Legal Update 08/2026

HIGHLIGHTS

In the field of Business and Trade

• On August 21, 2026, the Ministry of Finance issued Circular No. 121/2026/TT-BTC amending and supplementing a number of articles of Circular No. 68/2025/TT-BTC dated July 1, 2025 of the Ministry of Finance promulgating forms used in business registration and household business registration.
• On August 25, 2026, the Government issued Resolution No. 39/2026/NQ-CP on the transitional mechanism for using labels and packaging with the old name printed on them when a business changes its name but does not change its legal entity and the subject responsible for the goods.

In the field of Investment and Construction

• On August 17, 2026, the Government issued Decree No. 323/2026/ND-CP This document details certain provisions and measures for organizing and guiding the implementation of Resolution No. 20/2026/QH16 on coordination mechanisms and specific policies to enhance the effectiveness of preventing and resolving international investment disputes.
• On August 24, 2026, the National Assembly enacted several laws, including : Law No. 24/2026/QH16 amending and supplementing a number of articles of Investment Law No. 143/2025/QH15; Law Digital urban development 18/2026/QH16.
• On August 26, 2026, the Government issued Decree No. 339/2026/ND-CP stipulating administrative penalties for violations in the fields of construction, management of technical infrastructure works, housing management and development, and real estate business .

In the field of Bidding - Competition - Planning

• On August 27, 2026, the Ministry of Finance issued Circular No. 129/2026/TT-BTC amending and supplementing a number of articles of Circular No. 98/2025/TT-BTC dated October 27, 2025 of the Minister of Finance stipulating the sample bidding documents for selecting investors to implement investment projects under the public-private partnership method and business investment projects; providing and posting information on investment under the public-private partnership method and bidding for investor selection on the National Bidding Network System.

In the field of Land and Housing

• On August 13, 2026, the Government issued Resolution No. 229/NQ-CP on the promulgation of the Government's Plan to implement Resolution No. 21-NQ/TW dated July 28, 2026 of the 14th Central Committee of the Communist Party of Vietnam on the viewpoints and orientations for amending the Land Law and related laws, and Plan No. 07-KH/TW dated July 28, 2026 of the Politburo to implement Resolution No. 21-NQ/TW.
• On August 19, 2026, the Government issued Decree No. 326/2026/ND-CP stipulating regulations on the identification of locations.

In the field of Taxes, Fees, and Charges

• On August 14, 2026, the Ministry of Finance issued: Circular No. 117/2026/TT-BTC stipulating the exemption and reduction of certain fees and charges to implement Resolution No. 66.22/2026/NQ-CP dated July 9, 2026 of the Government on the development of digital citizens; Decision No. 2199/QD-BTC approving the list of administrative procedures in the field of tax management under the management scope of the Ministry of Finance that are received and processed, and those not received and processed at the Provincial and Commune-level Public Administrative Service Centers; and received on the National Public Service Portal.
• On August 18, 2026, the Ministry of Finance issued Circular No. 118/2026/TT-BTC guiding the subjects, scope, and application procedures of International Accounting Standards in Vietnam.
• On August 24, 2026, the National Assembly issued Resolution No. Resolution 43/2026/QH16 on reducing personal income tax and corporate income tax for individuals and businesses.
• On August 24, 2026, the Tax Department issued Decision No. 1233/QD-CT promulgating regulations on the data components of electronic invoices and documents and the method of transmission and reception with tax authorities.

In the field Import and Export

• On August 14, 2026, the Ministry of Industry and Trade issued Decision No. 2040/QD-BCT on the announcement of newly issued and amended administrative procedures in the field of import and export within the scope of the Ministry of Industry and Trade's management functions.
• On August 22, 2026, the Ministry of Finance issued: Decision No. 2206/QD-BTC on the announcement of the list of administrative procedures under the authority of the Customs Department that are received and processed at the One-Stop Service Center of the Customs Department and the list of administrative procedures under the authority of the Customs Department that are not received at the One-Stop Service Center of the Customs Department; Circular No. 124/2026/TT-BTC supplements Clause 10, Article 15 of Circular No. 33/2023/TT-BTC dated May 31, 2023, issued by the Minister of Finance, stipulating the determination of origin of exported and imported goods.
• On August 22, 2026, the Government issued Decree No. Decree 336/2026/ND-CP regulates the implementation of administrative procedures for exported, imported, and transit goods; and outgoing, incoming, and transit transport vehicles under the national single window mechanism and the ASEAN single window mechanism.
• On August 23, 2026, the National Assembly enacted Law No. 11/2026/QH16 amending and supplementing a number of articles of the Customs Law.

