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(Written by ASL LAW’s Senior Partner Nguyen Tien Hoa, Published on VIR) At a conference with small and medium-sized enterprises in early 2025, Prime Minister Pham Minh Chinh tasked the Ministry of Finance (MoF) and the Ministry of Science and Technology (MoST) with exploring the piloting of a cryptoasset exchange via a controlled testing mechanism….
03
Apr
Apr
The USA government has just announced a new tariff policy, applying to over 180 trade partners worldwide. This move is seen as one of the most assertive measures by the USA to adjust the trade balance and protect domestic manufacturing. Countervailing Tariff Rates and Scope of Application According to a statement by USA President Donald…
03
Apr
Apr
On April 2, USA President Donald Trump signed an executive order imposing countervailing import tariffs on dozens of economies. Vietnam is among the countries subject to the highest tariff rate, reaching up to 46%, second only to China at 34%. Meanwhile, countries such as the UK, Brazil, and Singapore face a 10% tariff, whereas the…
18
Mar
Mar
The Ministry of Finance (MOF) has proposed amendments to the 2008 Law on Excise Tax, focusing on taxable and non-taxable objects. The proposed changes aim to better align tax regulations with policies on public health protection and the management of high-end products and services. Taxation on Sugary Beverages To curb sugar consumption and protect public…
06
Feb
Feb
Recently, China officially announced its decision to file a lawsuit against the United States at the World Trade Organization (WTO) after the administration of President Donald Trump imposed new tariffs on imports from Beijing. According to a statement from China’s Ministry of Commerce on February 2, 2025, the U.S. tariff measures are considered a “serious…
08
Feb
Feb
Starting July 1, 2025, Vietnam will integrate tax data with the national population database by replacing personal tax codes with citizen identification numbers. This transition, mandated under Circular 86/2024/TT-BTC (“Circular 86”), represents a significant shift in Vietnam’s personal income tax (PIT) administration. Key Amendments Introduced by Circular 86 Vietnam’s Ministry of Finance issued Circular 86…
20
Jul
Jul
In a move to provide financial relief amid ongoing economic challenges, the Vietnamese government has issued Decree No. 64/2024/ND-CP, granting extensions for various tax payments and land rent due in 2024. This decision aims to support businesses and individuals by improving cash flow management and easing financial burdens. Personal Income Tax and VAT for Small…
02
Jul
Jul
Vietnam’s tax system plays a crucial role in maintaining state budget revenue, supporting socio-economic development, and ensuring social equity. Mastering the principles of tax declaration and calculation is essential for both businesses and individuals to comply with legal regulations, avoid legal risks, and optimize financial obligations. In this article, we will explore the basic principles…
03
Jul
Jul
Late tax payment is a significant issue in tax administration in Vietnam, directly affecting the state budget and potentially leading to serious legal consequences for taxpayers. To maintain the integrity and efficiency of the tax system, Vietnamese law clearly stipulates measures for handling late tax payments. This article will explore the current regulations regarding the…
04
Jul
Jul
Registering for tax for the first time is a critical step marking the beginning of fulfilling financial obligations to the state. This process requires accuracy and knowledge of legal regulations to avoid unnecessary mistakes. For new individuals and businesses, understanding key considerations when registering for tax for the first time will help them follow the…
