To use Legal Centric's advanced search and filtering tools please Login or start a Free Trial


Vietnam: What are OTC and ETC drugs?

In Vietnam, the primary channels for medicine distribution are over-the-counter (OTC) and essential therapeutic care (ETC) drugs. According to Vietnam Credit's Overview of Vietnam's Pharmaceutical Industry, ETC channels constitute 70% of the medicine market, with OTC channels making up the remaining 30%.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Vietnam: Possibility to apply term deposit interest to security deposit (ký quỹ)

At law, enterprises engaging in certain special business lines (e.g. labour outsourcing service, employment services, etc.) are required to place a security deposit at a licensed bank in Vietnam before conducting the relevant businesses. The Security Deposit is subject to strict control regulations.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Vietnam: The implications of the upcoming VAT reduction in 2024

In 2022 and 2023, due to the severe impact of COVID-19, the Vietnamese government issued Resolution 43/2022/QH15, to reduce the VAT rate from 10% to 8%. These adjustments had a notably positive impact on both consumers and businesses in the market. And on November 29, 2023, the National Assembly approved a 2% reduction in VAT for specified groups of goods and services from January 1, 2024, to June 30, 2024.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Vietnam: Official imposition of global minimum tax from fiscal year 2024

The National Assembly passed Resolution No. 107/2023/QH15 on the application of additional corporate income tax according to regulations to prevent global tax base erosion, according to which the global minimum taxpayer is a constituent unit of a multinational corporation with revenue in the consolidated financial statements of the ultimate parent company for at least 02 of the 04 years immediately preceding the fiscal year equivalent to 750 million euros (EUR) or more, except in the following c

  • 28 January 2024
  • Vietnam
  • Legal Updates

Vietnam: EPR regulations: Recycling responsibilities applicable from 2024

The 2020 Environmental Protection Law and its implementing Decree 08 introduced the concept of Extended Producer Responsibility. Although waste treatment responsibilities have been applicable from the effectiveness of Decree 08 in 2022, recycling responsibilities will now also apply according to a roadmap starting from 2024.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Vietnam: Are representations and warranties considered as obligations under Vietnamese law?

Representations and warranties constitute an important building block in a contract. Unfortunately, Vietnamese contract law does not have a separate regime on representations and warranties. Accordingly, this gives rise to various questions concerning representations and warranties under Vietnamese law.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Vietnam: Decree 77 on imported refurbished goods under CPTPP

KPMG would like to share the very recent updates Decree 77/2023/ND-CP governing the management of importing refurbished goods under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which shall come into force starting from 01 January 2024.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Mazars Vietnam Newsletter - January 2024

In this newsletter: Decree 94/2023/ND-CP stipulating the VAT reduction policy for the first 06 months of 2024, Official Letter 5435/TCT-CS guiding where the VAT rate cannot be determined, Official Letter 3142/CTTPHCM-TTHT guiding regulations on offsetting overseas profit remittance, Official Letter 5081/CTBNI-TTHT on the timing of export revenue recognition, and Official Letter 5114/TCT-CST on the transfer of capital between companies within the same Group.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Circular 01/2024/TT-BCT On Amending And Supplementing A Number Of Articles Of Circular No. 21/2016/TT-BCT Dated 20 September 2016 Of The Minister Of I...

1 MINISTRY OF INDUSTRY AND TRADE ------- SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness --------------- No. 01/2024/TT-BCT Ha Noi, 15 January 2024 CIRCULAR ON AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF CIRCULAR NO. 21/2016/TT-BCT DATED 20 SEPTEMBER 2016 OF THE MINISTER OF INDUSTRY AND TRADE STIPULATING THE IMPLEMENTATION OF RULES OF ORIGIN IN THE FREE TRA

  • 28 January 2024
  • Vietnam

Vietnam: Further Guidelines On Drug Labels and Instructions for use of Medicine

On 30 November 2023, the Ministry of Health promulgated Circular No. 23/2023/TT-BYT which becomes effective on 15 January 2024. This Circular introduces a number of noteworthy amendments to Circular No. 01/2018/TT-BYT regulating the labelling drugs.

  • 28 January 2024
  • Vietnam
  • Legal Updates

Cookies On
Our Website
We use cookies on our website. To learn more about cookies, how we use them on our site and how to change your cookie settings please click here to view our cookie policy. By continuing to use this site without changing your settings you consent to our use of cookies in accordance with our cookie policy.