vietnam

Vietnam Updates From ADK - Vol. 34: The value-added tax rate is officially reduced from 10% to 8% in 2022

Bản Tin Pháp Luật Từ ADK - Số 34: Chính thức giảm thuế suất thuế giá trị gia tăng từ 10% xuống 8% trong năm 2022

In this update: 1. The value-added tax rate is reduced from 10% to 8% in 2022, 2. New regulations toward procedures for registration fee deferment for houses and land, 3. Road map to limit production and import of single-use plastic products, plastic packaging, and products and goods containing microplastics.

Vietnam Updates From ADK - Vol. 33: Credit institutions to buy corporate bonds when non-performing loan ratio is below 3%

Bản Tin Pháp Luật Từ ADK - Số 33: Tổ chức tín dụng chỉ được mua trái phiếu của doanh nghiệp khi có tỷ lệ nợ xấu dưới 3%

In this update: 1) Additional regulations on sanctioning for the case of making invoices lacking required information, 2) Credit institutions only allowed to buy corporate bonds when their non-performing loan ratio is below 3%, 3) Decree 08/2022/ND-CP takes effect from 10 January 2022.

Vietnam: Stop producing, importing single-use plastic products after December 31st, 2023

In this update: 1) According to Decree 08 2022 and guiding the Law on Environmental Protection 2020, the Government requires that after 2030, the production of single-use plastics should be stopped, and 2) Supplement the sources for receiving complaints in civil judgment enforcement.

E-Commerce VAT Registration/Reverse Charge Implementation Date Extended

The General Department of Taxation (“GDT”) issued Notification no. 776 GDT on the 17th of January 2022 (“Notification 776”) which delays the implementation of Prakas 542 MEF.P on the Rules and Procedure for the Implementation of VAT on E-Commerce (“Prakas 542”) to 31 March 2022.

Vietnam Weekly Update - 17 January 2022

Cập Nhật Hàng Tuần Việt Nam - 17 Thang 01 2022

In this legal update: 1. Detailed regulations on the implementation of several articles of the Law on Real Estate Business, 2. Detailed regulations on the implementation of several articles of the Law on Real Estate Business; and 3. Guidance on insurance premium tax refund.

Digital Banking in Vietnam

On 11 May 2021 the State Bank of Vietnam adopted Decision 810 approving the plan for the digital transformation of the banking sector by 2025 with orientations towards 2030, which outlined the specific goals on digital transformation rates for the operations of credit institutions.

Vietnam: Reducing the levy of 37 fees to assist and alleviate difficulties for entities affected by Covid-19.

Viet Nam: Giảm mức thu 37 khoản phí, lệ phí nhằm hỗ trợ, tháo gỡ khó khăn cho đối tượng chịu ảnh hưởng bởi dịch Covid-19.

In this update: 1. Reducing the levy of 37 fees and charges to assist and alleviate difficulties for entities affected by Covid-19, 2. Customs documents for imported humanitarian aid goods, gifts and presents serving the prevention and fight against Covid-19.

Vietnam Updates From ADK - Vol. 32: . Decree 02 on the Implementation of the Law on Real Estate Trading

Bản Tin Pháp Luật Từ ADK - Số 32: Chính phủ ban hành Nghị định 02/2022/NĐ-CP thay thế Nghị định 76/2015/NĐ-CP quy định chi tiết thi hành một số điều của Luật Kinh doanh Bất động sản.

1. The Government promulgates Decree 02/2022/ND-CP replacing Decree 76/2015/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Trading, 2. Some types of service businesses are allowed to re-open in Ho Chi Minh City, 3. The Supreme People's Court publish 09 new legal precedents.

The Metaverse and Vietnam

For the Metaverse, what works in America may not work in other parts of the world, nor be particularly well adapted to different cultures. There are questions as to whether Zuckerberg’s Metaverse will be able to operate in Vietnam and what some of the legal implications might be if it tries.

