2022

In the context of the industrial revolution 4.0 and the strong explosion of demand for e-transactions, especially during the Covid-19 pandemic, the Law on E-Transactions 2005 has revealed certain shortcomings and limitations. In order to meet the practical requirements of socio-economic development and ensure the consistency with relevant legal provisions, the Law on E-Transactions (amended) (the Draft Law) is being drafted by the Ministry of Information and Communication and is currently in the process of collecting public comments.

Some provisions in the Draft Law on E-transactions (amended) are presented by Tu Thi Phuong Uyen.

In the context of on-going complicated and unpredicable development of the Covid-19 pandemic, which adversely impacts several businesses, the Government is developing a Draft Decree on extension of the time limit to pay value added tax, corporate income tax, personal income tax, land rents and water surface rents in 2022 (Draft Decree), which will be issued under simplified procedure. Inheriting the spirit of Decree 52/2021/ND-CP on extension of the time limit for payment of tax and land rents in 2021, the Draft Decree continues with the policy on extension of the time limit to pay value added tax, corporate income tax, personal income tax and land rents in 2022, and supplements water surface rent.

Highlights of the Draft Decree on extension of the time limit for payment of tax, land rents and water surface rents in 2022 are presented by Nguyen Thi Kim Anh.

During the past 2 years, the Covid-19 pandemic has caused a severe impact on the domestic economy. With an aim to support enterprises, cooperatives and business households to reduce difficulties resulting from the impact of Covid-19 pandemic, many policies have been implemented such as reduction of insurance premiums for occupational accidents and diseases, temporary suspension of contributions to the retirement and survivorship fund, loans to pay wages during work stoppage or to pay wages to restore production activities. With the goal of quickly recovering production and business activities, promoting growth drivers, on January 11, 2022, the National Assembly issued Resolution 43/2022/QH15 on fiscal and monetary policies to support the 2022-2023 socio economic recovery program, which includes the policy of interest rate support (2%/year) up to VND 40 trillion through commercial banking systems for several industries and fields or for certain borrowing purposes. On such basis, the State Bank is currently developing the Draft Decree on interest rate support from the state budget for loans of enterprises, cooperatives and business households.

Noticeable provisions of the Draft Decree on interest rate support from the state budget for loans of enterprises, cooperatives, and business households are presented by Nguyen Van Hai Dang.

After more than 1 year of issuance and implementation, Decree 153/2020/ND-CP on offer and trading of privately-placed corporate bonds in domestic market and offer of corporate bonds to international market (Decree 153) has revealed certain inadequacies in the context of overheating of the corporate bond market in Viet Nam, with the appearance of unlawful capital mobilization from bond issuance. As a result, the Ministry of Finance is drafting a Draft Decree for amending and supplementing Decree 153 to respond to the current developments of the market.

Some new provisions on offer and trading of privately-placed corporate bonds in domestic market are presented by Le Gia Khanh.

After almost 11 years of implementation, several provisions of the Law on Protection of Consumers’ Rights 2010 have been no longer consistent with the reality, causing many problems and inadequacies. In order to ensure the interests of consumers in the changing economic and social context, the Draft Law on Protection of Consumers’ Rights has been drafted and is now in the process of collecting opinions.

Some notable provisions in the Draft Law on Protection of consumers’ rights (amended) are presented by Nguyen Nhu Khanh Quynh.