Articles
EY Vietnam Tax alert - Corporate Income Tax January 2021
- EY Vietnam
This tax alert highlights the following key points: 1) Tax finalization compliance work for 31 March 2021 deadline, 2) Deadlines coming-soon, 3) Plan for the coming year compliance calendar for 2021
Future of Digital Health in Vietnam
- KPMG Vietnam
If Vietnam hopes to continue to expand access to quality care and maintain sustainable health financing, the health system will need to find a way to provide more services, while expending fewer resources per patient. Digital health is one answer to achieving scale of access while improving clinical outcomes and maintaining costs. To do this, the government needs to expand market access and encourage international business and clinical partnerships. This document is intended as an introductory guide to Vietnam’s digital health market.
EY Vietnam Tax alert - Personal Income Tax January 2021
- EY Vietnam
This personal tax alert highlights the following key points: 1) Critical matters for personal income tax (PIT) 2) Finalization, 3) PIT compliance calendar for year 2021.
Transition to IFRS: Where to start?
- PwC Legal Vietnam
With the approval from the Ministry of Finance on the Vietnam Financial Reporting Standards roadmap in Decision 345/QD/BTC, it is now essential for eligible entities to begin preparations towards International Financial Reporting Standards (IFRS) compliance, and to be open to opportunities for business transformation. This alert outlines the decision flow and recommendations for entities to determine their plans for the IFRS journey.
Alert on immigration - January 2021
- KPMG Vietnam
On 30 December 2020, the Government officially issued the long awaited Decree No.152/2020/ND-CP (“Decree 152”) providing guidance on implementation of some articles of the Labor Code No. 45/2019/ QH14 with regard to foreign workers working in Vietnam and recruitment and management of Vietnamese laborers working for foreign organsations or individuals in Vietnam. Decree 152 will take effect from 15 February 2021.
Beyond COVID-19: Deal considerations in a COVID-19 world
- PwC Legal Vietnam
Considerations when quantifying and explaining the impact of COVID-19 to key stakeholders. Companies that made deals during uncertain times may outperform their industry peers. The view that companies should pursue acquisitions in a downturn is contrary to traditional thinking. But it’s shaped by an understanding of what propelled past M&A cycles—the historical relationship between M&A and various economic and financial drivers—and what’s different today.
Corporate Income Tax ("CIT") incentives for software production
- Grant Thornton Vietnam
The National Assembly and Government have promulgated by many policies to support the development of Information Technology (“IT”) industry in Vietnam in order to enhance the competitiveness of IT enterprises as well as the investment attraction strategy, in which the Corporate Income Tax (“CIT”) incentives policy stands out to further promote the development and application IT in Vietnam.
EY Vietnam Tax Update - January 2021
- EY Vietnam
January 2021 Tax Update highlights the following key points: 1) The tax treatment of quarantine expenses due to the COVID-19 pandemic, 2) The value added tax (VAT) treatment of investment project sales, 3) The General Department of Taxation (GDT) urging provincial tax authorities to apply measures to collect tax, and 4) The personal income tax (PIT) treatment of transportation subsidies given to business individuals.
A comparison of IFRS and Vietnamese GAAP
- PwC Legal Vietnam
International Financial Reporting Standards (IFRS) represent the most significant shift in financial reporting and the biggest accounting change in a generation. IFRS has become the most common accounting language globally. A statistic by IFRS.org indicates that by April 2018, for 166 jurisdictions under the survey, 144 jurisdictions (87%) required the use of IFRS. The majority of the remaining 22 jurisdictions either permit the use or are in the process of adopting IFRS. Only seven jurisdictions including Vietnam are still using national standards. As Vietnam integrates more into the regional economics, there is an increasing need for both Vietnam as a country, and each Vietnamese enterprise to be familiar with IFRS and plan ahead for IFRS adoption in the near future.
Client Alert: Overview – Regional Comprehensive Economic Partnership (RCEP)
- Sciaroni & Associates
The Regional Comprehensive Economic Partnership (“RCEP”) is a modern comprehensive free trade agreement in the Asia-Pacific region comprising 10 ASEAN countries and 5 Free Trade Agreement (“FTA”) partners (China, South Korea, Australia, and New Zealand). Its 15 member countries consist of the largest trade bloc and penetrating 30% of the world’s population. This article discusses the agreement and its likely impact on less developed countries such as Cambodia, Laos, and Myanmar.
