- HM&P: Vietnam International Law Firm
- HM&P: Vietnam International Law Firm
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- https://hmplaw.vn/
Insights
The information of increasing import tariffs has been rushing and turning around continuously since US President Donald Trump was elected to a second term has put Vietnamese businesses in the "high alert zone". The Trump administration's implementation of a series of new tariff policies to protect the domestic economy, reduce the trade deficit and boost domestic production has made the already "hard-to-eat" U.S. market even more difficult.
With new tariff policies implemented from the beginning of 2025, the preparation of a Certificate of Origin (C/O) is not only a normal administrative procedure but also a decisive factor to avoid being subject to penalties, refusal of customs clearance, or loss of the opportunity to compete in one of the world's largest markets. However, this process is posing a series of complicated obstacles, from cumbersome procedures, strict dossier requirements, to the internal limitations of Vietnamese enterprises. This article will point out the difficulties that businesses face when applying for C/O in the current context.
Decree No. 20/2025/ND-CP ("Decree 20") was promulgated on February 10, 2025, and will take effect on March 27, 2025, to address these shortcomings. However, whether the amendments truly meet the demands of modern tax administration and create a more favorable environment for businesses remains to be verified.
Decree No. 01/2025/ND-CP ("Decree 01"), which amends and supplements Decree No. 107/2018/ND-CP ("Decree 107") on rice export business, recently came into effect in early March. One key revision is that entrusted rice export enterprises must now also obtain a Rice Export Certificate ("Rice Export License"), similar to the enterprises receiving the entrustment. How does this regulation impact business operations, and what steps should enterprises take in response?
April is considered the peak season for General Meetings of Shareholders (GMS) as joint-stock companies hold their annual meetings in compliance with legal regulations. Selecting an appropriate meeting format, especially for public companies with a large and geographically dispersed shareholder base, poses a significant challenge in ensuring quorum requirements and facilitating shareholder participation in discussions. Virtual GMS is an emerging trend aligned with modern developments; however, in 2024, most enterprises have yet to embrace this transition. What are the underlying reasons, and are there viable solutions for companies to shift from the traditionally entrenched in-person GMS model?
The APEC Business Travel Card (ABTC) is a type of card issued by the competent authority of an APEC member economy to its businesspersons after obtaining approval for entry from other member economies . Upon being granted an ABTC, Vietnamese businesspersons will be permitted to enter and exit 19 other APEC member countries without needing a visa for the allowed duration of stay.
Through this article, HM&P Law Firm (“HM&P”) addresses key issues of the General Meeting of Shareholders (GMS), including the form of organization, shareholder verification, information disclosure, data protection, proxy, meeting minutes, extension of meeting time, and the authority of the Board of Directors (BOD). Additionally, it provides legal compliance guidance to help businesses ensure transparency and effective corporate governance.
In practice, many enterprises remain uncertain and encounter various difficulties when handling tax issues related to capital transfers. This article will clarify the tax obligations and requirements that businesses engaging in capital transfers must take into account, including applicable taxes, declaration obligations, payable tax amounts, potential legal risks, and tax incentive policies.
Recognizing the importance of such matters, HM&P prepared and published the “Legal Guidelines: Holding a General Meeting of Shareholders” in 2023, by which we received a lot of positive reviews from our valuable clients, public companies, joint stock companies as well as HM&P’s colleagues. With the desire to constantly support clients in best compliance with current regulations, once again, HM&P's team has adjusted and supplemented new information and regulations to provide joint stock companies with the most detailed instructions to comply with legal requirements when holding a GMS in 2025.
At the beginning of this year, multiple U.S. media outlets reported that KPMG U.S. was nearing the final steps to become the first of the "Big 4" auditing firms to operate a law firm in the country. The potential approval by the state of Arizona for KPMG U.S. Law Firm - an arm of the KPMG auditing firm - to operate independently has sparked a significant shift in the legal services market . Allowing non-lawyers to own law firms presents considerable disadvantages for traditional law firms but offers a major competitive edge to the world’s top auditing firms.
For many businesses, finding and selecting a law firm or legal practice (collectively referred to as “Law Firm”) to handle their legal issues has never been an easy task. With an overwhelming number of service providers, lawyers with varying levels of expertise and practice areas, and countless specialized legal criteria, those responsible for selecting legal service providers for their businesses often find themselves in a difficult position.
The abolition of the tax exemption policy for low-value imported goods is a necessary step to strengthen regulatory control and create a fair competitive environment between imported and domestically produced goods. However, the complete removal of this exemption also raises challenges in enforcement and the risk of financial burdens on consumers and small businesses.
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