What is the latest Law on Enterprise 2025? Shall there be a Law on Amendments to Law on Enterprise of Vietnam?

What is the latest Law on Enterprise 2025? Shall there be a Law on Amendments to Law on Enterprise of Vietnam?

On June 17, 2020, the National Assembly enacted the Law on Enterprise 2020, which took effect on January 1, 2021.

The Law on Enterprise 2020 provides regulations on the establishment, organization of management, re-organization, dissolution, and associated activities of enterprises, including limited liability companies, joint-stock companies, partnerships, and private enterprises; it also regulates company groups.

As of this moment, there has been no document replacing this Law, hence the latest Law on Enterprise being applied in 2025 is the Law on Enterprise 2020.

Recently, in Section 2, the appendix regarding specific tasks assigned to ministries, agencies, and localities for February 2025 and onward, issued together with Resolution 27/NQ-CP in 2025, the Government of Vietnam assigned the Ministry of Planning and Investment to lead and cooperate with agencies and localities to urgently submit the dossier proposing amendments to the Law on Enterprise, reporting to the Prime Minister by February 25, 2025.

"2. The Ministry of Planning and Investment shall lead and coordinate with agencies and localities:

a) Quickly summarize unresolved projects that need concentrated resolution, report to Steering Committee 1568 for review and direction, especially renewable energy, BOT, BT, transportation, real estate projects... Initially, create a special mechanism focused on resolving projects in Ho Chi Minh City, Hanoi, Da Nang, and some other major provinces and cities to liberate resources within 2025.

b) Study and propose to the competent authorities the expansion of scope, subjects, and areas for applying several pilot and special mechanisms, policies that have been allowed by the National Assembly and have been effective at localities; develop special policies to develop economic zones with great potential such as Van Don, Van Phong, border economic zones, and regions according to the Resolutions of the Politburo.

c) Advise and propose the allocation of resources and special mechanisms, policies to promptly implement the Program “Developing Human Resources for the Semiconductor Industry until 2030, with Orientation to 2050” approved in Decision No. 1017/QD-TTg on September 21, 2024, by the Prime Minister.

d) Coordinate closely with the National Assembly's agencies and related agencies in building and completing the legal framework for regional and international financial centers in Vietnam, ensuring quality and progress as required in the Politburo's conclusions and Resolution No. 259/NQ-CP dated December 31, 2024, of the Government of Vietnam.

dd) Urgently submit the dossier proposing amendments to the Law on Enterprise, reporting to the Prime Minister by February 25, 2025.

e) Successfully organize the General Survey on Rural, Agricultural, ensuring quality and progress according to Decision No. 484/QD-TTg dated June 7, 2024, of the Prime Minister.

g) Lead and coordinate with the Ministry of Finance, the Office of the Government of Vietnam, and related agencies to propose organizing a nationwide online conference of the Standing Government of Vietnam with ministries, central agencies, and localities in February 2025 about accelerating the disbursement of public investment capital in 2025, reporting to the Prime Minister by February 10, 2025."

Thus, the units will soon report to the Prime Minister regarding the amendment of the Law on Enterprise 2020.

What is the latest Law on Enterprise 2025? Shall there be a Law on Amendments to Law on Enterprise of Vietnam? (Image from the Internet)

What are guiding documents on the Law on Enterprise of Vietnam?

Here is a compilation of some guiding documents related to the Law on Enterprise 2020:

1. Decree 153/2020/ND-CP regulating the private offering and trading of corporate bonds in the domestic market and the international market.

2. Decree 01/2021/ND-CP regarding enterprise registration.

3. Decree 47/2021/ND-CP providing guidance on the Law on Enterprise.

4. Decree 122/2021/ND-CP regulating the imposition of administrative penalties in the field of planning and investment.

5. Decree 23/2022/ND-CP on establishing, rearranging, converting ownership, transferring the right to represent state ownership at enterprises where the State holds 100% of the charter capital.

6. Decree 65/2022/ND-CP amending Decree 153/2020/ND-CP regulating the private offering and trading of corporate bonds in the domestic market and the international market.

7. Decree 08/2023/ND-CP amending and suspending the enforcement of certain provisions in the Decrees regulating the private offering and trading of corporate bonds in the domestic market and the international market.

8. Decree 16/2023/ND-CP on organizing the management and activities of enterprises directly serving defense, security, and combining economic with defense, security; amending regulations at point g, clause 1, Article 23 of Decree 47/2021/ND-CP guiding the Law on Enterprise.

9. Decree 89/2024/ND-CP on the conversion of state-owned enterprises established and operating under the State Law on Enterprise into one-member limited liability companies organized and operating under the provisions of the Law on Enterprise.

What types of income are subject to corporate income tax in Vietnam in 2025?

Based on Article 3 of the Law on Corporate Income Tax 2008 (amended and supplemented by clause 2, Article 1 of the Law Amending the Law on Corporate Income Tax 2013 and amended by clause 1, Article 1 of the Law Amending Various Tax Laws 2014) regulations concerning taxable corporate income include:

(1) Income from production and business activities of goods and services;

(2) Other income including:

+ Income from capital transfer and transfer of the right to contribute capital;

+ Income from real estate transfer, investment project transfer, transfer of rights to participate in investment projects, transfer of exploration, exploitation, and processing of minerals;

+ Income from asset usage rights, property ownership rights, including income from intellectual property rights as prescribed by law;

+ Income from the transfer, lease, liquidation of assets, including valuable papers;

+ Income from interest on deposits, loans, foreign currency sales;

+ Amounts recovered from bad debts that have been written off;

+ Amounts from debts payable that are untraceable to creditors;

+ Income from business activities of previous years that were omitted and;

+ Other incomes.

Vietnamese businesses investing abroad transferring post-corporate income tax paid foreign income of businesses back to Vietnam shall:

++ For countries with which Vietnam has signed an agreement to avoid double taxation, implement according to the agreement's provisions;

++ For countries with which Vietnam has not signed an agreement to avoid double taxation, if corporate income tax rates in the transferring countries are lower, the difference with Vietnam's corporate income tax rate must be paid according to the Law on Corporate Income Tax of Vietnam.