Legal Newsletter | July 2023

Dear Valued Customers and Partners,GV Lawyers would like to introduce you to Legal Newsletter Issue No. 07 of July 2023.

This newsletter will catch you up on: (i) reduction of value-added tax, (ii) lending activities of credit institutions, (iii) guiding the Law on Insurance Business, (iv) and amending and supplementing a number of articles of the Decrees in the field of state management of the Ministry of Construction.
What are the development trends and transitions in Vietnam’s renewable energy sector according to Power Plan 8? In the article “Vietnam’s renewable energy landscape post-new policy implementation”, Ms. Nguyen Yen Nhi, Paralegal of GV Lawyers will analyse the development roadmap of renewable energy in Vietnam to point out the trend of shifting from solar power to wind power, especially offshore wind power as a great potential to attract investment capital from domestic and foreign investors. However, the current Vietnamese law has not fully governed the development of offshore wind power projects. Therefore, the author recommends that the Government should have more comprehensive guidance on future orientation and specific measures alike that will shape the green energy industry in Vietnam.
In the section “Legal Guidance“, we will keep you updated about the questions about tax policies such as: (i) Tax declaration for head office and branches; (ii) Tax obligations for foreign contractors; (iii) Value-added tax rate for services provided to export processing enterprises; and (iv) Conditions and documents proving family circumstances deduction for dependents.
The fact that the Ministry of Industry and Trade proposes a series of preferential mechanisms for rooftop solar power, and that the Ministry of Information and Communications recommends against the current imposition of special consumption taxes on online games is notable centerpiece in the section “Good readings for you”.
The last part of the Legal Newsletter is, as usual, the list of selected latest legal documents.