Newsletter Nov-Dec 2009

31-December-2009
Under Decree 88, property owners are only issued with the Certificates after they have completed financial obligations in accordance with the laws. In case of leases, the lessees must have signed the land lease contracts and completed financial obligations under the contracts.

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Newsletter Sept-Oct 2009

9-November-2009
Public Offering is compulsory when an investor and its related party holding less than 25% of shares/fund certificate of a public company/closure investment fund intend to purchase more shares/fund certificate of such public company/closure investment fund so that leads to the shareholding ownership of 25% or more of shares of the public company/closure investment fund.

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Newsletter Aug-2009

12-September-2009
The annual rent tariff shall be 0.5% to 2% of the land price (of the particular land) determined by the Provincial PC. In cases of areas with especially difficult socio-economic conditions, the rent could be lowered to 0.25% of the land price.

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Newsletter Jun-Jul 2009

27-July-2009
The National Assembly of Vietnam recently adopted the Amending and Supplementing Law relating to basic construction investment on 19 June 2009. The Law extends the deadline for foreign invested companies which are incorporated in Vietnam to reregister and operate in accordance with the 2005 Law on Enterprises and Law on Investment.

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Newsletter Apr-May 2009

15-June-2009
Currently, the cap of holding shares of a listed company by foreign investors is 49% (the “49% Cap”). There are significant changes regarding the meaning of “foreign investor” under Decision 55.

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Newsletter Mar-2009

14-April-2009
The Government is preparing several amendments to regulations affecting basic construction investment. The proposed amendments to basic construction will affect the following regulations such as the Investment Law, the Enterprise Law, the Construction Law, the Land Law, the House Law, the Corporate Income Tax Law, the Tendering Law, the Environment Protection Law and the Fire Fighting and Protection Law.

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Newsletter Feb-2009

12-March-2009
The new Law on Personal Income Tax became effective on the 1 January 2009, requiring employers to deduct PIT from employees, declare and pay the withheld tax to the tax office. However, the Government has now deferred the withholding and payment of PIT from the 1st January 2009 to 31 May 2009.

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Newsletter Jan-2009

10-February-2009
Foreign investors are not allowed to authorize any individual or entity for asset management operations such as selection of securities, quantity of securities, pricing and timing for securities investment except for fund management companies licensed in Vietnam. Foreign investors are required to obtain a trading code, to maintain a bank account inside Vietnam and to use money on that onshore account for securities investment.

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Newsletter December 2008

2-January-2009
The Government has promulgated its first regulations on unemployment insurance. Unemployment insurance contributions will be paid monthly. Employers are required to contribute 1% of the total salary of employees eligible in the unemployment insurance regime. Employees are required to contribute 1% of their salary as stated in their labour contract.

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