Taxation

Our Tax practice group members are experts in corporate and commercial law and provide our clients with commercially relevant, practically sound, and sustainable tax solutions. We draw from international and local, corporate and commercial, specialist taxation knowledge, as well as in-house tax consultancy experience. The complexity of deals in emerging industry sectors and the varied interests of our clients across many areas and jurisdictions are of extreme significance in this practice area and wherever possible, we collaborate with team members from other practice groups to provide the most comprehensive advice for our clients. Our team regularly advises on Vietnam tax implications for foreign companies investing in and operating in Vietnam.

A sampling of our highlight matters in this area includes:

• Advising a global technology/ e-commerce giant in relation to the potential tax liabilities in relation to numerous transactions among their affiliates in Vietnam and outside Vietnam for the provision of cloud services to Vietnamese customers.
• Reviewing a proposed tax structure with respect to the payment of remuneration and reimbursement of expenses for employees of a leading education company when working in Vietnam.
• Acting for our client in relation to the acquisition of a manufacturing factory. We have assessed the tax implications of the deal structure which comprises a transfer of equity and an assignment of existing loans and advised and prepared the documents for the purpose of declaring capital gain tax for the seller in this deal. 
• Acting on an ongoing basis for a Thai industrial manufacturing company in relation to its tax matters in Vietnam, particularly in relation to corporate income tax and indirect tax treatment on its various business activities.
• Acting for an American multinational hospitality company to provide it with detailed Vietnam law advice in relation to executive remuneration packages and tax liabilities and procedural obligations. 
• Advising a global insurance broking and risk management firm in relation to its merger with a British multinational insurance corporation, in which we advised our client on capital gains tax, as well as tax procedures upon the Merger such as the declaration of corporate income tax, invalidation of the tax code, the loss carry forward and the transfer of assets.
• Acting as Vietnam counsel to a leading cold storage company in all aspects of its divestment of the entirety of its shareholding stake in its Australian entity, in which we identified, managed, and rectified various tax issues and tax disclosure relating to VAT returns due to the termination of land use rights and assets attached to the land with respect to the return of a project using land, and other issues with respect to capital gains tax applicable to an offshore deal. Specifically, Frasers prepared the disclosure of tax compliance and tax issues with respect to Corporate Income Tax, Value Added Tax, and Personal Income Tax. 
• Providing our client with detailed tax advice in relation to the potential tax risk exposures under the various settlement structuring options, including in relation to the effect of the Japan – Vietnam Double Taxation Avoidance Treaty.
• Providing advice and assistance in relation to Vietnam tax law and its interpretation and application to one of the largest alcoholic spirits companies. We have added significant value to our client by devising and proposing lawful models for managing tax exposure in connection with the importation and distribution of alcoholic beverage products in Vietnam, including in relation to Special Consumption Tax and importation duties.
• Advising a leading renewable energy developer on tax structuring, with a view to ensuring lawful tax exposure management across a complex multi-jurisdictional structure. We have successfully managed to devise a lawful investment structure that manages the tax exposure of the Vietnam operating companies and the Singapore joint venture investment company to a highly satisfactory degree.