Latest news

You will find here our latest news in concern with: Vietnam economic news, Vietnam tax updates and law changes together with news about Mazars Vietnam and Mazars Group.

Featured article - Vietnam Investment Review: Utilising business angels to grow the startup ecosystem

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Vietnam’s great changes in legal framework on investment have significantly increased the country’s attraction to foreign capital inflows. Minh Nguyen, partner at accounting and tax advisors Mazars in Vietnam, delves into the importance of regulatory sandboxes and mentorship programmes for motivating new economic models.

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Featured article - Vietnam Investment Review Journal: Arraying Vietnam for global investment shift

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The world’s supply chain is now evolving from China to other countries in the world, particularly to the Southeast Asian region. Jack Nguyen, partner at international accounting and advisory firm Mazars in Vietnam, provides some thoughts on how Vietnam can utilise its advantages to compete with neighbouring countries in developing the supply chain.

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Webinar Recap - Investments and Supply Chain pivot to Asean countries

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On August 5th, 2020, Mazars Vietnam in collaboration with 11 business chambers organized sucessfully the Mazars' first ever regional webinar “Investments and supply chain pivot to Asean countries” that included Mazars leaders from Singapore, Vietnam, Thailand, Malaysia, Indonesia and the Philippines - countries that are expected to benefit from the increased investments. The webinar generated a lot of interests and attracted nearly 300 registrations in the region, Europe and North America.

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Mazars Vietnam is proud of being one of the best places to work in Asia.

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On 1 July 2020, at the HR Asia Awards 2020 ceremony, Mazars Vietnam was honored to receive such an important award as "The Best Company to Work for in Asia 2020" organised by HR Asia Magazine.

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Featured article - Vietnam Investment Review Journal: Tax scandals put Starbucks under the magnifying glass

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On June 22nd 2020, Mr. Jack Nguyen, Partner at Mazars in Vietnam, offered his views about transfer pricing practice by foreign companies operating in Vietnam and suggestions on what the Vietnamese authorities can do to limit transfer pricing transgression. The article looked at Starbucks' transfer pricing practice as an example, which taken as a whole is not necessarily a bad thing.

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Webinar Recap - Signs of post Covid-19 recovery: Mobility - Consumerism - Travel - Real-estate

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On June 12th, 2020, Mazars Vietnam, Savills Vietnam, Auscham Vietnam and Cancham Vietnam hosted a virtual panel discussion on the topic "Signs of post Covid-19 recovery: Mobility - Consumerism - Travel - Real-estate" attracting nearly 400 registrations.

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Covid-19 And The World of Private Equity

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We have surveyed private equity firms and investors to understand the challenges, level of optimism and response strategies as a result of the Covid-19 crisis.

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Featured article - Vietnam Investment Review: Utilisation of EVFTA requires strict clarity

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On May 25th 2020, Mr. Jean-Marc Deschamps, Managing Partner at Mazars Vietnam, was featured in an article "Utilisation of EVFTA requires strict clarity" on Vietnam Investment Review to offer his opinion on the impact of EVFTA to the movement trend of foreign direct and indirect investment flow into Vietnam and the opportunities which EVFTA brings to the business in the coming time.

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Webinar Recap - How HR Leaders Navigate Recruitment and Employment during and post Covid-19

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On May 20th 2020, Mazars Vietnam, Navigos Search and The Canadian Chamber of Commerce Vietnam organized a successful webinar "How HR Leaders Navigate Recruitment and Employment during and post Covid-19" attracting nearly 200 registrations.

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Webinar Recap - How finance executives are navigating the financial impact of Covid-19 on businesses in Vietnam

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On April 21st 2020, Mazars Vietnam, The Canadian Chamber of Commerce Vietnam and CPA Australia organized a successful webinar "How finance executives are navigating the financial impact of Covid-19 on businesses in Vietnam" attracting nearly 300 registrants.

