Circular 08/2023/TT-NHNN officially took effect from August 15, 2023 and has a number of changes compared to previous legal documents. In this article, we will mention new points related to the limit on the purpose of foreign loans in cases where the borrower is not a credit institution or foreign bank branch (enterprise).
This KPMG Technical Update covers Decree 56/2023/ND-CP on conditions on security and order for a number of conditional business lines, and Decree 35/2023/ND-CP on State Management of the Ministry of Construction.
This update summarises the following key legislation: Law on Protection of Consumers' Rights 2023, Law on Electronic Transactions 2023, Law on Procurement 2023
On 18th September 2023, the Government promulgated Decree No. 70/2023/ND-CP amending and supplementing a number of articles of Decree No. 152/2020/ND-CP on foreign employees working in Vietnam and recruitment and management of Vietnamese employees working for foreign employers in Vietnam.
Although the requirement for investment supervision and assessment reports has existed since 2021, the Ministry of Planning and Investment has just issued the new report forms recently under Circular No. 05/2023/TT-BKHDT dated 30 June 2023 on investment supervision and assessment report forms.
On 23 August 2023, the State Bank of Vietnam issued Circular No. 10 suspending the enforcement of certain provisions of Circular No. 39. The SBV has suspended the enforcement of clauses 8, 9, and 10 of article 8 of Circular 06 concerning non-eligible loan capital.
On 22 June 2023, the National Assembly issued a new Law on E-transactions, which will take effect from 1 July 2024 (LET 2023). This update covers the LET 2023 notable points.
In December 2022, the Prime Minister decided to establish VSDC by converting Vietnam Securities Depository Centre (VSD) being a Government agency under the State Securities Commission (SSC) into a single limited liability company under the Enterprise Law 2020.
Following on from the new VSD Private Bond Regulations and the difficulties for current bond holders to enforce their rights, this legal update discusses some of the improvements which could be included in the terms and conditions of a new private corporate bond.
This update discusses the suggestion that the Enterprise code (instead of names and addresses) of a manufacturer or importer should be mandatory labelling content for goods circulated in Vietnamese market.
In this update: 1, Guidance on electronic invoices ("E-invoices"), 2, Guidance on corporate income tax (“CIT”) Guidance on value added tax (“VAT”), 3, Guidance on Foreigner Contract Tax (“FCT”), 4, Guidance on Personal Income Tax (“PIT”).
The Ministry of Industry and Trade has just completed a draft Circular on methods of developing a price frame for solar and wind power plants for comments.
on 18 September 2023, the long-awaited Decree No.70/2023/ND-CP, amending a number of articles of the Decree No.152/2020/ND-CP was issued. Changes in the regulations as guided in the amended Decree No. 70/2023/ND-CP on conditions for work permit applications and procedures are expected to significantly impact on the recruitment and mobility policies of the businesses using foreign labours.
In Vietnam, the decree for regulations on controlled testing mechanism for financial technology activities in the banking sector (Sandbox) has been considered since its first draft in 2020. The decree is expected to be enacted by Vietnam Government this year. This article highlights the key pros and cons and the opportunity costs, to help decide on parachuting under this pilot scheme.
From 14 January 2019, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) became effective for Vietnam. This article discusses the negative list approach in the CPTPP.
The carbon market in Vietnam has been gradually heating up, especially after the Government issued on the mitigation of greenhouse gas emissions and protection of the ozone layer. This update provides an overview of the carbon credit and carbon market in Vietnam.
This update will set out a number of key changes in the new Bidding Law (22/2023/QH15) and in the new Law on the Protection of Consumer Rights (19/2023/QH15).
In June 2023, the State Bank of Vietnam (SBV) issued Circular 8/2023 which prescribes conditions for Vietnamese borrowers to borrow foreign loans without a Government guarantee. In this update, we discuss the borrowing conditions for a Vietnamese Company.
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.
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.
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
All resources are linked to related content with each link manually selected by our editorial staff.
In addition, all content can be found using our advanced search engine, to improve the speed and effectiveness of your research.
We work with many local and international firms on an ongoing basis to develop and maintain the service.