Featured Insights
Read the latest publications, technical updates and thought leadership articles from KPMG.

Thought Leadership

Our publications to help business leaders across various sectors to develop a deeper understanding of the local and global economy.

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*New article*
2022 Global Family Business Report by STEP Project Global Consortium and KPMG Private Enterprise

Family businesses are a major contributor in various nations, including Vietnam. These enterprises are unique, thanks to the intertwining of the family and the business. 

KPMG Private Enterprise and the Successful Transgenerational Entrepreneurship Practices (STEP) Project Global Consortium study 2439 family business leaders from 70 countries and territories to map out their key to stay in power and step ahead of the competition.

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*New article*
2021 Vietnam CFO Survey Report

With insight from nearly 70 Finance Leaders and C-Levels from a wide sample of businesses, KPMG’s 2021 CFO Survey defines where Finance in firms in Vietnam currently stands, its opportunities, threats, expectations and the direction of its growth. Our findings converge, indicating ample development potential for businesses in Vietnam as a whole and their Finance in particular. All signs point to digital transformation and data-enabled people as the key to success for the finance function and at the heart of it all are CFOs, digitally adept and ready to lead the forthcoming changes. But to do that, CFOs in Vietnam will need to evolve with the help of their organizations.

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*New article*
Vietnam Customer Experience Excellence Report 2021

Having gone through the COVID-19 pandemic, citizens around the globe, including Vietnam, have adopted a new-normal lifestyle. As a result, businesses need to adjust their approach to consumers. Check out our latest report to see how companies have performed during the upheaval and gain insights on the supply chain domain.

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*New article*
OECD/G20 Inclusive Framework Agreement on BEPS 2.0  -   October 2021 Update  

On 8 October 2021 the Inclusive Framework (IF) on Base Erosion and Profit Shifting released details of an agreement which refines the statement of 1 July 2021. In terms of consensus, 136 of the 140 Inclusive Framework countries have agreed to this release.  Learn more about the latest October update of the agreement in this article.

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*New article*
Quick reversals expected as the  new normal gradually replaces lockdown gloom  

As the pandemic situation begins to look up, a sense of revival in business confidence can be observed.  Warrick Cleine, Chairman and CEO at KPMG in Vietnam, shares his insight on this topic and the changes to expect in this rebound.
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*Popular*
KPMG 2021 CEO Outlook


Optimism is back in the boardroom. It’s been about 18 months since the World Health Organization declared a global pandemic, and the latest edition of our CEO Outlook survey gauges how leadership strategies and concerns have shifted during these demanding times. 
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*Popular*
IFRS - Is it the responsibility of only accountants? (VN article)

The difference between VAS and IFRS is expanding and creating numerous conflicts for companies. What are the benefits of IFRS adoption and what is the framework in Vietnam?

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The OnDemand Economy: Are You A Part of It?

The on-demand economy is accelerating the speed of  transformation all over the world. What is it and how have businesses adapted to the emerging market demands?

Concentrating on the practical, up-to-date guidance on financial reporting and legal requirements for your consideration.

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Technical Update - Legal Update 

Our legal update would cover the following matters:

New Law amending a number of laws including, but not limited to, Law on Investment, Law on Electricity and Law on Enterprises

New regulations on management of e-commerce websites and e-commerce activities via mobile applications in cellphone devices

(VN Version)

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Tax Alert - Draft decree amending Decree 126/2020/ND-CP and Decree 123/2020/ND-CP 

In order to create favorable conditions for tax declaration and remove difficulties in paying provisional Corporate Income Tax (“CIT”), the Ministry of Finance has prepared a draft Decree to submit to the Government which amends and supplements a number of articles of Decree 126/2020/ND-CP and Decree 123/2020/ND-CP. Notably, the Draft Decree proposes that the provisional CIT payment for the four quarters of a taxpayer must not be less than 80% of the total CIT liability of the annual CIT finalization. Currently, Decree 126/2020 requires the provisional CIT for the first three quarters to account for at least 75% of the annual CIT liability.

