Enterprises

ROAD TRAFFIC PERMIT FOR OVERLOADED VEHICLES IS GRANTED ONLY WHEN THE APPLICATION CLEARLY SPECIFIES THAT THERE ARE NO ALTERNATIVE TRANSPORTATION OPTIONS AVAILABLE

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On December 13, 2023, the Ministry of Transport issued Circular No. 35/2023/TT-BGTVT ("Circular 35"), amending and supplementing certain provisions of Circular No. 46/2015/TT-BGTVT regarding road load capacity and dimensional limits, the operation of overloaded vehicles, oversized vehicles, and tracked…

STRICTLY HANDLE COMMERCIAL BANKS CAUSING DIFFICULTIES FOR REAL ESTATE BUSINESSES AND HOUSE BUYERS BORROWING CAPITAL

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Over the past period, state agencies, ministries, boards, and sectors have proactively and actively implemented the government's directives and management regarding strengthening access to credit, promoting effective and sustainable development in the corporate bond market (CBM) and real estate sector…

NEW DECREE ON TRADING PETROLEUM: MORE FLEXIBLE IN PRICE MONITORING BUT MORE TIGHTENED IN PRICE STABILIZATION FUND MANAGING

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mo.11

Petroleum is an essential goods and plays an important role in production, business and consumption of enterprises and individuals; therefore, petroleum trading activities of traders are always strictly managed by the State to ensure the best harmony of interests of all parties. In the face of recent…

BANKS ARE NOT ALLOWED TO BROKER INVESTMENT-LINKED INSURANCE POLICIES FOR CLIENTS WITHIN 60 DAYS BEFORE AND AFTER THE LOAN DISBURSEMENT

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Insurance plays an important role in the development of society, Recently, insurance activities and insurance products have also received the attention of many individuals and businesses. To contribute to promoting the healthy development of the insurance market as well as insurance businesses, on November…

HANOI BUSINESS REGISTRATION OFFICE NOTES ON DECLARING THE PHONE NUMBER AND EMAIL ADDRESS OF ENTERPRISES

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On November 16, 2023, the Business Registration Department of the Hanoi Department of Planning and Investment issued Announcement No. 898/TB-ĐKKD ("Announcement 898") regarding the declaration of email addresses when carrying out business registration procedures. According to Announcement 898, organizations…

SCIC'S INVESTMENT AND DEVELOPMENT ORIENTATION UNTIL 2035

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On November 10, 2023, the Prime Minister issued Decision No. 1336/QD-TTg ("Decision 1336") approving the development strategy until 2030 and the vision until 2035, the business plan, and the investment plan for the period until 2025 of the State Capital Investment Corporation ("SCIC"). Here, ATA Legal…

ENTERPRISES, NOT BANKS, ALLOWED TO CONTRIBUTE CAPITAL TO JOINT-VENTURE BANKS IN VIETNAM FROM DECEMBER 14, 2023

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On October 31, 2023, the Governor of the State Bank of Vietnam issued Circular No. 13/2023/TT-NHNN amending and supplementing certain provisions of Circulars regulating the issuance of licenses, organization, operations, and documentation, procedures, and approval processes for certain changes of commercial…

MULTIPLE NEW REGULATIONS CREATE FAVOURABLE CONDITIONS FOR PROJECTS IN OBTAINING STATE INVESTMENT CREDIT FROM THE VIETNAM DEVELOPMENT BANK

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On November 7, 2023, the Prime Minister issued Decree No. 78/2023/ND-CP ("Decree 78") amending and supplementing several articles of Decree No. 32/2017/ND-CP on state investment credit ("Decree 32"). Accordingly, ATA Legal Services has updated the following contents: 1. To supplement more projects to…

CONDITIONS FOR IMPORTING REFURBISHED GOODS (SECOND-HAND GOODS) INTO VIETNAM

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On November 12, 2018, the National Assembly of Vietnam passed Resolution No. 72/2018/QH14 on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into effect on January 14, 2019. According to this resolution, if a party imposes or maintains prohibitions or restrictions…

NECESSARY AND SUFFICIENT CRITERIA TO DETERMINE SOME DEDUCTIBLE EXPENDITURES WHEN CALCULATING CORPORATE INCOME TAX

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On October 18, 2023, the General Department of Taxation issued Official Letter 4619/TCT-CS instructing the Khanh Hoa Department of Taxation on several issues on the tax obligations of enterprises ("Official Letter 4619"). Official Letter 4619 provides detailed guidance on the criteria for determining…

FAVOURABLE INTEREST RATE FROM 1.2%/YEAR FOR SMES

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To encourage small and medium enterprises (SMEs), the Government has established the Small and Medium Enterprise Development Fund ("the Fund") with the main function of providing loans and funding for innovative startups and SMEs participating in industry clusters and value chains. On October 4, 2023,…

EXTENDING THE DISCIPLINARY PROCESSING PERIOD FOR STATE ENTERPRISE MANAGERS AND STATE CAPITAL REPRESENTATIVES UP TO 10 YEARS

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mo.09

On September 14, 2023, the Government issued Decree No. 69/2023/ND-CP ("Decree 69"), amending and supplementing certain provisions of Decree No. 159/2020/ND-CP dated December 31, 2020 ("Decree 159") regarding the management of individuals holding positions, titles, and representatives of state capital…

INSURANCE ENTERPRISES CAN ONLY ACTIVELY ADJUST INSURANCE FEES FOR COMPULSORY INSURANCE TYPES WITHIN 25%

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Previously, detailed guidelines on compulsory motor vehicle owner's civil liability insurance, compulsory fire insurance and compulsory insurance in construction activities were stipulated by the Government in three separate Decrees including: Decree No. 03/2021/ND-CP issued on January 15, 2021 ("Decree…

ENTERPRISES MAY RECORD EXPENSES AND MAKE VAT DEDUCTION FOR PURCHASES PAID BY INDIVIDUALS’ CREDIT CARDS

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According to Official Letter No. 62652/CTHN-TTHT dated 25/08/2023 responding to an enterprise's dispatch on tax policy when paying by personal credit card ("Official Letter 62652"), the Hanoi City Tax Department instructs that in case the enterprise authorizes an individual who is an employee of the…

THE 2023 TAX SPECIALIZED INSPECTION PLAN FOCUSES ON MAJOR ENTERPRISES OPERATING IN REAL ESTATE AND CONSTRUCTION SECTORS

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Recently, the General Department of Taxation issued Decision 970/QD-TCT[1] on the tax inspection process with the aim of strengthening tax inspection on the basis of applying risk management mechanisms, applying information technology to tax inspection in order to detect, and prevent and promptly handle…