1. Law on Data No. 60/2024/QH15 dated 30 November 2024 (“2024 LOD”)
The 2024 LOD, enacted by the National Assembly and effective from 01 July 2025, established a modern legal framework that unlocks the enormous potential of data and protects the legitimate rights and interests of citizens in the sustainable digitization process with certain notable key points.
Accordingly, the 2024 LOD applies to both domestic and foreign agencies, organizations, and individuals directly participating in or related to digital data activities in Vietnam. [1]
The Law also defines data ownership rights as “property rights”, [2] and prohibits acts that abuse data processing or data governance to infringe national, ethnic, social security, or the rights and interests of organizations and individuals; it also prohibits appropriation, sabotage, forgery, distortion, unlawful provision of data information, and failure to comply with data provision obligations. [3]
Additionally, the regulation on matters related to the National Data Center and the National Integrated Database, [4] along with allowing open data access from the National Database, represents a notable innovation that clearly expresses the socio-economic development strategy. [5] Accordingly, the National Integrated Database will act as a linking hub for other databases to ensure coherence.
Data products and services fall into four core groups: (i) Data intermediation; (ii) Data analysis and consolidation; (iii) Electronic authentication; and (iv) Data exchange platforms; [6] which are established to support users effectively while meeting commercial objectives, aiming to create a safer, more transparent data market within a future economy – society driven by data.
2. Decree No. 70/2025/ND-CP (“Decree 70”) dated 20 March 2025, amending and supplementing certain provisions of Decree 123/2020/ND-CP dated 19 October 2020 of the Government regulating invoices and receipts
With the aim of promoting the digitization process in state budget revenue collection, Decree 70 was enacted by the Government and effective from 01 June 2025, with the following key points:
Expanding the scope of application: Adding foreign suppliers without a permanent establishment in Vietnam that engage in e-commerce, digital platforms, voluntarily use electronic invoices (“e-invoices”). [7]
Regarding invoice types: Adding e-commerce invoices applicable to organizations and individuals exporting goods and services that meet the conditions for transmitting electronic data to the tax authorities. [8]
Regarding the timing of invoice issuance: Abolishing the mechanism of issuing summary invoices at the end of the day/month for specific services such as banking, securities, insurance, electricity, e-wallets, etc.; instead, invoices are to be issued at the time of service completion, or at the payment term or interest accrual date. [9] Additionally, Decree 70 provides detailed regulations on the timing of invoice issuance for certain specific sectors such as passenger transport by taxi using fare calculation software, export of goods (including export processing), insurance business, etc. [10]
Regarding invoice content: Adding information such as: (i) personal identification number or unit code related to the state budget of the buyer; (ii) goods/services name: itinerary information (for transport businesses), name, address, tax code or identification number of the sender (for digital transport and e-commerce businesses). [11]
Regarding invoice issuance and tax declaration: Adding two cases where e-invoices with tax authority codes are issued on a per-transaction basis: (i) enterprises undergoing bankruptcy procedures but still operating under court supervision; and (ii) enterprises, organizations, households, or individuals in the process of explaining or supplementing documents who have suspended electronic invoice usage. [12] Notably, Decree 70 clearly stipulates that taxes on per-transaction invoices must be declared and paid upon issuance.
Of particular note, Decree 70 includes new subjects required to use e-invoices generated from cash registers: households/individuals with annual revenue of one billion VND or more; enterprises selling goods or providing services, including direct supply to end-users (shopping centers, supermarkets, dining, etc.). [13]
Additionally, Decree 70 abolishes the mechanism for canceling erroneous e-invoices. Accordingly, these erroneous e-invoices must be adjusted/replaced based on written agreement between the seller and buyer. [14]
3. Decree No. 69/2025/ND-CP (“Decree 69”) dated 18 March 2025 amending and supplementing certain provisions of Decree No. 01/2014/ND-CP dated 03 January 2014 of the Government regulating the purchase of shares of Vietnamese credit institutions by foreign investors
Decree 69, enacted and effective from 19 May 2025, provides new and stricter regulations on the restructuring or mandatory transfers of weak credit institutions involving foreign investors, with the specifics as follows:
Firstly, adjustments are made to the criteria for identifying foreign individuals and organizations. Accordingly, a “foreign individual” is determined based on “holding foreign nationality”; while a “foreign organization” is determined by 02 (two) criteria: (i) established under foreign law; and (ii) directly conducting investment and business activities in Vietnam. [15]
Secondly, Decree 69 provisioned, for the first time ever, the specific criteria to identify weak and troubled credit institutions, in order to enhance transparency and objectivity regarding these entities. [16]
Thirdly, limitations are placed on the types of treasury shares that foreign investors can purchase: they are only entitled to buy back treasury shares that the credit institution had purchased before 01 January 2021. [17] At the same time, Decree 69 sets the shareholding caps for foreign investors in Vietnamese credit institutions and obligations for handling exceedances of the cap. [18]
4. Decree No. 82/2025/ND-CP dated 02 April 2025 on the payment deadline extension of value-added tax (“VAT”), corporate income tax (“CIT”), personal income tax (“PIT”) and land rental fee for the year 2025 (“Decree 82”)
Decree 82, enacted and effective from 02 April 2025, extends the payment deadlines for VAT, CIT, PIT and land rental fees for entities operating in priority supported sectors such as forestry, aquaculture, construction, education, real estate, etc., with specific extension periods depending on the type of tax or fee applied. [19] Accordingly, citizens and businesses will need to submit extension requests to their direct tax authority no later than 30 May 2025 to benefit from the policy. [20]
Compared to Decree No. 64/2024/ND-CP applied for 2024, Decree 82 demonstrates stronger support, not only inheriting the tax and land rental fee payment extension mechanism but also increasing the extension periods, creating more favorable conditions for maintaining and recovering production and business activities.