(VN Version)

Alert on immigration February 2022 

The recent relaxation in entry permit, visa and quarantine regulations for foreigners entering Vietnam is promising and should result in increasing mobility for business travelers, investors and those coming to work longer term in Vietnam. However, when COVID-19 is well controlled, some regulations which were issued to support businesses and foreigners during the COVID-19 pandemic may be removed and the immigration requirements for foreigners revert back to pre-pandemic norm. This in-turn may cause issues for businesses to recruit and maintain a suitable foreign labour force in Vietnam.

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Tax Alert January 2022 

Following the Resolution No. 43/2022/QH15, on 28 January 2022, the Government issued Decree 15/2022/ND-CP guiding the implementation of the tax relief measures relating to the VAT reduction and CIT deductibility for Covid-19 donation and sponsorship expenses. Accordingly, the VAT for the goods and services which are currently subject to the rate of 10% to 8%, applicable from 1 February 2022 to 31 December 2022.

(VN Version)

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Technical Update January 2022 

KPMG would like to share the very recent update on legal legislation for your reference. Our legal update would cover the following matters:

New regulations on the business of electronic gaming with prizes for foreigners

New regulations on penalties for administrative offences in planning and investment sector

New regulations on working hours and resting hours applicable to employees doing seasonal production work and processing works under orders 

(VN Version)

Alert on removal of entry permit requirement for foreigners

On 18 January 2022, Standing Deputy Prime Minister Pham Binh Minh approved to remove entry permit requirement for foreigners and Vietnamese overseas, who already have valid permanent cards, visa, temporary resident cards or visa exemption. Please refer to our Alert on the Official letter 405/VPCP-QHQT for more information on the cease of entry permit. 

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Tax Alert December 2021 

The General Department of Taxation (“GDT”) issued the Official Letter No. 4110 dated October 27, 2021 on  the tax treatment related to Covid-19 expenses (“OL 4110”).  According to OL4110, the GDT lists out a  number of expense items that shall not be taken into account for PIT calculation of the employees whilst  being deductible for Corporate Income Tax (“CIT”) if the expenses are incurred and are supported by  legitimate supporting documents,

(VN Version)
       
 

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GMS Flash Alert December 2021 

On 14th December 2021, the Social Insurance Agreement (“the SIA”) between Vietnam and Korea was  signed by the Minister of Labour, War Invalids and Social Affairs (Vietnam) and the Minister of Health and  Welfare (Korea) on behalf of the Governments of the two countries. 

(VN Version)

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Legal Alert December 2021 

According to Decree No. 07/2016/ND-CP dated 25th January 2016 of the Government (“Decree 07”) guiding  the Commercial Law on representative offices of foreign entities (“RO”) in Vietnam, ROs are required to  submit an annual operation report (“Annual Report”) to the provincial Department of Industry and Trade  no later than 30th January of the following year. 

(VN Version)
       
 

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Technical Update November 2021 

On 8 November 2021, the Government enacted Decree No. 98/2021/ND-CP on management of medical  devices (“Decree 98”). Decree 98 will come into effect on 1 January 2022 and replace Decree No. 36/2016/ ND-CP dated 15 May 2016 (amended by Decree No. 169/2018/ND-CP and Decree No. 03/2020/ND-CP)  (“Decree 36”).  

( VN Version)          

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Tax Alert November 2021 

The Draft Decree      amending Decree 111 (Decree guiding the development of supporting industries ("SI")) with the aim to clarify some regulations on determination of SI incentives, expanding the list of SI products, and also adding more criteria for permission of SI incentive.       

(  VN Version)          

Vietnam at a glance

Overview of key  economic trends and  financial regulations that influence the landscape in Vietnam.

IFRS Academy

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*New*  IFRS Academy

SSC collaborates with KPMG to organize IFRS training program  (VN article)

KPMG Vietnam and the State Securities Commission (SSC) join forces to provide IFRS training to staff members from SSC, Hanoi Stock Exchange and Ho Chi Minh Stock Exchange to catch up with the application of IFRS.

