NewsBriefs

View this page in: Tiếng Việt

A periodic summary of new rulings and other legal documents relating to legal, tax and investment developments in Vietnam.

Lower corporate income tax rates and other incentives for small and medium enterprises

21/07/17

A lower corporate income tax rate and other incentives will be granted to small and medium enterprises, effective 1 January 2018. These will be applicable to both foreign invested and domestic SMEs.

Draft decree amending regulations on commercial promotions

11/07/17

Aiming to make the rules more business friendly, the Government is proposing various changes, including a clearer definition of businesses conducting promotion activities, removal of the 7 day notice for certain promotion schemes, introduction of more ways to effect registration/notification, and more relaxed deadlines. However, some proposed changes may cause problems.

Transfer Pricing Developments – Vietnam

03/07/17

On 22 June 2017 the Ministry of Finance released Circular 41/2017/TT-BTC in an effort to provide further guidance on the application of Decree No. 20/2017/ND-CP and this Circular will also take effect from 1 May 2017.

Foreign Investors’ Rights under New Pharma Decree – Are we there yet?

19/05/17

Vietnam’s New Pharma Decree opens the door for foreign-invested pharmaceutical companies to actually exercise their long-time awaited import rights. This note sets out the key changes.

Draft Decree guiding the Law on Pharmacy

24/01/17

A new draft decree guiding the Law on Pharmacy would have far-reaching implications for the structuring and operations of pharmaceutical companies in Vietnam.

Representative Office Annual Operations Report

05/01/17

According to Decree 07/2016/ND-CP dated 25 January 2016, representative offices (“ROs”) of foreign companies in Vietnam are required to submit an annual operations report on their activities (“Report”).

Corporate Governance and Internal Audit – Towards the International best practices

11/07/17

Explore Decree No. 71/2017/ND-CP on Corporate Governance Guidance for Public Interest Companies and the Internal Audit Handbook.

Cyber security alert: Petya ransomware attack

30/05/17

A new wave of the Petya ransomware has been affecting a significant number of organisations across a wide range of target industries since Tuesday 27 June.

PwC (Vietnam) Limited: New legal entity’s name

30/05/17

The name of the legal entity PricewaterhouseCoopers (Vietnam) Limited has officially changed to PwC (Vietnam) Limited from 30 May 2017.

Mar

Feb

  • 28 Feb: Asset and Wealth Management: a new era of growth, disruption and opportunity English / Vietnamese
  • 27 Feb: New guidance from Customs on finalization reports for materials imported under export production mode English / Vietnamese
  • 23 Feb: An update on Immigration English / Vietnamese
  • 22 Feb: IFRS 15: revenue reporting’s global makeover English / Vietnamese
  • 15 Feb: SWIFT Customer Security Framework: The clock is ticking English / Vietnamese

Jan

  • 19 Jan: New Decree providing guidance on the Accounting Law 2015 English / Vietnamese

 

Dec

  • 19 Dec: Prime Minister: duplicative and overlapping tax and financial audits should be stopped English / Vietnamese
  • 16 Dec: Amendments to the Law on Investment English
  • 07 Dec: New Circular amending and supplementing some articles of management, use and depreciation of fixed assets English / Vietnamese
  • 05 Dec: Value added tax applied to trademark fees English / Vietnamese

Nov

Oct

  • 26 Oct: New Circular providing guidance on Vietnamese Corporate Accounting System for SMEs English / Vietnamese
  • 18 Oct: Employee share schemes for Vietnamese English / Vietnamese
  • 17 Oct: Discussion draft of new transfer pricing decree released English / Vietnamese
  • 13 Oct: Customs update: New rules for late submission of C/Os English / Vietnamese
  • 12 Oct: Submission of finalization reports on materials imported for export production English / Vietnamese