Draft

• Draft Decree detailing certain provisions and measures for the implementation of the Law on Export and Import Taxes
• Draft Law amending and supplementing a number of articles of the Securities Law.
• Draft Law on the Development of Small and Medium-Sized Enterprises.
• Draft Decree amending and supplementing a number of articles of Decree 320/2025/ND-CP dated December 15, 2025 of the Government detailing a number of articles and measures to organize and guide the implementation of the Corporate Income Tax Law as amended and supplemented by Decree 141/2026/ND-CP.

INVESTMENT - CONSTRUCTION

Law No. 24/2026/QH16 dated August 24, 2026, of the National Assembly amends and supplements a number of articles of the Investment Law, focusing on regulating regulations related to conditional investment and business sectors, while also adding transitional provisions and amending some related laws.

Specifically, the Law adds point m to clause 1 of Article 6, stipulating the business of N2O gas for human use via the respiratory tract (excluding medical purposes, food technology, testing, scientific research, and cases as prescribed by the Government), and also adds the Government to provide detailed regulations on this matter in clause 2a, following clause 2 of this Article. In addition, Appendix IV on the List of Conditional Investment and Business Sectors and Occupations is completely replaced by the new list issued with this Law. Regarding implementation provisions, the Law will take effect from March 1, 2027, except for the regulations on N₂O gas business, which will take effect earlier, from January 1, 2027. Ministries and ministerial-level agencies are responsible for prescribing alternative management solutions or plans for conditional investment and business sectors and professions that have been abolished but are listed in the old appendix before the Law officially comes into effect. In addition, the Law also amends and supplements several clauses of Article 88 of the Construction Law related to professional certificates and individual capacity requirements in construction activities, while abolishing Clause 6 of Article 29 of the Road Law. Regarding transitional provisions, contracts for the sale of N₂O gas for human use via respiratory administration, excluding medical, food technology, testing, scientific research, and other purposes as stipulated by the Government, will terminate on January 1, 2027. The parties involved will have a maximum of 45 days to proceed with liquidation in accordance with civil law. The government has stipulated transitional provisions for visa support services provided by authorized businesses before March 1, 2027. For business sectors and professions that have been abolished according to the new list, organizations and individuals are allowed to operate without meeting investment conditions; at the same time, they can continue to use the licenses, certificates, or confirmation documents already issued until their expiration date without having to renew them. Applications that were pending before will no longer be processed, and the files will be returned to the individuals and organizations that submitted them.

The Law on Urban Development No. 18/2026/QH16 dated August 24, 2026, includes general provisions and specific mechanisms and policies to promote the development of special urban areas, other cities, and special economic zones.

