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Vietnam - Tax Implications for Foreign Individuals

12 Aug 2020

In the globalization of Vietnam’s economy, many international business organizations have been doing cross-border business with Vietnamese party by assigning their expatriates to Vietnam to execute the contract without establishing a subsidiary. Tax implication for these designated foreign individuals and the tax protection available under a double tax agreement will be discussed in the recent article by experts from Grant Thornton Vietnam, Valerie Teo – Tax Partner and Nguyen Tan Tai – Tax Services Manager

Indirect Offshore Capital Transfer and Potential Capital Gains Tax in Vietnam

31 Jul 2020

Many foreign investors have been investing into Vietnam through a holding company or subsidiaries of their group located overseas, not only aiming to achieve convenience in their internal business management but also tax efficiency for their future exit plan. Foreign investors have been able to take advantage of unclear regulations on the taxing mechanism of offshore acquisitions leading to the indirect transfer of the Vietnamese enterprise over the past few years. In the recent article conducted by Ms. Lac Boi Tho, Tax Services Director and Mr. Nguyen Hung Du, Tax Partner of Grant Thornton Vietnam, the tax implications on the income derived from an indirect offshore capital transfer in Vietnam will be discussed in details.

Covid-19 and the resilience of the private sector

30 Jul 2020

The Grant Thornton International Business Report (IBR) is the world’s leading mid-market business survey, interviewing senior executives every quarter in listed and privately-held companies all over the world.

Share and Asset Deals in Vietnam

21 Jul 2020

Mergers and acquisitions are useful tools in facilitating corporations in deploying their business in Vietnam. This can be structured in two common ways, (i) purchase of shares, or (ii) purchase of assets. An acquisition in the form of a share deal, which can preserve tax attributes and licensing benefits of the target entity, is the option more frequently used in Vietnam. In the article reviewed by Ms Valerie Teo – Partner and Ms Luong Thuy Trang – Manager of Tax Services, Grant Thornton Vietnam, some of the most important considerations should contemplate before making a decision on the form of acquisition in Vietnam will be discussed further.

Tax Incentives for Vietnam's Agriculture Sector

03 Jul 2020

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. They are designed to attract investment to the agriculture sector, sustain long-term development and improve the income of individual farmers who make up a large proportion of Vietnam’s labor force. The article was written by Mr Nguyen Tan Tai, Tax Manager and Mr Nguyen Hung Du, Tax Partner shared some points of view from professionals on this area.

Value-Added Tax Refunds in Vietnam

11 Jun 2020

The coronavirus (Covid-19) outbreak has created major economic disruptions and the global economy is projected to contract sharply by -3% in 2020 (source: IMF World Economic Outlook 2020, April 14, 2020). Likewise, the economic impact has intensified in Vietnam due to social distancing, the stoppage in production, disruptions in business investments/operation resulting in losses and difficulties for investors and business communities.

What are available tax incentives for foreign investors in Vietnam?

10 Jun 2020

Nguyen Hung Du and Luong Thuy Trang, of Grant Thornton Vietnam, provide an overview of tax incentives in Vietnam and discuss how foreign investors can make the most of the opportunities available.

Loss making MNCs in Vietnam and transfer pricing implication

10 Jun 2020

Recording loss is a normal event in the operational journey of a company. However, in a transfer pricing analysis, judging a company merely from accounting loss may not be appropriate. One has to delve further and understand the economics behind the numbers and not just the financial outcome of profit or loss.

How to manage Permanent Establishment (PE) risk exposure of Representative Office in Vietnam

10 Jun 2020

There are potential licensing and tax risk issues in the event that a representative office is treated as a permanent establishment by its activities in Vietnam, as discussed by Nghiem Xuan Hong An and Nguyen Hung Du, of Grant Thornton.

Vietnam—Benefits of Intra-Group Transactions in MNEs

10 Jun 2020

Nguyen Thu Phuong and Nguyen Hung Du, of Grant Thornton Vietnam, discuss the impact of an intra-group agreement and the tax risks involved.