Sep

  • 26 Sep: New deadlines imposed on submission of C/Os English / Vietnamese
  • 21 Sep: Personal Income Tax (“PIT”) Enforcement English / Vietnamese
  • 20 Sep: New regulations guiding Law on Import & Export Duties English / Vietnamese
  • 19 Sep: Circular 130 guiding Decree 100 on VAT, SST and tax admin English / Vietnamese
  • 12 Sep: New Circular on licensing and management of foreign construction contractors operating in Vietnam English

Aug

  • 31 Aug: Decree No. 73/2016/ND-CP on the details of the implementation of the Law on Insurance Business and amendments to certain articles of the Law on Insurance Business English / Vietnamese
  • 23 Aug: PwC Legal continues Asia expansion with Partner hire in Vietnam English / Vietnamese
  • 15 Aug: New Circular on tax registration English / Vietnamese
  • 08 Aug: New regulations on VAT refunds: Increased supervision by the General Department of Taxation English / Vietnamese
  • 05 Aug: BEPS Working Group established English / Vietnamese
  • 04 Aug: New Decree on VAT, special sales tax and tax administration English / Vietnamese
  • 03 Aug: Decree guiding voluntary pension schemes English / Vietnamese

July

  • 20 Jul: New offshore indirect investment regulations English
  • 19 Jul: Reporting requirements - a reminder English
  • 15 Jul: Administrative penalties for violations in investment activities English

June

  • 30 June: Draft Decree on new Accounting Law - New regulations on providing cross-border accounting services English / Vietnamese
  • 09 June: PwC lists ten tech-driven forces shaping financial services in 2020 English / Vietnamese
  • 08 June: Changes in relation to administrative penalties English / Vietnamese

May

Apr

March

  • 25 Mar - Circular No. 53/2016/TT- BTC amending and supplementing some articles of Circular No. 200/2014/TT-BTC - Guidance on corporate accounting English / Vietnamese
  • 18 Mar - PwC study: FinTech is reshaping Financial services English / Vietnamese
  • 18 Mar - New Circular guiding taxation of upstream oil and gas activities English / Vietnamese

February

  • 24 Feb - Conditions applicable to foreign investment published on MPI’s website English
  • 24 Feb - Guidance on Business License Tax English / Vietnamese
  • 18 Feb - New Regulation on Work Permits English / Vietnamese
  • 04 Feb - New decree on representative offices and branches of foreign companies English

January

  • 22 JanUpdate on Vietnam Social Security Scheme for expatriate employees English / Vietnamese
  • 21 Jan - New Circular on Special Sales Tax English / Vietnamese
  • 18 Jan New regulations on labour contracts and disciplinary matters English / Vietnamese
  • 16 Jan - Accounting Law 2015 English / Vietnamese
  • 13 JanKey changes to the compulsory state social insurance scheme from 2016 English / Vietnamese
  • 11 Jan New export tariff and preferential import tariff effective 1 January 2016 English
  • 11 JanAnnual Corporate Income Tax return must be accompanied by audited financial statements English / Vietnamese
  • 08 JanCircular 155/2015/TT-BTC regarding information disclosure on securities markets English / Vietnamese

December

  • 28 Dec - 2015 Final Personal Income Tax Return English / Vietnamese
  • 15 Dec - Representative office annual operations report English / Vietnamese
  • 13 Dec - 2015 year end tax compliance English / Vietnamese
  • 8 Dec - Decree guiding the Law on Investment English
  • 4 Dec - Submission of Finalization report for export production scheme English / Vietnamese
  • 2 Dec - Establishment of Transfer Pricing Audit Divisions in Ho Chi Minh City, Binh Duong and Dong Nai English

November

October

  • 30 Oct - New guidance on use of company seals English
  • 29 Oct - New Circular on Natural Resource Tax English / Vietnamese
  • 27 Oct - Enforcement of Collection of Trade Union Fees English
  • 23 Oct - Value Added Tax (VAT) for staff welfare expenses English / Vietnamese
  • 23 Oct - Official letter of Ministry of Finance responding to questions relating to Circular 200/2014/TTBTC English / Vietnamese
  • 20 Oct - New approaches taken in tax audits in Vietnam - involvement of State AuditorEnglish

