Notice of Receipt Application for Exemption from Anti-dumping and Anti-subsidy Measures in Mar 2022

On November 29^th, 2019, the Ministry of Industry and Trade provided guidance on a number of extent on trade remedy measures under Circular No. 37/2019/TT-BCT for which Trade Remedies Authority requires enterprises that meet the conditions to be exempted to submit a dossier of application for exemption from anti-dumping and anti-subsidy measures for the specific cases.

 

Anti-dumping law firm in Vietnam

Regarding the dossiers of application for exemption from anti-dumping and anti-subsidy measures, the Trade Remedies Authority requires enterprises to provide all documents specified in Article 14 and Appendix 03 of the Circular No. 37/2019/TT-BCT.

In addition, for enterprises that have been granted an exemption for 2022 and are about to use up the granted exemption volume, enterprises can submit an additional application for exemption according to the provisions of Clause 4, Article 16 of Circular 37/ 2019/TT-BCT at any time in 2022.

The relevant parties must submit the application for exemption via online public service portal before 17:00 April 11^th, 2022 (Hanoi time).

If Client needs any more information or request for legal advice or potential dispute regarding trade remedies measures including, anti-dumping, countervailing duty and safeguard measures or international trade dispute matters, our competition, anti-dumping, and countervailing duty lawyers in Vietnam of International trade and tax practice at ANT Lawyers, a law firm in Vietnam always follow up anti-dumping cases and its development to update clients on regular basis.

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Extend Deadline for Final Review for the Application of Anti-dumping Measures on Galvanized Steel Products from the Korea and China

The Ministry of Industry and Trade extend deadline for final review for the application of anti-dumping measures on some products galvanized steel products originating from the Republic of Korea and the People’s Republic of China (case No. ER01.AD02).

 

International trade dispute law firm in Vietnam

On June 04^th, 2021, the Ministry of Industry and Trade issued the Decision No.1524/QD-BCT on the final review of the application of anti-dumping measures to a number of galvanized steel products originating from the People’s Republic of China and the Republic of Korea (Case: ER01.AD02).

According to the regulation in Article 82.2 Law on Foreign trade management, the time limit for the final review is 09 months from the day on which the decision on review is issued (on March 04^th, 2022), with a possible extension up to 03 months if necessary.

On February 22^nd, 2022, the Ministry of Industry and Trade issued the Decision No.225/QD-BCT on extending the deadline for period-end review of the application of anti-dumping measures to a number of galvanized steel products originating from the Republic of Korea and the People’s Republic of China for another 03 months. Therefore, the deadline for the reviewing on June 04^th, 2022.

If Client needs any more information or request for legal advice or potential dispute regarding trade remedies measures including, anti-dumping, countervailing duty and safeguard measures or international trade dispute matters, our competition, anti-dumping, and countervailing duty lawyers in Vietnam of International trade and tax practice at ANT Lawyers, a law firm in Vietnam always follow up anti-dumping cases and its development to update clients on regular basis.

 

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What is Value-added Tax Reduction Policy in 2022

In order to stimulate growth and recover the economy after the impact of the Covid-19 pandemic, the Government has issued a policy to reduce value added tax. The reduction of value-added tax is an effective solution and tool to stimulate consumption and is expected to create a driving force for rapid development to help businesses restore business and production.

 

International Trade and Tax in Vietnam

The value-added tax reduction policy has been promulgated by Decree 15/2022/ND-CP stipulating the tax exemption and reduction policy according to the National Assembly’s Resolution No. 43/2022/QH15 on fiscal and monetary policies currency to support the program of socio-economic recovery and development. Accordingly, value added tax will be reduced from 10% to 8%. This reduction will create conditions for consumers to increase spending, through which businesses will sell more products.

The value-added tax reduction will be applied to groups of goods and services currently subject to the 10% tax rate, except for the following groups of goods and services: (i) Telecommunications, financial and banking activities commodities, securities, insurance, real estate trading, metals and prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products; (ii) Products, goods and services subject to excise tax; (iii) Information technology under the law on information technology. However, if the goods and services are not subject to value-added tax or subject to value-added tax of 5% according to the provisions of the Law on Value-Added Tax, the provisions of the Law on Value-Added Tax shall be applied and not entitled to value added tax reduction.