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Latest Vietnam Tax and Legal Updates

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Mazars in Vietnam Newsletter - September 2020

We would like to bring you tax and legal updates for September 2020 with the following highlights influencing the corporate operations and payroll activities:

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Customs Alert - September 2020

On September 18th 2020, Prime Minister Nguyen Xuan Phuc approved the promulgation of Decree no. 111/2020/ND-CP (Decree) relating to Vietnam’s import & export tariffs schedule in accordance to the European Union Vietnam Free Trade Agreement (EVFTA), for the period of 2020 – 2022.

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September 2020 - Covid-19 Regulations Updates

On 31 August 2020, Prof. Dr. Nguyen Thanh Long - Acting Minister of Health signed to issue the Official Letter No. 4674 / BYT-MT guiding the medical actions towards COVID-19 epidemic prevention and control for foreigners entering Vietnam to work in short period of less than 14 days.

Download pdf 1.06 MB

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News Bulletin 27 - Week 3 August, 2020

A recent study shows that Vietnam is in the top 16 most successful emerging economies in the world, with many prospects to narrow the gap with developed countries amidst the COVID-19 epidemic, according to the Economist. Regarding recovery of the economy caused by COVID-19, last week, Prime Minister Nguyen Xuan Phuc chaired a meeting of the Government’s permanent members to discuss draft development plans for coming years, asking for effective and feasible solutions to minimise COVID-19-caused losses.

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Mazars in Vietnam Newsletter - Issue August 2020

We would like to bring you tax and legal updates for August 2020 with the following highlights influencing the corporate operations and payroll activities:

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Decree 68 on the deductibility of interest expense

On 24 June 2020, the Government issued Decree No. 68/2020/NĐ-CP ("Decree 68") amending Clause 3, Article 8 of Decree No. 20/2017/ND-CP (“Decree 20”) with regard to the deductibility of interest expenses incurred by companies having related-party transactions. Following up, on 14 July 2020, the Ministry of Finance issued Official Letter No. 2835/TCT-TTKT ("OL 2835") providing further guidance on the application of Decree 68.

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Mazars in Vietnam Newsletter - Issue July 2020

We would like to bring you tax and legal updates for July 2020 with the following highlights influencing the corporate operations and payroll activities:

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Tax Alert - CIT Reduction for the fiscal year 2020

On 19 June 2020, The National Assembly approved Resolution 116/2020/QH14 on the reduction of Corporate Income Tax ("CIT") for the fiscal year of 2020 for enterprises, co-operatives, public services organizations, and other organizations.

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Tax Alert - July 2020

On 03 July 2020, Ministry of Information and Communications issued Circular No.13/2020/TT-BTTTT ("Circular 13") providing new regulations on determination of software production activities to be eligible for Corporate Income Tax ("CIT") incentives.

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Customs Alert - June 2020

On 09th June 2020, General Department of Customs issued Official Letter No. 3778/TCHQ-GSQL (“OL”), providing new guidelines on the verification procedure of EPEs’ capability to satisfy Customs Inspection & Supervision Conditions

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Mazars in Vietnam Newsletter - Issue June 2020

We would like to bring you tax and legal updates for June 2020 with the following highlights influencing the corporate operations and payroll activities:

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Tax Alert - June 2020

On 02 June 2020, the Standing Committee of the National Assembly issued the Resolution No. 954/2020/UBTVQH14 on the new family circumstance deductions Personal Income Tax (“PIT”) purpose.

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New guidance on Certificate of Origin submission

On 27th May 2020, the Ministry of Finance released new Circular no. 47/2020/TT-BTC (“The Circular”) which provides new guidance on the timeline for submission of Certificate of Origin (“C/O”) as well as the manner of C/O submission during the outbreak of Corona virus (COVID-19). The Circular takes effect from 23rd January 2020, and is applied to all customs declaration registered from then until further notice.

