Henrison Law

16/07/2025

Bribery & Corruption Risks: A Cross-Border Challenge

Corruption and bribery risks remain a major challenge for businesses operating across borders, threatening long-term sustainability and compliance.
Henrison Law is honored to contribute to this insightful discussion. Represented by our lawyer, Phat Tran, we are pleased to share practical legal perspectives from Vietnam at the upcoming

🎤 Webinar: Bribery Prevention & Compliance for Australian Businesses in Vietnam

📅Hosted by Australian Chamber of Commerce Vietnam (AusCham), in collaboration with KPMG Vietnam, ANZ, Allens, and supported by the Bribery Prevention Network.

🔑 Key Topics Include:
• Australia’s Foreign Bribery Laws & Enforcement
• Vietnam’s Legal Framework & Compliance Landscape
• Practical Prevention Measures & Business Resources
• Case Studies & Industry Experiences

🤝Join us as we advance integrity and compliance in international business.

Registration link: https://auschamvn.glueup.com/event/charting-integrity-bribery-prevention-compliance-for-australian-businesses-in-vietnam-148045/

Anti-Bribery Rules for Offshore Australian businesses

15/07/2025

Navigating Vietnam's New Administrative Landscape: Initial Tax Hurdles for Businesses 🔐

Since July 1, 2025, Vietnam has undergone a significant administrative reorganization, streamlining its provinces and cities. While this aims for greater efficiency, our latest article from Henrison Law highlights that many Vietnamese businesses are currently facing initial confusion and technical hurdles when completing online tax procedures and public services.

Key challenges businesses are encountering include:

🔹 E-invoicing Discrepancies: Systems are not fully synchronized, leading to manual verification of customer addresses and delays in e-invoice issuance.
🔹 Tax Payment Complications: The restructuring has changed tax authority names, causing payment documents to get "stuck" if bank systems aren't updated with the new recipient information.
🔹 Data Synchronization Issues: General inconsistencies in data across various systems are adding to operational bottlenecks and potential compliance risks.

Understanding these nuances and technical requirements is critical to ensure continued compliance and avoid penalties during this transition. As your one-stop legal partner, Henrison Law is here to help you navigate these complexities.

Our services include clear guidance on updated tax procedures, troubleshooting e-invoicing and digital tax system issues, assisting with legal document updates, and resolving disputes with tax authorities.

Don't let administrative changes disrupt your business operations. Contact Henrison Law today for expert legal advice and practical solutions to ensure smooth tax compliance!

10/07/2025

Vietnam's Enterprise Law: Major Amendments for Businesses Starting July 1, 2025

Get ready for significant updates! Vietnam's Enterprise Law 2020 (Law No. 76/2025/QH15) is undergoing key amendments, officially taking effect on July 1, 2025. These revisions are designed to enhance transparency, streamline corporate governance, and align with Vietnam's broader economic development goals.

What these changes mean for you:
⚙ Heightened Beneficial Ownership Transparency: Expect new, clearer definitions and stricter requirements for reporting beneficial ownership. This move aligns Vietnam with international anti-money laundering standards, making corporate structures more transparent than ever.
⚙ Public Official Participation in Innovation: A notable change allows public officials to establish and manage businesses, specifically within the critical science, technology, and innovation sectors, under certain conditions.
⚙ New Capital Adjustment Rules: There are updated regulations for private placement of bonds by non-public companies, introducing limits related to equity ratios, with specific exemptions for certain industries.

These amendments will require businesses to review their internal processes, particularly for data collection and reporting.

As your trusted one-stop service provider, Henrison Law is here to guide you through these transitions. We offer comprehensive services including beneficial ownership compliance, corporate governance reviews, public official participation advisory, and business registration assistance.
Contact Henrison Law today for expert advice tailored to your corporate needs!

07/07/2025

Seamless Living in Vietnam: New Level 2 e-ID Launched for Foreigners!

Exciting news for foreign nationals residing in Vietnam!
Effective July 1, 2025, Vietnam has officially launched the issuance of Level 2 Electronic Identification (e-ID) accounts, a significant step championed by the Ministry of Public Security. This initiative is set to revolutionize the administrative experience, making it more convenient, secure, and user-friendly for foreigners while also enhancing state management efficiency.

Let's explore the key benefits and what this means for you:

💡 Simplified Procedures: Say goodbye to excessive paperwork! The e-ID enables easier online completion of various administrative procedures, reducing the need for physical visits and streamlining interactions.

💡 Enhanced Security & Authenticity: This digital ID ensures greater authenticity in transactions and provides robust protection for your legal rights during your stay in Vietnam.

💡 Access to Digital Utilities: The Level 2 e-ID will facilitate seamless access to a wide range of digital services and utilities across the country.

This is a crucial leap in Vietnam's national digital transformation and administrative reform efforts.

As your one-stop legal partner, Henrison Law is fully equipped to assist you with a smooth transition. Our services include comprehensive e-ID application guidance, support for residence and immigration matters, advice on digital administrative procedures, and corporate compliance for employers.

Contact Henrison Law today for tailored legal advice and on-the-ground support!

