Updates
Vietnam: Legal framework on cosmetic management activities in Vietnam
- Apolat Legal
This update covers: 1) Definition of cosmetics and important terms, 2) Regulations of cosmetic product proclamation, 3) Changes to published content, 4) The effect time of the receipt number of cosmetic product proclamation report, 5) Confiscating the cosmetic product proclamation receipt number, 6) Suspending the cosmetic circulation and confiscation
Vietnam: How to protect the author – right of musical work in the digital age
- Apolat Legal
TikTok is an indispensable app for the young generation. This is a playground for the user to be creative with the short video, otherwise, it is also the cause for the author–right infringement. “How the user protect their author – right in the digital space?”, this essay is going to clarify this issue.
Vietnam: Chinese investor establishes a beverage factory in Vietnam
- Apolat Legal
According to a report from the Department of Investment, 2023 is the year that attracts the most projects from Chinese investors. These data show that Vietnam has always created favorable conditions for Chinese investors to invest in Vietnam, and Vietnam is also a potential market where investors aim to implement production projects.
Vietnam: Japanese investors operating in cosmetics retail in Vietnam
- Apolat Legal
Currently, Vietnam is a popular destination for Japan Investors in cosmetic retail. However, in order to be allowed to conduct cosmetics retail in the Vietnamese market, Japanese investors need to pay attention to the several issues discussed in this article.
Vietnam: Proposed Change In Tax Law Likely Affecting M&A Transactions In Vietnam
- LNT & Partners
Vietnamese tax law has recently introduced a proposed amendment that may affect M&A deal makers in Vietnam especially those with plan for exit/ restructuring M&A transactions. The Vietnam Ministry of Finance has just released the Draft Law on Corporate Income Tax (CIT) for public consultation (the Draft Law).
Electricity Price Range For LNG Power Plants In 2024
- Venture North Law Firm
On 27 May 2024, the Ministry of Industry and Trade (MOIT) issued Decision 1260 approving the electricity generation price (EGP) range for the year 2024 applicable to LNG combined-cycle gas turbine (CCGT) thermal power plant.
New Decree on Non-Cash Payment in Vietnam
- Venture North Law Firm
On 15 May 2024, a new Decree on non-cash payments has been passed by the Government (Decree 52/2024) to replace the old Decree 101/ND-CP of the Government on non-cash payment dated 22 November 2012 (Decree 101/2012) from 1 July 2024. In this post, we will introduce certain key changes of Decree 52/2024.
Issues Relating To Private Bonds Marked As “Cancelled” On Hanoi Stock Exchange Website
- Venture North Law Firm
Since 2019, Hanoi Stock Exchange (HNX) has operated a website to publish information on private corporate bonds (Private Bond Information Website). Currently, on the Private Bond Information Website, several outstanding private bonds issued under Decree 153/2020, which have reached maturity but have not been repaid by the relevant issuers, are marked as “cancelled”.
How the new Law Electronic Transactions 2023 could affect the signing of contracts by exchanging pdf copies in Vietnam?
- Venture North Law Firm
From 1 July 2024, several new provisions under the Law on Electronic Transaction 2023 (LET 2023) could affect how the parties could sign a contract via the creation and exchange of pdf copies of the agreed contract.
Vietnam: Draft Corporate Income Tax Law for public consultation
- KPMG Vietnam
On 11 June 2024, the Vietnam Ministry of Finance ("MoF") released a Draft Corporate Income Tax Law for public consultation ("New Draft Law"). Among the key changes proposed in the New Draft Law is the application of 2% CIT on proceeds from the transfer of capital invested by foreign corporations directly or indirectly in non-public joint stock companies or limited liability companies in Vietnam.
Vietnam's Draft Data Law: An Overview and Implications
- KPMG Law Limited
This article provides an overview of the Draft Law's key provisions and their potential implications for businesses and individuals. Unlike personal data legislation, this Draft Law's broad coverage encompasses not only personal data but also other organizational and business data.
Vietnam: Stay up-to-date on bidding forms for drug supply contracts!
- LNT & Partners
According to the Law on Bidding 2023 (effective from 1 January 2024), Decree 24/2024/ND-CP (effective from 27 February 2024), and Circular 07/2024/TT-BYT (effective from May 17, 2024), the selection of drug supply contractors can be carried out through various forms.
Vietnam: What Are Suggestions for Amending The Pharmaceutical Law?
- LNT & Partners
Following the publication of points by the Deputy Director of Drug Administrative of Vietnam, new points of the draft Pharmaceutical Law (amendment) are discussed in this update.
Vietnam Technical Update: June 2024
- KPMG Vietnam
This update covers: Repealing circular No. 83/2014/TT-BTC on import VAT, Continuous enforcement measures towards VAT refund management, PIT obligations re the transfer of capital contributed in real estate, enforcement of tax management using Form 01/TNDN, and guidance on exit ban to legal representatives of businesses recorded with tax debt.
Vietnam: The right for foreign-invested economic organisations to access and use land in Vietnam under the Land Law 2024
- Global Vietnam Lawyers
On the basis of inheritance from and development of the regulations in previous land laws, the Land Law 2024 regulates the right for FI economic organisations to access and use land in a manner more expanded and equally accessible as to domestic economic organisations, ensuring the potential of the land is exploited the most in the market economy.
Vietnam's Renewable Energy Landscape Post-New Policy Implementation
- Global Vietnam Lawyers
The National Power Development Plan for the period 2021-2030, with a vision towards 2050 (PDP8), was officially announced by the Prime Minister of Vietnam on May 15, 2023. This significant development is expected to drive new waves of investment and growth in Vietnam's power market, particularly in the renewable energy sector, in the upcoming phase.
Vietnam: Decree on Cybersecurity Administrative Sanctions To Be Released Next Month
- LNT & Partners
The Government unveiled the appraisal dossier for the draft Decree on Cybersecurity Administrative Sanctions, which will impose administrative penalties for violations in cyberspace, including personal data breaches. This legal alert provides key highlights of the CAS Decree, especially on personal data breaches.
Vietnam: Over 600 drugs and 4 medical devices are eligible for price negotiation under Circular 05
- LNT & Partners
As of May 14, 2024, the Ministry of Health has implemented Circular 05/2024/TT-BYT outlining the catalog of drugs, medical tools, and testing equipment acquired through price negotiation. This follows the enactment of the 2023 Law on Tendering, effective since January 2024.
Vietnam’s PDP8 Implementation Plan
- DFDL Vietnam
On 1 April 2024, the Prime Minister of Vietnam issued Decision No. 262/QD-TTg on approving the plan to implement the National Power Development Plan for the period of 2021 – 2030, with a vision to 2050, with immediate effect.
Vietnam: Twin Transition in Vietnam's Financial Sector - Green and Digital Transitions
- LNT & Partners
Vietnam's financial institutions are increasingly feeling the impact of environmental, social, and governance (ESG) factors on their risk assessment, capital allocation, and governance structures. This update discusses the policies steps that could be taken.
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