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Mazars in Vietnam Newsletter - Issue May 2020

We would like to bring you tax and legal updates for May 2020 with the following highlights influencing the corporate operations and payroll activities:

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Mazars Vietnam Newsletter - Issue April 2020

We would like to bring you tax and legal updates for April 2020 with the following highlights influencing the corporate operations:

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Covid-19 - Business Impact & Vietnam's solutions

Due to swift and complicated developments of the COVID-19 pandemic, the Vietnamese Government has imposed numerous drastic measures and restrictions on personal movement to limit interpersonal contact and minimize the spread of the virus.

Download pdf 556.64 kB

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Alert - Extension of deadline for tax payment

On 08th April 2020, the Government had released Decree 41/2020/ND-CP on extending the deadline of tax and land rental fee payment for the enterprises, individuals and business households (“Tax payers”) that are affected by COVID-19.

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Alert - Administrative violations in Labor field

On 1st March 2020, the Government of Vietnam had promulgated Decree No. 28/2020/ND-CP ("Decree 28") replacing Decree No. 95/2013/ND-CP dated 22nd August 2013 and Decree No. 88/2015/ND-CP dated 7th October 2015 on penalties for administrative violations in the field of labor, social insurance and oversea manpower supply by contract.

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Impact of COVID-19 on Entry and Work permits

Due to swift and complicated developments of the COVID-19 pandemic, the Vietnamese Government has imposed numerous drastic measures and restrictions on personal movement to limit interpersonal contact and minimize the spread of the virus.

Download pdf 1.32 MB

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Mazars Vietnam Newsletter - Issue March 2020

We would like to bring you tax and legal updates for March 2020 with the following highlights influencing the corporate operations:

Latest Publications

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Beyond the GAAP - No.146 - July & August 2020

Unsurprisingly, the financial statements at 30 June 2020 that have been published to date reflect the significant impact of the COVID-19 crisis on companies’ financial positions. Given that the outlook for the second half of 2020 is still uncertain in many cases, issuers in particular will (unfortunately) need to draw once again on the guidance from standard-setters, regulators and the accounting profession issued to deal with the consequences of the crisis on the financial information.

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Responsible banking practices study 2020

With Environmental, Social and Governance factors, and responsible banking practices more broadly becoming an essential focus for the banking industry, Mazars has assessed how banks are embedding sustainability into their commercial practices.

Download pdf 601.85 kB

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Beyond the GAAP - No.145 - June 2020

In contrast to the three previous issues, Beyond the GAAP is back to its traditional format this month, with no COVID-19 supplement. Things are getting back to normal as regards accountancy news, although it is expected that further statements will be published locally for instance on the consequences of the crisis on accounting for State-guaranteed loans in France. In this issue, Beyond the GAAP sets out the most recent agenda decisions published by the IFRS Interpretations Committee. While the final agenda decisions reached in June are unlikely to have any major impact on preparers, the ongoing discussions on reverse factoring constitute a trickier issue. However, at this stage of the due process, the Committee is not planning to amend existing IFRSs. Stakeholders have until 30 September to respond to this tentative agenda decision.

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Beyond the GAAP - No.144 - May 2020

There is no doubt that the preparation of the 2020 interim accounts will be particularly difficult this year. Properly reflecting the impact of the COVID-19 crisis in the financial statements is certain to be the main subject of concern. Once again, this month’s COVID-19 supplement summarises the current issues to be taken into account, in particular the ESMA press release for listed entities.

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Beyond the GAAP - No.143 - April 2020

As the COVID-19 epidemic continues to disrupt business, with significant impacts expected on 2020 financial statements, various stakeholders (most especially standard-setters) are working hard to respond to this unprecedented crisis (cf. issue no. 2 of our COVID-19 supplement).

How banks are responding to the financial risks of climate change

Banks’ response to climate change risk

With sustainable finance expecting to be a crucial factor in the economic recovery in response to Covid-19 and regulators still encouraging banks to actively embed climate-related risks in their business operations and risk management frameworks, Mazars has analysed how 30 of the largest banks worldwide have been handling climate-related financial risks.

