On 8 August 2019, Vietnam's Ministry of Finance issued Circular No. 48/2019 providing guidance on several types of provisions. The circular will enter into force on 10 October 2019 and will apply from fiscal year 2019 onwards. It replaces Circular 228/2009/TT-BTC and its amendments. Some of the key features of the circular include. The circular applies to enterprises that are established under Vietnamese law (including foreign credit institutions and bank branches established in Vietnam, with the exception of provisions for credit risks). The circular includes a list of items for which provisions can be established including the calculation formulas. The...