Currently, 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 some important new points that could affect business activities.
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Outstanding points on sea encroachment activities
On April 16, 2024, the Government issued Decree No. 42/2024/ND-CP providing detailed regulations on sea encroachment activities (Decree 42). This Decree is formulated and promulgated with the aim of providing detailed guidelines for Article 190 of the Law on Land 2024 and applies to agencies, organizations, and individuals involved in sea encroachment activities, except for activities serving national defense and security purposes.
Read moreSome outstanding regulations on fees for appraisal and assessment of mineral reserves and charges for licensing for mineral activities
On February 5, 2024, the Ministry of Finance promulgated Circular 10/2024/TT-BTC stipulating the collection rate, regime of collection, payment, management and use of the fees for appraisal and assessment of mineral reserves and charges for licensing mineral activities (Circular 10), replacing Circular 191/2016/TT-BTC and Circular 91/2021/TT-BTC. Circular 10 takes effect from March 21, 2024.
Read moreSome typical new regulations of the Land Law 2024
On January 18, 2024, the National Assembly promulgated Law on Land No. 31/2024/QH15 (Land Law 2024), which takes effect from January 1, 2025. The Land Law 2024 has many outstanding amendments and supplements that address the limitations of the previous law. This article analyzes some typical contents of this Law related to the operation of real estate and energy businesses, which are researched and contributed by lawyers of NHQuang&Associates during the development of the Land Law 2024.
Read moreContinual application of value-added tax reduction policy
On December 28, 2023, the Government issued Decree 94/2023/ND-CP on value-added tax (VAT) reduction policy under Resolution 110/2023/QH15 dated November 29, 2023 of the National Assembly (Decree 94). Decree 94 takes effect from January 1, 2024 to the end of June 30, 2024.
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