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LEGAL COMMENTS
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Some new points related to bank guarantee

Circular 11/2022/TT-NHNN regulating the bank guarantee has been issued to replace Circular 07/2015/TT-NHNN stipulating the bank guarantee and Circular 13/2017/TT-NHNN amending and supplementing a number of articles of Circular 07/2015/TT-NHNN. Circular 11 will take effect from April 1, 2023.

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New contents of the Circular guiding compulsory insurance in construction investment

On August 11, 2022, the Ministry of Finance promulgated Circular 50/2022/TT-BTC guiding Decree 119/2015/ND-CP on compulsory insurance in construction investment and Decree 20/2022/ND-CP amending Decree 119/2015/ND-CP regulating compulsory insurance in construction investment. This Circular takes effect from October 1, 2022 and replaces Circular 329/2016/TT-BTC guiding the implementation of Decree 119/2015/ND-CP regulating compulsory insurance in construction investment activities.

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Notable provisions of the Decree on penalties for administrative violations in the field of environment

In order to provide the penalties compatible with the provisions of the Law on Environmental Protection 2020, Decree 08/2022/ND-CP and Decree 06/2022/ND-CP, the Government has issued Decree 45/2022/ND-CP on penalties for administrative violations in the field of environmental protection, taking effective from August 25, 2022.

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Regulations on the issuance of bonds to the international market by enterprises that are not guaranteed by the Government

On July 29, 2022, the State Bank of Vietnam promulgated Circular 10/2022/TT-NHNN guiding the foreign exchange management for the issuance of bonds to international markets by enterprises that are not guaranteed by the Government, which replaces Circular 17/2013/TT-NHNN.

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Notable contents on value-added tax

On July 29, 2022, the Government issued Decree 49/2022/ND-CP amending Decree 209/2013/ND-CP guiding the Law on Value-Added Tax, which was amended and supplemented by Decree 12/2015/ND-CP, Decree 100/2016/ND-CP and Decree 146/2017/ND-CP. The document will take effect from September 12, 2022.

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