Phuoc & Partners Vietnam International Law Firm

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Phuoc & Partners Attorneys At Law

Legal Update Newsletter June 2012

Our Part I of this Legal Newsletter is a legal article recently published in the Thoi Bao Kinh Te Sai Gon named “Setting process in M&A transaction written by our lawyer Mr. Tran Thanh Tung & Mr. Nguyen Danh Cong. By this article, we provide a number of legal comments regarding the process in executing M&A transactions.

In Part II, we would like to provide you with some remarkable regulations as follows:

  1. Employers are not allowed to keep the original personal identity documents, diplomas, certificates of employees nor to require the employees to ensure the execution of labour contracts by money or other properties.
  2. Foreign organizations and individuals shall not be permitted to set up branches in Viet Nam for conducting advertising services.
  3. To increase the level of payment for trade union fund by foreign-invested enterprises and operation offices of foreign party in the business co-operation contracts.

Our Question and Answer section in Part III will provide you with legal information regarding the basis to determine the business trip allowances as reasonable expenses when calculating the corporate income tax and the expenses paid to employees for their participation in professional associations into their personal income tax.

Apart from the above, as usual, the selected list of news regulations is available for your further reference.

We hope that this Newsletter is of use to you. Should you have any questions, please feel free to contact us.

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