Other Briefings
Law on Commercial Arbitration Effective 2011
Sept. 3 – In June, Vietnam updated its law on commercial arbitration to give investors another option to resolve both contractual and non contractual disputes beginning January 1, 2011. The Law on Commercial Arbitration, also referred to as Law 2010, is a step forward towards aligning Vietnamese regulations to international standards. The new law improves […]
Personal Income Tax Finalization for Expats
Sept. 2 – Expatriate employees leaving the country must finalize their personal income tax requirements within 45 days after the termination of their work contracts in Vietnam according to Circular 60/2007/TT-BTC. Failure to finalize tax requirements will be subject to the following penalties:
Use of Digital Signatures Encouraged
Aug. 25 – Vietnam’s Ministry of Industry and Trade and the Ministry of Information and Communications encouraged the use of digital signatures for government agencies and companies during a workshop held in Ho Chi Minh City on Tuesday. The use of digital signature will pave the way for the development of electronic commerce in the […]
First Vietnam WTO Trade Policy Review Set for 2012
Aug. 23 – Vietnam’s first trade policy review (TPR) is set for 2012 following the requirements of its membership in the World Trade Organization. The Ministry of Industry and Trade announced the schedule of the TPR during a seminar held in Hanoi on August 12. WTO members are all required to conduct regular TPRs and […]
Vietnam Currency Devalues, Drops to Record-Low
Aug. 18 – Vietnam’s currency, the dong, dropped a further 1.1 percent to VND19,320 against the U.S. dollar from VND19,425 earlier as part of government efforts to rally economic growth and increase exports, said economists. Yesterday, the central bank let the dong’s daily reference rate slip by 2 percent to VND18,932 per dollar. “The main […]
Banned Goods and Services List to Expand
Aug. 18 – The Ministry of Industry and Trade is planning on expanding the list of banned goods and services from 92 to 101. Some of the forbidden items on the list will include sky lanterns, antiques with historical value and gold trading floors at banks. It will also ban specific dangerous chemicals and smuggled […]
New Enterprise Code Number to Serve as Registration and Tax Code
Aug. 11 – Beginning June this year, authorities are to issue each company an Enterprise Code Number (ECN) that will be used as both its business registration code and tax code. Following Decree No. 43, the ECN will be unique to each company and will help cut down on bureaucracy and make it easier for […]
Dung Quat Economic Zone to Expand into an Industrial City by 2025
Aug. 9 – Quang Ngai Province authorities in south central Vietnam are proposing plans to expand the Dung Quat Economic Zone into an industrial city by 2025. There are plans to develop the economic zone from 10,300 hectares to 45,332 hectares; adding heavy industrial production facilities for the petroleum and chemical business in addition to […]
Vietnam Clarifies Housing Rent Tax for Expatriate Employees
Aug. 6 – Authorities clarified regulations regarding input value added tax on housing rent for expatriate employees in an official letter released July 22. Official Letter No. 2696/TCT-CS verifies that expatriate employees holding management positions in Vietnamese companies and working in the country with a valid labor contract shall have their housing rental included in their […]
New Issue of Vietnam Briefing: Establishing Representative Offices in Vietnam
Aug. 4 – In this issue of Vietnam Briefing, we look at the process of establishing representative offices in Vietnam. As the second best performing economy in the region this year, many foreign investors are now considering building a presence in Vietnam to take advantage of the robust growth. A representative office is the simplest […]
