Month: April 2020

Laws take effect since 2020

VGP – A number of laws will take effect since 2020, which are expected to make progress in the nation’s socio-economic development.  The Law on Public Investment 2019, coming into force since January 1, 2020, has some new amendments in spheres of the public investment resources,promoting decentralization for localities in deciding public investment projects, vigorously reforming method of planning and enhancing openness and transparency […]

Eight decrees, one circular take effect in February

VGP – The legal documents include new regulations on  foreign exchange management regarding foreign currency funding of microfinance, socio-political organizations and non-governmental organizations. Decree No. 94/2019/ND-CP dated December 13, 2019 detailing a number of articles of the Law on Crop Production regarding plant varieties and crop production shall come into force since February 1, 2020. Decree […]

Employees who lose their job due to Covid-19 shall be paid redundancy allowance

Official letter No. 198/LDLD dated March 30th, 2020 of the Confederation of Labour of Ha Noi City regarding guidelines on payment of suspension wage for employees during suspension in relation to the Covid-19 pandemic. This Official letter requests grassroots trade unions to closely monitor enterprises’ payment of wage, redundancy allowance to employees who have to […]

Regarding foreign investor’s purchase of shares in 100% Vietnamese educational company

Official letter No. 3228/BGDDT-HTQT dated July 29th, 2019 of the Ministry of Education and Training regarding foreign investor’s purchase of shares in 100% Vietnamese company operating in education in Vietnam According to Clause 2 Article 5 of Decree No. 86/2018/ND-CP, foreign investors are allowed to contribute capital, purchase shares of 100% Vietnamese schools and schools […]

New fines imposed on administrative violations in relation to labor contract, social insurance

Decree No. 28/2020/ND-CP dated March 1st, 2020 of the Government on administrative penalties for violations arising from labor, social insurance and sending Vietnamese workers abroad under contracts In comparison with the earlier regulations, this Decree adds regulations on fines imposed on these violations: – Temporary transfer of an employee to another job position not specified […]

How to calculate number of days of late payment of tax

Official letter No. 1311/TCHQ-TXNK dated March 3rd, 2020 of the General Department of Vietnam Customs regarding settlement of tax arrears According to the accounting system of the customs profession, number of days of late payment of tax is calculated according to the following formula: Number of days used for calculating interest on late payment = […]

New Regulation on coordination in resolution of international investment disputes

Decision No. 14/2020/QD-TTg dated April 8th, 2020 of the prime Minister on promulgating Regulation on coordination in resolution of international investment disputes This Regulation provides for competence, tasks of agencies upon participation in resolution of disputes at international arbitration between foreign investors and Vietnam’s Government, Vietnamese State, including: – Disputes over Agreement on Promotion and […]

Regarding fine imposed on the act of printing barcodes on exports without permission

Official letter No. 2417/TCHQ-DTCBL dated April 16th, 2020 of the General Department of Vietnam Customs regarding handling of violations regarding use of barcodes for exported goods According to opinions of the General Department of Vietnam Customs, in case an enterprise prints foreign barcodes on exported goods without the written permission of owners of the foreign […]

Nearly 35,000 businesses cease operations in Q1

Almost 35,000 enterprises withdrew from the market in the first quarter of this year due to the ongoing COVID-19 pandemic, according a survey conducted by the Vietnam Chamber of Commerce and Industry (VCCI). Almost 35,000 enterprises withdrew from the market in thefirst quarterof this year due to the ongoingCOVID-19pandemic, according a survey conducted by the […]