The Draft Circular provides guidance on the tax compliance procedure, tax refund, the tax audit process and other tax administration related subjects.

The legal system in Vietnam follows the civil law tradition and is noticeably influenced by continental European codifications of civil law (particularly the French Civil Code).

After Brexit the UK negotiated an FTA with the Vietnamese government to be able to enjoy similiar or better trade conditions as it would have had under the EVFTA. In this update you can read some notable points.

The draft decree on social media management aims to protect children better. It provides a legal framework for live streaming and revenue-generating services provided on foreign and domestic social networks.

On 28 November 2023, the National Assembly of Vietnam officially passed the Law on Real Estate Business, replacing the Law on Real Estate Business 2014.

On 28 June 2023, the State Bank of Vietnam (SBV) issued Circular No. 06/2023/TT-NHNN (Circular 6) amending Circular No. 39/2016/TT-NHNN (Circular 39)...

Resolution 68/NQ-CP of 1 July 2021 and Decision 23/2021/QD-TTg of 7 July 2021 introduce 12 support packages for employees and employers seriously affected by the COVID-19 pandemic.

In July, the Ministry of Natural Resources and Environment released a draft decree on the implementation of the Law on Environmental Protection (LoEP) for public comment.

Decree 21 marks a significant effort of lawmakers in bringing the legislation on security transactions to the next level of maturity.

The Ministry of Natural Resources and Environment recently released the second Draft of the Law on Land (Second Draft) to replace the first Draft of the Law on Land (First Draft).

Financial sponsors have been becoming more active in Vietnam in recent years.

On 26 August 2021, the Government promulgated Decree 80/2021/ND-CP (Decree 80), guiding and detailing some provisions of the Law on Support for Small and Medium-Sized Enterprises (Law on SME).

Directives 15, 16 and 19 no longer provide guidelines in light of COVID-19. Instead, Resolution 128 outlines how services can be provided and businesses can operate.

As of 1 January 2022, Decree 85 aims to tax Vietnam-sourced income from local individual customers regardless if the merchant is local or foreign and will impact e-commerce activities.

Vietnam is still a relatively nascent market for private equity (PE). Deal sizes are often small (although getting bigger) and transaction struc­turing and procedures are complex and time-consuming.

It applies to both recyclable products and packaging and waste treatment.

Decree 31 provides details to implement the new Law on Investment. Note that there will be changes with regard to the approval of the investor and investment policy, investment guarantee, amendment of investment project, ...

To set the scene, Vietnam's current Labour Code was finalised on 20 November 2019 – a month before COVID-19 started in China – and took effect from 1 January 2021.

The definition of a "franchise" is covered in Article 284 of the Commercial Law 2005

Financial sponsors have been becoming more active in Vietnam in recent years. Especially buyout funds and growth PE funds have orchestrated some large deals in a growing number of domestic industries.