It is important to note the value-added tax calculation method to apply. Accordingly, if the enterprise calculates value-added tax by the deduction method, the value-added tax rate of 8% shall apply; and in case the enterprise calculates value-added tax according to the percentage method on sales, collected, it will be reduced by 20% of the percentage rate for calculating value-added tax when issuing invoices for goods and services eligible for value-added tax reduction as prescribed.

The value-added tax reduction will be implemented quickly and businesses and consumers will immediately benefit. This tax reduction is expected to help reduce the cost of products and services, thereby stimulating consumer demand. Besides, it will help increase production output of enterprises and create more jobs for workers. Therefore, the reduction of value added tax is considered necessary solutions to promote the economy to recover soon after a long time affected by the pandemic.

The value-added tax reduction policy will be effective from February 1^st, 2022 to the end of December 31^st, 2022. Previously, value-added tax was only reduced for a few specific products, but with this policy, the object of tax reduction has been expanded in most fields of business and production. Therefore, the impact of this policy on the economy in the future is very large. However, in order for the value-added tax reduction to reach consumers, tax authorities need stricter inspection and control to meet the set goals. When in doubt, it is important to consult with tax lawyers in Vietnam for solutions and advice.

ANT Lawyers is a Law firm in Vietnam with international standards, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network covering more than 150 juridictions. The firm provides a range of legal services as following to multinational and domestic clients.

 

 

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Solutions to Identify Counterfeit Goods and IP Violations

Solutions to Identify Counterfeit Goods and IP Violations from the Experience of Korea

Currently, counterfeit products and product infringing intellectual property rights happening in Vietnam are very popular and diverse in types. This situation not only affects domestic production and trade but also has a negative impact on close business partners of Vietnam, including Korea. In many cases, the infringed parties have been seeking help from IP lawyers in Vietnam for advice.

 

IP Enforcement Law Firm in Vietnam

With cultural compatibility, Korean products such as fashion, home appliances, cosmetics, and functional foods are very popular and widely consumed in Vietnam. Therefore, with the quick grasp of this trend, the products of Korean enterprises have become the subject of counterfeiting. Besides, with the development of e-commerce channels, these counterfeit products quickly reach consumers, affecting the interests of consumers in Vietnam and Korean enterprises.

Moreover, with technology, forgery is increasingly done in a very sophisticated way from the packaging, share, and the color of the counterfeit products. Therefore, without a method of comparison and inspection, it is difficult for consumers to detect the product as a fake. This causes great damage to Korean enterprises not only the market share, but also the value of reputation and intellectual property rights being violated.

Besides, the Covid-19 pandemic makes people in Vietnam more inclined to buy goods online. This is an opportunity for individuals and organizations that counterfeit products to easily reach out to consumers without being detected and punished.

In addition, although Vietnam has a mechanism to enforce intellectual property rights, these regulations have not been thoroughly applied. Therefore, many individuals and organizations making counterfeit goods and infringing intellectual property still continue to violate without being caught. Meanwhile, consumers still have to pay to use bad quality products.

With the support of Korean businesses, Vietnam authorities will continue to improve their capability in identifying counterfeit goods and goods infringing on intellectual property. Therefore, an exchange between Korean businesses and the General Department of Market Management of Vietnam is necessary in providing methods to detect counterfeit goods and intellectual property violations for Vietnam agencies to exchange support, raise awareness of intellectual property rights protection, and provide information on intellectual property rights for Korean businesses in Vietnam. It is expected that Vietnam intellectual property enforcement agencies improve their efficiency in identifying, preventing, combating and handling counterfeit and infringing goods in Vietnam to protect consumers and company in creating an encouraging investment environment in Vietnam, for Korean investors to enter Vietnam for setting up company, factory and do business in Vietnam.

You could learn more about ANT Lawyers IP Practice or contact our IP lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529

 

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Enforcement of Foreign Arbitral Awards in Vietnam

Procedures for Recognition and Enforcement of Foreign Arbitral Awards in Vietnam

In the era of globalization, cooperation between countries have been established in many aspects and fields. Especially in the judicial field, the recognition and enforcement of foreign arbitral awards are important procedure in order to facilitate law enforcement between countries and protect the legitimate interests of the litigants.

