MonaCoin.

Thailand’s First Initial Coin Offering Using Real Estate Backed Security Tokens Approved by the Thai Securities and Exchange Commission Expected to Raise THB 2.4 billion

On 22 May 2021, a special purpose entity set up to issue and offer Siri Hub Investment Digital Tokens to investors secured approval from the Securities and Exchange Commission for the country’s first Initial Coin Offering.

Favourable development on tax incentives for supportive industries

Decree 57/2021 on corporate income tax incentives for manufacturing of prioritised supporting industry products has been released to ensure equality for all companies involved.

Administrative Violations Involving Cultural And Advertising Activities

This update covers Decree 38 penalties and remedies applicable to notable administrative violations in the cultural and advertising field. Decree 38 was issued to provide a clearer scope of entities to which it applies and to introduce more severe penalities for certain violations.

Vietnam Weekly Update - 14 June 2021

Cập Nhật Hàng Tuần Việt Nam - 14 Thang 6 2021

In this week’s Legal Update: CIT for loan interest which is written-off and the difference due to revaluation of assets when converting enterprises, 2. Guiding on granting construction license and managing construction order, and 3. Guiding on the procedure of granting, amending Investment Registration Certificate.

Risks of signing a house and land transfer contract with a lower value than its actual one

Signing a house and land transfer contract with a lower value than the actual value is a violation of the Vietnamese law. Tuyen Pham of Blawyers explains the issues.

Favourable development on tax incentives for supportive industries

In the view of the tax authorities, projects manufacturing prioritised supporting industry products set up before 2015 are not eligible for the very favourable CIT incentives. In an effort to ensure equality for all such projects the Government has released Decree 57 on CIT incentives for such companies.

El-Salvador, Cryptocurrency, and Vietnam

El Salvador now becomes the first country in the world to make a cryptocurrency legal tender and adopt it as an official national currency, and what this means for use of Bitcoin by Vietnamese citizens.

Vietnam Weekly Update - 7 June 2021

Cập Nhật Hàng Tuần Việt Nam - 7 Thang 6 2021

In this week’s Legal Update: 1. Transferring a part of a real estate project, which has not been completed, for the continuance of construction investment; 2. VAT refund for investment projects in different provinces/cities; and 3. Construction permit for makeshift works.

New Online Advertising Restrictions in Vietnam

At the end of March, the Government issued a decree amending administrative penalties for organizations involved in media business activities including advertising. The decree covers things from newspapers to online advertising and includes three provisions that are of concern regarding online advertising in Vietnam.

Official Fees on E-Commerce Permits and Licenses

The Cambodian Ministry of Commerce issued a new announcement on the Granting of E-Commerce Permits and Licenses on 26 May 2021. Eligible applicants may now apply for e-commerce permits or licenses with immediate effect from the MOC through an online portal.

Thailand Makes Changes to Penalty Interest Rates Charged on Loan Repayments that go Into Default

On 10 April 2021, the Thai Government announced an Emergency Decree Amending Secitons 7 and 224 of the Civil and Commercial Code 2021 making significant changes to the very high default interest rates that may be charged on loans that fall into arrears or are not being properly paid off.

Key issues under the model power purchase agreement (PPA) for Rooftop Solar System

In this update, we discuss some key issues under the model PPA used for rooftop solar system (RTS) under Circular 18/2020.

Comparison between a multiple member limited liability company and a joint stock company under Enterprise Law 2020

This post provides a table for comparison between a multiple member limited liability company (Multiple LLC) and a joint stock company (JSC) under the Enterprise Law 2020 in some key areas.

Can an Uber driver be regarded as an employee under Vietnamese law?

The UK court has recently considered that an Uber driver is a Worker of Uber under UK employment law. In this update, we will consider if similar conclusion could be reached under Vietnamese law using the UK court’s reasoning.

Can the secured party in a secured transaction be different from the obligee under Vietnamese law?

This update discusses Decree 21 /2021 and whether the obligee must be the secured party in a secured transaction.

Comparison between VIAC and SIAC arbitration proceeding

This update summarises the key steps in an arbitration proceeding at Vietnam International Arbitration Center (VIAC) and Singapore International Arbitration Center (SIAC).