September

  • 25 Sep - First decree guiding the new Law on Enterprises issued English / Vietnamese
  • 17 Sep - New letter from the Ministry of Finance regarding applicable accounting regime for life insurance companies and reinsurance companies in 2015 English / Vietnamese
  • 9 Sep - FX rate applicable to transactions in foreign currency English / Vietnamese

August

  • 12 Aug - Duty/VAT waiver on actual materials in stock of Export Processing Enterprises English / Vietnamese
  • 12 Aug - Foreign Contractor Tax treatment of goods supplied to domestic market from bonded warehouse English / Vietnamese
  • 5 Aug - New Rules on Retiring Employees and Probationary Periods English / Vietnamese
  • 3 Aug - Financial year end 30 June tax compliance English

July

  • 27 Jul - Guidance for implementation of the new Law on Investment and Law on Enterprises English
  • 24 Jul - Important Changes on Personal Income Tax (“PIT”) English / Vietnamese
  • 13 Jul - PwC Forensic Newsletter - July 2015 English / Vietnamese
  • 8 Jul - PwC Legal NewsBrief_New regulations on foreign ownership of public companies English
  • 2 Jul - Guidance on the accounting system applicable to life insurance companies and reinsurance companies - Circular 199 English / Vietnamese
  • 2 Jul - Tax treatment in respect of the payment of the right to use intellectual property English / Vietnamese
  • 1 Jul - Enterprise data confirmation English

June

May

April

  • 21 Apr - New circular guiding customs valuation English / Vietnamese
  • 21 Apr - New circular guiding customs procedures English / Vietnamese
  • 6 Apr - PwC Saratoga Metric of the Month - April 2015 English / Vietnamese
  • 2 Apr - Special Preferential Import Tariffs to implement ASEAN – Japan and Vietnam – Japan Agreements during 2015 – 2019 English / Vietnamese

March

February

  • 27 Feb - Decree 12 guiding the new amended tax law English / Vietnamese
  • 6 Feb - New Circular providing guidance on Vietnamese Corporate Accounting System English / Vietnamese
  • 3 Feb - Saratoga Metric of the Month - Feb 2015 English / Vietnamese