Download pdf 3.48 MB

Webinar Apr 21 - 1

Beyond the GAAP - No.142 - March 2020

Our last editorial touched, without wanting to believe it, on the wide repercussions we could expect from the coronavirus outbreak.

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Beyond the GAAP - No.141 - February 2020

Following the announcement of the first results for 2019 in February, companies that have not yet closed their accounts need to consider the potential implications of the current coronavirus epidemic for the disclosures required in the notes on events after the reporting period in accordance with IAS 10, as some market regulators have just recalled.

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CEE View: Inbound M&A report 2019/2020

The M&A market in Central and Eastern Europe (CEE) had a robust 2019 year, displaying resilience in the face of global economic headwinds, according to new research from Mazars in association with Mergermarket. The report, Investing in CEE: Inbound M&A Report 2019/2020, offers an overview of inbound M&A activity in the CEE region throughout 2019 and looks ahead to the opportunities and challenges in the coming months.

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PIT Compliance Service Brochure

Mazars would help you with our professional payroll outsourcing services, by managing your human resources with the dedication of experienced teams. We know how key your people are to the success of your organization and how complicate it can be to follow-up and ensure the right decisions are made in a highly changing environment.

Download pdf 2.63 MB

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Tackling climate change: Mazars – OMFIF report

Mazars and the Official Monetary and Financial Institutions Forum (OMFIF) are proud to have come together to produce a global report providing unique insight on current and upcoming financial regulatory evolutions aimed at tackling climate change. What policy adjustments are being undertaken in different jurisdictions around the world to assess and control climate risks? How are these actions likely to develop in future? Find out in our new research and get ready for radical regulatory change.

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Beyond the GAAP - No.140 - January 2020

The year 2019 drew to a close with the publication of an exposure draft proposing significant changes to the presentation of IFRS financial statements, particularly the statement of comprehensive income. Consultations will continue in the new year, with many projects listed in the IASB’s work plan.

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Striking the balance: 2018-2019 Annual Report

Looking to 2020, we see a bright future and many exciting prospects, but we know our stakeholders operate in testing times. That is why finding and maintaining the right balance resonates more than ever. With our 2019 Yearbook, we take the opportunity to reaffirm our commitment to accompanying our clients’ development, helping them navigate the complex environments in which they operate and grow in a sustainable way.

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Beyond the GAAP - No.138 - November 2019

As 2019 draws to a close, we present our usual overview of applicable standards and interpretations, with IFRS 16 – Leases obviously being the key new standard for this year.

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Beyond the GAAP - No.137 - October 2019

As the end of the year approaches, we’ve reached the time when European enforcers publish their recommendations for year-end financial reporting.

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Mazars’ Newsletter On Accounting Standards

September saw the publication of two long-awaited decisions by the IFRS Interpretations Committee. This, therefore, seemed the ideal time to present our study of information on the impacts of initial application of IFRIC 23.

Download pdf 226.56 kB

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Beyond the GAAP - No.139 - December 2019

As the 2019 financial statements are finalised, the first-time application of IFRS 16 will have kept stakeholders on their toes right up to the last minute. This is because the IFRS Interpretations Committee did not officially clarify until 16 December how the term of certain leases should be determined.

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Doing Business guide in Vietnam 2019 - 2020

“Doing business in Vietnam 2019 - 2020” published by Mazars Vietnam is a part of our continuous attempt to create shared values along the journey of 25 years.

Download pdf 3.83 MB

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Reinsurers’ Financial Communication (Part 1)

As the role of reinsurance is continuously expanding, Mazars has analysed the latest financial disclosures of the top 10 reinsurers worldwide providing a comparative view for a better understanding of their risk profile and strategy.

Download pdf 1.18 MB

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Beyond the GAAP No.135 - Jul & Aug 2019

Following the summer break, IAS 12 – Income Taxes and IFRS 17 – Insurance Contracts are in the spotlight, with consultations on both from the IASB as well as a detailed Public Statement from ESMA, the European enforcer, on the former.