Tax Authority Alerts Businesses to New Policy

Key pointsVietnam's tax authority has issued a warning to businesses regarding a new tax policy set to take effect in 2026. This includes essential information that businesses need to be aware of, with expectations for strengthened tax management.
Business impactThe introduction of the new tax policy will have a direct impact on tax management for Japanese companies, necessitating that each company fully understands the new policy and prepares appropriate responses.

Key pointsJapan's Nissha acquired 60% of Vietnamese medical device manufacturer USM Healthcare but decided to sell all shares just three months later due to issues with USM's accounting practices, particularly the discovery of 'transaction circularity.' Nissha stated that the problems emerged after the integration of USM's management, leading to their exit. The founder of USM is set to buy back shares and intends to regain control of the company.
Business impactJapanese companies must conduct thorough due diligence before M&A transactions, particularly ensuring transparency in accounting practices and management policies. This can help mitigate risks and increase the likelihood of investment success.

Key pointsAt a conference held in Hanoi, Deputy Minister of Finance Nguyen Duc Chi emphasized the importance of improving the quality of corporate governance and ensuring transparency in the securities market. He stated that the reliability of corporate financial reporting and information transparency are crucial for enhancing market credibility.
Business impactJapanese companies need to focus on the development of a legal framework aimed at improving transparency and implement appropriate governance to gain investor trust.

Key pointsIn August 2026, the HNX stock market experienced a decline in stock prices, with liquidity decreasing by 31%. The HNX index fell to 282.53 points, a 4.16% decrease from the previous month. Meanwhile, foreign investors were net buyers, particularly with a surge in Vin Group stocks. Overall market trends are influencing investor sentiment.
Business impactJapanese companies need to monitor foreign investor trends and develop strategies responsive to changes in the stock market. Notably, the decrease in liquidity may impact investment decisions.

Key pointsVietjet has opened a new direct flight to Moscow, leveraging the potential of the Russian market. This is expected to enhance connections between Vietnam and international destinations, promoting tourism and economic activities. Vietjet currently operates 22 routes and has transported 403,750 passengers, with plans for further expansion to new destinations including Moscow.
Business impactJapanese companies have the opportunity to strengthen access to the Russian market through Vietjet's new route, particularly in tourism and trade, fostering deeper relations with Russia.

Key pointsThe People's Committee of Ho Chi Minh City has fined Sơn Kim Land for failing to report the sale of 136 apartments to foreigners in the Gateway Thảo Điền project. The company did not fulfill its obligation to notify the construction department via email and documents, leading to the penalty. Payment of the fine must be made within 10 days of receiving the notification. The project, launched in 2015, is positioned as a luxury property with 439 apartments.
Business impactThis case highlights the strict regulations regarding real estate sales to foreigners, indicating that compliance with laws is particularly important for Japanese companies operating in Vietnam. Specifically, the risk of fines for neglecting reporting obligations necessitates a review of relevant regulations by legal departments.

Key pointsIf the US 10-year Treasury yield exceeds 4.8%, there may be pressure for capital outflows from Vietnam's economy and stock market. The Vietnamese economy is particularly sensitive to foreign investment trends, raising concerns about the spillover effects on the stock market. With the FTSE upgrade pending, there is a tug-of-war over the scenario of medium-term investment inflows.
Business impactFor Japanese companies, the trends in US interest rates are crucial as they affect costs and financing, necessitating particular attention. Fluctuations in exchange rates and interest rates could have direct impacts.

Key pointsIn the first eight months of 2026, Vietnam welcomed over 1 million tourists from Russia, marking a 165.7% increase. Russia is also considering visa exemptions for Vietnamese tourists, and the expansion of flight routes between the two countries is underway, which is expected to further boost the tourism industry. The number of Russian tourists is projected to reach 1.5 million by 2026, up from the pre-COVID annual figure of 700,000 to 800,000. Cultural exchanges are also advancing, with 2026 designated as the year of scientific and educational cooperation, featuring numerous events in both countries.
Business impactJapanese companies need to capitalize on the growth of the tourism sector by seizing travel-related business opportunities. In particular, airlines and travel agencies should strengthen their approach to the Russian market and diversify their tourism packages.

Key pointsA company that was once part of the GVR ecosystem was listed on UPCoM in 2015 but is now facing delisting as all employees have resigned. GVR sold nearly all its shares in 2016.
Business impactThe situation of this company highlights the need for GVR-affected companies to reassess their management strategies, and it is crucial for Japanese firms to verify the stability of their business partners.

Key pointsThe number of companies delisted from the Tokyo Stock Exchange is expected to reach a record high for three consecutive years by 2026. This trend is attributed to increased privatization through partnerships with investment funds and a rise in companies failing to meet new listing standards. This provides insights for capital market reforms in Vietnam's economy.
Business impactFor Japanese companies, the tightening of TSE standards may prompt a review of capital policies. In particular, companies opting for privatization may consider selling or restructuring their operations in Vietnam, necessitating caution.

Key pointsOn September 8, 2026, the Ministry of Finance proposed to lower the duty-free allowance for the import and export of small goods to 100,000 VND in response to the rapid increase in e-commerce. This change is expected to particularly impact the international e-commerce and logistics sectors. Currently, the duty-free allowance varies by product, leading to imbalances, especially in the handling of small goods using postal services.
Business impactJapanese companies need to quickly adapt to tax changes as e-commerce expands. Sectors involved in logistics and trade are required to reassess their strategies considering the new duty-free standards.

Key pointsOn September 8, 2026, the Ministry of Finance held a dialogue in Hanoi to discuss measures to enhance investment cooperation between Vietnam and the EU. The EU has invested in 30 provinces and cities, registering approximately 33.3 billion USD across 2,836 projects, with a significant focus on the manufacturing sector, establishing Vietnam as an important economic partner for the EU. Both parties aim to improve their investment environments and promote high-quality investments.
Business impactFor Japanese companies, strengthening investment cooperation with the EU presents new business opportunities. Companies interested in manufacturing and technological innovation need to closely monitor EU investment trends to enhance their competitiveness in the Vietnamese market.