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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.

Globally our report shows that despite talk of a slowdown in global economic growth and the more challenging economic environment, more than half the 10,000 businesses surveyed in our IBR reported revenue growth in excess of 5% in the first half of 2019. In Vietnam more than 70% of the firms interviewed have seen revenue grow by more than 5% in the last 12 months.

IFRS News Q3 2019

The sector seems to be attracting a lot of attention from both private airlines and the regulators, whilst Vietnam Airlines the state owned carrier records record number of passengers and a growing fleet of aircraft.

Technology Transfer Transactions to Vietnam—Potential Tax Risks

Insights, Labour Productivity- is a breakthrough imminent?

Family owned business

With the increasing trends in economic integration, it is normal that overseas organizations and foreign individuals generate income from doing business in another country rather than their home countries. In Vietnam, if a foreign organization earns income in Vietnam through providing services, or selling goods together with services, or trading, its income will be subject to Vietnamese Withholding Foreign Contractor Tax (FCT).

With the increasing trends in economic integration, it is normal that overseas organizations and foreign individuals generate income from doing business in another country rather than their home countries. In Vietnam, if a foreign organization earns income in Vietnam through providing services, or selling goods together with services, or trading, its income will be subject to Vietnamese Withholding Foreign Contractor Tax (FCT).

With high economic growth and a stable political environment, Vietnam has become an attractive destination for Private Equity (PE) funds. In addition to some well-established Vietnam-based PE firms, such as Mekong Capital, VinaCapital, and Vietnam Investments Group, there are a growing number of offshore PE firms looking for investment opportunities in Vietnam. What PE funds can bring to Vietnam businesses are not only about providing capital, but also about other aspects of operation, including corporate governance, business ideas, relationship and experience.

Chairman's Insights Vietnam's productivity