Vietnam Legal & Tax Updates

In light of the continuing Covid-19 outbreak in Vietnam and various regulations issued by the Government and the Ministry of Labor, Invalids and Social Affairs (“MOLISA”), some key considerations remain with respect to employee entitlements that employers must address and make due preparations for, as outlined below: 1. What is the payment regime for employees...

The opening year of this decade was sadly and tumultuously marked by the many public health challenges, travel restrictions, border closures, fears and economic hardship brought on by the coronavirus pandemic across the globe.  Glimmers of hope re-emerged towards the end of 2020 as unprecedented worldwide efforts to research, experiment, formulate and test vaccine candidates...

The digital transformation experienced over the last number of years has resulted in unprecedented global economic and societal changes. This has resulted in global debates around international tax and the digital economy and whether the existing international tax rules, developed in a “brick-and-mortar” economic environment more than a century ago, remain appropriate for the modern...

On 30 December 2020, the Government of Vietnam issued Decree No. 152/2020/ND-CP (“Decree 152”) which will take effect on 15 February 2021 and replace Decree No. 11/2016/ND-CP of the Government of Vietnam dated 3 February 2016 (“Decree 11”), Decree No. 75/2014/ND-CP of the Government of Vietnam dated 28 July 2014 (“Decree 75”) and its corresponding...

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Decision No. 13/2020/QD-TTg issued by the Prime Minister of Vietnam on encouraging mechanisms for solar power development in Vietnam, dated 6 April 2020 (“Decision 13”) prescribed feed-in tariffs which expired on 31 December 2020. Accordingly, Electricity Vietnam (“EVN”) has announced its power companies have stopped buying electricity from rooftop solar power projects (“RTS Projects”) with a...

BACKGROUND The proposal to establish Thu Duc City was developed several years ago by the municipal government of Ho Chi Minh City. The proposed combination of several districts in Ho Chi Minh City to form a separate city within Ho Chi Minh City was considered necessary and advisable because each of the relevant districts has...

On 20 November 2019, the National Assembly of Vietnam adopted the new Labor Code No. 45/2019/QH14 (“Labor Code 2019”) which will replace the current Labor Code 2012 (No. 10/2012/QH13 of the National Assembly of Vietnam dated 18 June 2012). The Labor Code 2019 will take effect on 1 January 2021 and revises and supplements several...

On 19 October 2020, the Government of Vietnam issued Decree 123/2020/ND-CP (“Decree 123”) that provides guidance on the implementation of the new invoicing and documentary procedures relating to e-invoicing in Vietnam. Decree 123 will now take effect from 1 July 2022 postponing the deadline for the compulsory implementation of e-invoicing in Vietnam from 1 November 2020...

We are now pleased to unveil the third in our Q&A series on Finance and Loan Security Rights in Real Estate in the COVID-19 Era, this edition focusing on Vietnam.  The State Bank of Vietnam (SBV) issued a Circular on 13 March 2020 regulating restructuring by credit institutions and foreign bank branches of debt repayment...