Legal Updates
Changes in VAT Rates for Various Goods and Services Effective from July 1, 2025
After 16 years of implementation, the 2008 Value Added Tax (“VAT”) Law has revealed numerous limitations and inadequacies in practical application.
Clarification on personal income tax on capital contribution transfer activities
In discussions with enterprises, in Official Letter No. 4082/TCT-QLN, the General Department of Taxation had affirm that the enterprise where the individual transfers their capital contribution is responsible for filing and paying the tax on behalf of the individual if the enterprise cannot prove that the individual have fulfilled their personal income tax obligations.
Land rent in 2024 may be reduced by up to 30%
Currently, the Government is finalizing and gathering opinion on a draft decree stipulating a reduction in land lease fee for 2024 to boost production and business.
Legislation on Personal Data Protection Regulations
To address the urgent need for a legal framework for personal data protection in Vietnam, the Government issued Decree 13/2023/ND-CP on Personal Data Protection ("Decree 13") in April 2023.
Adjustment of regulations on promotional activities
To simplify administrative procedures related to promotional activities and to create more favorable conditions for businesses, on 10 October 2024, the government issued Decree 128/2024/ND-CP (“Decree 128”) amending and supplementing several articles of Decree 81/2018/ND-CP (“Decree 81”) dated 22 May 2018, which detailed the Commercial Law regarding trade promotion activities.
Clarification on tax policy for discounts
In discussions with enterprises, the General Department of Taxation issued Official Letter No. 4991/TCT-CS dated November 5, 2024, providing opinions on VAT and corporate income tax (CIT) policies applicable to commercial discounts for goods and services.
Proposal for Continuing the Reduction of Environmental Protection Tax on Gasoline, Diesel, and Lubricants in 2025
Amidst global and domestic economic challenges, the Draft Resolution on the Environmental Protection Tax rates for gasoline, oil, and lubricants in 2025 ("Draft") is currently under consideration by the National Assembly. The Draft aims to alleviate difficulties, support citizens and businesses, and promote production, business activities, and economic development.
Proposal to Extend 2% VAT Reduction Until June 2025
In a continued effort to stimulate consumer demand and support businesses amidst ongoing economic uncertainties, the National Assembly is considering the Draft Resolution on extending the 2% VAT reduction until the end of June 2025 ("Draft").
Special investment procedures for encouraged sectors
On November 29, 2024, the National Assembly promulgated Law No. 57/2024/QH15, amending and supplementing several provisions of the Law on Planning, the Law on Investment, the Law on Public-Private Partnership Investment, and the Law on Bidding.
Proposed 30% reduction in land rental fees for 2024
Based on feedback from ministries, sectors, and local authorities, the Ministry of Finance has consolidated, finalized, and issued the Draft Decree on the reduction of land rental fees for 2024 on December 5, 2024 (“Draft”).
News
Golden opportunities for SMEs in stock market
Experts warn investors to assess valuation levels against the growth potential of these companies for informed decisions.
Vietnam’s trade surplus hits 1.47 billion USD in first two months
The country's export earnings grew by 8.4%, while its import turnover rose by 15.9%, resulting in a trade surplus of 1.47 billion USD.
Vietnam moves to tighten personal data protection, restricting ID photo requests
Vietnam’s draft Personal Data Protection Law aims to prohibit social media platforms from requiring ID card photos for account verification, enhancing user privacy and data security.
Vietnamese and Kyrgyz Prime Ministers visit Ho Chi Minh’s Stilt House
Prime Ministers Pham Minh Chinh and Adylbek Kasymaliev toured the Ho Chi Minh Presidential Site, visiting the Stilt House, fish pond, and sharing Vietnamese coffee in a gesture of friendship and cultural exchange.
Why is Japan so interested in Vietnam’s semiconductor workforce?
In the context of Japan’s ambition to revive its semiconductor industry, Vietnam’s workforce is seen as a solution to the island country’s thirst for human resources.
HCM City to invest in 8 major transport projects connecting Long An
Ho Chi Minh City is set to develop eight major transport projects, including highway expansions and new arterial roads, to improve connectivity with Long An and the Mekong Delta.
Hanoi to widen roads around West Lake and develop new bridge project
Hanoi has approved the expansion of key roads around West Lake and a new bridge connecting Thuy Su Lake to Dam Tri. The project aims to improve urban infrastructure while preserving the lake’s natural beauty.
SAT exam in Vietnam disrupted due to global system failure
A global system error disrupted the March 8 SAT exam in Vietnam, forcing students to stop early. College Board is investigating and will announce a resolution soon.
Vietnam’s declining birth rate: financial burden or shifting societal values?
While financial concerns are a key factor, experts argue that emotional stress and changing societal values are equally responsible for Vietnam’s declining birth rate.
Working for high wages but retiring with an insufficient pension
The wages used to calculate social insurance (SI) contributions that employees and employers have to pay are quite low compared to their actual income.
Publications
FAQs – PATENTS IN VIETNAM
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(Q&A) ESTABLISHMENT OF INUSTRIAL PROPERTY RIGHTS
GENERAL Industrial property rights mean rights of organizations and individuals to inventions, industrial designs, layout-designs of semiconductor integrated circuits (“layout-designs”), trade secrets, marks, trade names, geographical indications, and trade secrets they have created or own, and the right to repression of unfair competition. Q 1: How are industrial property rights established? Industrial property rights for […]
(Q&A) ESTABLISHTMENT OF PLANT VARIETY RIGHTS
Q 73: What are plant variety rights? Plant variety right means rights of an organization or individual to new plant varieties which such organization or individual has selected and created, discovered and developed, or which they own. Q 74: What legal documents govern plant variety rights in Vietnam? Plant variety rights in Vietnam are mainly governed […]
(Q&A) ENFORCEMENT OF IP RIGHTS
Q 85: What are the steps that the right holders should take to enforce their IP rights in Vietnam? Here are the general steps that IP right holders should take to enforce their IP rights in Vietnam: Monitor and identify potential infringement: IP right holders should regularly monitor the market to identify potential infringement of […]
Summary of the Madrid Agreement Concerning the International Registration of Marks (1891) and the Protocol Relating to that Agreement (1989)
The Madrid System for the International Registration of Marks is governed by two treaties:
Notice on the Handling of Applications of IP Vietnam
The Law No. 07/2022/QH15 on amending and supplementing articles of the Law on Intellectual Property was enacted by the National Assembly on June 16, 2022 and became effective on January 1, 2023. However, guidelines for the amended law have not been issued, causing difficulties in establishing and protecting IP rights. To address this issue, IP Vietnam issued Notice No. 333/TB-SHTT on February 2, 2023, outlining the handling of applications.
