2023

On May 31, 2023, Circular 33/2023/TT-BTC (Circular 33) on determining the origin of imports and exports was issued by the Ministry of Finance. Circular 33 comes into force from July 15, 2023, replacing Circular 38/2018/TT-BTC and other related Circulars. The issuance of this Circular is to address the remaining inadequacies of the previous Circulars, particularly Circular 38, by amending and supplementing them in order to be aligned with the current practical situation in determining the origin of exports and imports.

New regulations on determination of origin of imports and exports are presented by Pham Quynh Nhung.

On May 4, 2023, the Government issued Decree 20/2023/ND-CP amending and supplementing some articles of Decree 114/2021/ND-CP (Decree 114) on management and use of ODA and concessional loans from foreign donors (Decree 20). Decree 20, taking effect from March 01, 2022, specifies many notable new points in defining the order, procedure and the subjects authorized to decide investment policy of programs, projects using ODA and concessional loans.

New regulations on management and use of official development assistance (ODA) and concessional loans from foreign donors are presented by Tang My Ngan.

On April 26, 2023, the Government promulgated Decree 17/2023/ND-CP detailing several provisions and measures for the implementation of the Law on Intellectual Property on copyright and related rights (Decree 17), replacing Decree 22/2018/ND-CP, regulations on the protection of copyright and related rights in Decree 105/2006/ND-CP amended and supplemented by Decree 119/2010/ND-CP. Decree 17 potentially creates a significant impact on several parties such as organizations and individuals doing scientific research/academic studies, enterprises doing business in the fields of entertainment, and providing intermediary services.

Typical contents of the decree guiding copyright and related rights are presented by Luu Tue Dang.

In order to meet the practical situation and ensure compatibility with the reform direction of special consumption tax (SCT) in other countries, the Ministry of Finance is currently developing a project of Amended SCT Law (Project). The Project is in the proposal development phase, thus the available amendment contents are just proposed policies and subjects without regulations on specific measures (for example, tax rates). However, given the significance and impact of SCT-related regulations on production and business activities, enterprises need to update information related to the Project development process in order to devise and implement suitable business plans accordingly.

Highlights of the Proposal for Amended Special Consumption Tax Law are presented by Le Mai Phuong.

On February 28, 2023, Circular 13/2023/TT-BTC (Circular 13) was promulgated to guide Decree 49/2022/ND-CP amending Decree 209/2013/ND-CP guiding the Law on Value Added Tax which is amended under Decree 12/2015/ND-CP, Decree 100/2016/ND-CP and Decree 146/2017/ND-CP (Decree 49) and to amend Circular 80/2021/TT-BTC. Circular 13 shall take effect from April 14, 2023.

Some new regulations on value-added tax are presented by Le Hai Linh.