ALIAT – Legal Updates

Legal Updates

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%

Legal Updates, Resources

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

Legal Updates, Resources

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

Legal Updates, Resources

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

Legal Updates, Resources

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

Legal Updates, Resources

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

Legal Updates, Resources

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").

Detailed Guidance on Global Minimum Tax Under Development

Legal Updates, Resources

On November 29, 2023, the National Assembly of Vietnam passed Resolution No. 107/2023/QH15, introducing a supplementary corporate income tax (CIT) policy aligned with the global anti-base erosion rules, effective from January 1, 2024 (“Resolution 107”).

Special investment procedures for encouraged sectors

Legal Updates, Resources

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

Legal Updates, Resources

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”).

Stay ahead of the curve with the latest legal insights and updates from ALiat Legal.

Sign up with your email below to stay informed.