News

NEW REGULATIONS ON THE OFFSHORE-ISSUED BONUS SHARE PLAN

A recent amendment to Vietnam's regulations governing employee stock ownership plans (ESOPs) has significantly simplified the process for foreign entities to offer these benefits to Vietnamese employees. The State Bank of Vietnam's Circular No. 23/2024/TT-NHNN, effective from August 12, 2024, has removed several hurdles, making it easier for companies to implement offshore-issued ESOPs.

VIETNAMESE E-COMMERCE STRUGGLES WITH LAW AIMED AT TAXING ONLINE VENDORS

During the past weeks, a proposed new regulation of Vietnamese tax law has shaken up the local e-commerce industry. Referred to as “Circular 40”, the new regulation moves to shift responsibility for vendors’ tax liabilities arising from sales generated on online platforms to the respective platform operator.

30 Jul 2021

NEW DECREE ON SECURITY FOR PERFORMANCE OF OBLIGATIONS

Decree 21 marks a significant effort of lawmakers in bringing the legislation on security transactions to the next level of maturity. In the context of the legislative incentive to streamline procedures and increase transparency for secured parties, Decree 21 forms an important stepping stone.

30 Jun 2021

VIETNAM AS A CHINA+1 MID/TECH DESTINATION

Why do manufacturers choose Vietnam as their second production market after China? Watch the webinar if you would like to learn more about doing business in Vietnam.

24 Jun 2021

ADMINISTRATIVE VIOLATIONS INVOLVING CULTURAL AND ADVERTISING ACTIVITIES

Decree 38 provides a better scope defining to which entities it applies. It also introduces several more severe penalties for violations related to advertising for certain products, in particular drugs, cosmetics, medical equipment, fertiliser, or healthcare services. Additional penalties, such as revocation of a licence, are introduced as well.

31 May 2021

DRAFT POWER DEVELOPMENT PLANNING 8 OF VIETNAM

The draft PDP8 prioritises renewable energy development and intends to create a more incentivised regulatory framework to boost private-sector investments to connect individual power plants with the national transmission grid. It also lays out significant opportunities for the development of LNG-to-power.

26 May 2021

DATA CENTRES – KEY ISSUES IN VIETNAM

The data centre market in Vietnam is a sector which is attractive for foreign investments. However, it is important to take into consideration certain points, such as data protection, required licences, build vs lease. In case of an M&A there are issues that might have to be considered depending on the type of deal.

24 May 2021

HIGHLIGHTS OF UNITED KINGDOM-VIETNAM FREE TRADE AGREEMENT

After Brexit the UK negotiated an FTA with the Vietnamese government to be able to enjoy similiar or better trade conditions as it would have had under the EVFTA. In this update you can read some notable points. The UKVFTA will enter into force on 1 May 2021.

29 Apr 2021

DECREE 31 GUIDING THE IMPLEMENTATION OF THE 2020 LAW ON INVESTMENT

Decree 31 provides details to implement the new Law on Investment. Note that there will be changes with regard to the approval of the investor and investment policy, investment guarantee, amendment of investment project, escrow deposit, market access and its conditions. In this update we will set out some points that changed compared to the draft decree which was issued last year.

27 Apr 2021

GDPR-LIKE DRAFT DECREE ON DATA PROTECTION INTRODUCED

The draft Decree on Personal Data Protection was recently circulated for public discussion. Many of the draft provisions are similar to those in the European GDPR, addressing matters such as cross-border data transfer and appointment of data protection officers. Fines for non-compliance can reach up to 5% of annual turnover.

26 Mar 2021

DRAFT CIRCULAR GUIDING IMPLEMENTATION LAW ON TAX ADMINISTRATION

The Draft Circular provides guidance on the tax compliance procedure, tax refund, the tax audit process and other tax administration related subjects. The draft is in particular relevant for e-commerce activities and digital-based businesses.

25 Mar 2021

DECREES & CIRCULARS GUIDING THE IMPLEMENTATION OF 2019 LAW ON SECURITIES

Various decrees and circulars were issued to guide the implementation of the Law on Securities which entered into force on 1/1/2021, guidance can be found on derivatives and the derivatives market, conditions to provide securities lending services, stock offered at below par value price, public offerings, administrative penalties, and the supervision of securities trading.

28 Feb 2021

NEW DECREE GUIDING THE IMPLEMENTATION OF THE 2020 LAW ON ENTERPRISES

Decree contains guidelines on a coordinating mechanism for enterprise registration, cooperation related to registration of securities companies and fund management companies, concurrent registration of various points related to the enterprise such as the form or legal rep and additional regulations relating to legal status of enterprises are introduced.