LEGAL UPDATE
Some new notable regulations on the last week of September 2020 (28th– 2nd)
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Decree No. 111/2020/ND-CP on Vietnam’s special concessional export tax taxes, special preferential import tax schedule for the performance of free trade agreement between Vietnam and the European Union for the period 2020 – 2022 Effective date: September 18 th, 2020 |
| “This Decree promulgates Vietnam’s Preferential Export Tariffs and Special Preferential Import Tariffs for the implementation of the 2020 Free Trade Agreement between the Socialist Republic of Vietnam and the European Union – 2022 and conditions for enjoying preferential export tax rates and special preferential import duties under this Agreement:
– Appendix I: Vietnam’s preferential export tariff for EVFTA implementation: including product code, description of goods, and preferential export tax rates by stages. – Appendix II: Vietnam’s special preferential import tariff schedule for the implementation of the EVFTA Agreement: including product code, description of goods, and special preferential import tax rates according to stages. – The provisions of this Decree only apply to goods exported from Vietnam to the United Kingdom and Northern Ireland and goods imported into Vietnam from the United Kingdom and Northern Ireland for the period from August 1st, 2020 until December 31st, 2020.” |
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Guideline of No. 29/HD-VKSTC of the Supreme People’s Procuracy of Vietnam on some contents in the supervision on settlement of commercial and business disputes Effective date: September 25th, 2020 |
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“Accordingly, regarding the statute of limitations for lawsuit, for commercial business disputes for which the statute of limitations is provided for by legal documents (to be done at the request of the involved parties), the statute of limitations will apply. Event identified in that document. It should be noted that some specific cases of statute of limitations apply such as: – The statute of limitations for initiating a lawsuit on an insurance contract is three years from the time the dispute arises; – For a request to cancel a resolution or a part of a resolution of the General Meeting of Shareholders of a joint stock company, the Procurator should note the statute of limitations for a lawsuit in accordance with Article 147 of the Law on Enterprises 2014; – Besides, the guidance also mentions some other contents such as: resettlement the case after the decision of cassation and reopening; on fines in commercial contracts; on determining the eligibility to participate in the proceedings for cases related to enterprises etc”. |
