Phung Thi Ngoc Anh

Senior Director
20 years of professional experience as a tax advisor in Vietnam and the U.S.
Expertise in cross-border holding and financial investment structuring, M&A transactions, operational effectiveness compliance and tax audit navigation
Focus on financial services, real estate, automotive and retail sectors
Ho Chi Minh City
@alvarezmarsal
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Phung Thi Ngoc Anh is a Senior Director with Alvarez & Marsal Tax Vietnam in Ho Chi Minh City. She has been a professional tax advisor for nearly 20 years in Vietnam and one year in the U.S.

With 20 years of experience as a tax professional, Ms. Ngoc Anh has been advising investors and corporations across industries with investment, both inbound and outbound of Vietnam, on structuring their investment and business operation, performing tax due diligence, setting up tax compliance and enhancing tax functions of corporations. She has handled various tax disputes and assisted clients in achieving effective tax resolutions. Her career determination is to become a trusted advisor and business partner.

Additionally, with the recent developments in the tax and insurance business laws and evolving audit environment in Vietnam, Ms. Ngoc Anh has worked extensively with various international insurer clients to navigate through recent complex developments/changes in the law applications and audit situations and further help clients’ processes and workflows transform to embrace the possibilities of the new developments. 

Furthermore, Ms. Ngoc Anh has assisted multiple international and local corporations to structure their investments into and out of Vietnam and achieve effective tax positions for their investments. Apart from that, she frequently supports clients to simplify the relevant tax and invoicing compliance process to achieve efficiency. Ms. Ngoc Anh has also advised high net-worth individuals and family businesses on various tax matters relating to assets management.

Prior to joining A&M, Ms. Ngoc Anh spent 20 years with two Big 4 accounting firms, Ernst & Young in Vietnam and in the U.S., and PwC in Vietnam, where she most recently served as Director in charge of tax practices, responsible for leading the tax practices focusing on the financial services and real estate sectors and private entrepreneur business, serving family business. 

Ms. Ngoc Anh earned a bachelor’s degree in international business from the Foreign Trade University of Vietnam. She is a member of the Association of Chartered Certified Accountants of the U.K. (the ACCA), and the Vietnam Tax Consultation Association.

Insights By This Professional

As part of its 2030 tax and fiscal strategy plans, Vietnam is going through significant tax reforms. These reforms are set to affect various sectors including those involved in e-commerce and export activities.
On 23 October 2024, the Government Inspectorate of Vietnam (GIV) issued the Official Dispatch No. 2220/TTCP-KHTH on the directive of the inspection plan for 2025 (Dispatch 2220).
Companies with excess cash often engage in various lending and funding activities to enhance their returns. In Vietnam, while such financial activities are widespread, the Value Added Tax (VAT) treatment of related income, particularly interest income, has been inconsistent. What are some positions that local authorities have adopted?
On 28 June 2024, the State Bank of Vietnam (SBV) released Circular No. 23/2024/TT-NHNN (Circular 23), which amends Circular No. 10/2016/TT-NHNN (Circular 10) with significant updates related to the implementation of ESOP for foreign entities in Vietnam. What are the key updates and how can it affect your business?
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Thought Leadership
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