Company News
New Amendment Set to Alter Vietnam’s Insurance Market
Vietnam’s draft law on the amendments and supplements to the Business Insurance Law will be submitted to the Vietnamese National Assembly for approval at the body’s next meeting, to be held from October 20 to November 27.
Vietnam to Open Up Express Delivery Market to Foreign Companies
To fully comply with WTO policies, Vietnam has committed to opening up its growing express delivery market to create a level playing field for both domestic and foreign express mailing companies.
Vietnam May Suspend New Licensing in Energy Inefficient Cement Sector
Vietnam’s Ministry of Construction (MoC) hopes to pass a suspension in the licensing of new cement production projects in an effort to cool the sector’s rapid development and inefficient use of energy, according to the Vietnam News Service.
Update on Treatment of Non-Public Joint Stock Company Shares
The Ministry of Finance has confirmed that shares of non-public joint stock companies will not be treated as securities following Letter 12501/BTC-CST issued on September 20.
Proposed Law on Securities May Restrict Private Offerings
A proposal to make changes to the Law on Securities may restrict activity for private stock offerings as part of efforts to shield shareholders.
Vietnam Issues Draft Decree on Retail Services
Vietnam’s Ministry of Industry and Trade released its draft decree on retail services last week tackling the Economic Needs Test (ENT), which acts to restrict foreign investment entry in the retail industry.
Law on Commercial Arbitration Effective 2011
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.
Personal Income Tax Finalization for Expats
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.
Vietnam to Set Up Tax Agency for Large Businesses
Vietnam has established the Large Enterprise Tax Management Department to specifically cater to the tax issues and payment needs of major corporations.
Update on CIT Incentives and Deductibles
Tax authorities clarified in June that corporate income tax incentives shall not apply to new business activities after a foreign company has already been granted an investment certificate.