Vietnam Legal Update

The guiding text of the 2019 Law on Tax Administration has recently been issued by the Government with a series of new provisions designed to create convenience for taxpayers and reduce tax-related compliance costs while increasing the effectiveness of tax administration activities. The Decree, coded 126/2020/ND-CP, came into force on December 5 and will apply […]

On June 18, 2020, the National Assembly of Vietnam passed the long awaited Law on Public-Private Partnership (PPP Law) which establishes an umbrella legal framework for all PPP projects and aims to attract more private investment to the development of Vietnam’s infrastructure. The PPP Law will take effect on January 1, 2021, and replace the […]

The Government has issued Decree No.152/2020/ND-CP regarding foreigners working in Viet Nam and recruitment and management of Vietnamese working for foreign organizations and individuals in Viet Nam. Under the Decree, foreigners working in Viet Nam are those who: (i) work under labor contract; (ii) or carry out contracts or agreement on economy, trade, finance, banking, […]

The Ministry of Finance in late November issued a circular guiding the disclosure of information on the securities market. Under Circular 96/2020/TT-BTC, which will replace Circular 155/2015/TT-BTC from January 1, 2021, entities obliged to perform information disclosure include public companies; bond issuers; institutions carrying out initial public offering (IPO); corporate bond-listing institutions; securities companies and […]

The Government recently issued Decree No 152/2020/ND-CP featuring regulations on foreigners working in Vietnam and the recruitment and management of Vietnamese working for foreign organizations and individuals in the country. This degree stipulates that foreigners working in Vietnam are those under labor contracts; moving within a business; carrying out contracts or agreements on economy, trade, finance, banking, […]

Labor Code The Code contains noteworthy new provisions such as those allowing employees to unilaterally terminate labor contracts at any time without reason and forcing employers to pay account opening fee if paying salaries to employees via bank accounts. Under the Code, the daily overtime of an employee must not exceed half of his normal […]

New regulations on management and use of grant aid, issuance of corporate bonds, management of surrogacy, and registration of foreign-flagged ships shall take effect in September. Management and use of grant aid Decree No. 80/2020/ND-CP dated on July 8, 2020 regulate management and use of grant aid not in form of official development assistance of […]

Since September 1, a married individual shall be fined VND 3-5 million if he/she cohabits with a partner as husband and wife, according to the Government’s Decree No. 82/2020/ND-CP on sanctions of administrative violations the field of judicial assistance, judicial administration, marriage and family, and civil judgement enforcement. The revised sanction is higher than the previous […]

GP – The number of foreign tourist arrivals to Viet Nam in the first four months of this year reached 3.7 million due to the COVID-19 pandemic, a year-on-year decline of 37.8%, according to the General Statistics Office (GSO).     Illustration photo In the first four months, visitors from Europe fell 25.4% year-on-year, of which arrivals […]

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 […]