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The RCEP was signed last week in Hanoi, via phone call, by 15 countries (ASEAN and 5 non-ASEAN members being Australia, China, Japan, New Zealand and South Korea). Negotiations started in 2012, and needs further ratification by each country and RCEP will not become effective until this is done by at least 6 ASEAN and 3 Non ASEAN member countries.

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

Valerie Teo and Nguyen Tan Tai, of Grant Thornton Vietnam, discuss the tax incentives in Vietnam in renewable energy and the issues to consider before making an investment.

Vietnam has announced its ambition to be a high income country by 2045, which some may consider to be a major challenge. It is true that Vietnam has shown remarkable growth in per capita income from around US$ 100 per year at the end of the 1980’s to almost US$ 2,800 last year, but to achieve high income status we are talking about a figure of over US$ 12,000 (World Bank 2018 figures).

Nguyen Dinh Huy and Nguyen Hung Du, of Grant Thornton Vietnam, explain how businesses need to prepare for a tax audit in Vietnam, looking at the common areas likely to be challenged by the tax authorities.

The diagnostic rated the business resilience of each participating company in the Covid-19 pandemic environment, and analyzed factors of resilience along key aspects of business operations – finance, supply and demand, external factors, and digitization. The findings, based on data, not on expert opinion, were sometimes expected and sometimes surprising

Grant Thornton Vietnam, in partnership with enablecode and TRG, have released the initial report with results of the Business Pandemic Resilience Diagnostic, based on a survey conducted earlier this year. The diagnostic rated the business resilience of each participating company in the Covid-19 pandemic environment, and analyzed factors of resilience along key aspects of business operations – finance, supply and demand, external factors, and digitization.

Vietnam has demonstrated strong and stable growth in attracting foreign direct investment. Kenneth Atkinson, founder and senior board adviser at Grant Thornton Vietnam, explains how the country can push ahead even further

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.

"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.

20 April 2020 The term of WFH (teleworking, remote working) or BCP are nothing new to most business owner. In the global pandemic environment, businesses are scrambling to put together a Work From Home plan to keep the business running with minimal staff at the office. Businesses also face the challenge of Business Continuity in the event of zero staff at the office, or even no office!

How is the second-home segment of Vietnam attractive to international visitors? Why Vietnam should be chosen for expats to live in? Vietnam has been one of the top performing inbound tourism markets over the last few years rising from 7.6 million in 2013 and rising to 18.5 million in 2019 with a forecast 20.5 million in 2020 (prior to COVID 19). I In January 2020 we received just under 2 million foreign visitors in one month alone. Much of this raid increase in inbound tourists has come from China, South Korea and Japan who together have contributed more than 50% of the inbound market.

There have been more than 18,000 deaths in the USA alone so far this year from Influenza (CDC) far less than deaths from Covid-19. The Government has been working hard and in addition to efforts on the medical front they are also evaluating on how to help support business. Directive no 11/CT-TTg is a move in this direction and covers abroad range of measures.