1. TB Advocates completed training for experts on Free Trade Agreements of new generation orgnized by the Vietnam Institute for Trade and Industry Sector – VITIS under the Ministry of Industry and Trade in November 2024 in HoChiMinh City. Pictures’ source: VITIS 2. TB Advocates actively participated in the Ministry of Industry and Trade’s forums…
Decision 07 providing the list of products, goods, services of which standard form contracts and general trading conditions are subject to registration On 20th June 2024, the Prime Minister Pham Minh Chinh has issued Decision No. 07/2024/QD-TTg (Decision 07) providing the list of 8 categories of products, goods, services of which the standard form contracts…
On 18th June 2024 the Department of Tax, the Ministry of Finance has issued Official Telegram No.02/CD-TCT instructing the local tax authorities to implement Decree 64/2024/ND-CP (Decree 64) dated 17 June 2024 of the Government regulating on the extension of the deadlines for payment of value added tax (VAT), corporate income tax (CIT), personal income…
On 17 June 2024 the Government has issued Decree 66/2024/ND-CP (Decree 66) on management of import of remanufactured goods traded under the commitments in the EU Vietnam Free Trade Agreement (EVFTA) and the UK-Vietnam Free Trade Agreement (UKVFTA). The Decree 66 is valid since its signing date. Conditions for the imported remanufactured goods under the…
On 28th May 2024, the Vietnamese Government (the Government) has issued Resolution 81/ND-CP (Resolution 81) on the proposal of developing the project of the National Assembly’s Resolution to reduce the value added tax (VAT). Following the initial proposal of the Ministry of Finance (MOF) in its Request 116/TTrTBC, the Government has assigned MOF to submit…
The application of the global minimum tax payable under Global Anti-Base Erosion rules Global anti-base erosion tax policy is an external policy that has a profound multifaceted impacts on Vietnam as a country that attracts and receives foreign investment projects. Referring to OECD’s Global Minimum Tax, also known as Pillar 2, provides for the global…
Compulsory insurance applied for foreign employees working in Vietnam Currently, foreign employee working in Vietnam are subject to compulsory healthcare insurance only and the employees are required to pay 1,5% 23 mil VND (20 times basis salary of Vietnam) and employer shall pay 3% of the same. The social insurance and unemployment insurance are not…
Resolution 139/NQ-CP sets Action plan for enterprises’ costs cutting On 9th November, 2018, the Government has issued Resolution 139/NQ-CP (Resolution 139) providing the Action plan for enterprises’ cost cutting, including costs for compliance with legal regulations in order to enter the Vietnamese market. The Government has requested Ministries, inter-ministerial agencies and local authorities to…
Economic Needs Test Under Decree 09/2018/ND-CP Under Decree 09/2018/ND-CP (Decree 09), effective on 15th January 2018, detailing the Law on Commerce and Decree 23/2007/ND-CP (Decree 23) on international goods sale and purchase and related activities of foreign-invested enterprises. Decree 09 has removed some constraints caused under Decree 23 and the regulations of the 2014 Law…
Minitry of Industry and Trade sets procedures to control and verify the origin of exported goods On 30th October 2018, the Ministry of Industry and Trade (MOIT) has issued the Circular 39/2018/TT-BCT regulating on control and verification of the origin of the exported goods (Circular 39). Circular 39 enters into force on 14th December 2018….
