Featured article - Vietnam Investment Review: Utilisation of EVFTA requires strict clarity
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.
According to Mr. Deschamps: "The obvious benefit of the trade deal between the EU and Vietnam will be the elimination of virtually all tariffs by both sides during the next 10 years. While the EVFTA will bring opportunities, there are also challenges that Vietnam needs to be prepared for. New entrants into the Vietnamese market will require local companies to raise the quality of their products and services to remain competitive. Local companies that do not restructure or innovate will be left behind and lose their market share. European companies will also be looking for more skilled workers and managers, whereas these human resources are still lacking in Vietnam.
While we are now an international firm, Mazars’ origin started in France, so we are very excited about Vietnam’s trade deal with Europe. We already serve many Europe-based clients in Vietnam, and we look forward to serving even more when new European investors enter the Vietnamese market. We believe the ratification of the EVFTA and the inevitable increase in European investment in Vietnam will open many opportunities for Mazars. We are confident and well-positioned to assist our current clients in Europe that will be entering the Vietnamese market for the first time."
Read full article here
Tax & Legal Newsletter
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
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:
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.