Updates
Vietnam: Adopts New Law on the Protection of Consumer Rights
- DFDL Vietnam
On 20 June 2023, the National Assembly of Vietnam passed the new Law on the Protection of Consumer Rights (“LPCR 2023“). This update covers key highlights of LPCR 2023.
Vietnam: New Draft Land Law – Changes to Types of Land Entitled to Lump Sum Rental
- Venture North Law Firm
The Ministry of Natural Resource and Environment recently published a draft new land law for collection of public comments before submitting the Draft to the National Assembly. Among other notable changes introduced by the Draft, the change to regulations on land rental payment method may attract attention.
Vietnam: 50% Or 100% Foreign Ownership Limit In Public Companies Involving Real Estate Business In Vietnam?
- Venture North Law Firm
The State Securities Commission (SSC) seems to take the view that public companies involving real estate business are subject to a 50% foreign ownership limit. This update discusses this view.
Vietnam: Expediting the Value Added Tax Refund For Enterprises
- KPMG Vietnam
On 26 May 2023, the Prime Minister promulgated Official Telegram 470/CD-TTg on the continuing implementation of drastic and effective measures and tasks in order to ease difficulties for businesses.
Vietnam Adopts New Law on the Protection of Consumer Rights
- DFDL Vietnam
On 20 June 2023, the National Assembly of Vietnam passed the new Law on the Protection of Consumer Rights. This update provides key highlights of the Law.
Vietnam: State Bank of Vietnam tightens control over onshore lending
- Allens Vietnam
On 28 June 2023, the State Bank of Vietnam (SBV) issued Circular 06/2023/TT-NHNN (Circular 06) to amend Circular 39/2016/TT-NHNN (Circular 39) on lending activities of credit institutions and foreign bank branches in Vietnam. Circular 06 will take effect from 1 September 2023.
Vietnam: Long-anticipated rules on cross-border lending into Vietnam finally issued
- Allens Vietnam
The State Bank of Vietnam has issued the long-anticipated regulations on non-government guaranteed cross-border foreign loans under Circular No. 08/2023/TT-NHNN. This replaces the current Circular No. 12/2014/TT-NHNN from 15 August 2023. This Insight explains the key changes under the New Circular and their impact on foreign lenders and domestic borrowers.
Vietnam: E-commerce trading floor and e-commerce websites in Vietnam: 20 questions and answers
- BLawyers Vietnam
This update provides 20 frequently asked questions and answers to provide an overview of the E-commerce trading floor and E-commerce website pursuant to Vietnamese law, describing below the conditions and procedures for registering an E-commerce trading floor and E-commerce website under the prevailing law of Vietnam.
KPMG Vietnam Customs Alert - July 2023
- KPMG Vietnam
The General Department of Customs has recently proposed to abolish all regulations relating to the on-the-spot export and import procedures provided by Article 35 of Decree 08, which have been commonly used and play an important part in the processing trade models and manufacturing ecosystem.
Vietnam: Decree No.44/2023/ND-CP stipulates the tax reduction of VAT policy effective for the last 06 months of 2023
- Mazars Vietnam
On 30 June 2023, the Government issued Decree 44 stipulating the VAT reduction policy according to Resolution No. 101/2023/QH15 dated 24 June 2023 which is effective from 01 July to 31 December 2023. Decree 44's main content is similar to the provision on VAT reduction in 2022 stipulated in Decree 15.
Vietnam: How can capital contributions made past the time limit prescribed by Vietnam laws be settled?
- BLawyers Vietnam
When establishing an enterprise in Vietnam, individuals or organizations need to follow procedures prescribed by law. This article presents the provisions of Vietnamese law that address the time limit for charter capital contributions and the settlements when contributions to charter capital are made beyond the prescribed time limit.
Vietnam: Extending the deadline for SCT payment for automobiles manufactured or assembled locally
- PwC Tax & Advisory Vietnam
On 21 June 2023, the Government issued Decree 36/2023 to extend the special consumption tax payment deadline for locally manufactured or assembled automobiles, applicable for the tax period from June to September 2023. The Decree takes effect from the signing date to 31 December 2023.
Vietnam Tax Newsletter | June 2023
- Grant Thornton Vietnam
In this newsletter: Decision No. 575/QD-TCT stipulating the Risk Management Process for assessing and identifying taxpayers having risk signs in management, Official Letter No. 1483/TCT-KK of the General Department of Taxation about payment of tax according to the payable identity code, and other updates.
Vietnam: Domain name registration and trademarks
- BLawyers Vietnam
Does registering a domain name protect a trademark with elements associated with the domain name?
Vietnam: Specialized clinics, goods trading activities, and requirement for trading permits and an outlet licence.
- BLawyers Vietnam
When are a specialized clinic’s goods trading activities required to have a trading permit and an outlet license at the same time?
Vietnam Tax Alert - VAT Reduction
- KPMG Vietnam
Following the Resolution No. 101/2023/QH15, on 30 June 2023, the Government issued Decree 44/2023/ND-CP on VAT reduction. Accordingly, the VAT for goods and services which are currently subject to the tax rate of 10% is reduced to 8%, with certain exceptions, applicable from 01 July 2023 until 31 December 2023.
Vietnam: State Bank to lower interest rates
- ADK Lawyers
The State Bank of Vietnam (SBV) has just issued decisions to adjust interest rates in order to contribute to controlling inflation, stabilizing the macro economy, and the money market to strive to reduce interest rates lending to businesses and people, supporting economic growth recovery.
Vietnam: Additional conditions for registration of multi-level selling activities
- ADK Lawyers
On April 28, 2023, the Government has just issued Decree No. 18/2023/ND-CP amending and supplementing a number of articles of Decree No. 40/2018/ND-CP dated March 12, 2018 on operation management business by multi-level method.
Vietnam: Recent Changes to Regulations Governing Corporate Bonds Issued in Vietnam
- RHTLaw Vietnam
In response to the domestic market’s needs, Decree No. 08/2023/ND-CP aims to untie some knots for bond issuers with key changes governing corporate bonds, as discussed in this article.
Vietnam: KPMG Legal Update On Interest Rates, Reducing VAT, Reducing Land and Water Surface Rental
- KPMG Law Limited
In this legal update: 1) Decisions regulating maximum short-term lending interest rate and interest rate for deposits in Vietnam Dong at credit institutions and foreign bank branches, Draft Decree on value added tax (VAT) reduction policy of 2%, and Draft Resolution on reducing land rental and water surface rental.
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