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Recently, the Government of Vietnam has agreed the proposal to reduce VAT in Vietnam from 10% to 8% for the rest of 2023. It is expected that the Ministry of Finance will submit a formal proposal to the National Assembly to issue an official Resolution for VAT reduction implemented according to simplified procedures. On April…
21
May
May
In the first half of 2023, the Ministry of Finance of Vietnam has consulted the people and those affected by the special consumption tax in the Draft Law on Special Consumption Tax (amended). As part of the Tax System Reform Strategy 2021-2030, the Draft Law on Special Consumption Tax of Vietnam includes four major policy…
07
Apr
Apr
The Komite Anti Dumping Indonesia (KADI) has issued a notice to initiate the review of the application of the second end-of-term anti-dumping measure for BOPP film products originating from Thailand and Vietnam on March 29th, 2023. The 2nd end-of-term review investigation (sunset review) on the application of anti-dumping measures on BOPP products was carried out…
09
Apr
Apr
The draft Law on Social Insurance of Vietnam adds specific provisions on acts of evasion of payment of Vietnamese social insurance contributions. If approved, these provisions will be applied in practice, serving as a legal basis to sue the violating party for evading social insurance contributions. By the end of January 2023, Vietnam Social Security…
10
Apr
Apr
The Vietnam Social Security Fund (VSS) has the word ‘Fund’ in its name. Thereby, this fund can also be understood with the same nature as any other investment fund on the market, with only one difference that this fund is under the control of the Government and State of Vietnam, not the business sector, a…
11
Apr
Apr
Vietnam’s draft revised Law on Social Insurance adds regulations on social pension benefits for a part of senior citizens who do not have a pension as well as other benefits to maintain a minimum life. Clause 2, Article 3 of the Draft Law on Social Insurance stipulates that a social pension is a policy where…
12
Apr
Apr
The Vietnam Social Insurance Fund for many years often gives bad information about the possibility of debt default, fund failure, liquidity loss, etc., when the number of employees who decide to withdraw lump sum social insurance from the fund increases sharply. This information worsened the psychology of employees depositing money into the fund, raising the…
02
Apr
Apr
On March 31, 2023, British Prime Minister Rishi Sunak publicly announced that the UK had completed the negotiation agreement to join the CPTPP and thereby, will officially join the CPTPP in the foreseeable future. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) CPTPP stands for Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which is a…
01
Apr
Apr
One of the notable points in the Draft Law on Social Insurance of Vietnam 2023 is the proposal to reduce the minimum number of years of paying social insurance contributions to be eligible to receive pensions in Vietnam. So, what are the specifics of this proposal? Clause 1, Article 71 of the Draft Law on…
06
Apr
Apr
In the Draft Law on Social Insurance of Vietnam in 2023, two options for lump sum social insurance withdrawal were proposed. Accordingly, there is a proposal that employees can only withdraw up to 50% of the time of paying social insurance contributions, which has aroused many objections in public opinion. The draft revised Law on…
