vietnam

Vietnam: New Law On Consumer Protection

On 20 June 2023, the National Assembly issued a new Law on Consumer Protection, which will replace the Law on Consumer Protection 2010 from 1 July 2024. In this post, we will discuss some key points of the Law on Consumer Protection 2023.

Vietnam: Term deposit in regard of foreign loans not guaranteed by the Government

On 30 June 2023, the Governor of the State Bank of Vietnam promulgated Circular No. 08/2023/TT-NHNN on conditions on foreign borrowing not guaranteed by the Government, replacing Circular No. 12/2014/TT-NHNN and amending a number of provisions in Circular No. 12/2022/TT-NHNN.

Vietnam: SBV publishes new Circular on offshore loans without guarantee

On 30 June 2023, the State Bank of Vietnam (SBV) issued Circular 08/2023/TT-NHNN (Circular 08), prescribing the eligibility requirements for foreign loans without the government's guarantee. This article provides a detailed look at Circular 08.

Vietnam: Draft Decision on procedures for approval of foreign lending and non-resident guarantee activities by economic organisations

The Ordinance on Foreign Exchange Control allows economic organisations to extend outbound loans and furnish guarantees to non-residents, provided they secure permission. However, the absence of a comprehensive legal framework has led to a case-by-case approval system, causing challenges.

Vietnam: Notes on liability exemption in implementation of a commercial contract pursuant to Vietnamese laws

When entering a commercial contract, often a contractual party does not pay sufficient attention to liability exemption. The liability exemption is a provision protecting legitimate rights and interests of the breaching contractual party in specific cases while implementing the contract in practice. This legal update examines this issue. In this article, BLawyers Vietnam presents an overview of four notes on liability exemption when breaching a contract in the commercial field.

Vietnam: Which group of employees should an employer pay attention to when considering restructuring in Vietnam?

When an enterprise conducts a restructuring, it will affect the rights of employees. The enterprise needs to pay attention to certain groups of employees. This article provides information about the key labour groups when considering restructuring.

Vietnam: Tax & Customs Global Trade Alert | September 2023

This Alert is to update the latest development on on-the-spot export and import transaction in Vietnam, and their potential tax and customs implications.

Vietnam: Grant Thornton Tax Newsletter - August 2023

In this newsletter: 1. Circular 08/2023/TT-NHNN on eligibility requirements of foreign loans without government’s guarantee, 2. Circular 05/2023/TT-BKHDT on reporting form, implementation of quarterly report on investment activities, 3. Application of additional CIT in accordance with Global Anti-Base Erosion Model Rules (GloBE), and Others: 1995/BHXH-TCKT, 46974/CTHN-TTHT, and 8999/CTTPHCM-TTHT.

Vietnam: Software Exporters in Vietnam Should Plan to Maximize VAT Refund

In this article, we explore the value-added tax refund scheme for software production in Vietnam, discuss eligibility criteria, and outline the process and tax risks involved in claiming the refund to maximize the amount received.

Mazars in Vietnam Newsletter - Tax & Legal Update - Issue July 2023

In this update: 1) Guidance on electronic invoices ("E-invoices"), 2) Guidance on personal income tax ("PIT"), and 3) Official Letter 2162/TCT-KK issued by the GDT dated 31 May 2023 guiding the change of tax registration information

Vietnam: Registering A Foreign-invested Company’s E-commerce Exchange Operation

Vietnamese law has allowed foreign investors to operate E-commerce exchanges to attract foreign investment, but also carefully placed several necessary conditions that foreign investors must follow to safeguard domestic E-commerce exchange developers. A foreign-invested company registering to run an E-commerce exchange needs to perform the stages outlined in this article.

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