The Draft Law on E-Transactions provides a new definition and new requirements for digital platforms, expands the scope of application, contains a provision on the data protection in e-transactions and finally, clarifies the application of electronic agreements and signatures.
Several tax-related draft decrees are expected to be approved shortly. In January 2022, the Government promulgated Decree on tax exemption and reduction. A Draft Decree to remedy some issues of Decree 15 is pending. In February 2022, the Ministry of Finance of Vietnam released a Draft Decree on tax administration amending some articles of Decree 126/2020 guiding the Law on Tax Administration and Decree 123/2020 on invoices.
The Draft Law on the protection of Consumers' Rights will be more in line with the requirements of international treaties. The protection of vulnerable consumers’ rights is one of the new regulations introduced by the Draft Law. It also contains various parts related to the protection of personal data of the consumer.
Due to COVID-19 the courts in Vietnam had to move to virtual hearings. In this update, you can find more information on the requirements. There are rules for pre-hearing plan, scope, and logistic issues, technical specifications and requirements, online etiquette and due process.
ACSV Legal contributed to the Legal 500 Country Comparative Guides 2022, Vietnam chapter on Labour & Employment. Read the latest information on laws and regulations and the most frequently asked questions related to labour and employment, with a focus on COVID-19 issues in Vietnam in 2021 1n 2022.
The Draft Decree amends and supplements the current Decree 86. It provides details on the eligibility of the partnership for foreign investors, the capital plan, specific requirements to issue an IRCs and business licence as well as the information provision of the parties in the joint partnership.
This update outlines the legal framework for taking out security in Vietnam. It examines the most used contractual structures, security assets, and typical enforceability issues when setting up a credit facility with a Vietnamese borrower. It also provides a high-level summary of the security vehicles available under Vietnamese law and touches on the most important structures and prevalent legal issues when taking out security in Vietnam.
In this Draft Decree administrative penalties for cybersecurity violations are set out. It will likely enter into force early 2022 and together with the draft decree on personal data protection it will form the cybersecurity regime in Vietnam and is influenced by the European Union's General Data Protection Regulation.
This new regulation provides guidance on the obligations of organisations and individuals engaged in foreign investment activities in the Vietnamese securities market. Circular 51 came into effect on 16 August 2021, replacing Circular 123/2015/TT-BTC (Circular 123). In this legal update, we will discuss the highlights and takeaways from Circular 51.
In July, the Ministry of Natural Resources and Environment released a draft decree on the implementation of the Law on Environmental Protection (LoEP) for public comment. The draft decree outlines details on the law’s new concept of environmental permits, which will govern the environmental implications of specific investment projects.
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Vietnam is a dynamic country with an economy that continues to grow and modernise and has a lot to offer. It is a unique country and provides extensive opportunities if you are willing to spend the time to understand the market and the people living and working in it.
Since Vietnam has joined the WTO in 2007, investment opportunities in Vietnam have developed immensely. Nevertheless, there are undoubtedly many challenges in doing business here, some of which we will touch upon the main points in our guide “Doing Business in Vietnam".
In this guide you can find information about:
Ways to invest and available incentives;
Types of legal entities you can setup;
The do’s and don’ts of borrowing or lending money;
Competition law, contract law, intellectual property rights law, the labour code and dispute resolution;
What to do in case of insolvency, bankruptcy, or dissolution; and