Weekly News Bulletin

Every Monday, we would like to release our Weekly News Bulletin, which includes the latest financial and business articles on macro-economic, investment, banking, and finance, that may assist enterprises in running their operations in Vietnam

News Bulletin 14 - Week 3 May, 2020

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Although the Vietnamese economy has reopened in practically all sectors, the true impact of Covid-19 on the economy is still being assessed and the complete picture will not be known for a while. Meanwhile the Vietnamese government is doing all it can to help enterprises get back to normal with the resumption of key economic sectors' activities such as manufacturing, services and retail being key industries. Noticeably, during the past week, proposal from the State President for ratifying the EU-Vietnam Investment Protection Agreement (EVIPA) was submitted to the National Assembly (NA), the ratification of which will replace the 21 existing investment encouragement and protection agreements between Vietnam and EU member countries.

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News Bulletin 13 - Week 2 May, 2020

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While the ongoing pandemic is taking a severe human and economic toll worldwide, economic recovery in Vietnam has restarted in earnest, with support from a variety of government policies. Last week, the Vietnamese Government released Resolution No. 68/NQ-CP relating to cutting or simplifying at least 20 per cent of the current regulations on business through 2025.

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News Bulletin 12 - Week 1 May, 2020

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With the economy in Vietnam now restarting after Covid-19 related restrictions were lifted, attention is now turned to economic recovery and growth. The Vietnamese government last week adjusted its GDP growth for 2020, down from the original target of over 7% for the year. Despite the lowered GDP target, if Vietnam is able to hit the new target, it will be one of very few countries in the region, if not the world, to achieve such growth in 2020. At the beginning of May, the World Bank said in its Vietnam Macro Monitoring report that, despite Vietnam being battered by the coronavirus pandemic, there are signs of speedy recovery in the post-coronavirus period.

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News Bulletin 11 - Week 5 April, 2020

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Vietnam has effectively loosen its restrictions relating to Covid-19 and have restarted its economy during the past week. Vietnam has introduced a number of measures to help businesses overcome Covid-19 challenges. Understandably, small and medium size businesses continue to request tax reductions to help them continue their operations, but in the past week the Ministry of Finance rejected several proposals to reduce taxes to help revive production and trade and support businesses affected by Covid-19. The reasons for the rejection of the tax reduction proposals and other business headlines during the past week are listed below.

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News Bulletin 10 - Week 4 April, 2020

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According to a recent survey result for 15 countries and territories around the world, Vietnamese are the most optimistic about a post Covid-19 recovery, with 80 percent believing the economy will recover quickly. The proof is that Vietnam businesses and government doggedly fought the Covid-19 pandemic impacts by allowing limited business continuation and also imposing measures to restrict the spread of the Covid-19 pandemic. During the past week, the Vietnamese government proposed a number of tax policies to help business affected by the pandemic.

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News Bulletin 09 - Week 3 April, 2020

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Amidst the complicated developments of the Covid-19 pandemic, governments and businesses are struggling to adapt and maintain business as usual, taking measures to limit negative impact and curb the spread of the virus. Noticeably, the past week, the Ministry of Finance has proposed exemptions of import tax for raw materials, supplies and components for processing and manufacturing export products.

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News Bulletin 08 - Week 2 April, 2020

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The Covid-19 pandemic continues to rage around the world while in Vietnam the number of new infections have slowed to a trickle the past few days. Vietnam is continuing into its second week of near country wide lockdown and social distancing requirements. The government continues to roll out additional guidelines to help businesses struggling from the pandemic. Specifically, this week, the Prime Minister approved the extension of deadlines for tax and land use fee payments to support businesses.

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News Bulletin 07 - Week 1 April, 2020

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The Vietnamese government has started applying stricter measures in its ongoing management of the Covid 19 pandemic by implementing nationwide social distancing rules. While the pandemic continues to capture headlines, in other news Vietnam did receive great news in the past week that the European Council has approved the signing of the free trade agreement between the E.U. and Vietnam. The approval is the final step from EU for the EVFTA to become effective.

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News Bulletin 06 - Week 4 March, 2020

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Although the COVID-19 crisis is deepening globally, Vietnam continues to manage the economy as best possible. Vietnam’s now integrated economy with the world ensures that Vietnam also felt the stock market meltdown and reduced trade and investments with other countries during the first quarter of 2020.

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News Bulletin 05 - Week 3 March, 2020

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As Vietnam continues to deal with the economic impact of Covid-19, other business and economic news other economic and business news are also making headlines. This week's bulletin includes Vietnam jumping 23 places in the economic freedom index and the changes in roadmap for adopting IFRS in Vietnam as Ministry makes adopting the international accounting standards compulsory after 2025.