The law stipulates mechanisms and policies to promote the development of cities classified as special urban areas (referred to as Cities, except for Hanoi, which is governed by the Capital City Law), other cities, special economic zones, and special urban areas. A standardized terminology system clarifies core concepts such as : special economic zones ; large-scale , important projects ; low-level and high-level spaces ; free trade zones ; integrated logistics zones ; marine economy ; open port zones ; special urban areas ; and transport-oriented development (TOD). The City government is granted considerable autonomy in regulating the number of People's Council representatives, the organizational structure of specialized agencies and public service units, the salary and income regime for officials, civil servants, and public employees, and the total number of personnel. The City People's Council and the City People's Committee have the right to issue legal documents to regulate administrative procedures in a way that simplifies them, applies digital technology, and prescribes specific measures to implement laws and resolutions of the National Assembly. In particular, the City is allowed to pilot new mechanisms and policies not yet included in the law or different from the law (except in the fields of national defense, security , and foreign affairs) for a maximum of 5 years, with the possibility of extending this for another 5 years. In addition, professional activities supporting the resolution of administrative procedures are also being promoted through controlled socialization to save time and improve the quality of service to the people. Within the city, only one integrated city master plan is established, replacing the provincial and general plans, with equivalent legal validity. Underground, low-level, and high-level spaces are planned, zoned, and strictly managed to optimize economic development resources while ensuring national defense and security . Investment in construction, urban renovation, apartment building remodeling, and social housing development are prioritized towards modern, integrated infrastructure and on-site resettlement for residents. The Transport-Oriented Development (TOD) model is implemented by using budget funds to acquire land, renovate the urban area, increase land use around railway stations, and collect the added value from land to reinvest in the transportation system. Regarding infrastructure and the environment, the city promotes green transportation, limits private vehicles, applies congestion pricing, develops logistics, a circular economy, and strictly manages solid waste. Large and important public investment and PPP projects are granted greater decentralization of investment decision-making authority to shorten preparation time. To ensure social order and safety, the City People's Council is authorized to set higher fines for administrative violations (not exceeding twice the amount of the previous fine). (general fine amount ) and the application of measures to cut off electricity and water services to construction projects that violate planning regulations, are built without permits, or seriously violate land use, fire safety, and environmental protection regulations. The city is restructuring state-owned enterprises (including the Local Development Investment Fund and the establishment of a local railway enterprise), promoting the marine economy, developing coastal urban areas with mechanisms to attract strategic investors, and exploiting minerals for land reclamation. High-quality service and trade sectors, outlet models, along with the establishment and operation of free trade zones, integrated logistics zones, duty-free zones, and new functional zones, are subject to numerous superior preferential mechanisms regarding customs, taxes, foreign exchange, and investment procedures. The law also creates a legal framework for the development of an international financial center in Vietnam with a comprehensive financial ecosystem, along with policies for developing energy infrastructure, renewable energy, and direct electricity trading. In the fields of culture, sports, and tourism, the city proactively implements mechanisms for social mobilization, heritage preservation, and the development of the night-time economy and cultural creative industries. Education and healthcare are promoted with increased autonomy, international linkages, the development of high-quality schools, an out-of-hospital emergency medical system, and social welfare policies covering all citizens. Regarding science, technology , and digital transformation, the city prioritizes resources for the formation of science and technology urban areas, high-tech zones, and innovation centers, while simultaneously applying a "controlled trial" mechanism to new solutions and business models. In terms of finance and budget, the city's budget benefits from a reasonable revenue sharing ratio with the central government, has the right to issue municipal bonds and project bonds, manage financial funds, and determine expenditure limits and interest rate subsidies to create strong incentives for investment, development, and governance of the special urban area. Finally, the Law clearly defines the authority to decide on investment policies for large projects, provides mechanisms to resolve legal difficulties for previously delayed projects, and promotes the participation of the private sector in the management and efficient exploitation of public assets.

Government Decree No. 339/2026/ND-CP dated August 26, 2026, stipulates administrative penalties for violations in the fields of construction, management of technical infrastructure works, housing management and development, and real estate business .

