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With the introduction of BVI’s Securities and Investment Business (Amendment) Act (SIBA) since December 2019, all closed-ended funds incorporated or registered in the jurisdiction would likely fall within the scope for “Private Investment Funds” and must comply to this new regulation within the transition period by 1st July.

While the majority of offshore businesses have prepared to meet the mandatory Economic Substance Regulations (ESR) in their jurisdiction, some businesses now look at re-domiciling as an alternative solution for their situation. RAK ICC appears to be an additional choice in this case.

The Tax Administration Law in Vietnam has brought notable changes to improve tax collection and to keep abreast of changes to the digital economy. Valerie Teo and Nguyen Tan Tai, of Grant Thornton, consider the impact of the new law, effective from July 1, 2020, on e-commerce business in Vietnam.

Companies need to prepare survival plans to navigate the choppy waters ahead with the current situation of COVID-19 outbreak. In the article published on Vietnam Investment Review, Ken Atkinson, founder and senior board advisor at Grant Thornton Vietnam, discussed the impact of on-going pandemic on the business community of Vietnam.

Valerie Teo and Nguyen Tan Tai, of Grant Thornton Vietnam, discuss the tax implications for foreign individuals who are assigned to work in Vietnam and the tax protection available under a double taxation agreement.

Vietnam is implementing a series of important changes in terms of policies to alleviate post-COVID-19 difficulties as well as enhance the business environment, unfold social power to attract and take advantage of available opportunities when major markets in the world are gradually reopening and expanding their supply chains to minimize risks and disruptions.

Quarterly analysis of UK M&A trends in software, IT services (including digital transformation), fintech, advertising and marketing services.

"The domestic sector will be dependent on the timely disbursement of the committed US$ 30 billion4 in public investment, as this will have a multiplier effect on growth. In fact July saw a positive move in this regard with disbursed public investment of US$ 1.97 billion up 51.8% from July 2019.5 All in all, as well as being a leader in the containment of Covid 19, Vietnam is also showing itself a leader in resilience and should end 2020 with one of the highest GDP growth figures, if not the highest, globally. In H1 2020 Vietnam ranked no 5 in terms of % GDP growth" - Founder and Senior Board Adviser, Kenneth M Atkinson shared his professional perspectives and comprehensive insights towards Vietnam's Economy and FDI in H1 2020

Lac Boi Tho and Nguyen Hung Du, of Grant Thornton Vietnam, discuss the tax implications on the income derived from an indirect offshore capital transfer in Vietnam.

Share and Asset Deals in Vietnam, Bloomberg

To assist businesses in comprehension and application of the new regulations, in the Tax Newsletter this month, Grant Thornton would like to summarize some key changes in the Law on Tax Administration 2019, which has been effective from 1 July 2020

Issued in May 2017, Decree 20/2017/ND-CP ("Decree 20") was an important milestone for Vietnamese tax system in its roadmap to adopt the recommendations from Organization for Economic Co-operation and Development ("OECD") in relation to the initiative of Base Erosion and Profit Shifting ("BEPS") for the purpose of better controlling the concept of Transfer Pricing in Vietnam.

The Vietnam government has introduced many tax policies for the agriculture sector in the last few decades. Compared to other industries in Vietnam, the number of tax incentives are at the highest level.

All of us are aware that Covid-19 caused severe economic damage to the global economy.

All of us are aware that Covid-19 caused severe economic damage to the global economy.

Issuance of Decree 68/2020 to replace Decree 20/2017 regarding loan interest expenses