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Upcoming changes to Vietnam's tax laws on VAT, corporate income tax, and special sales tax are raising concerns for businesses. The article discusses key proposed amendments, such as VAT exemptions for exported services, increased VAT thresholds for business households, and changes to capital gains tax for foreign corporate investors. Businesses are urged to provide feedback to the National Assembly before the laws are finalized in late 2024 and 2025.

Apple’s recent visit to Vietnam by CEO Tim Cook signifies a significant commitment by the tech giant to the Southeast Asian nation. This commitment extends beyond mere words, as Apple has pledged to increase spending on local suppliers, highlighting Vietnam’s growing importance in the company’s global supply chain.

While Vietnam and businesses are moving towards sustainability, hubs of environmental concerns remain in attractive investment destinations, requiring a change in order to become competitive.

This year’s forum took the form of a merged Forum together with Prime Ministers FDI business conference, as proposed by the Prime Minister and the MPI.

Mr. Kenneth Atkinson, Founder and Senior Board Adviser at Grant Thornton Vietnam, shares his thoughts about Vietnam's Optimism Soars as Global Recession Fears Subside based on International Business Report's finding.

Mr. Kenneth Atkinson, Founder and Senior Board Adviser at Grant Thornton Vietnam, shares his thoughts with VET on FDI inflows in 2023 and what can be expected in 2024. FDI capital to Vietnam reached $28.85 million in the first eleven months of 2023. How do you view Vietnam’s FDI attraction in 2023 and the prospects for 2024?

Economic development has always been associated with urbanisation and this should be put into context. In 1950, the world had only reached an urbanisation rate of 30 per cent, and 2007 was the first year when more than half the world's population had moved to live in cities. In Vietnam, the level of urbanisation is reported at 38 per cent, which is the same rate as Europe was at the end of World War II.

In the face of globalisation, groups of companies operating internationally often find themselves with complex corporate structures. Therefore, intra-group restructuring may need to take place to improve administrative, operational, and economic efficiency.

Grant Thornton Vietnam is pleased to announce the release of our Private Equity Survey 2023 – an edition in our Private Equity Survey series.

The United Kingdom formally signed a treaty on July 16 to accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade group, enabling membership of a modern and ambitious trade deal spanning 12 economies across Asia-Pacific and now Europe.

Environmental, social, and governance (ESG) criteria applies to governments, companies, and individuals at all levels, but here we focus on companies. This is not to say it is the most important aspect, but it is a topic of rapidly growing interest in Vietnam.

Since 2020, Vietnam has witnessed a significant increase in both numbers of completed transactions and transaction value, totaling over $12.7 billion with over 1,140 deals, according to Capital IQ data and Grant Thornton Vietnam’s analysis.

On behalf of BritCham, Mr Kenneth Atkinson – Chairman of BritCham, Founder and Senior Board Adviser of Grant Thornton Vietnam, attended the Prime Minister Dialogue with FDI enterprises last week. A few points highlighted throughout the meeting are the reduction in tariffs on many items such as footwear, clothing, and food products, prioritizing renewable energy sources to minimize negative impacts caused by electricity production on the environment.

The implementation of the UK-Vietnam Free Trade Agreement will be a boon to bilateral trade and investment between Vietnam and the United Kingdom moving forward. Kenneth Atkinson, Founder and Senior Board Adviser of Grant Thornton Vietnam, provides his insights into the wide-ranging deal.

“From a policy implementation perspective, at the moment, the key factor is that we have seen the foreign contractors start paying tax under the newly launched portal and the procedures are convenient for them. Hence, we believe that the tax revenue from this source will increase, in line with the growth of the Vietnamese economy and cross-border transactions.” said Mr Hoang Viet Dung, Tax Director at Grant Thornton Vietnam.

Kenneth M. Atkinson, Founder and Senior Board Adviser of Grant Thornton Vietnam cum vice chairman of the Vietnam Tourism Advisory Board, shared with VIR’s Thanh Van about the chances for Vietnam’s tourism industry when easing quarantine requirements and launching a pilot programme to welcome international tourists.