Updates
OECD releases Vietnam’s second MAP peer review report
- PwC Tax & Advisory Vietnam
The OECD has published “Making Dispute Resolution More Effective – MAP Peer Review Report, Vietnam (Stage 2)”, detailing actions Vietnam has taken and will take to improve its mutual agreement procedure (“MAP”) to meet the requirements of Action 14 of the OECD’s Base Erosion and Profit Shifting (“BEPS”) initiative.
Is it a privilege for an employer to renew a work permit of its foreign employees in Vietnam?
- BLawyers Vietnam
Through this article, BLawyers Vietnam would like to introduce the conditions for extending WPs for foreign employees and whether this is a privilege of employers.
Can a non-contractual claim be settled by commercial arbitration in Vietnam?
- Venture North Law Firm
Vietnamese law is not clear that a non-contractual claim (i.e., a claim which is not based on a breach of contract) could be settled by commercial arbitration. However, Vietnamese courts seem to take the view that non-contractual claims cannot be settled by commercial arbitrations.
Vietnam: Guidance for using masks to prevent and control the COVID-19 pandemic in public places
- BLawyers Vietnam
The Ministry of Health issued Decision No. 2447/QD-BYT dated 06 September 2022 guiding the use of masks to prevent and control the COVID-19 pandemic in public places with the following notable contents.
Registration and management of operation of foreign non-governmental organizations in Vietnam
- BLawyers Vietnam
The Government issued Decree No. 58/2022/ND-CP dated 31 August 2022 on registration and management of operation of foreign non-governmental organizations in Vietnam with the following contents.
Can a small-size Vietnamese joint stock company operate without an inspection committee and an independent director?
- Venture North Law Firm
Article 137 of the Enterprise Law 2020 provides that a joint stock company (JSC) can decide to organise itself in accordance with the two options, as discussed herein.
Vietnam: Regulations on electronic identification and authentication
- BLawyers Vietnam
The Government issued Decree No. 59/2022/ND-CP dated 05 September 2022 providing for electronic identification and authentication with the following notable contents.
Vietnam: New regulations on measures to request removal of online information
- Apolat Legal
In this update: 1) New regulations on measures to request removal of online information with humiliating, slanderous, fabricated and untrue content, 2) Proposing additional authority to approve foreign exchange operations.
Protecting Vietnamese Crypto Organizations From Unwieldy Regulation
- Indochine Counsel
Vietnam has recently been ranked as the world’s leading adopter of cryptocurrency with more per capita adoption than either the USA or China. But what about other blockchain technologies?
How Ethereum’s Merge affects Vietnam
- Indochine Counsel
For those who follow cryptocurrency news, something big just happened. Ethereum, probably second only to Bitcoin, merged. There are two things that must be understood. First, what is the merge, and second what about the proof of work fork that has already broken away from the merged Ethereum blockchain.
Vietnam: New regulations on private corporate bond issuance
- Apolat Legal
In this update: 1) New regulations on private corporate bond issuance, and 2) New draft regulations on state capital investment in enterprises.
Amending the Law on Real Estate Business in order to promote the development of real estate market in Vietnam
- ADK Lawyers
The Ministry of Construction is drafting the Law on Real Estate Business. In the Draft, some notable provisions include: (i) The Addition of real estate allowed to be put on the market, and (ii) Additional conditions for organizations and individuals conducting real estate business.
Foreign organizations and individuals may purchase and own residential houses in Vietnam
- ADK Lawyers
The Ministry of Construction is drafting the Law on Residential Housing (amended) (hereinafter referred to as “Draft”). One of the notable provisions in the Draft is that foreign organizations and individuals (hereinafter referred to as “Foreign entities”) are able to purchase and own residential houses in Vietnam.
Vietnam: Statistical reporting period on business registration criteria
- ADK Lawyers
On August 10, 2022, the Ministry of Planning and Investment issued a circular on the statistical reporting regime of the Planning, Investment and Statistics sector.
Vietnam: Recording, taking photos of the Trial Panel, trial participants without permission may be fined up to 15 million VND
- ADK Lawyers
On August 18, 2022, the Standing Committee of the National Assembly has just issued Ordinance 02/2022/UBTVQH15 sanctioning administrative violations for acts of obstructing legal proceedings.
Data Privacy and Vietnam’s Government, Some Questions
- Indochine Counsel
According to Vietnam Plus yesterday, Ho Chi Minh City authorities are hopeful that their gross regional domestic process will be composed 25% of the digital economy. The plans are ambitious. The directive was issued by the standing board of the municipal party committee.
AI and the Law in Vietnam
- Indochine Counsel
AI requires absolutely staggering amounts of data in order for it to conduct the machine learning necessary to interact with novel situations. Only a few organizations have the data necessary to complete such training. Even if they are blessed with sufficient data, the way they use the data under current regulations is unclear.
Vietnam: Compulsory construction insurance during construction
- Apolat Legal
In this update: 1) Draft National Energy Development Strategy, and 2) Compulsory construction insurance during construction.
Tech giants complying with new tax system
- Grant Thornton Vietnam
A range of multinationals have already complied with Vietnam's new tax procedures for foreign suppliers / supplies - these groups are now adjusting their tax policies, which may affect companies and individuals who generate income from digital platforms. According to the General Department of Taxation (GDT), three months into deploying the Tax Portal for Foreign Suppliers, 26 multinational organisations registered and paid a total amount of about $20 million in tax. Vietnam is now one of the first four countries in Southeast Asia to successfully assert the right to control taxes for foreign enterprises in e-commerce and other digital platforms.
Impacts of Vietnam’s New Data Localization Decree
- Indochine Counsel
This article looks at some of the effects of the implementation of the Cybersecurity Law on enterprises doing business in Vietnam.
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