Updates
Vietnam: Resolution on Global Minimum Tax
- KPMG Law Limited
The National Assembly of Vietnam has passed a Resolution in respect of the OECD’s Pillar Two Model Rules. The Resolution will come into effect from 01 January 2024. The Resolution requires large multinational groups to pay a global minimum corporate income tax of 15% on profit in each jurisdiction.
Vietnam: Regulations on Credit Institutions and Foreign Labour
- ADK Lawyers
In this newsletter: New regulations on credit institutions, the deadline for reporting on foreign labour and other legal instruments.
Vietnam: Unlocking Opportunities Real Estate Project Investors Regain Power to Raise Capital
- LNT & Partners
On 23 August 2023, the State Bank of Vietnam issued Circular No. 10/2023/TTNHNN suspending the enforcement of certain provisions of Circular No. 39/2016/TT-NHNN, which was itself amended and supplemented by Circular No. 06/2023/TT-NHNN (Circular 06). Accordingly, the SBV has suspended the enforcement of clauses 8, 9, and 10 of article 8 of Circular 06 concerning non-eligible loan capital.
Mazars In Vietnam Newsletter - Tax & Legal Update - Issue November 2023
- Mazars Vietnam
In this update: Value Added Tax, 2. Corporate Income Tax, 3. Personal Income Tax, 4. Foreign Contractor Tax, 5. Decision 25/2023/QD-TTg dated 3 October 2023 of the Prime Minister on reducing land rental fee in 2023
Vietnam: Intra-group restructuring transactions and their potential tax implications in Vietnam
- Grant Thornton Vietnam
In the face of globalisation, groups of companies operating internationally often find themselves with complex corporate structures. Therefore, intra-group restructuring may need to take place to improve administrative, operational, and economic efficiency.
Vietnam: New Law on E-Transactions Passed To Boost Digital Transformation in Vietnam
- RHTLaw Vietnam
After 18 years since the first Law on E-Transactions was adopted paving the way for technology development in Vietnam, the National Assembly passed the new Law on E-Transactions No. 20/2023/QH15 in June 2023. This new Law on E-Transactions will supersede the existing law from 1 July 2024 and aims at addressing inadequacies under the current legal framework and promoting digitalization in Vietnam.
Vietnam: Amendments to Regulations on Recruitment of Foreign Employees
- RHTLaw Vietnam
On 18 September 2023, the Government promulgated Decree No. 70/2023/ND-CP which took effect on the same day. This Decree brought about a number of significant amendments to Decree No. 152/2020/ND-CP, which governed the recruitment of foreign employees in Vietnam. Please visit RHTLaw's Legal Updates here for notable details about this new Decree
Vietnam: New draft decree details regulatory framework for sea survey rights
- Allens Vietnam
The latest draft regulations dealing with allocation of sea areas for marine resource exploitation and use are of keen interest to the many potential investors in Vietnam's nascent offshore wind power industry. In this Insight, we analyse important changes to Decree 11 in relation to sea use rights.
Vietnam: E-Money Transfer Report: Sums Determined for Local Transfer
- LNT & Partners
On 28 July 2023, the State Bank of Vietnam introduced Circular No. 09/2023/TTNHNN (Circular 09), which came into force on 27 July 2023. Circular 09 guides the implementation of Vietnam's recent Law on Anti-Money Laundering, passed in 2022. This article looks at the recent legislation. AML Law). C
Vietnam: Decree 35/2023/ND-CP: Transforming the Construction, Architecture, and Real Estate Sectors in Vietnam
- LNT & Partners
Vietnam's construction, architecture, and real estate sectors are poised for transformation with the implementation of Decree 35/2023/ND-CP dated 20/6/2023. In this article, we delve into the key provisions of Decree 35 and their implications for the development of the construction, architecture, and real estate sectors in Vietnam.
Vietnam: Grant Thornton Tax Newsletter - October 2023
- Grant Thornton Vietnam
In this newsletter, Grant Thornton Vietnam would like to update readers on the relevant legal policies and guidelines in the field of Social Insurance and Labor, Invoices, Land rental fee, Taxes, and Cyber Security recently issued.
Vietnam: Difficulties In Dealing with the Administrative Procedures under Personal Data Protection Decree
- Venture North Law Firm
Decree 13/2023 on Personal Data Protection (PDPD) has resulted in questions among legal professionals in Vietnam as well as the cold hard realities of the difficulties in fulfilling even the basic administrative procedures under PDPD. This update discusses these difficulties.
Vietnam: Re-Authorisation Of Signing Authority By Legal Representative
- Venture North Law Firm
This update discusses the issues on whether the legal representative can re-authorise his/her signing authority to another person to sign an agreement approved by the Board if he/she is authorised by the Board to sign this agreement.
Vietnam: No clear legal basis for controlling annual credit growth by Vietnamese credit institutions
- Venture North Law Firm
In practice, annually, the State Bank of Vietnam allocates annual credit growth limits to each credit institution including the finance company. In September 2022, it was reported that the SBV should use its ranking system to decide to allocate credit growth limits to each credit institution.
Vietnam: KPMG Technical Update - November 2023
- KPMG Law Limited
In this update: Circular No. 16/2023/TT-BYT on marketing authorization registration of drugs, Decree No. 65/2023/ND-CP of the Government on measures to enforce Law on Intellectual Property regarding industrial property, and Official Letter No. 4040/TCHQ-GSQL on the conditions for inspection and supervision of the export processing enterprise.
Vietnam cross-border lending guide
- Allens Vietnam
The legal landscape on cross-border lending has recently undergone significant changes. We also address recurrent challenges encountered by foreign lenders and domestic borrowers in their transactions.
Vietnam: Data Center and Cloud Computing Services in Vietnam – Navigating the Current and Future Regulations (Part 1)
- KPMG Law Limited
While Vietnam's Data Centre and Cloud Computing Services are experiencing strong growth, the lack of a solid legal framework in this area has caused difficulties for investors in their market entry and operations. The government's legislative efforts will be discussed in this article.
Vietnam: Recognition And Enforcement Of Awards Of Foreign Arbitrators In Vietnam – In Practice
- Dentons Luat Viet
In foreign arbitration, the party winning the case may not be the eventual winner. This paradox comes from the requirement that any award of foreign arbitrators must go through the procedure of recognition and enforcement at a competent Vietnamese Court before it can be executed in Vietnam, as discussed in this update.
Vietnam: Transfer of Capital in Foreign Invested Enterprises
- ADK Lawyers
The transfer of capital in an FIE arises when an investor whose name is on the contributed capital of the enterprise demands to transfer part or all of their contributed capital to another investor. This transfer will lead to a change in the name of the person named or in the percentage of contributed capital in the enterprise, or both of the above.
Vietnam: Decree 35 - Transforming the Construction, Architecture, and Real Estate Sectors in Vietnam
- LNT & Partners
This Decree introduces a series of comprehensive changes aimed at streamlining administrative procedures, embracing technology, and enhancing efficiency in these vital industries. In this article, we delve into the key provisions of Decree 35 and their implications for the construction, architecture, and real estate sectors.
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