Legal Update
NEW RULE PERMITS PAYMENT OF VIDEO GAME PRIZES IN FOREIGN CURRENCIES
Foreign players of prize-winning video games may exchange their won tokens for foreign currencies or Vietnam Dong, according to a circular recently issued by the State Bank of Vietnam. Under Circular 09 dated...
CONSTRUCTION CONTRACTORS HAVE TO BUY A COMPULSORY CIVIL LIABILITY INSURANCE FOR THIRD PARTIES FROM 01 JULY 2022
This content is stipulated in the Government’s Decree No. 20/2022/ND-CP dated March 10, 2022, amending and supplementing a number of articles of the Government’s Decree No. 119/2015/ND-CP dated November 13, 2015, prescribing compulsory insurance...
DEPOSITS ELIGIBLE FOR PREMATURE WITHDRAWAL AT CREDIT INSTITUTIONS
On June 16, 2022, the State Bank of Vietnam issues the Circular No. 04/2022/TT-NHNN providing for the application of interest rates upon premature withdrawal of deposits from credit institutions and foreign bank branches. Accordingly,...
AMEND REGULATIONS REGARDING THE APPROPRIATION OF PROVISIONS OF LOSS OF INVESTMENT
On April 07, 2022, the Ministry of Finance issues the Circular No. 24/2022/TT-BTC amending and supplementing a number of articles of the Minister of Finance's Circular No. 48/2019/TT-NHNN dated August 08, 2019, providing...
THE NUMBER OF IMPORT TAX RATES WILL BE 20 BY 2030
This is a remarkable content defined in the Decision No. 508/QD-TTg dated April 23, 2022 of the Prime Minister on approving the Tax System Reform Strategy until 2030. According to this Decision, by...
Increase maximum annual overtime to 300 hours from April
On March 23, 2022, the National Assembly Standing Committee issues the Resolution No. 17/2022/UBTVQH15 on employees’ monthly, annual overtime hours in the context of prevention and control of the COVID-19 pandemic and socio-economic...
INCREASE THE LIMITATION OF PENALTY FOR ADMINISTRATIVE VIOLATIONS AND PENALTIES WITH MULTIPLE INVOICES RELATED TO INVOICES
From 2022, increase the statute of limitations for sanctioning administrative violations on invoices On November 16, 2021, the Government issued Decree 102/2021/ND-CP amending Decrees on sanctioning administrative violations in the...
REDUCE VAT RATE TO 8% FROM FEBRUARY 01
On January 28, 2022, the Government issues Decree No. 15/2022/ND-CP on tax exemption and reduction policy under the National Assembly’s Resolution No. 43/2022/QH15 on fiscal and monetary policies supporting socio-economic recovery and development programs. Accordingly, business...