Legal Update

Competition Law determines the fate of mergers and acquisitions

Competition Law determines the fate of mergers and acquisitions

Mergers & Acquisitions (M&As) implicate a variety of legal domains, among the most important of which is the Competition Law. The Competition Law of Vietnam (2004) treats M&As as forms of...

New law defines bankruptcy proceedings

New law defines bankruptcy proceedings

After 10 years from the issuance of the 2004 bankruptcy law, a new Law on Bankruptcy (the Bankruptcy Law) was passed on June 19, 2014, by the 13th National Assembly...

 
Government issues new rules on employment services

Government issues new rules on employment services

To provide detailed guidelines to enterprises engaged in employment service activities as stipulated under Labour Code 2012, on May 23, 2014, the government of Vietnam issued Decree No 52/2014/ND-CP providing...

Government announces new regulations on forex transactions

Government announces new regulations on forex transactions

All transactions and cash payments for exports and imports of goods and services must be conducted by bank transfers through authorised credit institutions. This regulation was approved in the decree 70/2014/ND-CP,...

 
Government lowers income tax for firms

Government lowers income tax for firms

Vietnam’s Ministry of Finance has cut the general enterprise income tax rate to 22 per cent from 25 per cent from 2014 on and to 20 per cent by 2016. Enterprise...

Foreign exchange control of FDI activities

Foreign exchange control of FDI activities

The State Bank of Vietnam (SBV)’s Circular 19/2014/TT-NHNN (11 August 2014) guides foreign exchange control of foreign direct investment (FDI) activities in Vietnam such as contribution of investment capital, opening...

 
Circular regulates deposit insurance

Circular regulates deposit insurance

Depositors of credit institutions that go bankrupt will be allowed to receive claim money from the Deposit Insurance of Vietnam within one month after the bankruptcy declaration. This is contained in...

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