vietnam

Conditions For Enjoying Tax Incentives Of FDI Enterprises

According to Article 15.2 of the Law on Investment 2020 to enjoy investment incentives in general and tax incentives in particular, FDI enterprises (foreign direct investment) need to meet certain conditions.

Some Notes On Consumers’ Rights Protection

In this update: What acts are prohibited by organizations or individuals trading in goods and services, and Responsibilities of organizations or individuals trading in goods and services.

Updated list of domestically manufactured goods - effective from October 2021

The Ministry of Planning and Investment issued Circular 05 setting out the machinery, equipment, spare-parts, means of transport for special usage, raw materials, supplies, and semi-finished products that can be produced domestically. This list is the basis for companies to access the duty-exemption and not-subject-to-VAT schemes applicable to goods which are not yet manufactured in Vietnam.

A Year of Legal Developments in Vietnam

The past 12 months have seen a slew of changes to Vietnam’s laws. There have been some major developments that affect investors and businesses as well as employment relationships.

Vietnam Weekly Update - 6 September 2021

Cập Nhật Hàng Tuần Việt Nam - 6 Thang 9 2021

In this update: Implementing the plan to support electricity bill reduction and electricity price reduction for electricity users, Guidance on the application of PIT on mid-shift meal payment for employees; and VAT rates.

Inextricably Linked: Immigration, Employment Law and Personal Tax

COVID-19 continues to present significant challenges around the world and the disruption continues to evolve. During this pandemic, apart from the wellbeing impact that COVID-19 has on workforces, employment tax and legal implications, as well as immigration related matters due to restrictions on the people’s mobility can be complex. What are the tax, labour, immigration considerations when an individual is relocating to Vietnam for an assignment or when an individual is repatriating from Vietnam? What about employees who are stranded in or outside Vietnam.

Raising operating capital of a general finance company

Under the Credit Institutions Law 2010, a finance company is permitted to raise operating capital under various forms provided that such forms of capital raising are clearly specified in the finance company’s establishment and operation license.

Foreign governing law for contracts between foreign-owned companies in Vietnam

For contracts between a foreign-owned company (i.e., companies which are owned and controlled by foreign investors) and other companies in Vietnam, the default position is that Vietnamese law is the governing law. However, there are certain arguments or mechanisms to allow the parties to choose foreign governing law.

Applicability of Vietnam Anti-Money Laundering Law (AML) to offshore financial institutions

It is not clear from the Anti Money Laundering Law 2012 and its implementing regulations if the term “licenced” refers to the finance organisations licensed by an authority of Vietnam or also includes foreign finance organisation licensed by a foreign authority.

Vietnam Weekly Update - 30 August 2021

Cập Nhật Hàng Tuần Việt Nam - 30 Thang 8 2021

On this week’s Legal Update, we will lead you explore 3 following issues: Establishment of a domestic advisory group (DAG) in Vietnam, The declaration of goods after 30 days; and VAT when transferring part of the project.

Comparison Between Institutional Arbitration And Ad Hoc Arbitration

In this update: Comparison Between Institutional Arbitration And Ad Hoc Arbitration. Regulation arbitration and ad hoc arbitration have some main differences, as set out in the table in this update.

Forms And Modes Of Bidding For Goods Or Services

This update sets out the forms And modes Of bidding for goods and services pursuant to the provisions of Articles 215 and 216 of the Commercial Law 2005.

Advertising In Printed Newspapers And Some Notable Points

This update discusses general conditions for advertising and specific conditions for newspaper advertising, according to the provisions of Consolidated Document No. 47/VBHN-VPQH.

Procedures For Insurance Of Electricity Activity License

This update covers the processes and procedures for granting electricity activity licenses to enterprises.

Vietnam Weekly Update - 23 August 2021

Cập Nhật Hàng Tuần Việt Nam - 23 Thang 8 2021

In this update: Conditions for obtaining tax incentives for expanded investment projects, Guarantee for business investment of investors upon changes of laws; and Derivatives and derivatives market.

Vietnam Leads Cryptocurrency Adoption

Three plausible reasons why Vietnam may lead in cryptocurrency adoption including distrust in the Vietnamese Dong and the Veitnamese may be seeking an asset that holds value more securely than cash.

Updates on entry approval to Vietnam during COVID-19 and mandatory quarantine period

The National Steering Committee for COVID-19 Prevention and Control issued Official Letter 5322/CV-BCD dated 5 July 2021 providing new guidance on Vietnam entry approval for qualified individuals.

Is VNDC a Stablecoin for Vietnamese Investors?

VNDC is a stablecoin pegged to the Vietnamese Dong but it is not a Vietnamese cryptocurrency, it is owned and controlled by a holding company in Singapore. The VNDC stablecoin is a foreign cryptocurrency that is targeted to Vietnamese citizens and its primary webpage is in Vietnamese.

Vietnam Weekly Update - 16 August 2021

Cập Nhật Hàng Tuần Việt Nam - 16 Thang 8 2021

On this week’s Legal Update, we will lead you explore 3 following issues: Regulation on electricity price; PIT of Covid-19 testing expenses; and Deploying online public services to support employees, employers facing difficulties due to the Covid-19 pandemic on the National Public Service Portal.

Short-Term Foreign Loans For Paying Salary – Some Issues Should Be Noted

Paying salary for employees is required by the Law. To resolve the current difficulties, many FDI enterprises find financial sponsorship from the short-term foreign loans without the Government’s guarantee. However, they have also been met a dilemma due to unclear regulations.