News

FX ADMINISTRATION OF ENTERPRISES’ FOREIGN BORROWING AND DEBT REPAYMENT

Circular 12 regulates various matters on foreign borrowing and debt repayment, such as the registration procedure of the enterprise’s foreign loan without a Government guarantee, opening and use of accounts for foreign borrowing and debt repayment, and reporting regime related to the enterprise’s foreign loan.

30 Nov 2022

WEBINAR: WHAT TO DO WHEN YOU RECEIVE A FORCE MAJEURE NOTICE?

If you could not join the webinar on 'What to do when you receive a Force Majeure Notice?' please read the slides presented by Minh Nguyen, Senior Associate and Head of Dispute Resolution Practice at the webinar organised by the Society of Construction Law as one of the four experts or watch the presentation.

27 May 2020

DRAFT RESOLUTION TO SUPPORT BUSINESSES AFTER COVID-19 PANDEMIC

The draft resolution contains measures related to tax, loans, labour, import & export, incorporation and business promotion that will support businesses and individuals to cope with the negative impact of the Covid-19 pandemic. This further to measures that have already been taken, such as the ones set out in Decree 41.

25 May 2020

RENT SUSPENSION CLAUSE AS SOLUTION TO LEASE ISSUES RESULTING FROM COVID-19

During the past weeks, businesses were forced to suspend their operation or could not use their offices, but they had to pay rent, nevertheless. In this update a solution to address lease issues will be introduced.

15 May 2020

DECREE 35 PROVIDES GUIDANCE ON THE COMPETITION LAW

Decree 35 provides detailed guidance on, amongst other things, how to determine relevant market and market share, the specific threshold figures for economic concentration notification, the anti-competitive effects, and market dominance based on significant market power; and gives a definition of controlling or influence for merger control purposes.

30 Apr 2020

DEFERRAL OF TAX AND LAND RENT PAYMENT TO SUPPORT BUSINESSES DURING COVID-19 EPIDEMIC

Decree 41 serves to support companies during the Covid-19 Epidemic. It sets out which taxes (VAT, CIT, PIT) and land rent can be deferred for how long and in which sectors. It is worthwhile to be aware that the tax authorities may not agree with deferral as requirements are not met and penalties might apply. Furthermore, if the fiscal year is not the same as a calendar year it is not clear if deferral will be possible.

10 Apr 2020

BUSINESS CONDITIONS ON TRANSPORTATION SERVICES REDEFINED

The long-awaited Decree 10 sets out several business conditions applicable to a transportation business by vehicles. These businesses include the app-based taxi services provided by Grab and Be. The discussion that has been going on for a long time on the type of services they provide has probably come to an end.

30 Mar 2020

IMPACT OF CORONAVIRUS OR 2019-NCOV EPIDEMIC

A substantial amount of information has been shared on the economic impact of the Corona virus, however, what does it mean for your business from a legal perspective. In this update we will set out some issues you might have to consider in light of the Labour Code as well as the Civil Code in connection with the steps taken by the Government.

20 Feb 2020

FOCUS NEW LAW ON TAX ADMINISTRATION ON GOVERNANCE AND ENFORCEMENT

The law will also impact e-commerce activities of offshore entities; and introduces new definitions. Finally, legal reps need to be aware that they can be prevented from exiting Vietnam when the company has not paid due taxes. Please note that 6 months remain to take measures to remain compliant.

30 Jan 2020

NEW LABOUR CODE MORE IN LINE WITH INTERNATIONAL LAWS

The new Labour Code includes substantial changes to recognise the evolution of labour relationships under the impact of the Industrial Revolution 4.0. Important is also that the draft for the first time contains a definition of sexual harassment, which is already prohibited under the current Labour Code.

15 Jan 2020

2019 LAW ON SECURITIES EXPECTED TO DEVELOP VIETNAM’S SECURITIES MARKET

The 2019 Law on Securities for the first time ever mentions foreign investors' participation on the securities market. The law also amends and adds definitions, and separates the initial and additional public offering. Furthermore, the conditions for both public and non-public offerings will be tightened, and the maximum fine will be increased.

31 Dec 2019

EASIER TO SWITCH TO CORRECT VISA FOR FOREIGN INVESTORS AND JOB FINDERS

As of 1 July 2020 it will become easier to switch to a different type of visa for foreign investors and job-finders who entered the country on a tourist visa. There will also be more types of visa available for foreign investors and duration depends on investment but can be up to 10 years.

30 Dec 2019

DECISION 26 TO SPEED UP EQUITISATION AND DIVESTMENT

Decision 26 is expected to speed up the equitisation of SOEs and divestment of State capital to create a level playing field for business entities, generate funds for infrastructure projects and comply with international commitments and free trade agreements.