01/07/2025

Vietnam's Ambitious Leap: International Financial Centers Approved for HCMC & Da Nang! 🏢

Big news from Vietnam! In a landmark decision on June 27, 2025, the National Assembly officially approved the establishment of International Financial Centers (IFCs) in Ho Chi Minh City and Da Nang. This pivotal move ushers in a new era for Vietnam's financial landscape, backed by breakthrough policies designed to propel the nation onto the global financial stage.

What this means for businesses and the broader economy:

🟦 Strategic Specialization: Ho Chi Minh City will focus on developing capital markets, banking, money markets, and fostering FinTech innovation. Meanwhile, Da Nang is set to become a gateway for sustainable and green finance, leveraging its unique regional advantages.

🟦 Key Benefits: The establishment of these IFCs promises increased access to capital, a wider array of advanced financial services, and a commitment to attracting top-tier talent. This will enhance transparency and facilitate deeper integration with global financial markets.

🟦 Momentous Opportunity: This approval represents a significant opportunity for both domestic and international businesses in the financial sector, providing a robust framework for growth and innovation.

Navigating the nuances of these new financial hubs and their regulatory frameworks will be crucial. As your one-stop legal partner, Henrison Law is uniquely equipped to assist you with financial services licensing, investment structuring, FinTech advisory, tax consultation, and more.

Ensure your operations are strategically sound and legally compliant in this exciting new era. Contact Henrison Law today for tailored legal advice and strategic support regarding Vietnam's new International Financial Centers!

01/07/2025

Vietnam's National Assembly Pushes for Digital Asset Legal Framework: What's Next? 👨‍💻

Big news for the digital asset space in Vietnam! Our latest article from Henrison Law highlights a significant directive from the National Assembly, calling for the swift establishment of a legal framework to pilot the digital asset market. This move reflects a growing recognition of this sector's economic potential and the urgent need for regulatory clarity.

Currently, Vietnam lacks a comprehensive legal framework for managing, transacting, transferring ownership of, and taxing digital assets (which broadly include cryptocurrencies, NFTs, and other tokenized assets). The National Assembly is pushing for a pilot framework that will focus on three key areas:
🟦 Defining Scope & Subjects: Clearly outlining what constitutes digital assets and digital currencies, and identifying who will be regulated.
🟦 Taxation Policies: Developing robust policies for the collection, management, and utilization of taxes on digital assets and currencies.
🟦 Cross-border Transactions: Addressing foreign exchange management and crucial measures to prevent money laundering within the digital asset sphere.

This is a critical step towards formalizing and integrating the digital asset market into Vietnam's economy. As your one-stop legal partner, Henrison Law is at the forefront of advising on these emerging regulations, including digital asset and blockchain law, tax compliance, and investment advisory.
Ensure your business is prepared for these significant regulatory shifts.

Contact us today for tailored legal advice on navigating Vietnam's evolving digital asset landscape!

30/06/2025

Vietnamese D**g Depreciation: Unpacking the Paradox and Its Implications 📉

The Vietnamese D**g (VND) has seen a notable depreciation against the US Dollar this year, a seemingly counter-intuitive trend given the general weakening of the USD globally.

There are some key points to take away:

🔹 Key Drivers: Financial experts attribute the VND's decline primarily to seasonal foreign currency demand (like import payments and dividend remittances) and revised, less optimistic economic growth expectations influenced by ongoing trade policy uncertainties.

🔹 Regional Contrast: The VND stands out as one of the weakest currencies in the region, depreciating significantly even as other Asian currencies show signs of recovery.

🔹 Business Impacts: This depreciation can lead to increased import costs and higher debt repayment burdens for businesses with USD-denominated loans. While it might make exports more competitive, broader trade uncertainties could offset this benefit.

Understanding these macroeconomic factors is crucial for businesses with international trade, foreign currency exposure, or cross-border investments in Vietnam. While we don't offer financial forecasting, Henrison Law provides comprehensive legal guidance to help you mitigate risks associated with currency fluctuations and trade policy changes.

Our services include trade law advisory, investment structuring, contract review to mitigate currency volatility, and regulatory compliance guidance.

Stay informed about these pivotal economic developments. Contact Henrison Law today for tailored advice on how to legally safeguard your business interests amidst Vietnam's evolving economic landscape!

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30/06/2025

Vietnam's Tax Authorities Intensify Transparency Efforts: What Businesses Need to Know 💡

Vietnam's tax authorities are significantly stepping up efforts to ensure transparency in business transactions, particularly targeting "cash-only" practices and vague payment notes from household businesses and small traders. This move underscores a strong commitment to promoting cashless payments and preventing tax evasion.

Why are these practices under scrutiny?
🔹 Violations of E-invoicing Rules: Refusing bank transfers or using ambiguous notes (e.g., "loan payment") can violate new e-invoicing regulations (Decree 70/2025/ND-CP).
🔹 Increased Legal Risks: Tax experts warn that non-transparent transactions do not help avoid tax; instead, they significantly heighten legal risks for businesses.
🔹 Official Advice: Tax authorities strongly urge businesses to understand legal regulations, accurately declare all revenue, and conduct transactions with full transparency.

