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Vietnam: Government Offers Tax Relief Measures

(Feb. 27, 2013) On January 7, 2013, Vietnam’s government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension on tax payments for the first quarter of the year and three-month extensions for the next […]

Vietnam: New National Law Intensifies International Dispute

(July 19, 2012) Amid escalating tension in the dispute over the East Sea (also known as the South China Sea), Vietnam approved a national Law on the Sea, which was officially announced by the President of Vietnam on July 16, 2012. (Vietnam Officially Announces Law of the Sea, TUOITRENEWS, (July 16, 2012); Q&A: South China […]

Vietnam: Code Amended to Balance Employer-Employee Interests

(June 21, 2012) Since its promulgation in 1994, the first Labor Code of Vietnam (International Labor Organization, NATLEX) has been amended three times, in 2002, 2006, and 2007. In 2012, the Code was amended again after approval by the National Assembly on June 18, 2012. (Announcement no. 20 of National Assembly XIII, session 3 [in […]

European Union; Vietnam: Steps Taken Towards a New Relationship

(June 4, 2012) Based on the European Union (EU) Council Decision No. 2012/279/EU of May 14, 2012 (EURLEX database), the representatives of Member States approved the signing of a partnership and cooperation agreement with Vietnam. (EU States Ratify Co-Operative Pact, TalkVietnam (May 16, 2012)). This agreement is the Framework Agreement on Comprehensive Partnership and Cooperation […]

Vietnam: Ban on Gold as Medium of Exchange

(Apr. 18, 2012) On April 3, 2012, the Prime Minister of the Socialist Republic of Vietnam (SRV) issued Decree No. 24/2012/ND-CP on the management of gold trading. The Decree stipulates that there will be a government monopoly of bullion production and of the import and export of raw materials for gold bar production. As of […]

China; Vietnam: South China Sea Agreement

(Oct. 17, 2011) On October 11, 2011, China and Vietnam signed an agreement aimed at resolving their disputes over control of parts of the South China Sea. The maritime borders at issue, over which Brunei, Malaysia, the Philippines, and Taiwan also have made claims, cover an area that has the potential to produce both oil […]

Vietnam: Prominent Lawyer Sentenced to Seven Years’ Imprisonment Plus House Arrest

(Sept. 2, 2011) On August 2, 2011, in a trial that lasted only half a day, Vietnam's Supreme People's Court upheld on appeal a lower court ruling that sentenced civil rights lawyer and dissident Cu Huy Ha Vu to seven years of imprisonment, followed by three years of house arrest. Vu was charged with carrying […]

Vietnam: State Companies to Limit Their Investments in Some Businesses

(Aug. 11, 2011) Vietnam's Ministry of Finance has drafted a decree that will change the maximum level of investment by state-owned enterprises in businesses outside of their core areas of responsibility. The draft is already being circulated to various state agencies for review and, if adopted, will replace the February 5, 2009, Decree No. 09/2009/ND-CP, […]

Vietnam: Prominent Rights Lawyer Sentenced to Seven Years’ Imprisonment

(Apr. 13, 2011) Lawyer-activist Cu Huy Ha Vu was convicted by the people's court of Hanoi on April 1, 2011, in a one-day trial, of spreading propaganda against and defaming the state in violation of article 88 of the country's Penal Code. The sentence is seven years' imprisonment plus three years of house arrest. The […]

Vietnam: Transfer Pricing Regulations Amended

(May 27, 2010) Effective June 6, 2010, Vietnam's Ministry of Finance Circular 66/2010/TT-BTC, amending the country's transfer pricing regulation (Circular 117/2005/TT-BTC) will take effect. Application of the new Circular is limited to transactions between enterprises and their related parties; it does not cover individuals, unlike Circular 117. (Rachel Saw, Transfer Pricing Regulations Amended, TAX NEWS […]