Allocating Sea Area for Offshore Wind Power Projects In Vietnam

Giao Khu Vực Biển cho Các Dự Án Điện Gió Trên Biển ở Việt Nam

It is likely that an offshore wind power project (Offshore WPP) will need to follow the procedures under Decree 11/2021 in order to be allocated with the necessary sea area for development and operation of the Offshore WPP, as explained in this legal update.

Offshore Wind Development in Vietnam – Legal Issues Relating to the Use of Sea Area

Phát Triển Điện Gió Ngoài Khơi ở Việt Nam - Các Vấn Đề Pháp Lý liên quan đến việc Sử Dụng Khu Vực Biển

Vietnam appears to have Great Potential to develop offshore wind, however, except for regulations on offshore oil and gas development under the Petroleum Law, Vietnam does not have adequate regulations to develop a large offshore infrastructure project such as offshore wind farms.

Notes for entering labor contracts with elderly employees

Despite reaching retirement age, many elderly employees still wish to continue working to earn income or because they are passionate about devoting themselves to society. How can enterprises sign the labour contracts with those elderly employees? This article discusses this issue.

The Problems Of Joint Venture Under Vietnam Competition Law

Các Vấn Đề Của Liên Doanh Theo Luật Cạnh Tranh Việt Nam

The Competition Law 2018 requires a JV satisfying certain notification thresholds to be notified to the competition authority for review. However, the application of the JV concept under the Competition Law 2018 is problematic, as this articles discusses.

The Institutional Representative of the State in a Vietnamese State-owned Enterprise (SOE)

Cơ Quan Đại Diện Chủ Sở Hữu tại Doanh Nghiệp Nhà Nước Việt Nam (DNNN)

Decree 47/2021 implementing the Enterprise Law 2020 and Decree 10/2019 implementing the Law on Management State Capital 2014 provide helpful clarification on the entities which can act as the owner representative agency of the State in a SOE, as explained here.

Vietnam Weekly Update - 3 January 2022

Cập Nhật Hàng Tuần Việt Nam - 3 Thang 01 2022

In this Legal Update: 1) Medical guidelines for COVID-19 prevention and control for people who are allowed to enter Vietnam to work for less than 14 days (short-term work); 2) Social insurance premiums for foreign workers and voluntary social insurance ; and 3) CIT policy for new investment projects.

Vietnam Weekly Update - 28 December 2021

Cập Nhật Hàng Tuần Việt Nam - 28 Thang 12 2021

In this legal update: 1. The labeling of goods, 2. Expenses for making temporary residence cards and visas for foreign employees, 3. Regulations on working time and rest time for employees; and 4. Guidance on tax policy on tuition fees for children of foreign employees working in Vietnam.

Personal Income Tax (“Pit”) And Corporate Income Tax (“Cit”) Treatment For Certain Kinds Of Covid-19 Related Expenses

The General Department of Taxation issued Official Letter No. 4110 on the tax treatment related to Covid-19 expenses, listing out a number of expense items that shall not be taken into account for PIT calculation of the employees whilst being deductible for Corporate Income Tax if supported by legitimate documents,

Vietnam: New regulations on using the official development assistance (ODA) and concessional loans

In this legal update: 1) Some adjustments in subjects, pension benefits, social insurance and monthly allowances, 2) New regulations on using the official development assistance (ODA) and concessional loans from foreign donors.

Draft Decree on Cybersecurity Sanctions

This post will examine the Draft Decree on Penalties for Administrative Violations in Cybersecurity issued for public opinion on 20 September 2021.

Vietnam Weekly Update - 21 December 2021

Cập Nhật Hàng Tuần Việt Nam - 21 Thang 12 2021

In this week’s legal update: 1) Detailed regulations on several articles and measures to implement the Law on Vietnamese Guest Worker; 2) Guidance on tax assessment and overdue tax handling; and 3) Guidance on job protection of whistleblowers who work under labor contracts.