Updates
Vietnam: Revocation of Certificate of Food Safety Compliance for Establishments
- Apolat Legal
The Ministry of Health issued Circular 31/2023/TT-BYT which took effect on February 15, 2024, regulating the authority to revoke certificates of eligibility for food safety conditions under the Ministry of Health’s management.
Vietnam: New Law on Credit Institutions - Remarkable Changes
- RHTLaw Vietnam
The National Assembly of Vietnam adopted the new Law on Credit Institutions in January 2024 which is scheduled to come into effect on 1 July 2024. This legislative update aims at preserving stability, transparency, and public confidence in the Vietnamese financial system.
Vietnam: Tax and Transfer Pricing Aspects of Providing Intragroup Management Services
- DFDL Vietnam
Intra-group management services are a controversial and highly debated tax issue in Vietnam. This article discusses Vietnam’s Benefits Test, pricing for intragroup services, relief under tax treaties, deductibility of intra-group management service fees, and practical tips and recommendations for taxpayers to manage Vietnamese tax risks.
Vietnam: Mazars IFRS Newsletter – December 2023
- Mazars Vietnam
In this update: 1) IFRS will impact many areas of your company’s business beyond the accounting and finance departments, and 2) The adoption of IFRS brings with it threats, but also presents opportunities.
Vietnam: Comments on New Law on Real Estate Business 2023 – Part 2
- Venture North Law Firm
In this article, we continue discussing the new changes introduced by the Real Estate Business Law 2023.
Vietnam: Co-Location and Convergence - Telecoms under Vietnam’s Amended Law on Telecommunications
- DFDL Vietnam
On 24 November 2023, the Vietnamese National Assembly passed the Law on Telecommunications No. 24/2023/QH15, governing telecommunications activities, the rights and obligations of individuals and entities engaged in telecommunications activities, and the state management of the telecommunications sector.
Vietnam: Circular 19 - Pricing mechanism for new solar and wind power projects
- Allens Vietnam
Ever since feed-in tariffs (FiTs) expired for solar power projects (31 December 2020) and wind power projects (31 October 2021), the Vietnamese Government has prevaricated over the legal framework. The recent Circular 19 lays the groundwork for the post-FiT reality for solar and wind power projects.
New Law on Credit Institutions 2024 (Part 1)
- Venture North Law Firm
On 18 January 2024, new Law on Credit Institutions (LCI 2024) has been passed by the National Assembly. LCI 2024 will replace the Law on Credit Institutions 2010 (as amended) (LCI 2010) from 1 July 2024. In a series of posts, we will introduce the new changes of LCI 2024.
Vietnam: E-signatures of individuals under the Law on E-Transaction 2023
- Venture North Law Firm
On 22 June 2023, the National Assembly passed a new Law on Electronic Transactions, set to be effect from 1 July 2024. The new Law introduces significant changes regarding the use of e-signatures by individuals as outlined in this update.
Vietnam: Notable changes under the Law on Real Estate Business 2023
- PwC Legal Vietnam
The National Assembly has passed the Law on Real Estate Business No. 29/2023/QH15 (“LOREB 2023”) which will become effective on 1 January 2025 and replace the current Law on Real Estate Business.
Vietnam: Customs & Global Trade Updates - January 2024
- EY Vietnam
This update covers: Decree on VAT reduction for the first 6 months of 2024, Switzerland officially abolishes import duty on industrial products, The Ministry of Industry and Trade issued a List of potentially unsafe products and goods, and Official Letters (OLs) on: 1) Guidance on the application of VAT reduction at importation, 2) The issuance of electronic Certificates of Origin (e-C/O), 3) C/O Form D verification website The State inspection for Food Safety and Hygiene (FSH) of imported goods, and others.
Vietnam: Progresses with Personal Data Protection Law
- KPMG Law Limited
After the issuance of the Personal Data Protection Decree in 2023, Vietnam’s Ministry of Public Security is currently spearheading the development of a comprehensive Personal Data Protection Law, aiming to harmonize data protection regulations and bring them in line with global standards.
Vietnam: An In-depth Look into the New Law on Telecommunications of Vietnam
- KPMG Law Limited
On 24 November 2023, Vietnam’s National Assembly promulgated Law No. 24/2023/QH15 on Telecommunications, replacing the Law No. 41/2009/QH12 on Telecommunications dated 23 November 2009, aiming to introduce a new and updated version that is better aligned with the present digital economy.
Vietnam: Legal Update On The New Law on Housing
- KPMG Law Limited
On 27 November 2023, the National Assembly adopted a new Law on Housing which supersedes the former Law on Housing 2014. In this legal alert, we will discuss the key features of the New Law that may have an impact on the rights of land users in the private sector, particularly in relation to foreign-invested enterprises.
Vietnam: Unveiling Vietnam’s Latest Real Estate Business Law: Key Regulations, Changes, and Implications
- Indochine Counsel
The new Law on Real Estate Business is expected to address the shortcomings of the existing Law on Real Estate Business of 2014 and ensure alignment with the other relevant laws, such as the new Housing Law, the new Land Law, and the 2020 Investment Law. This article briefly summarizes some of the most worth mentioning new regulations and changes.
Vietnam: Officially impose global minimum tax from fiscal year 2024
- Apolat Legal
Global minimum tax issues: Official imposition of the global minimum tax from fiscal year 2024, Regulations on declaring, paying and managing taxes, update regarding the liability reduction during the transition period for fiscal years.
Vietnam: Amending regulations on awarding shares in indirect foreign portfolio investment activities
- Apolat Legal
In this update: 1) The definition ‘’Organization executing the program that awards shares issued in foreign nation’’ is amended in Article 3, Circular 10/2016/TT-NHNN, 2) Circular 10/2016/TT-NHNN supplementing regulations on implementation principles related to the purpose of the share awarding program.
Vietnam: The draft regulations require digital platforms to register form contracts
- Apolat Legal
The Ministry of Planning and Investment is publishing a draft Decree regulating the conversion of state-owned companies established and operating under the Law on State Enterprises into single-member limited liability companies organized and operated in accordance with the Law on Enterprises.
Vietnam: New Law on Telecommunications
- KPMG Law Limited
On November 24th, 2023, Vietnam's National Assembly enacted the new Law on Telecommunications (Law No. 24/2023/QH15), replacing the outdated 2009 law. This updated framework aims to align with the evolving digital economy, impacting data centers, cloud computing, OTT communication services, telecoms wholesale, among others.
Vietnam: Legal Framework for PPP Contracts
- LNT & Partners
The number of public-private partnership (PPP) projects in Vietnam remains relatively low, including those related to solid waste management. To address this challenge, the National Assembly of Vietnam passed the Law on Public-Private Partnership Investment on 18 June 2020, commonly referred to as the "Law on PPP".
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