LEGAL UPDATES
ALLOWING CREDIT INSTITUTIONS TO REDEEM CORPORATE BONDS FROM APRIL 24, 2023
- 28-04-2023
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On April 23, 2023, the State Bank of Vietnam issued Circular 03/2023/TT-NHNN (“Circular 03”) stipulating the suspension of Clause 11 Article 4 of Circular 16/2021/TT-NHNN (“Circular 16”) regulates the purchase and sale of bonds by credit institutions and foreign bank branches (“CIs”). According to the…
ELECTRICITY WORKS SHALL ONLY BE PUT INTO OPERATION IF ALL RELATED REQUIREMENTS ARE FULFILLED
- 28-04-2023
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On April 21, 2023, the Ministry of Industry and Trade issued Circular 10/2023/TT-BCT (“Circular 10”) amending and supplementing some articles of Circular No. 21/2020/TT-BCT on procedures for issuance of electricity licenses (“Circular 21”). Circular 10 has outstanding contents as follows: Supplementation…
ENTERPRISES SELLING ELECTRICITY ARE ALLOWED TO ASK THE BUYERS FOR RESIDENTIAL INFORMATION AT THE ELECTRICITY USE LOCATION
- 28-04-2023
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On April 21, 2023, the Ministry of Industry and Trade of Vietnam issued Circular No 09/2023/TT-BCT (“Circular 09”) amending some articles of two circulars on electricity prices including Circular No 16/2014/TT-BCT (“Circular 16”) and Circular No 25/2018/TT-BTC amending to some articles of Circular…
ENTERPRISES IN DIFFICULTY SHALL BE SUBJECT TO REPAYMENT TERM EXTENSION OF UP TO 12 MONTHS
- 28-04-2023
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On April 23, 2023, the State Bank of Vietnam issued Circular No. 02/2023/TT-NHNN (“Circular 02”) stipulating that credit institutions, foreign bank branches (“Circular 02”) ) are now allowed to restructure the repayment terms to support organizations and individuals (“Clients”) struggling with production…
PROPOSAL FOR INCREASING THE LIMIT OF TOTAL INVESTMENT TO BE USED AS CRITERIA FOR CLASSIFICATION OF OTHER CAPITAL PROJECTS AND LICENSE AUTHORIZATION FOR INVESTMENT PROJECTS USING OFF-BUDGET CAPITAL
- 21-04-2023
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Implementing the working program of the Prime Minister's Special Working Team on reviewing, removing difficulties and obstacles and promoting the implementation of investment projects in ministries, branches and localities, the Government Office has issued Dispatch 2370/VPCP-CN to competent ministerial-level…
BUSINESS HOUSEHOLD NUMBER IS ALSO THE BUSINESS HOUSEHOLD TAX CODE
- 21-04-2023
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Nowadays, the registration of business households is carried out according to the guidance in Decree 01/2021/ND-CP ("Decree 01") on business registration. However, the contents of the Decree are still quite general, and there is no common system to implement procedures as business registration for…
DEADLINE FOR APPLICATION FOR TAX PAYMENT EXTENSION IN 2023 IS 30/09/2023
- 21-04-2023
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Extension of time limit for payment in the fiscal year for 04 types of taxes, financial obligations include: (i) value-added tax; (ii) corporate income tax; (iii) personal income tax; and (iv) land rent (hereinafter referred to as "Tax") is one of the solutions to minimize difficulties and support businesses…
ANY USE AND PROCESSING OF PERSONAL DATA MUST OBTAIN THE CONSENT OF THE DATA OWNER
- 21-04-2023
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In the context of digital technology, electronic transactions are on the throne, our information, images, personal data more than ever, are always likely to be used and exploited for purposes that are inconsistent with our needs, leading to serious consequences. Therefore, the protection of personal…
CONDITIONS AND PROCEDURES FOR OBTAINING AN APEC BUSINESS TRAVEL CARD (ABTC) APPLICABLE TO FOREIGN NON - STATE ENTERPRISES
- 14-04-2023
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On April 12, 2023, the Prime Minister issued Decision No. 09/2023/QD-TTg ("Decision 09") regulating the order, procedures, authority, issuance, and management of APEC Business Travel Cards, replacing Decision 45/2006/QD-TTg ("Decision 45") dated February 28, 2006. The APEC Business Travel Card (or "ABTC…
SOCIAL INSURANCE APPLICATION MUST BE SUBMITTED WITHIN 30 DAYS FROM THE SIGNATURE DATE OF THE EMPLOYMENT CONTRACT OR THE RECRUITMENT DECISION
- 14-04-2023
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On March 28, 2023, Vietnam Social Security issued Decision 490/QD-BHXH ("Decision 490") amending and supplementing provisions on the procedures for collection of social insurance ("SI") contributions, premiums of health insurance ("HI"), unemployment insurance ("UI"), occupational accident and occupational…
HANOI SHALL CONTINUE TO GRANT LICENSE FOR KARAOKE ESTABLISHMENTS
- 14-04-2023
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From the practice of a series of karaoke bar fires causing great damage to both people and property, realizing many outstanding problems in fire prevention, and fighting ("fire protection") at businesses of this type of service, on 02 October 2016, the Hanoi City’s Communist Party urgently issued Notification…
LENDING INTEREST RATE FOR SOCIAL HOUSE PURCHASE SHALL BE 8.2%/YEAR
- 14-04-2023
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Implement the Government's Resolution 33/NQ-CP dated March 11, 2023 on a number of solutions to dismantle and promote the development of the real estate market, including the content that the Government assigned the State Bank to preside over the implementation of a credit program of VND 120,000 billion…
STILL NOT ENOUGH BASIS FOR GRANTING CERTIFICATE TO BUYERS OF CONDOTELS
- 07-04-2023
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At the beginning of April 2023, businesses and individuals, especially those participating in the real estate market, could be considered receiving "good" news when the Government officially promulgates Decree 10/2023/ND-CP amending a number of decrees guiding the land law ("Decree 10"). One of the…
CONTINUOUSLY REDUCING LOAN INTEREST RATE, REDISCOUNT RATE AND DEPOSIT INTEREST RATE
- 07-04-2023
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On March 31, 2023, the State Bank of Vietnam issued three decisions related to interest rate management, including Decision 574/QD-NHNN ("Decision 574"), Decision 575/QD-NHNN ("Decision 575"), Decision 576/QD-NHNN ("Decision 576"), replacing Decision 313/QD-NHNN ("Decision 313"), Decision 314/QD-NHNN…
POLICIES AND INCENTIVES FOR INVESTMENT OF SOCIAL HOUSING PROJECTS TOWARDS SOCIALIZATION
- 07-04-2023
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With a view to assisting low-income people and industrial park workers in getting the opportunity to access affordable housing, on April 3, 2023, the Prime Minister issued Decision No. 338/QD-TTg ("Decision 338") approving the Project "Investment in the construction of at least 01 million social housing…