Decree 339/2026/ND-CP provides detailed regulations on administrative penalties for violations in various fields, including construction, management of technical infrastructure works, housing management and development, and real estate business. This decree clearly defines the scope of application, the subjects of application, the system of penalties, remedial measures, the statute of limitations for penalties, and specific groups of violations in each specialized field. Regarding the subjects and principles of applying penalties, the Decree stipulates that it applies to individuals and organizations, both domestic and foreign, committing violations within the territory of Vietnam, as well as agencies, organizations, public service units, condominium management boards, and authorized persons to impose penalties. The fine for individuals is half the fine for organizations for the same violation. The maximum fine for organizations in the construction and real estate business sector is VND 1,000,000,000, while in the technical infrastructure management, housing management and development sector it is VND 300,000,000. The statute of limitations for administrative penalties is set at 1 year for real estate business and technical infrastructure management; and 2 years for construction, housing management and development. In the construction sector, the Decree specifies detailed penalties for violations related to urban and rural planning, architecture, and construction operational capacity. Investors, consulting contractors, and architects who violate regulations on planning, planning adjustments, architectural design competitions, or fail to meet professional capacity requirements will face corresponding fines and be required to take remedial measures such as revising the plan, re-competing in the design competition, or suspension from their leading role. Regarding project appraisal, surveying, design, and construction cost estimation, the Decree imposes heavy penalties for actions such as approving projects that do not conform to planning, constructing without a properly appraised cost estimate, failing to apply the BIM model as required, or contractors reporting inaccurate survey results. Regarding construction order, construction management, and project acceptance, the Decree establishes a strict penalty framework for investors and contractors. Actions such as commencing construction without meeting the necessary conditions, constructing without proper shielding resulting in material spillage, building contrary to the permit's content, building without a construction permit, building in violation of planning regulations, or expanding and encroaching on public space are all subject to severe penalties. Continued violations after a violation has been recorded or repeated violations will incur administrative fines of up to VND 1,000,000,000, along with additional penalties such as revocation of construction permits, confiscation of violating equipment, and forced demolition of the violating structure. Furthermore, failure to purchase mandatory insurance, violations of technical standards, and failure to properly supervise, accept, hand over, or manage warranty and maintenance records are also subject to comprehensive penalties and enforcement measures.

TAXES - FEES - CHARGES

Resolution No. 43/2026/QH16 of the National Assembly stipulates policies on reducing personal income tax and corporate income tax to support individuals and businesses during the period 2026 - 2027.

Specifically, the Resolution stipulates a 30% reduction in personal income tax payable for the tax periods of 2026 and 2027 for income from business activities of resident individuals with annual revenue not exceeding VND 10 billion. In addition, this policy also applies a 30% reduction in corporate income tax payable for the tax periods of 2026 and 2027 for businesses and organizations established under Vietnamese law with annual revenue not exceeding VND 10 billion. However, this regulation excludes businesses formed from divisions or separations after the Resolution takes effect where the total annual revenue of the businesses after the division or separation exceeds VND 10 billion. For businesses currently enjoying other tax incentives under existing regulations, the tax reduction will be calculated on the corporate income tax payable after deducting those incentives.

IMPORT AND EXPORT

Decree No. 336/2026/ND-CP regulates the implementation of administrative procedures for goods and means of transport exported, imported, and transited under the national single window mechanism and the ASEAN single window mechanism, as well as the management, operation, exchange, and sharing of data through the National Single Window Portal.

