Asia Legal

"Enterprises are free to do business in any business areas that are not prohibited by law" is one of the rights of the enterprises recognized in the applicable Law on Enterprise. What are the prohibited business areas which the foreign investors should be aware of when they make plan to invest in Vietnam?  1. Prohibited bussiness areas  According to Article 6 of the applicable Law on Investment, there are 8 prohibited business areas, including:  Trade in the narcotic substances The prohibited narcotic substances are specified in Appendix I of the Law on Investment 2020, including 47 types, which can be followed by typical narcotics substances: Cetorphine, Acetyl-alpha- methylfenany, Alphacetylmethadol, Alpha-methylfentanyl, Beta-hydroxyfentanyl, Brolamphetamine, Cannabis and cannabis preparations, Heroine, opium and opium preparations…  ...

The Ministry of Finance has just published a draft circular guiding the implementation of the Law on Tax Administration and Decree No. 123/2020/ND-CP concerning invoices and records. One of the important contents in this draft circular is that cash registers of restaurants, cafes, hotels,… will digitally connect with the tax authorities from July 1, 2022. Specifically, organizations and individuals (excluding contracted households) perform activities in the fields of: commercial centers, supermarkets, restaurants, hotels, retail of modern medicines, entertainment services, retail agent of consumer goods, providing goods and services directly to the consumers... will use authenticated e-invoice generated from the cash register digitally connected with the tax authorities. Authenticated e-invoice means an e-invoice that is granted an authentication code by the tax authorities before it is sent to the buyer by the goods seller or service provider. The authentication code on an e-invoice i...