Category Archives: Production, trade and service activities

Since January 1st 2022, foreign employees can participate in the full compulsory social insurance regimes like Vietnamese employees

Based on Decree 143/2018/ND-CP, Resolution 68/NQ-CP, Resolution 126/NQ-CP amending Resolution 68/NQ-CP, the social insurance policies have significantly changed. Especially, there are two important changes that enterprises need to notice: Firstly, enterprises start to pay more 14% of the salary funds on which social insurance premiums into the retirement and survivorship fund for foreign employees working […]

The Labor Code No. 45/2019/QH14, will take effect on 1st January, 2021

The Labor Code No. 45/2019/QH14 (“the Labor Code 2019”) is ratified by the 14th National Assembly of Socialist Republic of Vietnam during its 8th session on November 20th, 2019. It shall enter into force as of 1st of January 2021. The promulgation of this Labor Code is necessary and appropriate because the practice still has […]

Law on Investment will take effect on January, 2021

On 17 June 2020, the new Law on Investment (“New Investment Law”) was passed by the National Assembly of Vietnam. This will take effect on 1 January 2021. Market access conditions for foreign investors The most notable change in the New Investment Law is the introduction of the “negative list” approach, according to which foreign […]

New businesses are granted license tax exemption for their first business year

This is one of the highlights of the Decree No. 22/2020/ND-CP on amendments and supplements to the Decree No. 139/2016/ND-CP regulating license tax. This Decree adds more individual or institutional applicants are eligible for exemption from license tax obligations for the first year of their establishment, production or business (from January 1 to December 31 […]