Dear Valued Clients, In order to solve some obstacles, create more favorable conditions, aimed at promoting development of high-tech parks, on February 1, 2024, the Government issued Decree 10/2024/ND-CP (“Decree 10”), replacing Decree 99/2003/ND-CP on high-tech park regulations and Article 112, Decree 31/2021/ND-CP (amending and supplementing some articles of Decree 99/2003/ND-CP). Decree 10 officially takes effect from March 25, 2024. In this Legal Update, we would like to summarize and…

Dear Valued Clients, On December 31, 2023, the Ministry of Planning and Investment issued Circular No. 25/2023/TT-BKHDT (“Circular 25”) on amending and supplementing a number of articles of Circular No. 03/2021 /TT-BKHDT dated April 9, 2021, of the Minister of Planning and Investment prescribing templates for documents and reports related to investment activities in Vietnam, outward investment activities and investment promotion activities (“Circular 03”), effective from February 15, 2024. In…

Dear Valued Clients, In recent years, the global minimum tax has been an issue that has received a lot of attention from both the foreign investors and recipient countries community. To implement the global minimum tax regulations, on November 29th, 2023, the National Assembly officially passed Resolution No. 107/2023/QH15 (“Resolution 107”) on the imposition of top-up corporate income tax (“CIT”) under the Global Anti-Base Erosion (GloBE) model rules and applicable…

Dear Valued Clients, Decree 13/2023/ND-CP which took effect on July 1, 2023, provides more detailed regulations on data protection and cybersecurity obligations for personal data processing activities in order to strengthen the legal framework governing activities in cyberspace. Accordingly, in order to ensure the implementation of regulations on network security and personal data security, on May 31, 2023, the Ministry of Public Security published the third draft of the Decree…

Dear Valued Clients, On September 16, 2022, the Government issued Decree No. 65/2022/ND-CP amending and supplementing a number of articles of Decree No. 153/2020/ND-CP dated December 31, 2020 on offerings and trading of corporate bonds individually in the domestic market and offering of corporate bonds to the international market (“Decree 65”). However, after being put into practice, Decree 65 clearly reveals inadequacies in the current context of the domestic and…

Dear Valued Clients, To meet the increasing demand for production and business in the context of the Covid-19 pandemic, the National Assembly Standing Committee passed Resolution No. 17/2022/UBTVQH15 dated March 23, 2022 (“Resolution 17”) on overtime hours in a year and a month of employees in the context of Covid-19 pandemic prevention and socio-economic recovery and development. In this Legal Update, we would like to summarize the number of overtime…

Dear Valued Clients, Using electronic invoices (“E-invoices”) is a mandatory requirement under Decree 123/2020/ND-CP (“Decree 123”) and Circular 78/2021/TT-BTC (“Circular 78”) that should be put on notice to enterprises. On February 24, 2022, the Ministry of Finance issued Decision No. 206/QD-BTC on the application of e-invoices in 57 provinces and central-run cities, effective from April 2022 for a number of eligible subjects. Subsequently, from July 1, 2022 going forward, all…

Dear Valued Clients, It has come to our attention during operation that the matter concerning the supervision of foreign investment activity carried out by Vietnamese competent state authorities is always one among others that draws attention of foreign-invested economic organizations. On the occasion of the adoption of Circular No. 02/2022/TT-BKHDT on the guidance on supervision and assessment of investment for foreign investment activities in Vietnam (“Circular 02”), we would like…