Personal Data Protection obligations in Vietnam – Decree 13, legal framework and 2023 obligations
After a protracted period of deliberation, the Vietnamese government ultimately passed the Decree No. 13/2023/ND-CP on Personal Data Protection (Decree 13) on 17 April 2023. Decree 13 is a landmark legal instrument that integrates all of Vietnam’s dispara
0评论2023-05-166
Draft policy for 2% VAT reduction, from the current 10% rate to 8%, in Vietnam in 2023
In April 2023 the Ministry of Finance introduced a draft policy to reduce VAT in Vietnam. Previously, the Vietnamese Government had implemented in 2022 a temporary VAT reduction, through Decree 15/2022/ND-CP (Decree 15), which reduced VAT from 10% to 8% i
0评论2023-04-253
Opening Retail Stores/Outlets in Vietnam for Foreign Investors
The Vietnamese domestic economy continues to grow and is considered by many as one of the leading growth markets in Southeast Asia and globally. Accordingly, Vietnam has continued to attract foreign investors invest and expand their trading and retail act
0评论2023-04-249
Preparing for Personal Income Tax finalisation for 2022
Organisations and individual taxpayers in Vietnam should be aware of the guidance outlined by the Vietnam Ministry of Finance and General Department of Taxation when completing annual finalisations.
0评论2023-03-203
Intellectual property in Vietnam: Legal framework and practical notes for investors
Intellectual property protections are one of the key factors driving investors’ decisions when entering Vietnam. A solid legal framework covering the rights and protection mechanism for investors who are seeking to create value in the market is essential
0评论2023-02-1310
Registering a foreign NGO in Vietnam – challenges and strict requirements
Foreign NGOs (Non-Governmental Organisations) have a history of providing aid and support to Vietnam in many areas, particularly where socio-economic development has been needed the most. Focus areas have included healthcare, education, agricultural
0评论2022-09-297
Employee onboarding in Vietnam: Regulatory process and best practices
Labour and human resource compliance is one of the most complex matters for international investors operating in Vietnam, due to the significant regulatory requirements and the differing rules and processes governing labour management.
0评论2022-09-228
Company dissolution in Vietnam: key considerations for foreign investors
International investors are taking advantage of the consistent growth opportunities available in Vietnam, and when their investments and local entities become obsolete or require changes within their statutory structure, they often seek to undertake a com
0评论2022-09-147
Spotlight on the Law on Cybersecurity in Vietnam and Decree 53
In order to further align its policies with the international community standards and personal data protection best practices, the Vietnamese authorities have recently released a significant Decree covering key elements on data security. The contents of t
0评论2022-09-072
Investment reports for foreign-owned companies in Vietnam
With significant numbers of new foreign-invested enterprises established and expanded each year, the Vietnam government utilises methods to manage to ensure that investment projects are operating following the investment scheme as planned. One of the mana
0评论2022-08-233
Key statutory positions in foreign invested enterprises in Vietnam: Rights and responsibilities
One of the main concerns for investors seeking to enter the market in Vietnam and establish a formal presence is choosing the statutory management positions in the corporate entity. Understanding these statutory positions and management roles within the c
0评论2022-08-2210
E-signatures in Vietnam: Practical & commercial insights OR Practical guide to using e-signature
The ongoing digital transformation in Vietnam, which was intensified by the COVID-19 pandemic, has led to electronic signatures (E-Signatures) being a common talking point, due to them being an invaluable tool used by businesses across the world. Vietnam
0评论2022-08-079
Decree 41 removes separate invoicing requirements for reduced VAT of 8% and an Official Letter clari
Decree 41 abolishes requirements to separate invoicing of goods/ services entitled to reduced VAT of 8%On 20 June 2022, the Vietnamese Government issued Decree 41/2022/ND-CP amending some provisions o
0评论2022-07-035
Increases to Minimum Monthly Wages from July 2022
Responding to the expectations of employees during the past two years, on 12th June, 2022 the Vietnamese Government issued Decree 38/2022/ND-CP with many notable changes related to the Minimum Monthly Wages in the coming time.
0评论2022-06-222
Extension of payment deadline for VAT, CIT, PIT, and land rental in 2022
On 28 May 2022, the Government released the Decree 34/2022/ND-CP (Decree 34) on payment deadline extension for Value Added Tax (VAT), Corporate Income Tax (CIT), Personal Income Tax (PIT), and land rental in 2022. This belongs to one of the financial and
0评论2022-06-035
Vietnam’s manufacturing and expansion opportunity for foreign investors in 2022
Vietnam has emerged as one of Asia’s great success stories, backed by stable political system, commitment to sustainable growth, relatively low inflation, strong FDI inflows, youthful and digital population, and strong manufacturing sector. In addition, t
0评论2022-04-279
Proposed increases to Minimum Monthly Wages by 6% from 1 July 2022
On 12 April 2022, Vietnam’s National Wage Council finalised their proposal to increase Minimum Monthly Wage for employees in Vietnam at an average of 6% across the 4 regions, effective from 1 July 2022. This increase is subject to the Prime Minister’s fin
0评论2022-04-157
The authorities approve a 2% VAT reduction on applicable goods and services starting with February 2
In 2021, the situation in Vietnam regarding the COVID-19 outbreak grew more complex and negatively affected trade and production activities across the country, resulting in slow economic growth in 2021. To support the socio-economic development recovery p
0评论2022-01-208
Full Social Insurance Contributions for foreign employees working in Vietnam effective from 1 Januar
From 1 January 2022, foreign individuals working in Vietnam and their employers are required to fully participate in Vietnam’s compulsory Social Insurance program, resulting in an increase in the social insurance contributions for both employers and emplo
0评论2021-12-0810
The fintech ecosystem in Vietnam: significant room for growth
Enabled by the e-commerce rise in 2020 and 2021, Financial Technology became one of the fastest growing business sectors globally, with Vietnam at the forefront of Fintech growth. In the following insight, we present the scalability potential and the chal
0评论2021-12-016