Events
On 30 December 2020, The Government promulgated Decree No. 152/2020/ND-CP regarding foreign employees working in Vietnam (“Decree 152”). Decree 152 is effective from 15 February 2021 and replaces Decree No. 11/2016/ND-CP (as amended by Decree No. 140/2018/ND-CP).
Following the Government's Resolution No. 178/NQ-CP dated 12/12/2020, on 23/02/2021 the General Department of Customs (“GDC)” issued Official Letter No. 879/TCHQ-TXNK guiding the tax treatment for imports being materials used for export-production in which part of the production process is being outsourced to 3rd party vendor.
On 25/01/2021, the Ministry of Finance issued Circular no. 07/2021/TT-BTC ("Circular 07") providing guidance on the deadline to submit Certificate of Origin (“C/O”)(1) for goods imported into Vietnam under EU-Vietnam Free Trade Agreement (“EVFTA”).
We would like to bring you notable customs updates for January 2021 with the following highlights influencing the corporate operations activities:
For the upcoming 2021, we are delighted to offer this “Compliance Calendar 2021” in English and Vietnamese with the hope to help enterprises not missing any important deadlines. The issues include periodic requirements of tax and labour compliance as stipulated in the latest legal documents. Please kindly find the bilingual calendar in the Downloads section below and let us know if you have any questions about the deadlines or would like assistance in meeting them.
On 14 December 2020, the Government promulgated Decree No. 145/2020/ND-CP detailing and guiding the implementation of a number of articles of the Labor Code regarding labor conditions and labor relation (“Decree 145”). Such Decree provides for labor management, labor contract, labor outsourcing, dialogue at workplace, salary, working hour & rest hour, labor discipline & material liability, female employees & gender equality, domestic worker and labor dispute.
For people, businesses and society, 2020 was a year like no other. With the global Covid-19 crisis many have faced extreme challenges; people and families across the world have lost loved ones too early and suffered previously unthinkable restrictions to their lives and livelihoods as governments, companies and other institutions battled to contain the virus. The unique challenge for business has been how to respect the necessity to preserve life while fulfilling its duty to meet society’s needs in a financially sustainable way.
As we move into the new year, the Beyond the GAAP editorial team would like to wish you all the best for 2021: here’s hoping that the health crisis will soon be over...
The new brochure of Mazars in Vietnam has been released. This brochure presents our capabilities in Vietnam.
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