Updates
Vietnam: Recent VAT Developments in Vietnam
- Legal Centrix
The National Assembly of Vietnam has approved a new Law on Value Added Tax, which will take effect on July 1, 2025. Additionally, a resolution has been passed to extend the reduced VAT rate of 8% for the first half of 2025, covering the period from January 1 to June 30, 2025.
Vietnam: New Amendments to Law on Investment
- DFDL Vietnam
On November 29, 2024, the National Assembly enacted the Law amending several articles of the Law on Planning, the Law on Investment, the Law on Investment under the Public-Private Partnership Model, and the Law on Bidding.
Vietnam: New Regulations on Environmental Protection Fees on Exhaust Gas Emissions have been Promulgated
- DFDL Vietnam
Decree No. 153/2024/ND-CP, which governs the environmental protection fees on exhaust gas emissions, was issued by the Government of Vietnam on November 21, 2024. This new regulation will take effect from January 5, 2025. Emission-discharging facilities in all parts of Vietnam will be impacted by this law.
Vietnam: Decree 180 On Reduction Of % Value-Added Tax In The First Half of 2025
- KPMG Law Limited
On 30 November 2024, the National Assembly has passed Resolution No. 174/2024/QH15, covering in which the provision on continuing to reduce the value-added tax rate by 2% for groups of goods and services specified in Resolution No. 43/2022/QH15 during the period from 1 January 2025 to 30 June 2025.
Vietnam: The board’s role within merger and acquisition goals
- Grant Thornton Vietnam
Vietnam’s M&A market recorded a deal value of $3.2 billion in the first nine months of 2024, representing less than 50 per cent of the total for 2023. However, it's too early to conclude a decline for the full year 2024. Compared to the same period in 2023, this figure marks a 45 per cent increase, signaling a potential for dealmakers to drive momentum in the fourth quarter.
Vietnam: Implementation Plan for the National Power Development Plan VIII of Vietnam
- Lexcomm Vietnam LLC
Following the issuance of the National Power Development Plan VIII (PDP8) on 15 May 2023, the Vietnam Prime Minister, on 01 April 2024, approved Decision No. 262/QD-TTg with immediate effect, laying down the Implementation Plan for the PDP8 (Implementation Plan). This is the first in the 2-plan proposal from MOIT to the Prime Minister for PDP8
Vietnam: More Requirements on Internet Service and Online Information
- DFDL Vietnam
The Government of Vietnam has officially issued Decree No. 147/2024/ND-CP on the management, provision, and use of internet services and online information. This new regulation, dated 9 November 2024, will take effect on 25 December 2024, replacing the earlier Decree No. 72/2013/ND-CP.
Vietnam: New Draft Law Aiming At Unifying Data Protection Legislations In Vietnam
- RHTLaw Vietnam
The draft Law on Personal Data Protection (PDPL) has been made available for public consultation, introducing a more thorough legal regime regulating the data collection and process by individuals and organizations throughout various industries such as marketing, advertisement, AI, banking, finance and insurance.
Vietnam: Proposed resolution for extending the 2% VAT Rate reduction for the first half of 2025
- PwC Legal Vietnam
On November 12, 2024, the Government issued Resolution 218/NQ-CP. Pursuant to the directives of Resolution 218/NQ-CP, the Ministry of Finance has prepared a draft Resolution proposing a 2% reduction in Value Added Tax (VAT) for the first half of 2025, which is to be submitted to the National Assembly during its 8th Session.
Vietnam: Import duty treatment of Vietnamese goods exported to bonded warehouses and re-imported into the domestic market
- PwC Legal Vietnam
On 24 October, the General Department of Customs issued official letter no. 5177/TCHQ-GSQL guiding provincial customs departments on the requirements for assessing special preferential import duty rates within the framework of Free Trade Agreements of which Vietnam is a member, for Vietnamese goods exported to bonded warehouses and then re-imported into the domestic market.
Vietnam: Simplifying Foreign and Domestic Investment in the Education Sector
- KPMG Law Limited
On 5 October, the Vietnamese Government, issued Decree 124/2024/ND-CP and Decree 125/2024/ND-CP. Effective from the 20 November 2024, these decrees bring significant updates to regulations governing both foreign and domestic investments in Vietnam's education sector.
Registration for stock mortgage at the Vietnam securities depository and clearing corporation
- Apolat Legal
In the context of an increasingly advanced financial market, the mortgage of stocks by shareholders of joint-stock companies has become a crucial tool for capital raising and financial management. This article will examine the concept of stock mortgage and the regulations for registering mortgages of stocks at the Vietnam Securities Depository and Clearing Corporation.
A resale fixed price agreement between a supplier and its distributors considered an anti-competitive agreement prohibited by law
- Apolat Legal
Certain agreements between suppliers and distributors regarding pricing may negatively impact market prices and consumer rights, potentially violating competition laws. This article will analyse the provision of law related to the prohibited agreement on resale fixed price between suppliers and distributors, as well as the respective penalties.
Vietnam: More Favourable Conditions for Foreign Investors in the Vietnamese Stock Exchange – Opening and Using Vietnam Dong Accounts
- DFDL Vietnam
The State Bank of Vietnam (SBV) has recently released a draft Circular outlining proposed regulations for the opening and use of Vietnam Dong bank accounts by foreign investors engaging in indirect investment activities (“Draft Circular”). This initiative aims to streamline and standardize the management of foreign indirect investment in Vietnam.
Vietnam: New regulations on bank guarantees for off-plan housing, Circular 49/2024/TT-NHNN
- Global Vietnam Lawyers
This newsletter provides an update on bank guarantees for off-plan housing; information disclosure regime of bond-issuing enterprises; and Voluntary occupational accident insurance regime for employees working without a labour contract.
Vietnam: Draft Law On Personal Data Protection – Key Updates Compared To Decree No. 13/2023/ND-CP
- LNT & Partners
Te Government has recently introduced the Draft Law on Personal Data Protection, aiming to establish a comprehensive legal framework to address the limitations of Decree No. 13/2023/ND-CP, effective as of 1 July 2023, and respond to practical requirements for personal data management.
From 01/08/2024, many new policies to ensure low-income individuals access to social housedi officially take effect
- Apolat Legal
Due to the importance of this social housing policy, the Housing Law 2023 (effective from August 1st, 2024) has been supplemented with many new policies to ensure the rights of people entitled to this policy.
Social insurance obligations during the probation period stipulated in an employment agreements
- Apolat Legal
Pursuant to the applicable Labor Code, the Employers and the Employees can agree on the terms of the probation period in the employment agreement or through a separate probationary contract. This article discusses probation period regulation.
Why are some industrial designs terminated even after being granted protection
- Apolat Legal
In Vietnam, the process of registering an industrial design is not overly complex; however, there are cases where industrial design protection may be terminated after being granted due to failure to meet certain conditions. In this article, Apolat Legal will introduce the conditions for protecting industrial designs and provide information on cases where industrial designs have been terminated in practice.
Chinese investors production activities of beds, cabinets, tables and chairs in Vietnam
- Apolat Legal
In order for Chinese Investors to invest in the production of beds, wardrobes, tables, and chairs in Vietnam, Investors need to pay attention to, specifically, to the two main issues set out in this article: Production and business location and investment capital level.
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