A periodic summary of new rulings and other legal documents relating to legal, tax and investment developments in Vietnam.
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Vietnam has three elements to its social security system - social insurance, unemployment insurance and health insurance.
Circular 195/2015/TT-BTC providing detailed guidance on the implementation of Decree 108/2015/ND-CP on Special Sales Tax became effective from 1 January.
On 20 November 2015, the Ministry of Finance (“MOF”) issued Accounting Law No. 88/2015/QH13 (“Accounting Law 2015”), which will supersede Accounting Law No. 03/2003/QH11 (“Accounting Law 2003”).
The Government issued Decree No. 07/2016/ND-CP on 25 January which comes into effect on 10 March replacing Decree No.72/2006/NDCP on representative offices (“RO”) and branches of foreign companies in Vietnam.
The Ministry of Labour, Invalids and Social Affairs issued Circular 47/2015/TT-BLDTBXH to provide guidance on a number of issues relating to labour contracts and disciplinary matters.
According to Decree 72/2006/ND-CP dated 27 July 2006, representative offices (“ROs”) of foreign companies in Vietnam are required to submit an annual operations report on their activities (“Report”).