Stay up to date with legal developments in Vietnam.
New Circulars on (1) Performing Electronic Tax Transactions, (2) Foreign Currency Transactions, and (3) Support Measures for Customers Affected by the COVID-19 Pandemic
In March, two circulars were issued regarding performing electronic tax transactions and foreign currency transactions. The first circular sets out, among others, the modes of registering electronic tax transactions. The second circular provides the guidelines for foreign currency transactions on foreign currency markets by authorised credit institutions.
Another circular was promulgated in April regarding debt rescheduling, interest reduction or exemption, or debt non-restructuring for the purpose of supporting customers affected by the COVID-19 global pandemic.
COVID-19, the disease caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), has spread across the globe causing severe economic and social disruption worldwide. While the world continues to see the detrimental effects of COVID-19, it also begins to welcome the unfolding global endeavour of vaccine development and deployment. The global pharmaceutical industry has announced its commitment towards developing vaccines for COVID-19, and several vaccines have since been authorised by various national regulatory authorities for public use, with vaccinations taking place in several countries across Southeast Asia.
This quick guide explores the various regulatory issues arising in different parts of Southeast Asia, briefly covering vaccine registration and administration, as well as each country's regulatory framework, as of 20 April 2021.
On 4 January 2021, the Government promulgated Decree No. 01/2021/ND-CP guiding the Law on Enterprise 2021 with respect to enterprise registration (“Decree 01”), replacing Decree No. 78/2015/ND-CP and its relevant amendments (“Decree 78”). Decree 01 sets outs guidelines on, among others, social insurance participation code of enterprises, tax code of dependent units, and application dossiers requirements.