2024

Decree 01/2021/ND-CP on enterprise registration (Decree 01) has positively impacted administrative procedure reform in enterprise registration but also revealed certain shortcomings. Therefore, the Ministry of Planning and Investment is currently developing a draft to amend and supplement several provisions of Decree 01 in order to tackle the drawbacks of this Decree and to continue promoting administrative procedure reform.

New regulations of the draft decree amending Decree 01/2021/ND-CP on enterprise registration are presented by Nguyen Thi Hong Nhung.

After more than 15 years of implementation, the applicable Law on CIT has shown inadequacies and is no longer suitable for the current economic context. Consequently, the Ministry of Finance has developed the Law on CIT (amended) to submit to the Government with the goal of institutionalizing guidelines and policies on reforming the CIT policy system.

Some new points of the Draft Law on Corporate Income Tax (amended) are presented by Nguyen Thi Thanh Mai.

The Law on Value-Added Tax 2008 was passed on June 3, 2008 at the third session of the XII National Assembly, and subsequently amended and supplemented in 2013, 2014, and 2016 (Law on VAT 2008). After more than 15 years since its official effective date (January 1, 2009), the Law on VAT 2008 has significantly contributed positive results to the state budget and the economy, however, this Law has also revealed certain inadequacies, making it incompatible with current socio-economic development. Therefore, the Ministry of Finance is drafting the Law on VAT (Amended) (the Draft) to refine the regulations on VAT policy, codify issues that have been empirically validated, and ensure the consistency of the legal system, aiming at international economic integration. The Draft substantially inherits the Law on VAT 2008 but amends and supplements many provisions, closely following the requirements of the Tax System Reform Strategy to 2030 by the Prime Minister.

Some new points of the Draft Law on Value-Added Tax (amended) are presented by Nguyen Quoc Dung.

The Law on Employment 2013 is the first law that fully and comprehensively regulates the employment relationships and labor market in Viet Nam. However, after over nine years of implementation, the Law on Employment 2013 has shown several inadequacies that are no longer suitable for the current practice and socio-economic context. Therefore, the Ministry of Labour – Invalids and Social Affairs is developing a Draft of Law on Employment (amended) to implement new orientation and policies of the Party, ensure the synchronization, consistency, and suitability of the legal system and international commitments that Viet Nam participates in.

Some new points in the Draft of Law on Employment are presented by Dang Huyen Thu.

After a decade of implementation, besides certain advantages, the Law on Social Insurance 2014 has gradually revealed numerous deficiencies and limitations and is no longer suitable for the current socio-economic development. Therefore, the Draft Law on Social Insurance (the Draft Law) is being prepared and discussed with a focus on overcoming current shortcomings of the Law on Social Insurance 2014. Some new points possibly affecting the internal operations of enterprises in the Draft Law will be analyzed in this volume of Legal Newsletter by NHQuang&Associates.

Some key aspects of the draft law on social insurance are presented by Pham Quynh Nhung.