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Is VNDC a Stablecoin for Vietnamese Investors?

VNDC is a stablecoin pegged to the Vietnamese Dong but it is not a Vietnamese cryptocurrency, it is owned and controlled by a holding company in Singapore. The VNDC stablecoin is a foreign cryptocurrency that is targeted to Vietnamese citizens and its primary webpage is in Vietnamese.

Vietnam Weekly Update - 16 August 2021

Cập Nhật Hàng Tuần Việt Nam - 16 Thang 8 2021

On this week’s Legal Update, we will lead you explore 3 following issues: Regulation on electricity price; PIT of Covid-19 testing expenses; and Deploying online public services to support employees, employers facing difficulties due to the Covid-19 pandemic on the National Public Service Portal.

Short-Term Foreign Loans For Paying Salary – Some Issues Should Be Noted

Paying salary for employees is required by the Law. To resolve the current difficulties, many FDI enterprises find financial sponsorship from the short-term foreign loans without the Government’s guarantee. However, they have also been met a dilemma due to unclear regulations.

Vietnam Weekly Update - 9 August 2021

Cập Nhật Hàng Tuần Việt Nam - 9 Thang 8 2021

In this week’s Legal Update: Transferring of common ownership part of the apartment building, Specific regulations on essential goods and services; and CIT incentives policy for new investment projects.

Tax alert - Further important changes from Decree 18 guiding the Law on Export Duty, Import Duty

This Tax alert covers: Export processing enterprise (EPE) status and considerations and actions required for existing EPEs, EPEs established before the effective date of Decree 18 and EPEs established after the effective date of Decree 18.

Governmental Support Packages For Employers And Employees

Resolution 68/NQ-CP of 1 July 2021 and Decision 23/2021/QD-TTg of 7 July 2021 introduce 12 support packages for employees and employers seriously affected by the COVID-19 pandemic. This update sets out the ones, enterprises might be most interested in. Qualification is subject to conditions set out in these documents.

Tax alert - Government’s support to employers and employees impacted by COVID-19

This Tax alert covers: Support to employers, support to employees, support on Trade Union fund deferment support on late declaration and late payment of tax, amd Other measures to manage foreign nationals working in Vietnam.

Tax alert - Transfer Pricing: Advance Pricing Agreements

This Tax alert covers: Guidance on the application of Advance Pricing Agreements (APAs) in accordance with Circular 45/2021/TT-BTC dated 18 June 2021, and important provisions relating to the application of APAs.

Latest Regulations on Automatic Extension of Temporary Residence for Foreigners in Vietnam During Covid-19 Pandemic

Overstaying a Vietnam visa will cause foreign visitors not only to incur administrative penalties but also to leave a negative mark in their records of the Vietnam Immigration Department, which make next return to Vietnam of foreigners become more difficult.

Vietnam Weekly Update - 2 August 2021

Cập Nhật Hàng Tuần Việt Nam - 2 Thang 8 2021

In this week’s Legal Update: 1. The roadmap for the reorganization of the markets for shares, bonds, derivatives, and other securities; and 2. Amending and supplementing several regulations related to compulsory social insurance.

Force Majeure Or Change Of Circumstances?

Recently, the authorities in key manufacturing hubs in the South of Vietnam, have issued orders requiring manufacturers to either create a production bubble or stop production until further notice. Is this force majeure or a change of circumstances?

Cambodia: Penalties for Violations of the Law on Consumer Protection

On 3 June 2021, Joint Prakas 338 on Provisional Fines for Violations of the Law on Consumer Protection was issued. This sets out the procedures on imposing penalties (and the levels thereof) to ensure effective implementation of the Law on Consumer Protection dated 2 November 2019.

The concepts of employees, employment contracts, and a worker without an employment relationship under Vietnamese labour law.

The Labour Code 2019 has significantly expanded its scope of application by expanding the definition of employees and introducing a new concept of workers without an employment relationship. The changes could have significant impacts on many individuals including gig workers.

New structure to overcome tender offer requirements under Vietnam securities law

Under the Securities Law 2019, a proposed buyer (the Buyer) who wish to acquire 25% or more of total shares (the Sale Shares) of a public company (the Target) must comply with tender offer requirements.

Right To Recourse In Factoring And Right To Cancel Debt Sale & Purchase Agreement Upon Default Event

Difference Between Right To Recourse In Factoring And Right To Cancel Debt Sale & Purchase Agreement Upon Occurrence Of Events Of Default

Regulations Governing Debt Sale And Purchase Business Activity

The Law on Investment of the National Assembly dated 17 June 2020 (Investment Law 2020) has removed the business line of “debt sale and purchase” from the list of industries and trades in which business investment is conditional.

Vietnam Weekly Update - 26 July 2021

Cập Nhật Hàng Tuần Việt Nam - 26 Thang 7 2021

In this week’s Legal Update: Consideration of reduction of imported goods, Tax policies related to investment projects and activities; and Tax policy on capital transfer activities.

New regulations on activities of providing cross-border advertising services in Vietnam

In this legal update: New regulations on activities of providing cross-border advertising services in Vietnam, and Applying the grade of construction projects to the management activity of investment and construction.

Vietnam Legal Updates, Vol. 10, July 2021: Non-punishment for late submission of tax returns due to Covid, and Additional subjects responsible for declaring and submitting tax on behalf of individuals.

In this newsletter: Non-punishment for late submission of tax returns due to Covid; Additional subjects responsible for declaring and submitting tax on behalf of individuals; and Conditions for some medical instruments and equipment to apply the 5% Value Added Tax rate.

Government’s Support for Employees and Employers impacted by COVID-19

On 1 July, the Government issued Resolution No. 68/NQ-CP setting out policies to support employees and employers affected by COVID-19. On 7 July, the Prime Minister issued Decision No. 23/2021/QĐ-TTg to implement Resolution 68. Vietnam Social Security and the social insurance (SI) agencies are actioniing these.