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*New*    IFRS Academy

Part 2: Infrastructure development contract - reality and solutions (VN article)

As explained in the previous article,   accounting infrastructure development contracts in Vietnam faces various issues related to intangible assets, depreciation of fixed assets and interest expenses. IFRIC 12 can suggest the solution.

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*New*  IFRS Academy

Part 1: Infrastructure development contract - reality and solutions (VN article)

The adoption of  International Financial Reporting Standards ( IFRS) may offer effective solution to unresolved issues in accounting infrastructure development contracts in Vietnam. 

Macroenvironment & Statistics

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Vietnam Investment Handbook 2021

In general, Vietnam promulgates a principle to treat local and foreign investor equally. However, at national privilege, Vietnam still restricts market entry of foreign investment in some...

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Invest in Vietnam: 2021 edition

Recent years observed the international economic integration through the participation into many free trade agreements/ communities such as the WTO, CPTPP, EVFTA, and UK-Vietnam FTA...

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Make in Vietnam: 2021 edition

As one of few economies in ASEAN and globally to achieve positive growth despite the COVID-19 pandemic, Vietnam’s GDP is estimated to have grown at 2.91% in 2020...

Sector & Industry

2021 Vietnam M&A at a glance

Countries around the world witnessed negative GDP growth in 2020 and are still suffering from the lasting impact presented by the pandemic. Amid this challenging period, Vietnam has emerged as a rising star by keeping the economy growing, albeit at a slower... 


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Vietnam Supply Chain at a glance 

The supply chain practice of the past will no longer be sufficient to support the future marketplace in an optimal way.  This survey report will provide insights about the supply chains in Vietnam, in terms of ‘Where we are' to 'Where to go next' and 'How to go’.

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Cash and Working Capital Trends in Vietnam 2021

The COVID-19 pandemic may mean that common working capital warning signs flare up earlier. Companies should monitor internal metrics and business partner performance for red flags, and prepare a list of contingency options....

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Approach to SWIFT Security Assessment

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send/receive...

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Future of Digital Health in Vietnam

Over the past two decades, Vietnam has achieved laudable improvements in key quality of life metrics such as life expectancy, infant mortality, and access to affordable medicines...

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Customer Experience in the New Reality

In recent years, customer experience has become one of the key factors for a company’s success. More companies in Vietnam have realized the importance of customer experience... 

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Leveraging infrastructure investments for economic growth

The infrastructure sector has been an unsung hero of the COVID-19 crisis. Despite the complete disruption to how our economies operate and how we live our lives... 

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IFRS 9 for Banks

The IFRS Roadmap in Vietnam was officially announced in Decision No.345/QD-BTC on 16 March 2020 by the Ministry of Finance (MoF), a year after introduction of the draft version. Against the mandate by the MoF...

Updating the latest tax audit trends and changes in 2021. 

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Tax Audit Support webinar    

Presenting tax audit plan and trends in 2021, common issues focused by authorities and tax audit in transfer pricing as well as addressing several specific business concerns.  

(  VN version)

Our slides from the 2020 Tax and Legal Institute

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Macroeconomics and Tax Landscape

Presenter(s):
Mr Warrick Cleine
Chairman & CEO  

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Tax Policies Development & Practical Sharing

Presenter(s):
Ms Le Thi Kieu Nga
Partner, Corporate Tax
Mr Ta Hong Thai
Partner, Corporate Tax 

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Tax Audit & Dispute Issues

Presenter(s):
Ms Nguyen Thu Huong
Partner, Tax Dispute & Controversy  

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Legal Updates

Presenter(s):
Mr Nguyen Thanh Hoa
Partner, Legal Services  

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Global Mobility Services

Presenter(s):
Ms Andrea Godfrey
Partner, Global Mobility Services  

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Trade & Customs, Transfer Pricing Updates 

Presenter(s):
Mr Hoang Thuy Duong
Partner, Integrated International Tax
Mr Joseph Vu 
Partner, Integrated International Tax