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Official Gazette

Monday, July 6, 2020
Tags: Corporate Income Tax
Socio-economic issues heat up agenda of NAs ninth session Socio-economic issues heat up agenda of NA’s ninth session
Legislators on June 15 scrutinized the supplementary assessment of the implementation of the National Assembly’s resolution on the socio-economic development plan and State budget in 2019 and early 2020.
Ho Chi Minh City - a smart megacity of modern times Ho Chi Minh City - a smart megacity of modern times
HCMC is to date home to 16 industrial parks and three export processing zones, occupying a total area of 4,530 ha, plus the Sai Gon Hi-Tech Park and the 43-ha Quang Trung Software City.
Shaping a legal framework for cryptoassets in Vietnam Shaping a legal framework for cryptoassets in Vietnam
For the time being, there has been no unified definition of “cryptoasset” or “digital asset” or “virtual asset” in the world. According to the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, “a virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes.”[1] Canada’s model legislation regarding digital assets, the Uniform Access to Digital Assets by Fiduciaries Act, defines “a digital asset” as “a record that is created, recorded, transmitted or stored in digital or other intangible form by electronic, magnetic or optical means or by any other similar means.”[2] Cryptocurrency (or virtual currency) is a form of cryptoassets (or virtual assets). There is also no unified definition of this term in the world.
About 700000 firms to benefit from cut in corporate income tax About 700,000 firms to benefit from cut in corporate income tax
About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 percent from July 1 this year, down from the current rate of 20 percent.
Tax and land rental break decreed Tax and land rental break decreed
The Government on April 8 issued Decree 41 approving the extension of deadlines for payment of some taxes and land rentals in order to support businesses suffering the COVID-19 pandemic.
PM approves decree on postponement of tax and land use fee payments PM approves decree on postponement of tax and land use fee payments
Prime Minister Nguyen Xuan Phuc on April 8 approved Decree No. 41/2020/ND-CP about the extension of deadlines for tax and land use fee payments to support businesses suffering from the COVID-19 pandemic.
Science and technology: key to Ca Mau provinces development Science and technology: key to Ca Mau province’s development
Ca Mau is known for its ending point of the S-shaped country - Ca Mau cape - the only place in Vietnam where people can see both sunrise and sunset over the sea.
Improving access to resources critical for SME development Improving access to resources critical for SME development
Access to resources was vital for the development of small- and medium-sized enterprises (SMEs), according to the Ministry of Planning and Investment.
Fundraising through new channels - opportunities and legal challenges Fundraising through new channels - opportunities and legal challenges
The Fourth Industrial Revolution helps create new products and services as well as business models in an open atmosphere without any distance between the reality and cyber space. However, Vietnam’s existing legal framework still fails to meet the demand for realizing these products, services and models. It is not yet mature for the application of novel forms of raising funds from angel investors or venture investment funds. So far, there is no legal corridor for innovative startups, particularly fintech ones. This article introduces new fundraising channels and their legal challenges and puts forward recommendations for formulating a regulatory sandbox applicable to these channels.
Hung Yen province - ancient charm of northern delta Hung Yen province - ancient charm of northern delta
First founded in 1831 and re-established in 1997, Hung Yen province is renowned for the old saying “Thu nhat Kinh Ky, thu nhi Pho Hien” (the most important is the capital city, the second is Hien (Hung Yen) town).

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