Decree No. 152/2020/ND-CP (“Decree 152”) came into effect on 15 February 2021 and made the conditions for obtaining a work permit (“WP”) stricter.

Post-Covid Asia Pacific recovery promises new opportunities for businesses. However, the need to replenish coffers, the changing international tax and geo-political landscape will pose challenges for tax regulators and tax leaders.

News on trade and customs developments from all over the world

On 23 August 2022, the General Department of Customs issued the Official Letter No. 3489/TCHQ-TXNK with new guidance on the declaration of royalty for imported goods.

The Foreign Contractor Withholding Tax applies to certain payments by a Vietnamese contracting party to foreign parties earning income from Vietnam without setting up a legal entity in Vietnam.

With Decree 29, the government of Vietnam instructed the local authorities to strictly supervise and evaluate foreign investments.