International travel documents shall be revoked in 03 cases
On July 01, 2020, the Government issues the Decree No. 76/2020/ND-CP, prescribing in detail subjects eligible for the grant, and the order, procedures of and competence for issuance, revocation and invalidation of international travel documents. Specifically, cases in which an international travel document is revoked or invalidated are prescribed as follows: The international travel document, […]
One more subject may not establish an enterprise in Vietnam
This is a new content adopted by the National Assembly in the Law on Enterprises No. 59/2020/QH14 dated June 17, 2020. Specifically, to supplement a subject who may not establish and manage an enterprise in Vietnam: an organization being commercial legal person prohibited from doing business in certain areas or prohibited from operating in certain […]
To invest in the PPP form in 5 sectors from 2021
On June 18, 2020, the National Assembly promulgates the Law on Investment in the form of Public-Private Partnership. Accordingly, there are 5 investment sectors of PPP projects, including: transport; transmission lines, power plants, except for hydroelectric plants and other cases of State monopoly as prescribed in the Law on Electricity; irrigation system, clean water supply […]
To reduce 50% of charges for verification of documents related to a Vietnamese working abroad
On June 12, 2020, the Ministry of Finance issues the Circular No. 54/2020/TT-BTC on prescribing the rates and the remittance of charges for verification of papers and documents at the request of domestic organizations and individuals, the rates and the remittance of fees for grant of licenses for sending workers abroad for a definite time. […]
To invest in the PPP form in 5 sectors from 2021
On June 18, 2020, the National Assembly promulgates the Law on Investment in the form of a Public-Private Partnership. Accordingly, there are 5 investment sectors of PPP projects, including transport; transmission lines, power plants, except for hydroelectric plants and other cases of State monopoly as prescribed in the Law on Electricity; irrigation system, clean water […]
Support for job change training expenses for victims of occupational accidents
On July 28, 2020, the Government issues the Decree No. 88/2020/ND-CP on detailing and guiding the implementation of a number of articles of the Law on Occupational Safety and Health regarding compulsory occupational accident and disease insurance. Accordingly, an employer may receive support for expenses of job change training for employees if the employee fully […]
Not to grant temporary residence certification to foreigners entering Vietnam through automated control gates
This content is prescribed by the Government in the Decree No. 75/2020/ND-CP dated July 01, 2020 on detailing a number of articles of the Law on amending and supplementing a number of articles of the Law on Foreigners’ Entry into, Exit from, Transit through and Residence in Vietnam. In accordance with this Decree, immigration control […]
To repeal 03 forms in the requesting dossier for grant of the license for producing of chemical
On June 18, 2020, the Ministry of Industry and Trade issues the Circular No. 13/2020/TT-BCT on amending, supplementing and repealing some regulations on business conditions underthe management of the Ministry of Industry and Trade. Accordingly, the trader which exports minerals in a quarter shall make a report and submit it to the Industry Agency instead […]
Tax alert: Interest expense deduction limit raises to 30 percent from 20 percent to support businesses
The Vietnamese Government has recently issued Decree No. 68/2020/ND-CP (“Decree 68”) in order to amend and supplement Point 3, Article 8 of Decree No.20/2017/ND-CP with regards to the deductibility of interest expenses for the calculation of Corporate Income Tax. Some noteworthy points in the new Decree are as follows: First, the calculation of interest expense […]
Vital modifications under the new Law on Investment 2019
1.New foreign ownership threshold: The New Law on Investment drop-down on the foreign ownership threshold from previously being 51% to now being 50% to determine if an economic organization with foreign-owned capital must satisfy conditions prior to the investment. Please note that these conditions apply to economic organizations with foreign-owned capital establishing economic organizations, contributing […]