After more than 9 years of implementation, the provisions of the Law on Bidding 2013 have revealed many limitations and shortcomings when implemented in practice, and are no longer suitable for the current socio-economic situation. Therefore, to improve the regulations on bidding, on June 23, 2023, the National Assembly passed the Law on Bidding 2023, replacing the Law on Bidding 2013 and taking effect on January 1, 2024.
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New regulations on reduction of land rents in 2023
To support enterprises during difficult economic periods, on October 3, 2023, the Prime Minister issued Decision 25/2023/QD-TTg on reduction of land rents in 2023 (Decision 25). Decision 25, which is promulgated by the Prime Minister and comes into force from November 20, 2023, has contributed to reducing businesses’ burden in the context where the economy is facing numerous fluctuations, creating opportunities as well as motivation for enterprises to overcome the current difficulty.
Read moreJurisdiction of commercial arbitration in disputes over Non-Disclosure and Non-compete agreements
On October 1, 2023, the Supreme People’s Court announced 7 new precedents according to Decision No. 364/QD-CA of the Chief Justice of the Supreme People’s Court. These precedents will be applied in trials starting from November 1, 2023. Among them, Precedent No. 69/2023/AL regarding the jurisdiction of commercial arbitration in disputes over non-disclosure agreements is a noteworthy one.
Read moreSome notes on the application of top-up corporate income tax under Global anti-base erosion rules
On November 29, 2023, the National Assembly approved Resolution 107/2023/QH15 on applying top-up corporate income tax under Global anti-base erosion rules. The Resolution takes effect from January 1, 2024.
Read moreSome new regulations of Draft Decree amending the decree on invoices, records
In order to tackle the drawbacks of Decree 123 as well as further facilitate taxpayers, authorities, and organizations on activities related to invoices, records, the Ministry of Finance is currently developing a draft to amend, supplement several provisions of this Decree (Draft).
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