This Decree applies to agencies, organizations, and individuals involved in and related to administrative procedures concerning goods, vehicles, and persons entering, exiting, and transiting the country, as well as organizations providing digital signature authentication services and software. The document clarifies core concepts such as the national single window mechanism, the national single window portal, specialized processing systems, electronic documents, the ASEAN single window mechanism, and product identification numbers. It also stipulates that the national single window portal must ensure functions ranging from receiving, verifying, and forwarding documents to storing transaction status, sharing information, and connecting internationally, based on principles of compliance with laws on security, cybersecurity, transparency, and facilitating access for citizens and businesses. Regarding organizational management and operation, the Customs Department under the Ministry of Finance is responsible for the technical management, operation, and maintenance of the National Single Window Portal, issuing accounts, ensuring continuous 24/7 operation, and coordinating internationally. Meanwhile, ministries and agencies are responsible for connecting their specialized processing systems to the National Data Integration and Sharing Platform and standardizing data according to regulations. The Decree specifies the authority to access, storage measures, and ensuring information security, network security, and data security, including the requirement that data classified as state secrets must be stored in Vietnam. The responsibilities of ministries managing specific sectors and fields include publishing the list of procedures, standardizing electronic document forms, coordinating incident handling, and maintaining user support channels. Regarding general regulations on administrative procedures, the decree provides detailed guidance on the registration, locking, activation, revocation, and management of applicant accounts (via the portal or VNeID application) as well as accounts of officials and civil servants. The use of digital signatures must comply with specialized laws and be certified by a legally authorized service provider. The process of carrying out administrative procedures on the National Single Window Portal involves submitting information, assigning file numbers, specialized processing, and automatically returning results, without changing the authority or file components as stipulated by specialized laws. Administrative files include electronic and paper documents, with specific regulations on legal conditions, conversion between paper and electronic documents, and procedures for handling technical incidents or force majeure events through paper files or a backup specialized system. For exported, imported, and transit goods, the declaration, amendment, and submission of documents are carried out through a General Declaration or standardized criteria developed by the relevant ministries, combined with a mechanism for using inspection results for identical imported goods exceeding the declared quantity. Ministries managing specific sectors and fields apply risk management and compliance assessment to issue lists of export and import goods subject to specialized management, linked to specific HS codes. They also closely coordinate with customs authorities and conformity assessment organizations in inspecting, sampling, and detecting substandard or potentially violating goods for timely handling. Regarding transportation, the decree divides it into separate sections for each sector, including air transport, sea transport (inland waterways, offshore oil and gas ports), road transport, international rail transport, and inland waterways. At airports and international rail terminals, airlines and customs declarants are responsible for providing flight information, passenger lists, crew lists, and reservation information (PNR) in advance to immigration, customs, health quarantine, and port authorities for processing and confirmation of completion of procedures within no more than one hour from the time of receiving all valid documents. For ships and vehicles on land and inland waterways, the decree clearly stipulates the deadline for declaration before arrival at border gates, the responsibilities of each functional force at the border gate, the mechanism for determining the final decision-making authority when agencies have differing opinions on the same document, as well as the procedures applicable to specialized transport vehicles such as autonomous vehicles, conveyor belts, and pipelines. Finally, the chapter on international treaties affirms that the National Single Window Portal is the central hub for exchanging information and electronic documents with countries and territories that have international agreements, especially the implementation of the ASEAN Single Window mechanism to mutually recognize electronic documents, simplifying procedures and reducing the time for customs clearance of goods and vehicles.

Law No. 11/2026/QH16 The law amends and supplements several articles of the Customs Law. The main focus of the law is on improving regulations on the national single window mechanism, compliance management, risk management, and specialized customs operations.

Regarding general concepts and principles, the amended law defines the national single window mechanism based on the national single window information system for handling customs procedures and related state management procedures. Simultaneously, the document adds new concepts such as compliance management and duty-free business locations, and clearly expands the scope of customs declarants to include owners of e-commerce platforms, postal and express delivery businesses, and customs clearance agents. Customs inspection and supervision are oriented towards the application of technical standards for electronic data exchange, risk management, and compliance management to ensure effective management combined with trade facilitation. Regarding e-commerce and digital technology, the law includes a separate provision regulating customs inspection and supervision of goods exported and imported through e-commerce platforms. Accordingly, organizations and individuals buying and selling goods across borders through these platforms are required to perform electronic identification and authentication. The owners of e-commerce platforms are responsible for directly connecting with the customs authority's data processing system, providing information related to goods, and coordinating closely with transportation and warehousing businesses to support supervision. In addition, customs authorities are directed to apply digital technology, big data, and artificial intelligence in operational processes such as risk management and assessing the level of legal compliance of customs declarants to consider applying preferential treatment or exemptions from inspection levels as appropriate. Regarding customs procedures and warehousing, the law specifies the components of customs documentation, including customs declarations in the form of data messages or paper documents ensuring integrity. In cases where information has already been issued by specialized agencies through the national single window mechanism, the customs declarant does not need to resubmit it. The deadline for submitting customs documents for exported and imported goods is specifically regulated for each type. Regulations concerning bonded warehouses, consolidation points for less-than-container-load (LCL) shipments, inspection and supervision points, and duty-free shops are also standardized regarding storage time (not exceeding 24 months). (from the date of completion of customs procedures), establishment conditions, rights and obligations of business enterprises aim to enhance transparency and the ability to connect electronic data with customs authorities. Regarding post-clearance inspection, dispute resolution, and intellectual property, the law clarifies the scope and authority of the Director of the Customs Department, the Head of the Post-Clearance Inspection Sub-Department, and the Head of the Regional Customs Office to decide on post-clearance inspections for a maximum period of 5 years from the date of declaration registration. The inspection period is set at no more than 20 days and can be extended once for a maximum of 20 days in complex cases. For the field of intellectual property, customs authorities are granted the authority to apply control measures and have the right to proactively suspend customs procedures when there is clear evidence to suspect that goods are counterfeit in terms of intellectual property. Finally, the law also adjusts the names, functions, and duties of some agencies under the customs system to ensure consistency with related laws.

