vietnam

Vietnam Weekly Update - 1 November 2021

ập Nhật Hàng Tuần Việt Nam - 01 Thang 11 2021

In this week’s Legal Update: 1) Guidance on the tax declaration of branches located in a different province from the head office; 2) Tax incentive policies; and 3) The entrustment of importing goods for export production.

New public disclosure rules in Vietnam stock markets

Following the issuance of the new Securities Law 2019, in November 2020, the Ministry of Finance issued Circular 96/2020 guiding on disclosure of information on securities market (Circular 96/2020) with effect from 1 January 2021.

Can the parties agree to have a unanimous award in an arbitration agreement?

It is not clear if under Vietnamese law, the parties can agree in an arbitration agreement that the award of the tribunal must be a unanimous award instead of a majority award.

Potential loss of priority upon re-registration of security interest over listed securities with Vietnam Securities Depository

From 1 January 2021, Decree 155/2020 requires securities interests over listed securities to be registered with the Vietnam Securities Depository and Clearing Corporation (VSD). Since security interest over unlisted securities is registered with the National Register Agency of Secured Transactions (NRAST), a re-registration of the security interest with VSD is likely to be required when the unlisted securities become listed.

New regulations on e-commerce activities in Vietnam

n September 2021, the Government issued Decree 85/2021 amending and supplementing some articles of Decree 52/2013 on e-commerce (the E-Commerce Decree). Decree 85/2021 will take effect from 1 January 2022 with substantial changes on the conditions applicable to foreign investors in e-commerce sector.

Vietnam Weekly Update - 25 October 2021

Cập Nhật Hàng Tuần Việt Nam - 25 Thang 10 2021

In this update: 1) The submission of proof of origin of goods applying safeguard measures, 2) Guidance on VAT refund for investment projects, and 3) Guidance on foreign contractor tax policy.

Covid-19 Legislation in Vietnam

In the last few weeks there have been several pieces of legislation passed through the government and various ministries to assist the country and its citizens in their struggle with Covid-19 and the economic fallout of the last several months of lockdown. Described here are outlines of this legislation.

Resolution 406/NQ-UBTVQH15 on tax support measures

On 19 October, the National Assembly approved 406/NQ-UBTVQH15 introducing certain tax policies to support corporate and individual taxpayers impacted by COVID-19.

Vietnam: Several important points of Decree 85/2021/ND-CP on e-commerce

On September 25th, 2021, the Government issued Decree No. 85/2021/ND-CP amending and supplementing a number of articles of Decree No. 52/2013/Nd-CP dated May 16th , 2013, on e-commerce.

Vietnam Updates from ADK - Vol 23: The Government submits to the National Assembly the draft Law on Insurance Business

In this update: 1) Officially promulgate a resolution on tax exemption and reduction for people and businesses affected by the Covid-19 epidemic, 2) The Government submits to the National Assembly the draft Law on Insurance Business, 3) Amendment regulations on grant of special loans to credit institutions placed under special control.

How Vietnamese Laws Control The Related-Party Transactions In Enterprises?

Rrelated-party transactions happen frequently and can cause complications for enterprises. If the enterprise does not have a reasonable control mechanism, the representative can, through the transaction, acquire capital and thereby influence the company’s decisions.

A Guide to the Important Points for Cross-border E-Commerce Providers and Foreign Investors

On September 25, the Government issued decree 85/2021/ND-CP which amends and supplements the existing decree on e-commerce activities in Vietnam. This article discusses who is governed by Decree 85 and what is required of cross-border e-commerce providers.

Decision 29 on special investment incentives

On 6 October, the Government issued Decision 29/2021/QD-TTg on special investment incentives available for R&D and large investment projects specified in the Law on Investment. The Decision took effect on the signing date.

Vietnam: EY Customs Alert No. 03/2021 - Suspension of the post-clearance customs audits in 2021

On 11 October 2021, the General Department of Customs issued an Official letter requesting its Post-clearance Audit Department and provincial customs authorities to suspend, postpone the post-clearance customs audits which had been scheduled to be conducted in 2021, to be resumed after the pandemic.

Vietnam: Changing conditions for businesses to get a loan to pay salaries for work stoppage and restoring production

Update: 1. Changing conditions for businesses to get a loan to pay salaries for work stoppage and restoring production, 2. Guidance of the Ministry of Transport on travel in the context of safe, flexible adaptation and effective control of the COVID-19 epidemic.

Vietnam’s Outward Investment Problem

Again this week a Vietnamese e-commerce company is in the news for receiving multiple millions of dollars in funding from international Venture Capitalists. This article discusses Vietnam's outward/ offshore investment.

Vietnam Updates from ADK - Vol. 22: Ministry of Industry and Trade officially submitted the drafted Power Planning Project VIII to the Prime Minister

In this update: 1) The Ministry of Industry and Trade officially submitted the drafted Power Planning Project VIII to the Prime Minister, 2) Patent protection is supported 30 - 60 million VND per 01 application, 3) COD recognition of wind power projects in accordance with the signed power purchase agreement.

Vietnam Weekly Update - 13 October 2021

Cập Nhật Hàng Tuần Việt Nam - 13 Thang 10 2021

In this week’s legal update: 1) Special investment incentives, 2) VAT policy for fertilizers; and 3) The operating of the petroleum business.

NFT Gaming and Vietnam

A discussion on NFT gaming and Vietnam: Cryptocurrency use for purchasing NFT Gaming Characters, What jurisdiction does Vietnam have over the NFT game, and the ethical question of buying and selling characters.

New Circular guiding the Tax admin law 2019 and Decree 123/2020 on invoices

On 17 September 2021, the Ministry of Finance released new circular 78/2021 guiding certain provisions of the Law on Tax Administration 38/2019 and Decree 123/2020 on invoices and documents. Circular 78 will take effect from 1 July 2022 and taxpayers are encouraged to implement e invoices before this date.