- HM&P: Vietnam International Law Firm
- HM&P: Vietnam International Law Firm
- 02873080839
- https://hmplaw.vn/
Insights
Global digital transformation is taking place at a rapid pace, cloud services such as Microsoft 365 have become indispensable tools for public organizations as well as private organizations. However, the use of these platforms poses a major challenge in terms of personal data protection, especially when data is transferred outside the domestic jurisdiction. The case of the European Commission (EC) being investigated and sanctioned by the European Data Protection Authority (EDPS) for using Microsoft 365 is a wake-up call for the protection of personal data in the public sector of many countries. The EDPS decision not only sheds light on the gaps in data management of one of the most powerful bodies in the European Union (EU), but also provides important lessons for countries like Vietnam, where the legal framework for protecting personal data is being built.
With the massive flow of foreign investment capital into Vietnam, Vietnam's stock market is one of the hot spots that strongly attracts resources of investors in the world. Along with that, the demand for establishing commercial presences in Vietnam is increasing, in which, the establishment of representative offices of foreign securities companies and fund management companies in Vietnam is considered the first step and the foundation for expanding business activities in the future. In the context of the continuous improvement of the legal system on securities and investment in order to approach international standards, the establishment of a representative office in Vietnam allows foreign securities companies and fund management companies to promptly grasp legal changes. at the same time, build strategic relationships with domestic regulatory agencies, financial institutions and potential investors.
The current Law on Corporate Income Tax ("Law on CIT") is being considered and amended by the National Assembly to meet the actual requirements of the domestic tax system, and at the same time be in line with the trend of international integration. In particular, this amendment takes place in the context that Vietnam has passed a Resolution on the application of additional corporate income tax under the global tax base erosion prevention mechanism, effective from January 1, 2024. The changes in the revised Draft Law on CIT not only directly impact the operations of domestic and foreign enterprises but also reshape tax policies to be more suitable for the current digital economy context. In this article, we will mention some notable expected adjustments in the amended Draft Law on CIT to help businesses proactively grasp the changes, to make appropriate adjustments to their business strategies in the coming time.
The recent official announcement of tax policies by the United States for a series of countries importing into the United States has significantly affected the global supply chain, including Vietnam. As a country that imports the majority of pharmaceuticals from the United States, European countries, ... Vietnam is at risk of being impacted on both exports and imports as input prices are pushed up, while regulations on import duties, documents of origin and tariff preferences are increasingly tightly managed. Not outside the reference system, the pharmaceutical industry is also one of the industries strongly affected by the fluctuating tariff policies from countries. In that context, compliance with regulations related to pharmaceutical import taxes is a mandatory requirement for businesses to maintain stable operations, avoid tax arrears or supply chain disruptions. So what are the points that businesses need to pay special attention to when importing pharmaceuticals into Vietnam in the current volatile period?
In the context of promoting the private economic sector and promoting the reform of the tax system, the termination of the form of flat tax for business households is a key content, attracting attention from state management agencies as well as the business community. Presumptive tax according to the Law on Tax Administration 2019 (amended and supplemented in 2020) is a method of determining tax liabilities based on presumptive turnover fixed by tax authorities, applicable to small-scale business households that do not have an adequate accounting system. Practice shows that this method still has many limitations, affecting publicity, transparency and fairness in the business environment.
Restructuring can take many forms, from financial restructuring (debt restructuring), capital restructuring (conversion of shareholders, issuance of new shares), ownership restructuring (merger, separation), to restructuring of management or production and business activities. This is a complex process that requires a deep understanding of business strategy, finance, governance, legal, and even the market.
The answer is not simple and depends on the legislative philosophy, the level of technological development, and the cultural perspective on privacy in each country. Some countries, especially in Europe, consider personal data as a fundamental human right and apply strict regulations. Meanwhile, in other regions, such as the United States, the approach is somewhat more flexible, creating a legal gray area where personal data is still widely traded. In this article, we will analyze the legal frameworks in key regions of the world – Europe, North America, Asia, Oceania, and South America – to clarify how countries handle the purchase and sale of personal data, while assessing global trends and making recommendations for Vietnam.
In the process of operation, many businesses in Vietnam have to carry out reorganization measures to adapt to the market, overcome crises or improve management efficiency. Two concepts that are commonly used in these situations are "internal restructuring" and "corporate restructuring." However, in practice, there are many cases where these two terms are used interchangeably, leading to confusion in strategic planning, legal implementation and resource allocation. This article aims to provide a clear and systematic analysis so that businesses, investors and legal practitioners can properly understand and effectively apply the above two concepts.
An increasingly developing economy, Vietnamese businesses are constantly expanding their scale and scope of operations. In order to maintain transparency, legality and efficiency in the decision-making process, joint stock companies need to strictly comply with legal regulations, especially the Law on Enterprises 2020. One of the important mechanisms to ensure shareholders' right to participate in governance without holding a face-to-face meeting is to collect shareholders' opinions in writing, specified in Article 149 of the Law on Enterprises 2020. This form allows the Board of Directors (BOD) to approve decisions under the jurisdiction of the General Meeting of Shareholders (AGM) flexibly, saving time and costs.
Accurate preparation and completion of forms related to work permits (WP) are essential steps for both enterprises and foreign workers to ensure compliance with current Vietnamese laws. In this article, HM&P provides a comprehensive guide and practical notes on how to complete these forms, ranging from legal information to specific requirements for each job position, to help businesses prepare their applications efficiently, completely, and in accordance with regulations.
Cross-ownership is not a new problem in the world, but in Vietnam, it has its own peculiarities due to the uneven development of the financial market and the legal system that has not kept up with the development of society and the economy. In the past period, many banks have taken advantage of cross-ownership to increase their influence, manipulate credit activities or hide their weak financial situation. As a result, a series of bank failures, such as the case of the Construction Bank or banks acquired by the State Bank for 0 VND such as Dong A Bank and Ocean Bank, all have traces of cross-ownership.
In mergers and acquisitions (M&A), especially high-value or strategic ones, ensuring the deal is not unexpectedly broken, not falling into an "auction trap" or not being unnecessarily prolonged, is a top priority for the buyer. In order to protect the interests invested throughout the negotiation process, the buyer usually requires the seller to agree to certain Deal Protection Provisions ("DPPs").
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