This eighth draft of the new Land Law continues to improve the administrative land management system and expand the rights of land users, including foreign-invested economic organisations. This update discusses the key highlights of the new draft.
The key to navigate distressed M&A substantially relies upon striking a balance between the potentially high commercial gains and the special legal risks peculiar to distressed assets. This article discusses what buyers should be mindful of and how they can manage the key legal risks for the best possible desirable outcome.
On the 20th of November 2023, the Department of Industry and Trade of Ho Chi Minh City officially released Letter No. 7028/SCT-QLXNK, outlining collaborative efforts for the execution of the 2023 Shopping Season. This initiative aligns with the directives set forth in Plan No. 1976/KH-UBND, issued on the 15th of May 2023.
On 18 September 2023, Vietnam’s Government introduced the Decree No. 70/2023/ND-CP amending the Decree No. 152/2020/ND-CP dated 30 December 2020 concerning foreign employees in Vietnam and the administration of Vietnamese employees employed by foreign entities in Vietnam. Among several updates, highlighted below are two primary groups of changes concerning foreign employees in Vietnam.
To meet its climate commitments and achieve net-zero by 2050, the Vietnam government has taken steps to establish a legal framework for the development of renewable energy. This effort has included enticing foreign investments in wind power. This article discusses market access and foreign market access.
On 20 June 2023, the National Assembly promulgated the Law on Protection of Consumers’ Rights No. 19/2023/QH15 (the “New PCR Law”), aimed to replace its almost 13 year old predecessor – the Law on Protection of Consumers’ Rights No. 59/2010/QH12 promulgated on 17 November 2010, as guided by Decree No. 99/2011/ND-CP (the “Current PCR Law”).
On 9 January 2023, the Government issued Law No. 15/2023/QH15 on Medical Examination and Treatment superseding Law No. 40/2009/QH12 with the goal of bringing a more forward legal framework corresponding to current medical practice beginning on 1 January 2024. This update provides valuable details on the new law.
The National Assembly of Vietnam has passed a Resolution in respect of the OECD’s Pillar Two Model Rules. The Resolution will come into effect from 01 January 2024. The Resolution requires large multinational groups to pay a global minimum corporate income tax of 15% on profit in each jurisdiction.
Further to our update on 1 August regarding the draft Resolution on Global Minimum Tax policy in Vietnam issued for public consultation, the National Assembly has just approved this Resolution on 29 November. The Resolution takes effect from 1 January 2024.
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.
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
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
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 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.
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.
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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