vietnam

NFT Gaming and Vietnam

A discussion on NFT gaming and Vietnam: Cryptocurrency use for purchasing NFT Gaming Characters, What jurisdiction does Vietnam have over the NFT game, and the ethical question of buying and selling characters.

New Circular guiding the Tax admin law 2019 and Decree 123/2020 on invoices

On 17 September 2021, the Ministry of Finance released new circular 78/2021 guiding certain provisions of the Law on Tax Administration 38/2019 and Decree 123/2020 on invoices and documents. Circular 78 will take effect from 1 July 2022 and taxpayers are encouraged to implement e invoices before this date.

Vietnam Updates from ADK - Vol. 21: Government will support 50% of the value of technology transfer consulting contracts for small and medium-sized enterprises

In this update: 1) Guidance for acceptance of fire prevention and fighting for wind power projects to apply COD, 2) The Government will support 50% of the value of technology transfer consulting contracts for small and medium-sized enterprises, 3) Contractors must observe the works under construction for abnormal signs

Vietnam Update: New Decision 27/2021/QD-TTg on the reduction of 30% of land rent in 2021

In this issue: Decision 27/2021/QD-TTg on the reduction of 30% of land rent in 2021, and the New Circular on financial management for implementation of the Intellectual Property Development Program to 2030.

Drones Regulatory Framework in Vietnam – Top 5 Key Q&As

This Vietnam Drones guide focuses on Vietnam and details the current regulatory framework mainly centered on Decree No. 36/2008/ND-CP dated 28 March 2008 which provides details on the management of unmanned aircraft and ultralight aircraft.

Vietnam Updates from ADK - Vol. 20: Decree No. 85/2021/ND-CP amending, supplementing a number of article of Decree No. 52/2013/ND-CP dated in May 16, 2013 on E-Commerce

In this update: 1) Ministry of Industry and Trade will consider the transition of wind power projects, 2) Amending, supplementing a number of article on e-commerce, 3) Circular 78/2021/TT-BTC on e-invoices and Ho Chi Minh City will apply new e-invoices from November 1, 2021.

Vietnam Weekly Update - 4 October 2021

Cập Nhật Hàng Tuần Việt Nam - 4 Thang 10 2021

In this week’s update: 1) Tax policy for importing goods for processing but no manufacturing or processing facilities, 2) Guidance on the tax policy applied to transfer of profit abroad; and 3) Amending and supplementing a number of articles of the Government's Decree No. 52/2013/ND-CP on e-commerce.

Economic Concentration in Vietnam

Vietnam Weekly Update - 27 September 2021

Cập Nhật Hàng Tuần Việt Nam - 27 Thang 9 2021

In this week’s update: 1) Increasing charter capital from profits after-tax, 2) Revenue and income from business cooperation contract ; and 3) Guidance on the use of goods invoices.

Vietnam Legal Update - Personal Data Protection

This Legal Update covers: Clearer definition of personal data, form of the consent required of personal data subject, notification requirement, processing sensitive personal data, cross-border personal data transfer, obligations of developing internal personal data protection regulations, and administrative penalty.

Vietnam Weekly Update - 13 September 2021

Cập Nhật Hàng Tuần Việt Nam - 13 Thang 9 2021

In this week's legal update: The announcement of annulled administrative procedures in the field of establishment and operation of social enterprises; Applying temporary anti-dumping tax on certain polyester fiber products; and VAT calculation price for property rental activities.

Vietnam Update: Guidance on corporate income tax arrears not yet retrospectively collected from societalized entities

In this issue: The new circular on the List of machinery, equipment and vehicle of transport that can be produced domestically, Guidance on corporate income tax arrears not yet retrospectively collected from societalized entities.

Conditions For Enjoying Tax Incentives Of FDI Enterprises

According to Article 15.2 of the Law on Investment 2020 to enjoy investment incentives in general and tax incentives in particular, FDI enterprises (foreign direct investment) need to meet certain conditions.

Some Notes On Consumers’ Rights Protection

In this update: What acts are prohibited by organizations or individuals trading in goods and services, and Responsibilities of organizations or individuals trading in goods and services.

Updated list of domestically manufactured goods - effective from October 2021

The Ministry of Planning and Investment issued Circular 05 setting out the machinery, equipment, spare-parts, means of transport for special usage, raw materials, supplies, and semi-finished products that can be produced domestically. This list is the basis for companies to access the duty-exemption and not-subject-to-VAT schemes applicable to goods which are not yet manufactured in Vietnam.

A Year of Legal Developments in Vietnam

The past 12 months have seen a slew of changes to Vietnam’s laws. There have been some major developments that affect investors and businesses as well as employment relationships.

Vietnam Weekly Update - 6 September 2021

Cập Nhật Hàng Tuần Việt Nam - 6 Thang 9 2021

In this update: Implementing the plan to support electricity bill reduction and electricity price reduction for electricity users, Guidance on the application of PIT on mid-shift meal payment for employees; and VAT rates.

Inextricably Linked: Immigration, Employment Law and Personal Tax

COVID-19 continues to present significant challenges around the world and the disruption continues to evolve. During this pandemic, apart from the wellbeing impact that COVID-19 has on workforces, employment tax and legal implications, as well as immigration related matters due to restrictions on the people’s mobility can be complex. What are the tax, labour, immigration considerations when an individual is relocating to Vietnam for an assignment or when an individual is repatriating from Vietnam? What about employees who are stranded in or outside Vietnam.

Raising operating capital of a general finance company

Under the Credit Institutions Law 2010, a finance company is permitted to raise operating capital under various forms provided that such forms of capital raising are clearly specified in the finance company’s establishment and operation license.

Foreign governing law for contracts between foreign-owned companies in Vietnam

For contracts between a foreign-owned company (i.e., companies which are owned and controlled by foreign investors) and other companies in Vietnam, the default position is that Vietnamese law is the governing law. However, there are certain arguments or mechanisms to allow the parties to choose foreign governing law.