DRAFT

The draft Decree detailing certain provisions and implementation measures of the Law on Export and Import Taxes includes general provisions and tax exemption, reduction, and refund regimes, aiming to provide detailed guidance on the Law on Export and Import Taxes and related amending and supplementing laws.

Chapter I of the draft focuses on general regulations regarding the scope of application, applicable subjects, and detailed identification of taxable subjects (including goods imported and exported through border gates and checkpoints, goods traded with non-tariff zones, goods imported and exported on-site, and the rights of export processing enterprises), as well as the principle of applying flexible tax rates to ordinary, preferential, special preferential, and on-site imported and exported goods. This chapter also clearly stipulates the tax payment deadlines and forms of guarantees (individual guarantees, joint guarantees) and tax deposits applicable to specific business activities such as temporary import and re-export. Chapter II of the draft regulations details the cases eligible for import and export tax exemptions, reductions, and refunds for various entities. Specifically, the decree stipulates tax exemptions for foreign organizations and individuals enjoying diplomatic privileges and immunities based on quotas and confirmation from the Ministry of Foreign Affairs; tax-free baggage for departing and arriving passengers depending on the category and duration of travel; movable assets of foreigners, Vietnamese citizens residing abroad, or citizens returning home; commercial or humanitarian gifts, charitable gifts, and gifts of medicines for serious illnesses, subject to value limits and annual frequency of receipt; as well as goods bought and sold by border residents within permitted limits. In addition, the draft dedicates a significant portion to detailing tax exemptions for strategic production, business, and investment activities, including: imported goods for processing and processed products for export; exported goods for processing and imported processed products; imported goods for the production of export goods; goods temporarily imported for re-export or temporarily exported for re-import within a specified period; imported goods that create fixed assets for projects eligible for investment incentives, especially large-scale projects or those employing a large workforce in rural areas; raw materials, supplies, and components that cannot be produced domestically, serving projects with special investment incentives or in disadvantaged areas for a period of 5 years; goods serving oil and gas activities, shipbuilding, development of plant and animal breeds, fertilizers, and pesticides for agriculture; goods for scientific research, technological development, innovation, and the digital technology industry. Goods directly serving national security, defense, and education; raw materials for the production of medical equipment prioritized for research and manufacturing; goods for environmental protection; money printing and minting activities; samples and advertising publications not intended for commercial purposes; as well as goods serving to ensure social welfare, mitigate the consequences of natural disasters, calamities, and epidemics; agricultural products grown in Cambodia supporting investment and import into the country; and other special cases as decided by the Prime Minister.

The draft Law amending and supplementing several articles of the Securities Law focuses on perfecting legal regulations to promote the development of the securities market. The draft clarifies and supplements general concepts and regulations, such as amending the definition of exchange-traded funds (ETFs) and adding specific definitions of organizations employing individuals with securities professional licenses. Simultaneously, the State is directed towards stronger policies in investing in the modernization of infrastructure and information technology, attracting and rewarding human resources, and promoting the dissemination of knowledge about the securities market. A significant new point is the addition of Article 6a, establishing a legal framework for a controlled testing mechanism for the application of new technologies, products, services, and business models in the securities sector within limited time, space, and scope, under the strict supervision of state agencies.

