Legal Newsletter | September 2022

Dear Valued Customers and Partners,

GV Lawyers would like to introduce to you Legal Newsletter of September 2022 with the following main contents:

In the first part of the newsletter, we will keep you updated about the novelties on foreign exchange management for international bond issuance, on compulsory civil liability insurance for third parties in construction activities. In addition, we will keep you updated with the regulations on electronic identification and authentication of enterprises.
Is it possible to establish an enterprise with too high or too low charter capital?, a subject for discussion in the article “What is large and small when it comes to the charter capital?”, Lawyer Do Duc Anh of GV Lawyers cites the case of an enterprise registering its establishment with a charter capital of VND500,000 billion in Ho Chi Minh City to analyze the purpose and meaning of registration of charter capital and affirms that the current Law on Enterprises does not limit the amount of charter capital when enterprises are established for business lines in which legal capital is not required. Thereby, he recommends that the licensing agency should have a more open view of charter capital when reviewing corporate establishment.
In the section “Good readings for you”, enterprises will be interested in VCCI’s proposals to remove legal obstacles relating to condotels and beach villas, and also the re-proposal by the Ministry of Construction to allow definite-term ownership of condominium units in the 2nd draft of the Housing Law (amended).
In the section “Legal Guidance“, we will update the questions related to tax policy such as: (i) Determining the price as a basis for calculating value-added tax on real estate transfers; (ii) Value-added tax for the rental of the positions for installing billboards and advertising equipment; (iii) Personal income tax of the individuals who sign service contracts with a company; and (iv) Corporate income tax on capital transfer activities.
The last part of the Legal Newsletter is, as usual, the list of selected latest legal documents issued.