vietnam

Vietnam: Two notes about taxes on the lease of property in Vietnam

A lease of property is a form in which the person who has the right to the property hands over the property to another person for a certain period of time and collects a corresponding lease amount. In Vietnam, the property leasing activities of individuals are incredibly diverse with different property objects. This update presents several notes below about Vietnam’s tax policies on leasing individual property.

Restoration of Vietnamese nationality

Vietnam: Terminating a labour contract of an employee who regularly fails to complete work

Through the below three questions, this update discusses notes regarding the unilateral termination of labour contracts due to the frequent non-completion of work from employees, according to the prevailing laws of Vietnam.

Vietnam: Conditions for foreign loans of borrowers which are not guaranteed by the government (self-borrowing, self-paying)

The State Bank of Vietnam issued Circular No. 08/2023/TT-NHNN (“Circular 08/2023”) stipulating conditions for non-government guaranteed foreign loans. Circular 08/2023 takes effect from 15 August 2023, with several notable contents as discussed in this update.

Vietnam: Lending activities of credit institutions and foreign bank branches to customers

Vietnam: Amending some articles in state management of the Ministry of Construction (Decree 35)

On 20 June 2023, the Government issued Decree No. 35/2023/ND-CP amending and supplementing a number of articles of decrees in the field of state management of the Ministry of Construction. This update discusses the notable contents.

Vietnam: Customs and Global Trade Updates | July & August 2023

In this update: Vietnam – Israel Free Trade Agreement (VIFTA), Publishment of Supplementary Explanatory Notes (SEN) 2022, New Value-Added Tax (VAT) reduction policy applicable for the last 6 months of 2023 The EU imposing a definitive safeguard measure on the import of certain steel products, and other updates.

Vietnam: Contract interpretation under Vietnamese law

There are many disputes over the language of a contract. Such disputes usually result from ambiguous provisions which are not reviewed thoroughly by parties when concluding contracts. This article presents five principles of interpreting a contract under Vietnamese law.

Vietnam: Adjustments to insurance premiums for employees

Vietnam: Law 23/2034/QH15 on several Articles of Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam

Following the issuance of the Law No. 23/2023/QH15 amending several Articles of Law on Entry, exit, transit and residence of Foreigners in Vietnam, on 14 August 2023, the Vietnamese Government issued Resolution No. 127/NQ-CP and Resolution No.128/NQ-CP, which provide more clarification on some articles of the Law No.23 and will facilitate inbound foreigners entering Vietnam.

Vietnam: KPMG Technical Update on The issuance of license, organization and operation of the non-bank credit institutions

In this KPMG technical update: 1) Circular amending Circular on the issuance of license, organization and operation of the non-bank credit institutions, 2) Draft of Decree on cybersecurity administrative sanctions.

Vietnam: Customs update in-country export and import transactions in Vietnam

The General Department of Customs recently issued official letters 3987/TCHQ-GSQL dated 31 July 2023 and 4146/TCHQ-GSQL dated 8 August 2023 regarding in-country export and import tripartite transactions involving foreign traders. This refers to the developments regarding in-country export and import transactions covered in our Newsbriefs dated 10 November 2022 and 9 June 2023.

Vietnam: Draft regulations on administrative penalties for violations of cybersecurity and personal data protection

In this update: 1) The Draft Decree on Cybersecurity Administrative Penalties is tentative to take effect from 1 December 2023, 2) The Draft DCAP provides administrative penalties for violations of the personal data protection compliance requirements applicable to data controllers, processors, and controlling-processing entities.

Vietnam: Customs and Global Trade Alert | August 2023

This Alert is to update the recent regulatory development on on-the-spot import and export customs procedures in Vietnam.

Vietnam: New Lending Rules Affecting Investors Funding Plans

In June 2023 the State Bank of Vietnam released Circular 06/2023/TT-NHNN on lending activities of credit institutions and branches of foreign banks in Vietnam and Circular 08/2023/TT-NHNN dated 30 June 2023 on conditions for non-government guaranteed cross-border foreign loans.

Vietnam: Decree No. 10/2023/ND-CP amends and supplements the decrees guiding the Law on Land

In this update: 1) Issuance of certificates of ownership for the construction of tourist accommodations, 2) Conditions and criteria on changing land use purposes for rice cultivation, protective forest land and special-use forest land, 3) Procedures for land recovery in case of termination of an investment project in accordance with the investment regulations and others.

Vietnam: Customs and Global Trade Updates | May 2023

In this update: 1) Briefing of Operation Mekong Dragon V, 2) New format of the Certificate of Origin (C/O) within the framework of the Regional Comprehensive Economic Partnership Agreement (RCEP), 3) Circular on consolidating regulations under Law on Foreign Trade Management, 4) List of machinery and equipment that can be produced domestically, 5) Draft Resolution on the reduction of Value-Added Tax (VAT)

Vietnam: Customs and Global Trade Updates | June 2023

In this update: 1) List of scraps allowed to be imported from overseas as production materials, 2) Schedule of export tariff, preferential import tariff, tariffs nomenclature and corresponding absolute tariff, mixed tariff and out-of-quota tariff, 3) Application of ordinary duty rates for imported goods, and 4) Circular regulating the determination of origin of exported and imported goods and other updates.

Inheritance rights related to enterprise-ownership rights in Vietnam

Inheritance rights related to enterprise-ownership rights is an important factor in the family business model to ensure the company’s operation within the family for generations. What are Vietnamese regulations regarding inheritance rights related to enterprise-ownership rights in Vietnam?

Who are professional securities investors under the laws of Vietnam?

One of the methods for an issuer to offer securities to the public is to offer securities to 100 or more investors, excluding professional securities investors. So which individuals/organizations are regulated as professional securities investors? This article summarizes the main regulation about professional securities investors under the laws of Vietnam.