Updates
Vietnam: Approval on 2% VAT rate cut in 2023
- PwC Tax & Advisory Vietnam
On 24 June 2023, the National Assembly approved the Resolution of the 5th Meeting of National Assembly XV. This includes a VAT rate reduction which will take effect from 1 July 2023 until 31 December 2023.
Vietnam Pocket Tax Book 2023
- PwC Tax & Advisory Vietnam
A synopsis of the most important Vietnam tax issues
Vietnam: 21 frequently asked questions and answers about the registration of secured transaction for existing land-attached assets
- BLawyers Vietnam
In this update, BLawyers Vietnam provide an overview of secured transaction registration for existing land-attached assets (houses, factories, etc.), and present the conditions and procedures for registering secured transaction pursuant to the prevailing law of Vietnam.
Vietnam: Boundaries of Shareholder Agreements: Examining the Validity of Typical Provisions
- LNT & Partners
This article aims to examine the legal validity and enforceability of agreements related to share transfer restrictions, decision-making restrictions, and corporate management and control commonly found in SHA in Vietnam.
Vietnam: Share-based bonuses from non-public companies to employees and 03 related issues
- BLawyers Vietnam
In this article, BLawyers Vietnam presents three issues relating to the issuance of shares and share-based bonuses for employees in non-public JSCs pursuant to the prevailing laws of Vietnam.
Vietnam: The Restriction Period for Credit Institutions to Repurchase Corporate Bonds has been recently lifted until the end of 2023
- LNT & Partners
On April 23, 2023, Circular No. 03/2023/TT-NHNN was promulgated with immediate effect from the following day until 31 December 2023, suspending the validity of Clause 11 of Article 4 of Circular No. 16/2021/TT-NHNN on corporate bond trading of credit institutions and branches of foreign banks.
Vietnam’s National Power Development Plan 2021 - 2030
- DFDL Vietnam
The Prime Minister executed Decision No. 500/QD-TTG, dated 15 May 2023 approving the National Power Development Plan for the period of 2021 – 2030, with a vision to 2050. PDP 8 confirms Vietnam’s national commitment to forward-looking electricity development “building an independent and self-reliant economy, improving the people’s livings standards and… quality of life.”
Vietnam: In-country import and export model in Vietnam would be abolished
- PwC Legal Vietnam
On 29 May 2023, the General Department of Customs (“GDC”) issued official letters no. 2587/TCHQ-GSQL and 2588/TCHQ-GSQL regarding draft amendments to Article 35 Decree 08/2015/ND-CP on in-country export and import transactions.
Vietnam: A close look at Vietnam's first consolidated personal data protection regulation
- Allens Vietnam
From 1 July 2023, Vietnam's first ever consolidated Personal Data Protection Decree (PDPD) will take effect. Following international trends, in particular the European Union's General Data Protection Regulation (GDPR), the PDPD seeks to strengthen rules on the collection, processing and transfer of personal data. In this Insight, we take a close look at the key provisions of the PDPD and its impacts on businesses.
Cambodia: Gambling Licensing in Cambodia
- BNG Legal
To bring clarity and increased oversight to the sector, the Royal Government introduced the Law on Management of Commercial Gaming in 2020, and further clarified the regulations in subsequent Sub-Decrees. This newsletter will focus primarily on the licensing and requirements for casino -based gambling.
Vietnam: Direct Power Purchase Agreement in Vietnam – The basics
- Venture North Law Firm
Before the PDP VIII was issued, in 2022, a draft decision of the Prime Minister on a pilot scheme for the DPPA mechanism was circulated for public opinion. In this article, we will discuss the basic structure of the DPPA mechanism and some key points in a DPPA.
Vietnam: Do tender offer requirements apply to an indirect acquisition of a Vietnamese public company via acquisition of its private parent?
- Venture North Law Firm
This update will discuss this question and what constitutes indirect ownership under the Securities Law 2019, in particular, among other circumstances, according to Article 35.1(a) of the Securities Law 2019, whether the tender offer regulations are triggered when an investor intends to purchase 25% or more of a public company.
Vietnam: New Circular On Environmental Risk Management in Lending Activities by Vietnamese Banks
- Venture North Law Firm
On 23 December 2022, the State Bank of Vietnam (SBV) issued Circular 17/2022 on environmental risk management in lending activities by credit institutions. Circular 17/2022 will take effect from 1 June 2023. In this update, we will discuss key points of Circular 17/2022.
British VI: Update - Virtual Assets Service Providers Act, 2022
- Grant Thornton Vietnam
The Virtual Asset Service Provider Act, 2022 came into force on 1 February 2023. The VASP Act describes the activities that require registration through the definitions of key terms such as virtual assets, virtual assets service and VASPs.
Vietnam Tax Updates | May 2023
- EY Vietnam
In this update: 1) Declaration of adjustment/replacement invoices, 2) Value added tax (VAT) rates applicable to returned goods, trade discounts and on adjustment invoices for goods which were eligible for the VAT reduction and were invoiced for prior to 31 December 2022, 3) Corporate income tax (CIT) incentives applicable to new investment projects with changes in investment registration information, and other updates.
Vietnam: New Land-Related Regulations - How the Government Gets to Grips With Difficulties in Implementation of the Law on Land
- RHTLaw Vietnam
Following the Vietnamese Government’s policy on relieving regulatory obstacles in implementing the current Law on Land, Decree No. 10/2023/ND-CP (“Decree 10”) issued recently on 3rd April 2023 will bring variant changes of land-related regulations from its effective date on 20th May 2023.
Vietnam: Customs and Global Trade Updates | February 2023
- EY Vietnam
In this update: Decrees promulgating preferential export tariffs and import tariffs to implement a number of FTAs, New regulations on the importation of used equipment, Duty exemption applicable for materials and components imported for the production of IT products, digital content and software, Circular on the rules of origin under the ASEAN –Japan Comprehensive Economic Partnership (AJCEP), and other updates.
Vietnam: Customs and Global Trade updates | March & April 2023
- EY Vietnam
In this update: 1) Application of official anti-dumping measures on tables and chairs imported from China, 2) Enterprises based in HCMC must register warehouse information before taking goods into a storage warehouse, 3) Rules of Origin under the ASEAN Trade in Goods Agreement (ATIGA) and other updates.
Vietnam: Newly enacted Resolution 33: boosting and regulating real estate market for sustainability
- Indochine Counsel
Recently, the Government issued Resolution No. 33/NQ-CP on 11 March 2023, which aims to provide solutions to dismantle and promote the real estate market in a safe, healthy, and sustainable manner.
Vietnam: Draft Circular to tighten controls for offshore loans in Vietnam
- Indochine Counsel
On 11 April 2022, the State Bank of Vietnam (the “SBV”) released a draft circular on conditions for foreign loans not guaranteed by the government, including loans to credit institutions and loans to local enterprises (the “Draft Circular”), and is expected to replace the current Circular No. 12/2014/TT-NHNN (“Circular No. 12”).
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