Finance - Banking - Stock

On August 1, 2024, the General Department of Taxation issued Official Letter No. 3390/TCT-CS in response to the Gia Lai Provincial Tax Department regarding the VAT policy applicable to the transfer of Voluntary Emission Reduction (VER) certificates ("Official Letter 3390"). VER is described as a credit…

On June 29, 2024, the National Assembly officially enacted Law No. 43/2024/QH15 ("Amendment Law") amending and supplementing certain provisions of the Land Law No. 31/2024/QH15 ("Land Law"), Housing Law No. 27/2023/QH15 ("Housing Law"), Real Estate Business Law No. 29/2023/QH15 ("Real Estate Business…

On June 27, 2024, the National Assembly promulgated the Law amending and supplementing several articles of the Law on Property Auction No. 01/2016/QH14, which had previously been amended and supplemented by Law No. 16/2023/QH15 (hereinafter referred to as the “Law on Property Auction 2024”). The amendments…

On July 10, 2024, the Government issued Decree No. 85/2024/ND-CP ("Decree 85") detailing several Articles of the Price Law 2023. Decree 85 replaces Decrees No. 177/2013/ND-CP and No. 149/2016/ND-CP, which provided guidance on the 2012 Price Law (hereinafter collectively referred to as “Decree 177”).…

The negative impacts from the world economic situation in general and the internal difficulties of the Vietnamese economy in the current period have significantly affected the production and business activities of enterprises, leading to a decline inability to repay bank principal/interest. According…

On June 28, 2024, the State Bank of Vietnam issued Circular 15/2024/TT-NHNN (“Circular 15”) regulating the provision of non-cash payment services. Circular 15 introduces several noteworthy new provisions as follows: 1. The State Bank strictly manages the provision of payment services through Payment…

On June 28, 2024, the State Bank of Vietnam issued Circular 18/2024/TT-NHNN (“Circular 18”) regulating bank card operations. Circular 18 primarily supplements new regulations to strengthen the measures of organizations in ensuring safety in card transactions following the implementation of biometric…

On June 28, 2024, the Governor of the State Bank of Vietnam issued Circular 19/2024/TT-NHNN ("Circular 19") amending Circular 08/2023/TT-NHNN ("Circular 08") on conditions for foreign loans without government guarantees. Circular 19 has introduced several new types of foreign loans and regulations related…

On June 28, 2024, the Governor of the State Bank of Vietnam issued Circular 12/2024/TT-NHNN ("Circular 12") amending Circular 39/2016/TT-NHNN on lending activities of credit institutions and foreign bank branches to customers. Some important amendments and supplements of Circular 12/2024/TT-NHNN are…

After two years of maintaining the minimum wage as prescribed in Decree 38/2022/ND-CP ("Decree 38"), on June 30, 2024, the Government officially issued Decree 74/2024/ND-CP ("Decree 74") replacing Decree 38 on the monthly minimum wage and hourly minimum wage applicable to employees working under labor…

To continue to maintain the State's support to help businesses and individuals overcome the difficult period after Covid-19, on June 28, 2024, the Minister of Finance issued Circular 43/2024/TT-BTC regulating the collection of several fees and charges to continue to remove difficulties and support production…

On June 27, 2024, the Government issued the first decree to guide the implementation of the Land Law 2024, Decree 71/2024/ND-CP on land prices ("Decree 71"). Prior to the promulgation of Decree 71, the Government issued Decree 12/2024/ND-CP ("Decree 12") with regulations on land prices that are compatible…

In light of economic difficulties, the National Assembly passed Resolution 142/2024/QH15 to extend the application of the 8% VAT rate, which means a 2% reduction, from July 1, 2024, to the end of 2024 (“Resolution 142”). Consequently, on June 30, 2024, the Government issued Decree 72/2024/ND-CP detailing…