January

  • 23 December 2014 - Ease of customs boosted by new laws English
  • 17 December 2014 - Representative office annual operations report English / Vietnamese
  • 15 December 2014 - Personal Income Tax (“PIT”) for employees of foreign contractors working in Vietnam English / Vietnamese
  • 10 December 2014 - New regulation on the import of mobile phones English / Vietnamese
  • 8 December 2014 - 2014 year end tax compliance English / Vietnamese
  • 4 December 2014 - 2014 Final Personal Income Tax (“PIT”)Return English / Vietnamese
  • 4 December 2014 - New law on residential housing - relaxation of rules for foreigners buying properties in Vietnam English
  • 2 December 2014 - PwC Saratoga: Metric of the Month - December 2014 English /Vietnamese
  • 1 December 2014 - Finance for Non-Financial Professionals, 2 day workshop – 27th and 28th January, 2015 in the Novotel Hotel, Ho Chi Minh City English
  • 1 December 2014 - Payment for share/equity acquisition English / Vietnamese
  • 28 November 2014 - Major new laws passed by National Assembly - New laws on investment and on enterprises English
  • 27 November 2014 - What sets top performing HR teams apart?English / Vietnamese
  • 26 November 2014 - Two new tax laws! English / Vietnamese
  • 25 November 2014 - New regulations on registration of operating offices of oil and gas subcontractors in Ba Ria Vung Tau Province English / Vietnamese
  • 21 November 2014 - Investments in Asia Pacific will continue to climb English / Vietnamese
  • 18 November 2014 - Minimum salaries increased from 1 January 2015 English / Vietnamese
  • 17 November 2014 - Import license for fertilizer products English / Vietnamese
  • 13 November 2014 - PwC former Global Managing Partner Jermyn Brooks talks at Eurocham Business Luncheon English
  • 12 November 2014 - Consumption norm adjustments for exported goods English /Vietnamese
  • 28 October 2014 - Circular 151 guiding Decree 91 on various tax issues English / Vietnamese
  • 10 October 2014 - A&P cap to be abolished English
  • 9 October 2014 - Decree 91 amending various tax decrees English / Vietnamese
  • 7 October 2014 - Forensics - Conflicts of Interest English
  • 3 October 2014 - Global State of Information Security Survey 2015 English / Vietnamese
  • 30 September 2014 - Circular 25 Foreign Loan Registration English / Vietnamese
  • 17 September 2014 - Further changes proposed to the draft Law on Investment English
  • 4 September 2014 - New customs law English / Vietnamese
  • 4 September 2014 - Simplification of tax filing procedures English / Vietnamese
  • 29 August 2014 - Resolution 63 proposing tax measures to address financial difficulties faced by enterprises English / Vietnamese
  • 27 August 2014 - Customs update: Import requirements for used machinery, equipment and production lines English / Vietnamese
  • 21 August 2014 - Decree 75 on Vietnamese employees working for foreign entities in VietnamEnglish / Vietnamese
  • 19 August 2014 - New Foreign Contractor Tax regulations – significant extensions in scopeEnglish / Vietnamese
  • 14 August 2014 - Revised TP Declaration Form English / Vietnamese
  • 1 August 2014 - Managing Vietnam Personal Income Tax of frequent business travellersEnglish / Vietnamese
  • 31 July 2014 - New Law On Bankruptcy English / Vietnamese
  • July 2014 - PwC launches Human Capital Benchmarking study English / Vietnamese
  • 25 July 2014 - New Land Law English / Vietnamese
  • July 2014 - Leading change English / Vietnamese
  • 14 July 2014 - Circular 78 on Corporate Income Tax (CIT) English / Vietnamese
  • 9 July 2014 - America dominates the world top 100 most valuable companies English /Vietnamese
  • 13 June 2014 - New measures targeting foreign sourced loans English / Vietnamese
  • June 2014 - Talent Adaptability - Global economy misses out on $150bn due to talent mismatch English / Vietnamese
  • 6 June 2014 - World Cup home advantage boost for Brazil, but England face battle in ‘Group of Death’, says PwC report English
  • 4 June 2014 - Personal income tax (PIT) applicable to airfares provided to employees working on a rotation basis: English / Vietnamese
  • 26 May 2014 - Circular 39/2014 on invoicing regulations: English / Vietnamese
  • 23 May 2014 - Tax relief for victims of recent riots: English / Vietnamese
  • 6 March 2014 - New Decree on invoicing: English / Vietnamese
  • 4 March 2014 - PwC People Services: English / Vietnamese
  • 20 February 2014 - Circular 219 on Value Added Tax (VAT): English / Vietnamese
  • 14 February 2014 - Guidance on 2013 Personal Income Tax (PIT) Finalisation: English /Vietnamese
  • 15 January 2014 - An update on work permit issuance in Ho Chi Minh City: English /Vietnamese
  • 14 January 2014 - Circular 201/2013 guiding the application of the Advanced Pricing Arrangement in tax administration: English / Vietnamese
  • 3 January 2014 - Circular 205/2013 on implementation of Double Tax Agreements: English /Vietnamese
  • 3 January 2014 - Decree guiding implementation of the Law on Advertising: English /Vietnamese
  • 3 January 2014 - Decree 209 on Value Added Tax: English / Vietnamese
  • 3 January 2014 - Decree 218 on Corporate Income Tax: English / Vietnamese