 

Arbitral Award Enforcement Law Firm in Vietnam

The recognition and enforcement of foreign arbitral awards in Vietnam is a specific procedure. Accordingly, the court will be the authority to conduct the review to recognize the validity of foreign arbitral awards to be enforced within the territory of Vietnam. When receiving a request for recognition of a foreign arbitral award, the court will consider and accept the settlement according to the prescribed principles. Specifically, Vietnamese courts only recognize and enforce foreign judgments in the following cases: (i) on the basis of international treaties; (ii) on the principle of reciprocity. Therefore, it can be seen that not all requirements are recognized in Vietnam.

To process the request for recognition and enforcement, depending on the case, the requesting individual or organization must file a request at the Ministry of Justice or directly at the court. Furthermore, in order to ensure that the petition is valid, the petition must satisfy the conditions of form, extent and status of the subject entitled to file according to the regulations that the applicant must pay attention to. In addition, the time limit for filing a request for recognition and enforcement of a foreign arbitral award is 03 years from the date on which the foreign arbitral award takes legal effect. However, this time limit can also be extended if it can be proved that the cause of the delay in filing the application is under force majeure circumstances.

After receiving the application and considering accepting the settlement, in case the dossier is sent to the Ministry of Justice, the Ministry of Justice shall consider the application and enclosed documents and request the applicant to pay the fee as prescribed at the Office of the Ministry of Justice, then transfer the file to the authoritative court. Within 05 working days from the date of receipt of the dossier, the authoritative court shall consider and accept it as prescribed.

Accordingly, after considering, the court will hold a meeting and issue a decision to recognize or not to recognize the foreign arbitral award and notify relevant parties. Relevant individuals and organizations have the right to appeal or protest against that decision within 07 to 15 days from the date the court issues the decision.

Where a recognized award is to be enforced in Vietnam, the parties concerned are obliged to enforce that award. In case the party does not voluntarily execute the judgment, the judgment enforcement agency will carry out similar enforcement according to the provisions of the law on judgment enforcement in Vietnam.

At present, foreign arbitral awards might encounter challenges in recognition and enforcement in Vietnam due to complexed procedures. Therefore, it is important for individuals and organizations to learn and strictly follow the procedures as prescribed by law so that the process of recognition and enforcement in Vietnam can be carried out smoothly.

You could learn more about enforcement of foreign arbitral awards in Vietnam or contact our Arbitration lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529.

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Extension of Response for Cane Sugar Anti-Dumping Case

On September 21^st, 2021, the Ministry of Industry and Trade issued Decision No. 2171/QD-BCT on investigating the application of measures to prevent evasion of anti-dumping measures to a number of cane sugar products originating from Cambodia, Indonesia, Laos, Malaysia and Myanmar.

 

Extension of Response for Foreign Manufacturers and Exporters and Domestic Manufacturers and Importers for Cane Sugar Anti-Dumping Case (Case No. AC02.AD13-AS01)

On October 25^th, 2021, Department of Trade Remedies (Investigating Agency) announced on the issuance of the Investigation Questionnaire for Foreign Manufacturers and Exporters and Domestic Manufacturers and Importers (Case No. AC02.AD13-AS01).

During the process of receiving the Investigation Questionnaire, the Investigating Authority received requests to extend the time for answering the Investigation Questionnaire from the relevant parties. Therefore, on November 23^rd, 2021, the Investigating Agency issued the announcement on agree to the extension. The Investigating Authority requires all relevant parties to cooperate and participate sufficiently during the investigation. The extent of the response will be the basis for the Investigating Authority to review and draw a conclusion of the investigation of this case. In the event that the Investigating Authority does not receive timely responses from relevant parties or the information provided is incorrect or incomplete, the Investigating Authority will use information and documents provided by related parties, the information and documents collected by the Investigating Authority or available information and documents for giving the result according to the regulation of Law on Foreign trade management.

The relevant parties must respond directly to Investigation Authority before 15:00 on December 16^th, 2021 (Hanoi time).

The information, data provided in the Questionnaire of the Investigation Authority and the right to access the information of the case during the investigating term will be implemented in the regulations of the laws.

