Enterprises of different corporate types have difference in managerial mechanisms in which Board of Members (BM), General Meeting of Shareholders (GMS) and Board of Directors (BD) always play very important roles. This article aims to analyze 2 basic differences in terms of their legal status and decision-making rights.   BM in LLCs, partnerships GSM in JSCs BD in JSCs Multiple-member LLCs Single-member LLCs Partnerships Legal status The supreme governing body of the company Designated by the company’s owner, perform the owner’s rights and obligations in ..read more

 Decree No. 31/2021/ND-CP, providing instructions for implementation of the 2020 Law on Investment in effect as of March 26, 2021, Contains the Appendix listing several services and activities subject to restrictions on foreign enterprises’ investment. Below is this list: 1. Trading goods and services on the list of commercial State monopolies.   2. Press and information gathering activities in any form.   3. Fishing or fishery production.   4. Investigation and security services.   5. Judicial administration services, including judicial expertise service, bailiff s ..read more

 Sticking car decals is a usual need of the car owner. However, if the car owner wishes to stick a decal in different color than the original one and the decal covers a large part of the car body, can that owner be granted reissued inspection certificate for his/her car? In fact, this is an easy question. According to regulations laid down in the Circular No. 70/2015/TT-BGTVT, inspection certificates (register certificates) will become invalid in the following cases:   - Motor vehicles have already obtained new inspection certificates and stickers.   - Already receiving loss dec ..read more

 After assessment and approval of the first vaccine protecting against Covid-19 to be delivered in Vietnam, the Ministry of Health issues the Decision No. 1210/QD-BYT, approving the Plan to receive, preserve, allocate and use COVID-19 vaccines secured through the COVAX Facility for the 2021-2022 period. In this Plan, the recommended vaccine delivery schedule in 2021 is informed. This schedule is shown in the Appendix I to the Decision No. 1210 as follows: 1. 1st Quarter/2021: - Quantity:  Approximately 1.2 million of doses for about 600,000 persons. - Beneficiaries: No. Priori ..read more

 Currently, the State has licensed Covid-19 vaccines for use within the territory of Vietnam. Because of wishing to urgently vaccinate their employees, many enterprises have imported Covid-19 vaccines at their discretion for their own use. However, is this allowed?   The Resolution No. 21/NQ-CP, issued on February 26, 2021, regulates the purchase and use of COVID-19 vaccines.   As per regulations laid down in clause 7 of Article 4 in this Resolution, the State encourages competent entities to organize voluntary vaccination if they have demands and can pay for vaccination at thei ..read more

    When 2020’s final months are drawing on, it's high time for company’s accountants to be informed on time of new regulations on the schedule of submission of tax returns in the next year to update them on this schedule, ensuring that their tasks are completed and helping enterprises duly discharge and fulfill their obligations to file tax returns.      Below is the schedule of submission of tax returns in 2021. Month Deadline Types Legal bases Jan. 20/01 - Forms of declaration of VAT arising in Dec., 2020 - Forms of declaration of VAT aris ..read more

 Most people still feel confused about these two definitions. After reading this article, readers may find significant differences between wage/salary and income of a person.   Both wage/salary and income are earned by the provision of labor. So, let's see regulations of the 2012 Labor Code currently in force regarding the compensation package that a worker or employee can receive by providing his/her labor:       “Article 90. Wage/salary       1. Wage/salary refers to a sum of money that an employer pays a worker or employee for an agreed-up ..read more

On June 17, 2020, in the XIVth National Assembly’s 9th meeting, the 2020 Law on Enterprises was passed and is about to take effect on January 1, 2021 as a substitute for the 2012 Law on Enterprises. Below are several significant innovations in the new Law that you should take into consideration. Firstly, notification of sample corporate stamps: The existing regulation prescribes that, before use of corporate stamps, enterprises are obligated to inform business registries of sample corporate stamps so that they are publicly posted on the National Corporate Registration Portal. The newly-adopt ..read more

Below are detailed instructions about procedures for extension of temporary residence for foreigners who wish to continue to stay in Vietnam after end of their permitted temporary residence duration. There are a lot of reasons why foreigners wish to extend their temporary stay in Vietnam, including reasons related to their work, families, unexpected events, or even keeping themselves away from Covid-19 disease. *The following chart delineates procedures for extension of temporary residence for foreigners: Discussion matters Application procedures for decision on extension of tempor ..read more

In the context of the increasing number of infected and suspected cases, Vietnam has reported thousands of employees are quarantined due to suspected infection with corona virus. With a view to protecting them, what are benefits that they are granted if they are quarantined? 1. They are allowed to take paid leave due to quarantine This is an issue that has recently attracted a lot of attention. If you are quarantined due to this infectious disease, don't worry that you will receive wages or salaries as usual. According to provisions laid down in clause 1 of Article 98 in the 2012 Labor C ..read more