Frasers Newsletter Edition 3, 2012
10 May 2012
In this edition, we report on a pilot scheme to refund VAT for foreigners exiting Vietnam, how it will be applied and the procedures to follow.
We also review the State Bank of Vietnam’s policies to regulate credit growth in 2012, the extent of the growth and restrictions over the areas of lending.
We report on new legislation in the form of Circular 40 on the licensing, operation and organisation of banks (including 100% foreign-owned banks and joint venture banks).
We further provide an overview of the Prime Minister’s initiative to remove some of the requirements for notarisation of contracts relating to land use rights and residential property.