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Mr Nguyen Hung Du and Ms Tran Nguyen Mong Van of Grant Thornton Vietnam discuss the tax treatment of royalties in Vietnam and the potential benefits and opportunities for foreign enterprises there.

A project management office (PMO) in Vietnam commonly refers to an office established by a foreign contractor that is registered to operate in the locality where its construction work is carried out. A PMO would operate within the terms of a contract and be dissolved when the contract expires.

Going along with the development of science and technology and industrial revolution 4.0, 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.

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.

Being a dependent unit of a foreign company to conduct a number of limited commercial promotion supporting activities permitted by Vietnam laws, a Vietnam-based representative office without carrying out any profit-making activities seems to be quite simple to manage, save cost and simplify the compliance procedures during operation, i.e. no Value Added Tax (VAT), no Corporate Income Tax (CIT), no requirement to maintain the stipulated accounting books, no independent audit required by laws, etc.

In this newsletter, Grant Thornton Vietnam would like to update our valued customers on important legal policies that have just been issued recently.

Vietnam: Expenses for Intra-Group Services

Nguyen Thu Phuong and Nguyen Hung Du, of Grant Thornton Vietnam, discuss foreign direct investment in Vietnam looking specifically at the use of a direct investment capital account and the tax risks involved.

Grant Thornton Vietnam is pleased to issue the updated 2020 edition of ‘Doing Business in Vietnam’. We hope you find this guide is useful and helpful in understanding how to do business in Vietnam.

In this November tax newsletter, Grant Thornton Vietnam would like to update out valued customers on important legal policies that have just been issued recently.

After more than three years of implementing Decree No. 20/2017/ND-CP ("Decree 20") and other amending and guiding documents such as Decree No. 68/2020/ND-CP ("Decree 68") and Circular No. 41/2017/TT-BTC ("Circular 41"), on 5 November 2020, the Government has officially issued Decree No.132/2020/ND-CP ("Decree 132") to replace Decree 20 and Decree 68 prescribing tax administration for enterprises engaged in Transfer Pricing.

Nguyen Hung Du and Tran Nguyen Mong Van, of Grant Thornton Vietnam, discuss the stimulus solutions for Covid-19 announced by the Vietnamese government.

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.

Measures to promote technology transfer in Vietnam

The Prime Minister has just issued the Decision No.13/2020/QD-TTg on the mechanism to encourage the development of solar power in Vietnam, which simultaneously removes the bottlenecks on electricity price over the past few months and creates new opportunities for Vietnam’s green power market.

05 May 2020 - In this article, we would like to draw your attention to the key considerations on tax implications on the income earned by tech-based drivers under partnership with ride-hailing companies.