[Event Recap] Vietnam Tax Summit 2023

Last week, on Friday, 11^th August 2023, the Vietnam Tax Summit 2023, the country’s largest annual tax summit, took place successfully. The event featured thought-provoking guest speakers, industry experts, and tax specialists. Representing Mazars Vietnam, our Tax Partner, Mr. Da Nguyen, was one of the key speakers at the summit. He delivered an illuminating presentation that delved into the trends and issues surrounding tax audit/tax inspection, which garnered a lot of interest from taxpayers and enterprises.

In accordance with Da's perspective, the General Department of Taxation requires local Tax Departments to perform several main tasks to strengthen tax audit and inspection for e-commerce and digital platforms. The new direction places a special focus on Foreign Direct Investments (FDIs) that are experiencing losses or have low profits, as well as those that are taking advantage of tax incentives as well. Furthermore, a new tax inspection process according to Decision No. 970/QD-TCT and notes when working with Tax authorities were also brought to the forefront. The subsequent Q&A session enabled Da and fellow experts to provide elucidations for practical concerns raised by enterprises.

This summit also attracted a large number of participants from Vietnamese and foreign businesses. We would like to send our massive thank you to CFO Vietnam for having us in this enlightening summit. Hope our sharing helps participants in bridging the gap between tax policy changes and the actual implementation.