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Latest Vietnam Tax and Legal Updates

Newsletter-Apr

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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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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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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Tax Alert - New regulations in Labour Code 2019

On 20th November 2019, the National Assembly of Vietnam has adopted the Labor Code 2019 which shall come into force as from 1st January 2021 and replace the current Labor Code 2012. Below is summary of the most notable points of this new Labor Code.

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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:

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Alert - Impact of COVID-19 on Labour Relation

As businesses continue to navigate and adapt to the Covid-19 epidemic, many are asking how best to manage their labour force as businesses are inevitably slowing for most. Mazars Vietnam has compiled a list of frequently asked questions relating to labor issues below:

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Mazars Vietnam Newsletter - Issue February 2020

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

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Alert - Impact of COVID-19 on Labour Relation

As businesses continue to navigate and adapt to the Covid-19 epidemic, many are asking how best to manage their labour force as businesses are inevitably slowing for most. Mazars Vietnam has compiled a list of frequently asked questions relating to labor issues below:

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Mazars Vietnam Newsletter - Issue February 2020

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

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Mazars Vietnam Newsletter - Issue December 2019

We would like to bring you tax and legal updates in December 2019 with the following highlights influencing the corporate operations:

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Tax Labour Calendar 2020

For the upcoming 2020, we are delighted to offer this “Compliance Calendar 2020” in English and Vietnamese with the hope to help enterprises not missing any important deadlines. The issues include periodic requirements of tax and labour compliance as stipulated in the latest legal documents. Any non-compliance will possibly subject to administrative penalties under prescribed laws and regulations. Please kindly find the bilingual calendar in the Downloads section below and let us know if you have any questions about the deadlines or would like assistance in meeting them.

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Tax Alert - New regulations in Labour Code 2019

On 20th November 2019, the National Assembly of Vietnam has adopted the Labor Code 2019 which shall come into force as from 1st January 2021 and replace the current Labor Code 2012. Below is summary of the most notable points of this new Labor Code.

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Tax Alert - Circular 68/2019/TT-BTC

On September 30th, 2019, the Ministry of Finance issued Circular 68/2019/TT-BTC ("Circular 68") guiding the implementation of Decree No. 119/2018 / ND-CP (Decree 119 ") on the electronic invoice (e-invoice) when selling goods and providing services with notable points as below:

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Mazars Vietnam Newsletter - Issue November 2019

We would like to bring you tax and legal updates in November 2019 with the following highlights influencing the corporate operations:

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Mazars Vietnam Newsletter - Issue October 2019

We would like to bring you tax and legal updates in September 2019 with the following highlights influencing the corporate operations:

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Tax Alert - Circular 68/2019/TT-BTC

On September 30th, 2019, the Ministry of Finance issued Circular 68/2019/TT-BTC ("Circular 68") guiding the implementation of Decree No. 119/2018 / ND-CP (Decree 119 ") on the electronic invoice (e-invoice) when selling goods and providing services with notable points as below:

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Mazars Vietnam Newsletter - Issue May 2019

We would like to bring you tax and legal updates in May 2019 with the following highlights influencing the corporate operations:

Latest Publications

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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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.

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Beyond the GAAP No.134 - June 2019

The half-yearly financial statements stand between you and your well-earned summer break, so it may be worth taking a look at the IFRS IC’s agenda decisions on IFRS 15, IFRS 16 and cryptocurrencies. After that, you could take our crossword away with you - a light-hearted edition that brings the series to a close.

CEE View: Inbound M&A report 2018/2019 - Download

Mazars is pleased to present the CEE View: Inbound M&A report 2018/2019, in collaboration with Mergermarket. This new report offers an overview of the mergers and acquisitions activity in 2018 within and into the Central & Eastern European (CEE) region, and looks ahead to the challenges and opportunities for the next couple of months.

Download pdf 6.14 MB

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CEE View: Inbound M&A report 2018/2019

Mazars is pleased to present the CEE View: Inbound M&A report 2018/2019, in collaboration with Mergermarket. This new report offers an overview of the mergers and acquisitions activity in 2018 within and into the Central & Eastern European (CEE) region, and looks ahead to the challenges and opportunities for the next couple of months.

Brochure 2019

Mazars Vietnam Brochure 2019

The new brochure of Mazars in Vietnam has been released. This brochure presents our capabilities in Vietnam.

Download pdf 4.56 MB

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Creating Shared Value(s) 2017-2018 Annual Report

With our 2018 Yearbook, part of our 2017-2018 Group Annual Report, we take a step back and reflect on our international development and growth.

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Doing Business in Vietnam 2018

Mazars in Vietnam present its updated guide for anyone looking to do business in Vietnam with the latest developments in investment incentives, business structures available to foreigners, tax, labour and foreign exchange controls as well as general information about Vietnam and its economy.

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Mazars Vietnam Brochure 2018

The new brochure of Mazars in Vietnam has been released. This brochure presents our capabilities in Vietnam.

Download pdf 4.90 MB