RHTLaw Vietnam: Updates & Key Considerations - January 2021
- RHTLaw Vietnam
In this newsletter: 1) Circular No. 96/2020/TT-BTC of Ministry of Finance dated 16 November 2020 Guiding Information Disclosure on Securities Market (Effective on 01 January 2021); and 2) Decree No. 145/2020/ND-CP of the Government dated 14 December 2020 Guiding the Labour Code on Working Conditions and Labour Relations (Effective on 1 February 2021).
Legal Guide To Merger Control in Vietnam
- Venture North Law Firm
This guide provides an Overview of merger control regulations in Vietnam. It covers the regulatory framework and authority, relevant trigger events and thresholds, notification requirements, procedures and timetable, substantive test, remedies, penalties, and appeals.
Tax Incentives for Supporting Industries in Vietnam
- Grant Thornton Vietnam
The Vietnam government has introduced policies to encourage the growth as well as maintain the competitiveness of “supporting industry” investment in Vietnam. Valerie Teo and Nguyen Tan Tai, of Grant Thornton Vietnam, discuss the available tax incentives for supporting industries.
Mazars in Vietnam Newsletter - Tax & legal updates - December 2020
- Mazars Vietnam
We would like to bring you tax and legal updates for December 2020 including: 1. Official Letter 101317/CTHN-TTHT guiding Foreign Contractor Tax ("FCT") applied to income from providing data access right, 2. Official Letter 4827/TCT-CS providing guidance on FCT applied to legal services provided abroad, and 3. Official Letter 5032/TCT-CS providing guidance on CIT, PIT applied to quarantine-related expenses for expatriates paid by the employer.
Doing Business in Viet Nam 2020
- PwC Legal Vietnam
We're delighted to share with you the 9th edition of our flagship annual publication - 'Doing Business in Viet Nam', co-published with the Viet Nam Chamber of Commerce and Industry (VCCI). As part of our continued support to the business community, the guide outlines the fundamentals of investing in Viet Nam, highlights some common issues that investors should be aware of when operating in Viet Nam.
Tax alert - Decree 132 on tax administration for companies having transactions with related parties
- Mazars Vietnam
On 05 November 2020, the Vietnam Government issued Decree 132/2020/ND-CP (“Decree 132”) on tax administration for companies having transactions with related parties, replacing Decree 20/2017/ND-CP and Decree 68/2020/ND-CP, preceding regulations regarding transfer pricing and loan interest expense deductibility for companies that have transactions with related parties).
RHTLaw Vietnam: Updates & Key Considerations - December 2020
- RHTLaw Vietnam
In this newsletter: 1) Law No. 62/2020/QH14 on amendments to 2014 Construction Law, 2) Decree No. 135/2020/ND-CP of the Government dated 18 November 2020 Regulating the Retirement Age, 3) Decree No. 132/2020/ND-CP of the Government dated 5 November 2020 Regulating Tax Management of Enterprises with Related Transactions, and 4) Circular No. 05/2019/TT-BKHCN of Ministry of Science and Technology dated 26 June 2019 Detailing Some Articles of Decree No. 43/2017/ND-CP dated 14 April 2017 of the Government on Goods Labels.
Mazars in Vietnam Newsletter - Tax & legal updates - November 2020
- Mazars Vietnam
We would like to bring you tax and legal updates for November 2020 including: 1) Official Letter 12452/BTC-TCT guiding the deductibility of depreciation corresponding to fixed assets which become temporarily idle due to COVID-19 impacts, 2) Official Letter 94769/CT-TTHT providing guidance on Foreign Contractor Tax ("FCT") applied to cloud compute services, and 3) Official Letter 4073/TCT-CS guiding the deductible expenses related to employee retention during the period of labour contract suspension due to COVID-19.
Mazars in Vietnam Newsletter - Customs Update - Issue November 2020
- Mazars Vietnam
We would like to bring you notable customs updates for November 2020 including: 1) Customs Declaration & Customs Tax Policy, 2) Cerfiticates of Origin, 3) Customs Procedure & Tax Policy Applying To Export-Manufacturing Model, Export-Processing Model And Export-Processing Enterprises (“EPES”). and 4) Specialized Management Requirements For Imported Goods.
KPMG Tax & Legal Updates - November 2020
- KPMG Law Limited
This tax and legal updates covering the following issues: 1) Corporate income tax, 2) foreign contractor tax, 3) personal income tax, 4) export / import tax, 5) special consumption tax, 6) tax administration and customs administration, and 7) foreign exchange control
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