Although the implementation process of Decree 107/2018/ND-CP has promoted its effectiveness and contributed to completing the legal framework on rice export control, some points still need to be changed to match reality. For example, regulations on export entrustment and checking conditions.
The Law on Telecommunications was promulgated in 2009 and has numerous inadequacies. Therefore, the Law on Telecommunications (amended) is expected to be discussed at the National Assembly session in May 2023 and submitted to the National Assembly for approval in October 2023.
On 30 September 2022 the State Bank of Vietnam issued Circular 12/2022/TT-NHNN guiding the management of foreign exchange in respect of the borrowing and repayment of foreign loans by enterprises which replaced Circular 03/2016/TT-NHNN from 15 November 2022 (as amended).
Article 174 of the Penal Code 2015 imposes criminal liability to an individual who appropriates others’ properties by fraudulent means. To prove that an individual commits a crime of fraud, the authorities would need to produce substantial evidence to support their cases. This update discusses a recent case.
Only a limited subset of foreign companies providing services in Vietnam’s cyberspace are subject to data localisation requirements in Vietnam under the recent Decree 53/2022. However, any foreign company providing services in Vietnam’s cyberspace will need to comply other obligations under the Law on Cybersecurity 2018 and its implementing regulations.
On 17 November 2022, the State Administration Council (“SAC”) enacted the Law Amending the 2022 Union Tax Law (“2022 UTL Amendment”). This law provides tax exemptions for Battery Electric Vehicles (“BEVs”) and increases the corporate income tax rate of companies engaged in the oil and gas exploration and production sector in Myanmar.
The global Financial Action Task Force (“FATF”) on 21 October 2022 placed Myanmar in the category of “High-Risk Jurisdictions Subject to a Call for Action,” commonly referred to as the “blacklist,” due to its failure to implement its action plan that expired in September 2021.
On 16 November 2022, the Myanmar Internal Revenue Department issued Public Ruling 3/2022, which clarifies how the tax authorities will interpret tax avoidance, underpayment, false or misleading tax information, and tax evasion as provided under Myanmar’s Tax Administration Law.
On 15 November 2022, the Secretary of the Department of Energy signed a DOE Department Circular amending the Implementing Rules and Regulations of Republic Act No. 9513 (the Renewable Energy Act of 2008), removing the nationality restrictions on the exploration, development, and use of renewable energy.
In this update: The special preferential tariff rate under the EU – Vietnam Free Trade Agreement (EVFTA), Second review on the application of anti- dumping measures for certain aluminium products, Draft Circular providing guidance on goods manufactured in Vietnam, and others.
In January 2022, Thailand’s Trade Competition Commission issued three merger decisions that provide important guidance on the application of Thailand’s merger regime.
On 1 September 2020, the Thai Securities and Exchange Commission (“SEC”)’s new regulations regarding the advertisements of digital asset business operators became effective. Further, the SEC has issued the new regulations as follows: SEC No. GorThor. 19/2565, SEC No. SorThor. 22/2565 and SEC No. NorPor 5/2565.
In an opinion addressed to the Department of Energy, the Department of Justice stated that the exploration, development, and utilization of solar, wind, hydro and ocean or tidal energy should not be subject to forty percent (40%) foreign equity limitation under Section of 2 Article XII of the Constitution.
On 14 November 2022, the General Department of Taxation issued Official Letter No. 4205/ TCT-DNNCN on guiding owners of e-commerce trading platforms to provide information as prescribed in Paragraph 7 Article 1 Decree 91/2022/ND-CP dated 30 October 2022.
In this update: 1) New Circular on foreign borrowing and loan repayment of the enterprise, and 2) Amending the relevant regulations of the Law on Chemicals.
In this update: 1) Key points of Decree 91/2022/ND-CP which amends and supplements some articles of Decree 126/2020/ND-CP, and 2) Some notes in relation to obligations of complying with the transfer pricing regulations for the fiscal year 2022 in accordance with Decree 132/2020/ND-CP.
The United Kingdom and Vietnam have made positive moves in bilateral trade and investment after one year of enforcement of a special free trade deal. Kenneth Atkinson, chairman of the British Chamber of Commerce Vietnam, talked to VIR’s Bich Thuy about what could lay ahead.
The Law on Public-Private Partnership was enacted in November 2021 and abrogates and replaces the Law on Concessions (2007). The PPP law is intended to attract private investment into infrastructure projects by using state-offered financial assistance. guarantees, and/or investment incentives to facilitate agreements between the state and one or more private partners.
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
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