News

DRAFT LAW ON PROCUREMENT

The draft aims to achieve better competitiveness, fairness, transparency, and economic efficiency in the management of the State budget. The selection methods of bidders and investors will be amended as well as the process and procedures to select bidders and investors.

31 Jul 2022

PROPOSED CHANGES FOR DECREE 15/2022/ND-CP ON TAX REDUCTION

Decree 15 has reduced the VAT rate for many goods and services from 10% to 8%. However, the implementation of this has resulted in some additional burden for companies as it is not possible to include different VAT rates in one VAT invoice. The draft decree addresses this issue.

25 May 2022

MANAGEMENT AND USE OF INTERNET DOMAIN NAMES

Circular 21 introduces new domain names: id.vn, io.vn and ai.vn. The first is for individuals only and the other for both individuals and organisations. Upon expiration of a domain name, it will be suspended immediately but it can be renewed within 25 days.

16 May 2022

CHANGES IN PAYMENT, DECLARATION AND FILING REQUIREMENTS FOR CIT AND PIT

The Draft Decree will impact the practice of e-commerce providers about being compliant with tax submissions. Provisional CIT obligations at the end of any calendar year will favourably impact companies with high revenue in the last quarter. Some changes related to PIT are introduced as well.

13 May 2022

CHANGES IN THE COMBAT OF CORRUPTION

The decree results in changes of decisions related to the suspension or temporary reassignment of official duties, the definition of extremely serious cases of corruption has been changed and the periodic relation of office will be applied to more positions.

27 Apr 2022

CIRCULAR 5: RULES OF ORIGIN UNDER RCEP

Circular 5 provides further information on how to define the origin of goods to qualify for reductions under the RCEP. It contains specific provisions on applicable tax differences for beneficiaries of the RCEP, unifying definitions, specifications, requirements, formalities, and tax rates. Thereby facilitating cross-border trade inside the free trade zone, one of the core incentives for RCEP signatories.

24 Mar 2022

PENALTIES FOR ADMINISTRATIVE VIOLATIONS IN SECURITIES SECTOR

Decree 128 on penalising administrative violations in securities and the securities market sector amends some existing penalties and adds a new one as well. Penalties can be given related to issuing shares, selling treasury shares, publishing maximum ownership ratio and the reporting regime.

21 Feb 2022

RESOLUTION 43 – ANALYSIS OF THE POST-COVID ECONOMIC REVIVAL PACKAGE

Resolution 43 sets out the new fiscal and monetary policies to support the Vietnamese program of socio-economic recovery and development. It contains guidance on tax reduction and exemption, steered public investment in various sectors and monetary measures. It will have an impact on businesses and individuals.

28 Jan 2022

ADMINISTRATIVE VIOLATIONS AGAINST PLANNING AND INVESTMENT REGULATIONS

Decree 122 clarifies the definition of organisation, imposes higher administrative penalties for many violations covered by it. It also adds a new sanction for over-declaration of the charter capital.

28 Jan 2022

VIETNAMESE PHARMACEUTICAL MARKET WEBINAR

Vietnamese pharmaceutical sector has grown significantly over the last decade thanks to positive regulatory changes and rising domestic demand. Watch the Vietnamese Pharmaceutical Market Webinar, a part of BritCham Vietnam's Sector-focused Webinar Series, where we discuss opportunities and challenges within the imported pharmaceutical market in Vietnam.

03 Dec 2021

INITIAL OFFERING OF SHARES, MANAGEMENT AND USE OF PROCEEDS FROM SOE EQUITISATION

The circular gives information on who can buy shares (strategic investors, local and foreign investors, employees, trade unions), how shares can be offered (public auction and direct negotiation) and how deposits can be made in foreign currencies. It also contains sample documents.

19 Nov 2021

DECREE 80 ON SUPPORT FOR SMALL AND MEDIUM-SIZED ENTERPRISES

Decree 80 provides more support to women-owned SMEs or SMEs with a high percentage of female employees and social SMEs. New is also that technology and consulting support can be obtained and specific SMEs can qualify for special interest rates.

27 Oct 2021

RESOLUTION 128: FLEXIBLE ADOPTION AND EFFECTIVE CONTROL OF THE PANDEMIC

Directives 15, 16 and 19 no longer provide guidelines in light of COVID-19. Instead, Resolution 128 outlines how services can be provided and businesses can operate. The country will be divided into red, orange, yellow or green zones with connected possibilities and requirements. The provincial People’s Committees are responsible for implementation.