In addition, the draft also includes several important adjustments related to the securities offering process, electronic trading, and market infrastructure. Specifically, regulations on the documentation and procedures for public securities offerings have been amended and supplemented to facilitate the issuing organization. The deadline for publishing the Notice of Offering after the Certificate of Offering becomes effective is clearly set at 7 working days on the electronic information website, the Stock Exchange, and at least one online newspaper. The minimum shareholding ratio after the initial public offering for enterprises with charter capital of VND 1,000 billion or more is adjusted more flexibly to 10%, held by at least 100 investors who are not major shareholders. Regarding trading and payment infrastructure, the draft adds a legal framework for electronic trading and ensures the security of electronic transactions as stipulated by the Minister of Finance; Simultaneously, the scope of entities eligible to register for securities custody services will be expanded to include branches of foreign banks, and the categories of commercial banks permitted to provide payment services for securities transactions will be clarified. Regarding the establishment, operation, and personnel requirements of securities business organizations, the draft amendments and additions introduce stricter and more reasonable standards for securities companies and fund management companies. Specifically, shareholders or capital contributors that are organizations must have profitable business operations for two consecutive years preceding the year of application for a license. Conditions for key personnel such as the General Director (Director), legal representative, and professional staff are specified in more detail regarding professional standards, professional certifications (such as financial analysis or fund management certifications), as well as minimum requirements for years of work experience in the finance, banking, securities, or insurance sectors. For branches of foreign fund management companies and foreign securities companies in Vietnam, the conditions for licensing and international cooperation agreements between the country of origin's regulatory authority and the State Securities Commission are also updated accordingly. Regarding the business operations and service provision of securities companies, the draft expands and clarifies the scope of business activities, including the management of trading accounts for individual investors, the provision of asset management agency services, bondholder representation services, and other corporate financial advisory services. Regulations on the issuance and revocation of securities professional certificates, along with the rights and responsibilities of practitioners, are also tightened; this includes the addition of cases for certificate revocation when failing to participate in periodic training or not working at organizations employing personnel with professional certificates for three consecutive years. Simultaneously, regulations related to the management of securities investment funds, supervisory banks, investor meetings, and investment limits for public funds are also refined.

The draft Law on Small and Medium-Sized Enterprise Development comprehensively regulates the principles, content, resources, and management forms of budget support, as well as the responsibilities of relevant agencies, organizations, and individuals. Regarding the scope of application, the Law regulates enterprises established and operating under the law on enterprises, meeting the criteria for defining small and medium-sized enterprises based on the average annual number of employees (not exceeding 300 people) combined with the criteria of total capital (not exceeding VND 150 billion) or total revenue in the preceding year (not exceeding VND 400 billion), categorized by sectors: agriculture, forestry, fisheries , industry, construction, trade, and services. The core support principles include focused, time-bound, non-duplicated support, ensuring market principles, openness, transparency, promoting the application of digital transformation and artificial intelligence, and prioritizing businesses owned by women or people with disabilities, those employing a large number of female workers or people with disabilities, or businesses located in mountainous, border, and island regions.

