Legal updates

Nov 17 2016

On October 25th, 2016, the Ministry of Finance promulgated Official Letter No. 15120/BTC-CST providing specific guidelines on tax policies, fees, charges and other State budget revenues applied to border-gate economic zones ("Official Letter 15120") after receipt of feedbacks on the financial policies from enterprises. 

Nov 17 2016

On November 1st, 2016, the Government issued Decree 145/2016/ND-CP on amending and supplementing Decree 108/2013/ND-CP on administrative sanctions against infringements in the field of securities and the stock market ("Decree 145"). 

Nov 02 2016

On October 4th 2016, the Government promulgated Decree 139/2016/ND-CP adjusting business-license charges (“Decree 139”) substituting Decree 75/2002/ND-CP (“Decree 75”) which no longer suits practical application.

Nov 02 2016

On October 12th 2016, the General Department of Customs promulgated Official Letter 9744/TCHQ-TXNK (“Official Letter 9744”) guiding the declaration of goods codes and tax rate to perform the Export Tariff in accordance with Decree 122/2016/ND-CP dated September 1st 2016 (“Decree 122”) in order to remove obstacles and avoid blockage of goods at border gate, and to facilitate export enterprises.  

Nov 02 2016

As from November 1st 2016, Circular 115/2016/TT-BTC of the Ministry of Finance amending Circular 196/2011/TT-BTC guiding the initial sales of shares of wholly State-owned enterprises (“Circular 115”) shall officially take effect. 

Oct 13 2016

On September 20th, 2016, Ministry of Industry and Trade promulgated Circular No. 21/2016/TT-BCT (“Circular 21”) to deploy the rules of origin for the goods which are eligible for preferential tariff treatment under a Free Trade Agreement between Vietnam and Asia – Europe Economic Union (the “Rules of Origin”).

Oct 12 2016

On September 09th 2016, the Government promulgated Decree No. 135/2016/ND-CP (“Decree 135”), amending and supplementing some regulations of Decree No. 45/2014/NĐ-CP of the Government dated May 15th, 2014 providing on collection of land use levy ("Decree 45") and Decree No. 46/2014/NĐ-CP of the Government dated May 15th, 2014 providing on collections of land rent and water surface rent (“Decree 46”).

Oct 12 2016

On September 14th 2016, Ministry of Finance promulgated the Official Letter No. 12802/BTC-TCHQ on guiding the point for submitting Certificate of Original of the Goods (“C/O”). Accordingly, declarants are obligated to submit an original copy of C/O at the time of registering the customs declaration for dossiers in a form of hardcopy and at the time for customs declaration dossiers submitted via electronic manner.

Sep 22 2016

According to the Civil Code 2015, the maximum interest rate applied to the loan agreement is adjusted no more than 20%/year, and if both parties have no agreement on the interest rate or dispute over the interest rate, the applied interest rate shall not exceed 50% of the maximum interest rate. Meanwhile, the Civil Code 2005 regulated that the lending interest rate shall not exceed 150% of the basic interest rate which as regulated by the State Bank, is 9%/year

Sep 22 2016

On September 01st, 2016, The Law on Export and Import Duties No. 107/2016/QH13 promulgated by the National Assembly at the 13th session on April 06th, 2016 officially comes into effect (“LEID”).

Sep 22 2016

From August 12th, 2016, Circular No. 95/2016/TT-BTC of the Ministry of Finance dated June 28th, 2016 on tax registration guidelines officially comes into effect ("Circular 95"). Accordingly, the Circular 95 has some adjustments on the dossiers, procedures of tax registration, the change of the tax registration information and invalidation of the tax code in some specific cases.

Sep 22 2016

The Circular No. 105/2016/TT-BTC of the Ministry of Finance (“Circular 105”) has just come into effect on August 15th, 2016 to guide the activities of outward portfolio investments of securities business organizations, securities fund and insurance enterprises.

Sep 22 2016

On September 23rd, 2016, Circular No. 128/2016/TT-BTC of Ministry of Finance on the exemption, reduction of export, import duties for eco-friendly products, products from recycling, disposition of waste (“Circular 128”) will officially come into effect.

Sep 22 2016

To concretize the regulations on investment in the form of public private partnership, the Ministry of Planning and Investment promulgated the Circular No. 06/2016/TT-BKHDT dated June 28th, 2016 (“Circular 06”) to provide the specific guidance on the transformation for implementing the projects in the form of Build – Operate – Transfer Contract (BOT), Build – Transfer – Operate Contract (BTO), Build – Own – Operate Contract (BOO), Build – Transfer – Lease Contract (BTL), Build – Lease – Transfer Contract (BLT) and other similar contracts and the transformation plans in the form of Build – Transfer Contract (BT).

Sep 22 2016

As from October 01st, 2016, the Circular No. 11/2016/TT-BKHDT promulgated by the Ministry of Planning and Investment guiding to make the bidding dossier in engineering design, procurement all the equipment and materials, and construction (the “EPC”) will come into effect (“Circular 11”).

Sep 22 2016

The Ministry of Planning and Development promulgated the draft of Law on Amendment and Supplementation of some Articles of the Laws related to investment and business (the “Amending and Supplementing Law”) on September 01st, 2016. Accordingly, the Amending and Supplementing Law clarifies some content regulated in the Law on Investment and Law on Enterprises and also adds the related supplementations.

Sep 22 2016

Resolution No. 03/2016/NQ-HDTP of the Judges’ Council of the Supreme People’s Court guiding the Bankruptcy Law (“Resolution 03”) officially came into effect on September 16th, 2016 in order to guide the following matters: (i) the assets; (ii) the entities overseas involved in the bankruptcy process; (iii) the complicated bankruptcy cases; (iv) references of the bankruptcy decision; (v) temporary emergency measures; and (vi) bankruptcy of credit institutions.   

Aug 09 2016

On August 01st, 2016, Circular No 83/2016/TT-BTC of the Ministry of Finance promulgated on June 17th, 2016 guiding the investment incentive (“Circular 83”) came into effect.   

Aug 09 2016

On August 13th, 2016, Circular No. 10/2016/TT-NHNN promulgated by the State Bank on June 29th, 2016 for guiding some content regulated in the Decree No. 135/2015/ND-CP on outward indirect investments shall come into effect (“Circular 10”). 

Aug 09 2016

On June 23rd, 2016, the Ministry of Justice and the Ministry of Natural Resources and Environment promulgated Decree No. 09/2016/TTLT-BTP-BTNMT detailing the authorities, dossier and the procedures of registering the rights of land use and land-attached assets.