vietnam

Vietnam added to the EU’s “grey list"

On 24th February 2022, the Council of the European Union (“EU Council”) added another 10 countries, including Vietnam, to its grey list, - its list of The grey list of countries deemed by the EU to be co-operative and have committed to reforming their tax rules.

Vietnam Updates From ADK - Vol. 37: Draft Circular on determining electricity generation prices and power purchase agreement value for solar and wind generation.

In this update: 1) Draft Circular on electricity generation price brackets, determining electricity generation price, and power purchase agreement value, 2) Guideline on determining the HS code for receiving 2% VAT reduction, and the Ministry of Health issued the Circular stipulating the latest maximum payment rates for testing services.

Accommodation Service Business Within An Industrial Zone

To satisfy the actual demand of those working in industrial zones (IZs), recently, more and more investors are exploring possibility to do the accommodation service business (e.g. hotel, condotel, officetel, …) (Accommodation Business) within IZs.

Vietnam Weekly Update - 28 February 2022

Cập Nhật Hàng Tuần Việt Nam - 28 Thang 02 2022

In this legal update: 1) Guidance on investment supervision and assessment for foreign investment activities in Vietnam; 2) National program on occupational safety and health for the period of 2021 -2025.

Vietnam Signed Social Insurance Agreement With Korea

Bản tin nhanh về pháp luật bảo hiểm

On 14th December 2021, the Social Insurance Agreement (“the SIA”) between Vietnam and Korea was signed by the Minister of Labour, War Invalids and Social Affairs (Vietnam) and the Minister of Health and Welfare (Korea) on behalf of the Governments of the two countries

Vietnam Updates From ADK - Vol. 36: Decree No. 17 on penalties in the following fields: Chemicals, energy, commerce, production and trade in counterfeit goods, consumer rights.

In this update: The Government has just issued Decree 17 on penalties for administrative violations in the field of chemicals, electricity, safety of hydroelectric dams, effective use of energy. commerce, production and trade in counterfeit and prohibited goods, and protection of consumer rights.

Future of Vietnam DTAs post-MLI

On 9 February, Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“the Convention” or “the MLI”), becoming the 99th jurisdiction to join the Convention.

Vietnam: Precedent No. 52/2021/AL on the validity of contracts for a donation of land use rights without registration

Việt Nam: Tiền lệ số 52/2021/AL về hiệu lực hợp đồng tặng cho quyền sử dụng đất mà không cần đăng ký

In this legal update: 1) Entry procedures for foreigners, overseas Vietnamese and their relatives to return to Vietnam, 2) Precedent No. 52/2021/AL on the validity of contracts for a donation of land use rights without the registration of land use rights

Vietnam Weekly Update - 16 February 2022

Cập Nhật Hàng Tuần Việt Nam - 16 Thang 02 2022

In this legal update: 1) The implementation of several articles of the Law on Occupational Safety and Health regarding employee benefits re occupational accidents or diseases, 2) Amending the Law on Investment and the Law on Housing; and 3) Frequently asked legal questions on declaring inheritances.

Resolution 11 provides various measures to support businesses

On 30 January, the Government issued Resolution 11/NQ-CP on socio- economic recovery measures and implementation of Resolution 43/2022/QH15 on fiscal and monetary policies.

Digital Signatures In Signing Labour Contracts

Digital signatures can be used by businesses to sign labour contracts with their employees. This update discusseses the legal validity of digital signatures with employees.

Vietnam Updates From ADK - Vol. 35: Law amending and supplementing the Law on Investment, the Law on Enterprises

Bản Tin Pháp Luật Từ ADK - Số 35: Luật sửa đổi, bổ sung Luật Đầu tư, Luật Doanh nghiệp

In this update: 1) National Assembly issues Law No. 03/2022/QH15 amending and supplementing a number of articles of the Law on Investment, the Law on Enterprises, 2) Eliminating the requirement to have a certificate of full dose of COVID-19 vaccine or a certificate of recovery or negative test on domestic flights

Axie Infinity Redux

Vietnam’s startup darling Axie Infinity is in the news. Like the United States on the back of trillions of dollars of newly printed dollar bills, Axie Infinity is suffering from a classic economic problem: inflation.

New measures to control greenhouse gas emissions in Vietnam

In this January 2022, three new legal documents have been issued regarding the reduction of greenhouse gas emissions and protection of the ozone layer, including Decree 6 of the Government dated and effective from 7 January 2022 (Decree 6/2022). The legislation seems to a step to implement Vietnam’s commitment to achieve net-zero carbon emissions by 2050 in the COP26.

Structure for foreign lenders to take mortgage over Land Use Right held by Vietnamese borrowers

Under the Land Law of 2013, a foreign lender cannot take a mortgage over a land use right from a Vietnamese borrower. However, a foreign lender with the support of a Vietnamese bank may consider the some structures to allow a Vietnamese company borrower to use its land use right as security for a foreign lender.

“Seat of arbitration” and “venue of arbitration” – What do they mean under Vietnamese law?

In international arbitration, determining the “Seat Of Arbitration” is important since the law of the country where the seat of arbitration is located will usually govern the arbitration proceedings. In Vietnam, the Law on Commercial Arbitration 2010 does not have a clear definition of “seat of arbitration” and “venue of arbitration”.

Will the number of preference shareholders be taken into account in determining public company status in Vietnam?

The Securities Law 2019 is not clear whether the number of preference shareholders will be taken into account when determining whether a company is a public company.

Approved 2021-2030 Land Use Master Plan

On 13 November 2021, the National Assembly issued Resolution No. 39 to approve the land use master plan for the period 2021-2030 with a vision to 2045 and a land-use plan in 5 years from 2021 to 2025 (Land Use Master Plan).

Vietnam Weekly Update - 24 January 202

Cập Nhật Hàng Tuần Việt Nam - 24 Thang 01 2022

In this update: 1) Value added tax policy in merger and separation of companies, 2) Expenses deductible when calculating corporate income tax and personal income tax with the payment of unpaid leave days for employees, 3) The management of petroleum business, and 4) Calculating PIT for foreigners.

Credit Information in Vietnam

A summary of credit information services regulation in Vietnam.