Business News

As you are aware, the new Labour Code of Vietnam was effective from 1 May 2013 and from that point of time until now, many decrees from the Government and circulars from the Ministry of Labour, War Invalids and Social Affairs have been issued to provided guidelines on the implementation of the new Labour Code.

[31-03-2014] In this issue, you will find reports on a number of important legal and economic developments in Laos, Cambodia, and Vietnam from January to March 2014. Across the legal, political and economic landscapes of the region, there have been significant changes to the rules on investment, import and export, and labor, providing both opportunities and challenges for businesses in the region.

[12-03-2014] Part I of this Legal Newsletter introduces a legal article titled "Do businesses need criminal records?" written by Mr. Tran Thanh Tung and Mr. Ngo Nhat Minh - Paralegal, issued in The Saigon Times on December 19th 2013. In this article, P&P analyze and discuss a number of issues related to the requirement that foreign individual investors must submit a copy of their criminal record when involve in capital contribution and share purchases of a Vietnamese owned company.

[10-03-2014] On 26 Feb 2014, the Ministry of Finance issued Circulatr 29/2014/TT-BTC ("Circular 29") amending and supplementing some articles of Circular 205/2010/TT-BTC on determination of dutiable price for imports and exports.

[06-03-2014] The Government has recently issued Decree 04/2014/ND-CP partly amending Decree 51/2010/ND-CP on invoicing. Decree 04 took effect from1March 2014. Key changes under Decree 04 include:

[03-03-2014] New polices on cash payment, exemption of export and import duty on raw material gold, preferential lending interest rate, and more incentives for the handicapped are scheduled to come into effect in March, 2014.

[21-02-2014] The Alert update on the requirement of audited financial statement which is covered in Official Letter No. 1339/BTC-CĐKT dated 24 January 2013 by the Ministry of Finance to the State authorities on receiving audited financial report of enterprises and organizations in line with regulations on accounting and auditing.

[21-02-2014] The Ministry of Finance has issued Circular No.219/2013/TT-BTC ("Circular 219") dated 31 December 2013 guiding the implementation of the law on Value Added Tax, the amended Law on Value Added Tax amending some provisions of the Law on Value Added Tax, and Decree No. 209/2013/ND-CP ("Decree 209") detailing and guiding the implementation of the Law on Value Added Tax.