5. Decree No. 87/2025/ND-CP dated 11 April 2025 regulating the reduction of 2024 land rental fees (“Decree 87”)
Decree 87, enacted and effective from 11 April 2025, introduces a reduction of 30% (thirty percent) of the 2024 land rental fees payable by land users. [21]
The subjects of application are organizations, households, and individuals to whom the State has directly leased land according to decisions, contracts, or land use right certificates (under the form of annual land rental payments). Notably, even in cases where land users complete legal land procedures only at the time of dossier submission, they are still entitled to this reduction policy. [22] Accordingly, land users must submit application dossiers to the competent authority before 01 August 2025 to benefit from the policy. [23]
6. Circular No. 19/2025/TT-BTC dated 05 May 2025 regulating the registration of public companies, cancellation of public company status, and reporting on audited contributed charter capital (“Circular 19”)
Circular 19, effective from 05 May 2025, provides guidance on matters related to public companies, with several notable points as follows.
Firstly, Circular 19 elaborates on the specifics for regulations on canceling public company status due to no longer meeting conditions, specifically: companies listed or registered for trading before 01 January 2021 but still not meeting public company conditions under the Securities Law as of 01 January 2026 will have their status revoked. [24]
Secondly, the Circular requires public companies to proceed with extraordinary information disclosure about no longer meeting one of the conditions to be considered a public company. [25]
In addition, Circular 19 requires enterprises to submit charter capital reports along with public company registration dossiers, [26] with the reporting period being at least 10 years up to the time of initial public offering registration or public company registration; if the enterprise has been operating for less than 10 years, the reporting period will be from the establishment date. [27] This regulation ensures the company has sufficiently strong financial capacity for listing and capital mobilization on the stock market. [28]
[1] Article 2 of the 2024 LOD
[2] Paragraph 14, 15 Article 3 of the 2024 LOD
[3] Article 10 of the 2024 LOD
[4] Article 30 – 34 of the 2024 LOD
[5] Paragraph 3 Article 35 of the 2024 LOD
[6] Article 39 – 42 of the 2024 LOD
[7] Paragraph 1, Point a Paragraph 5 Article 1 of Decree 70
[8] Point c Paragraph 5 Article 1 of Decree 70
[9] Point b Paragraph 6 Article 1 of Decree 70
[10] Paragraph 6 Article 1 of Decree 70
[11] Paragraph 7 Article 1 of Decree 70
[12] Point a Paragraph 10 Article 1 of Decree 70
[13] Paragraph 8 Article 1 of Decree 70
[14] Paragraph 13 Article 1 of Decree 70
[15] Paragraph 2 Article 1 of Decree 69
[16] Paragraph 3 Article 1 of Decree 69
[17] Paragraph 4 Article 1 of Decree 69
[18] Paragraph 5, 6, 7 and 11 Article 1 of Decree 69
[19] Article 3, Article 4 of Decree 82
[20] Paragraph 2 Article 5 of Decree 82
[21] Article 3 of Decree 87
[22] Paragraph 1 Article 2 of Decree 87
[23] Paragraph 1 Article 5 of Decree 87
[24] Article 13 of Circular 19
[25] Point a Paragraph 1 Article 8 of Circular 19
[26] Paragraph 1 Article 6 of Circular 19
[27] Paragraph 1 Article 4 of Circular 19
[28] Point a Paragraph 1 Article 32 of the 2019 Law on Securities (amended and supplemented by Point a Paragraph 11 Article 1 of the Law No. 56/2024/QH15)