If Client needs any more information or request for legal advice or potential dispute regarding trade remedies measures including, anti-dumping, countervailing duty and safeguard measures or international trade dispute matters, our competition, anti-dumping, and countervailing duty lawyers in Vietnam of International trade and tax practice at ANT Lawyers, a law firm in Vietnam always follow up anti-dumping cases and its development to update clients on regular basis.

 

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Regulations on Debt Trading Contracts in Vietnam

What Are Regulations on Debt Trading Contracts in Vietnam

Along with the development of socio-economic activities, right to collect debt has become an asset right, hence its transferability is also recognized. Vietnam law recognizes debt as a commodity that can be traded through a debt trading contract. However, in order for the debt trading contract to be legally valid and ensure the rights and obligations are enforced, the parties need to pay attention to the provisions on the debt trading contract.

 

Debt trading contract in Vietnam

Firstly, in terms of the right to enter into a debt trading contract, according to the provisions of the Civil Code on the sale and purchase of property rights, the property right is the right to claim debt in Vietnam. Accordingly, the right to recover debt becomes the subject of a contract that the parties can transfer as if it were a special type of property. In addition, the debt trading contract aims to transfer ownership of the right of debt recovery and at the same time transfer the debt seller’s obligations to the debt purchaser. This is a transaction that does not affect the interests of the debtor totally. Therefore, the transfer of the right to demand does not require the consent of the obligor, whereby the parties can enter into a debt trading contract without the consent of the debtor.

Secondly, in terms of the form of the debt trading contract, based on the provisions of law prescribing debt trading contract by credit institutions and foreign bank branches, debt trading contract is a written agreement on the transfer of the right to collect debt for a debt arising from a lending operation, payment on behalf of the guarantee, whereby the debt seller transfers ownership of the debt to the debt purchaser and receives payment from the debt purchaser. Therefore, the debt trading contract must be made as a written document.

Furthermore, the debt trading contract must be signed by the legal representative or the authorized representative of the debt purchase and sale parties. Therefore, according to this provision, the debt trading contract does not require the parties to be notarized or authenticated. If necessary, the parties can agree on the notarization or authentication of the debt trading contract. In addition, the parties can make an agreement that the contract can be made in a foreign language and the parties need to consent on which language of the contract will be used in case of a dispute arisen. In addition, in case the debt purchaser and debt seller are organizations with legal status, in addition to the legal representative to sign, the contract needs to be stamped. These are strict regulations on the established form to ensure the legality of the contract’s form.

Thirdly, when drafting a debt trading contract, it must contains the following principal contents: (i) Time for signing the debt trading contract; (ii) Names and addresses of the parties to the debt trading contract; (iii) Name and title of the representative of the parties to the debt trading contract; (iv) Name and address of the debtor and related parties (if any) to the purchased or sold debt; (v) Details of debt purchased and sold: Loan amount, loan period, purpose, book value of the debt up to the time of debt purchase and sale; (vi) Security measures for the debtor’s payment obligation for the purchased or sold debt (if any); (vii) Debt selling price, payment method, payment term; (viii) Time, method and procedures for transferring debt documents and records, including dossiers and documents on debt security (if any); The time the debt purchaser becomes the subrogator, the debt seller has obligations; (ix) Rights and obligations of debt sellers and debt buyers; (x) Liability of the parties for breach of contract; (xi) Settlement of arising disputes. These are the basic and mandatory contents of a debt trading contract. In addition, the parties can make agree on other contents in the debt trading contract that are not contrary to the provisions of the laws.

In addition, during the implementation of the debt trading contract, the law allows the parties to agree to amend, supplement or cancel the content of the debt trading contract. However, the decision to amend, supplement or cancel must be based on ensuring compliance with the provisions of law.

Therefore, the establishment of a debt trading contract in Vietnam is basically the same as other property rights transfer transactions. However, debt is a special object of property rights, therefore the parties need to strictly comply with the provisions of law on the content and form of the contract to ensure the legality of the contract as well as the rights and obligations of the parties. It is suggested to engage lawyers with specialization in debt recovery and dispute resolution to assist drafting or reviewing debt trading contract for its effective usage.

ANT Lawyers – A Law Firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

 

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