Navigating these intensified oversight measures requires diligence and expert guidance. As your one-stop legal partner, Henrison Law is here to help you ensure full compliance with Vietnam's evolving tax landscape. We offer services including tax compliance advisory, e-invoicing guidance, risk assessment, and dispute resolution.

Don't let non-transparent practices put your business at risk. Contact Henrison Law today for expert advice!

27/06/2025

Vietnam's Drive for Innovation: Unlocking PPP Opportunities in Science & Technology 🔐

Exciting developments are on the horizon for Vietnam's science, technology, and innovation (STI) sectors. A groundbreaking new Decree has been proposed by the Ministry of Finance, set to take effect on July 1, 2025, offering robust incentives for Public-Private Partnerships (PPP).

This strategic move aims to overcome previous PPP limitations in STI by providing:

🔹 Enhanced Tax Incentives: Including preferential corporate income tax, and import tax exemptions or reductions for eligible projects.
🔹 Increased State Capital Contribution: The state's capital contribution for PPP projects in STI can now reach up to 70% of the total investment, significantly higher than general PPP regulations.
🔹 Flexible Public Asset Use: Public units are empowered to utilize their assets like laboratories, equipment, and even land as capital contribution or for business cooperation.
🔹 Direct Financial Support: Specific projects may also receive direct financial backing from the state budget.

These incentives signal Vietnam's strong commitment to leveraging private resources and expertise to fuel economic growth and sustainable development.

Navigating these new frameworks requires specialized knowledge. As your one-stop legal partner, Henrison Law is uniquely positioned to assist you in understanding and capitalizing on these opportunities. We offer comprehensive support in PPP project structuring, risk assessment, contract negotiation, regulatory compliance, and incentive utilization.

Contact us today for expert advice tailored to your investment and collaboration goals in Vietnam's dynamic STI landscape!

26/06/2025

Vietnam's Tax Administration: Major Restructuring Ahead ⚙️

Significant changes are on the horizon for Vietnam's tax administration system, with a proposed restructuring by the Ministry of Finance set to take effect from July 1, 2025. These shifts aim to boost efficiency and align with local governance models.

Here are some key points:
🔹 Reorganization of Tax Units: The existing 20 regional tax departments are proposed to be converted into 34 provincial and city-level tax departments, with district-level teams integrating under these new units.
🔹 Addressing Current Challenges: This restructuring seeks to resolve issues faced by the previous regional model, such as managing vast geographical areas, human resource complexities, and increased workload.
Implications for Businesses: While there might be an initial adjustment period, these changes could lead to improved local coordination, better accessibility of tax services, and overall enhanced efficiency in tax collection and management.

Navigating these reforms requires up-to-date knowledge and expert guidance. As your one-stop legal partner, Henrison Law is committed to helping businesses and individuals understand these structural reforms and their practical implications for tax compliance. Our services include tax compliance advisory, administrative procedure guidance, dispute resolution, and strategic tax planning.

Stay informed about these pivotal changes. Contact Henrison Law today for tailored advice on how these tax administration reforms may affect your business operations and compliance.

25/06/2025

Vietnam E-commerce Tax Overhaul: Key Updates for Online Sellers 💰

Big changes are coming for online sellers in Vietnam starting July 1, 2025! Our latest article from Henrison Law breaks down the significant updates:
🔹 Platforms Withholding Tax: E-commerce platforms will directly deduct taxes from your sales. Crucially, this is based on your full revenue, not the net amount after fees.
🔹 New Tax Rates: Specific VAT and PIT rates apply based on what you sell and your seller type (domestic/foreign individual/household).
🔹 Revenue Thresholds: You're generally exempt from VAT and PIT if your annual online revenue is VND 100 million or less (rising to VND 200 million from January 1, 2026). Tax refunds are possible if tax was withheld but you fall below this threshold.

Navigating these regulations is essential for compliance. As your one-stop legal partner, Henrison Law is ready to help you understand and manage your tax obligations effectively.
Contact us for expert advice!

24/06/2025

Vietnam's Land Policy: Navigating Digitalization & Fee Reforms 📖

Vietnam's land administration is at a crossroads, with significant changes on the horizon!

🔷 The Push for Digital "Pink Books": The Institute of Resource Economics and Environment (IREE) has proposed fully digitalizing land use rights certificates, linking them to national IDs. This aims for enhanced state management, fraud prevention, and streamlined processes for landowners. However, it also brings challenges like data conversion accuracy, cybersecurity risks, and potential administrative bottlenecks during the transition.

🔷 The Challenge of Soaring Land Use Fees: IREE has highlighted that land use fees, especially for purpose conversions under Decree 103/2024, have reportedly surged by tenfold to nearly 20 times in some areas. This is deterring land conversions, negatively impacting the real estate market, and, paradoxically, reducing revenue collection.

Navigating this evolving landscape requires deep insight and strategic planning. As your one-stop legal partner, Henrison Law is here to provide comprehensive support, including legal consultation on land use rights, real estate transaction support, dispute resolution, and regulatory compliance.

Contact us today for expert advice on how these changes might impact your business or land holdings!