Regarding general support measures (Chapter II), the State promotes access to credit through innovative financial products, data-driven lending, cash flow, value chain, and intangible asset-based lending. In terms of taxation and accounting, micro and small enterprises benefit from lower corporate income tax rates, tax exemptions for the first three years of establishment, and simplified administrative procedures and accounting systems. Regarding production space, local budgets are used to support investment in infrastructure for industrial parks, clusters, and incubation facilities specifically for small and medium-sized enterprises (SMEs) to lease, with a minimum 30% reduction in land rent for the first five years, and the allocation of a minimum of 20 hectares of land, or 5% of the area of newly established industrial parks and clusters. The fields of science and technology, innovation, and digital transformation are emphasized through provisions allowing the allocation of science and technology development funds, estimating research and development costs at 200% of actual costs, and supporting the use of shared laboratory facilities, digital infrastructure, and shared accounting software. In addition, the draft regulations stipulate policies to support participation in public procurement (reserving at least 20% of the procurement budget or a contract package not exceeding 20 billion VND for small and medium-sized enterprises), support cross-border e-commerce, training, consulting, legal support, and providing unified information through the Enterprise Information System. In particular, the supporting ecosystem is also strongly oriented towards connecting service markets, expert networks, and innovation centers. Besides general provisions, Chapter III of the draft law focuses on key target groups and activities. For innovative start-up small and medium-sized enterprises (SMEs), the law stipulates specific tax incentives (exemption and reduction of corporate income tax and personal income tax for investors and experts), accelerated depreciation of fixed assets used for research and development, designated bidding for specialized consulting services, and creating a favorable legal framework for private venture capital funds. For businesses converting from household businesses, the draft provides maximum support through a fast registration procedure within one working day, exemption from registration fees, application of a simplified accounting and tax declaration system for 36 months, support for the cost of using digital platforms, accounting services, and flexible social insurance and labor compliance solutions. For sustainable businesses, support policies include a 2% annual interest rate subsidy for green and circular projects, environmental protection tax incentives, accelerated depreciation of green-converted machinery and equipment, and support for ESG certification costs. For businesses participating in value chains and investing abroad, the government supports upgrading supplier capacity, testing and quality control, developing joint technologies with leading businesses in the chain, and supporting international investment strategies. Chapters IV and V detail the responsibilities of the Government, Ministries, ministerial-level agencies, local authorities at all levels, socio-professional organizations, service providers, and businesses themselves in disclosing information, inspecting, evaluating, and handling violations. In terms of legislative consistency, the draft amends point d, clause 2, Article 10 of the Bidding Law No. 22/2023/QH15 to prioritize construction packages up to VND 20 billion for micro, small, and medium-sized enterprises (MSMEs). The law is expected to take effect from July 1, 2027, accompanied by transitional provisions to ensure the rights of ongoing programs, and requires the review, merger, or dissolution of local credit guarantee funds and the Small and Medium-sized Enterprise Development Fund within a maximum of one year.

The draft Decree amending and supplementing several articles of Decree No. 320/2025/ND-CP (amended and supplemented by Decree No. 141/2026/ND-CP) detailing the implementation of the Corporate Income Tax Law, focuses on adjusting regulations on deductible expenses when determining taxable income, investment incentive criteria, tax rates, tax exemption and reduction periods, and transitional provisions related to high-tech and strategic technology enterprises.

Specifically, Article 1 amends and supplements regulations on documents, invoices, and non-cash payment conditions for expenditures on the purchase of agricultural, forestry, and aquatic products, scrap materials, goods, and services by households and individuals. It also adds exceptions where non-cash payment is not mandatory for businesses paying employees or households and individuals residing in areas with difficult and extremely difficult socio-economic conditions as stipulated in Decree No. 96/2026/ND-CP. Articles 2, 3, 4, and 5 amend and supplement the contents regarding industries, fields, and geographical areas eligible for investment incentives (including high-tech and strategic technology applications, research and development centers, and high-tech product manufacturing enterprises), stipulating a preferential tax rate of 10% for 25 years for strategic technology enterprises (point e1, clause 2, Article 18), as well as standardizing the calculation of the start date for applying the preferential tax rate, the tax exemption period, and the tax reduction period from the year of revenue or income generation, or from the year of initial issuance of confirmation documents or certificates. In addition, Article 6 stipulates transitional provisions ensuring the continued enjoyment of tax incentives as stated on previously issued certificates for organizations and enterprises under the High-Tech Law No. 21/2008/QH12 until the expiration date. Finally, Articles 7 and 8 stipulate the effective date of the Decree (including provisions on cashless payments applicable from the tax year 2026, and provisions on technology incentives applicable according to the effective date of Law No. 133/2025/QH15 on High Technology, Law No. 116/2025/QH15 on Network Information Security, and Law No. 143/2025/QH15 on Investment) and assign responsibility for implementation to Ministers, heads of ministerial-level agencies, Chairmen of People's Committees of provinces and centrally-administered cities, and relevant agencies, organizations, and individuals.