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International Financial Reporting Advisory Services
IFRS reporting advisory serivces of Grant Thornton are carried out by our dedicated team with expertise in IFRS implementation.
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Audit Services
• Statutory audit • Review of financial statements and financial information • Agreed-upon procedures • FRAS services • Compilation of financial information • Reporting accountant • Cross-border audit • US GAAP audit
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Audit Quality
We have various methods of monitoring our system of quality control and engagement quality, including real-time involvement of coaches and national office personnel on select audit engagements, reviews of issuer audit engagements prior to archiving by someone outside of the engagement team, and internal inspections of assurance engagements and the system of quality control.
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Audit Approach
Audit Approach
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Licensing services
Licensing services
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International tax planning
Our extensive international network provides us with significant resources to meet all your expansion goals. We strive to develop commercially focused and tailored tax strategies to minimise tax exposures and maximise business efficiency.
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Expatriate tax planning
We have a broad knowledge base and skills to assist you keep your personal income taxes to a legitimate and reasonable level, while remaining compliant with legislation. We can develop a personalised package for each key employee to take maximum advantage of the exemptions and incentives available.
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Tax advisory
We will review the proposed business model and transactions and advise on tax implications and recommendations to optimize the tax opportunities under the local regulations and treaties which Vietnam entered into. Furthermore, we coordinate with our GT global tax team to provide a comprehensive tax advisory for the countries involved in the business model and transactions.
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Tax compliance services
This service is designed to assist enterprises to cope with the statutory tax declaration requirements in line with the Vietnamese tax laws as well as the frequent changes and updates in tax laws.
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Tax health check
Our Tax Health Check involves a high-level review of specific tax areas to highlight the key issues that need to be rectified in order to reduce tax risks. Through our extensive experience, we have identified key risk areas in which many enterprises are not fully compliant or often overlook potential tax planning opportunities. Our tax health check service represents a cost-effective method to proactively manage risks and reduce potential issues arising as a result of a tax inspection.
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Transfer Pricing
Transfer pricing is a pervasive tax issue among multinational companies. In Vietnam, the tax authorities require special documentation to report related party transactions. Compliance with transfer pricing regulations is an important aspect of doing business effectively in Vietnam as failure to do so may result in significant penalties.
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Tax due diligence
We conduct tax due diligence reviews of target companies to analyse their tax exposure and position in relation to acquisitions, mergers or consolidations. We are able to integrate this service with our Advisory Services department in order to offer a comprehensive, holistic due diligence review.
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Customs and international trade
Our experienced professionals can help you manage customs issues more effectively through valuation planning and making use of available free trade agreements. We also assist Clients in optimising their customs procedures by making use of potential duty exemptions and efficient import-export structures. Risk mitigation activities include customs audit defense and compliance reviews.
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M&A Transaction
We advise numerous foreign investors on efficient tax structures for their investments. Our experience allows you to consider all the options and set up a corporate structure that meets both operational and tax efficiency requirements. In short, the structure that is best for you.
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Industrial Zones – Picking A Location For Your Business
Grant Thornton Vietnam’s one-stop services are designed to provide comprehensive support to both new and current investors who are planning to expand or restructure their business in Vietnam. Our professionals have established strong working relationships with landlords, property developers and authorities at various localities. With extensive experiences in liaison with the relevant agencies, we offer assistance including negotiation on land rental rates and efficient management of licensing process. Our customized and flexible solutions can bring benefits of cost efficient location, accelerate licensing process, and optimize tax opportunities while remaining in compliance with legislation.
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Tax Audit Support
Tax audit support services provide comprehensive assistance to your business in Vietnam. Recent tax practices have shown the general tendency of launching routine tax audit on yearly basis. Tax authorities have been effectively using more sophisticated methods to identify target entities from across different industry sectors.
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Business Risk Services
Business Risk Services
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Transaction Advisory Services
Transaction Advisory Services
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Valuation
Valuation
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Business consulting services
Finance Management Advisory
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Accounting services
Accounting services
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Taxes compliance within outsourcing
Taxes compliance within outsourcing
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Payroll, personal income tax and labor compliance
Payroll, personal income tax and labor compliance
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Secondments/Loan staff services
Secondments/Loan staff services
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Compilation of the financial and non-financial information
Compilation of the financial and non-financial information
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Accounting systems review and improvement
Accounting systems review and improvement
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Initial setting-up for accounting and taxes systems
Initial setting-up for accounting and taxes systems
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Management accounting and analysis
Management accounting and analysis
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Comprehensive ERP system solution
ERP software is a tool for business operations, production management, order processing and inventory in the business process. Today, ERP software for small and medium businesses has been greatly improved to help businesses manage their business better. The article below will answer all relevant information about what ERP software is and offer the most suitable ERP solution for businesses. Let's follow along!
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Analyze Business Administration data
We believe in the value that data can bring to the success and development of every business. Our team helps design data architecture supported by tools, to support business governance and provide useful information to management.
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Financial reporting compliance solution package
Putting financial issues at the heart, this service helps ensure that financial reports for customers comply with both the requirements of Vietnamese accounting regulations and standards (VAS) as well as reporting standards. international finance (IFRS).
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Third-party ERP extensions
ERP is a long-term solution that requires long-term travel, not short-term. We understand that many businesses cannot deploy the entire ERP system at once due to many different reasons, instead businesses can deploy each part. Over time, these solutions can be expanded to accommodate improved business processes or can even link completely new processes across different departments.
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Localize, deploy and rebuild the project
Quite a few ERP projects need to be implemented according to current Vietnamese requirements and regulations, but still comply with common international business requirements. These projects need some improvements and adjustments in the right direction.
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Consulting on technology solutions
We support the selection and implementation of the most suitable solutions, ensuring business efficiency and performance. We will work closely with customers to plan, evaluate and implement the right technology investment strategies and solutions to meet the development needs of businesses.
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Offshore company establishment service
Using the offshore company model will facilitate the owner in the process of transaction and expand overseas markets, take advantage of the tax policy with many incentives and protect the value of the family enterprise's assets.
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Private Trust Advisory
The development of the economy with many modern financial instruments has brought many advantages and opportunities for the enterprises, but there are still certain potential risks in any type of business. So how to protect your asset value with an appropriate company structure while stay compliance with relevant regulations?
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Our values
We have six CLEARR values that underpin our culture and are embedded in everything we do.
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Learning & development
At Grant Thornton we believe learning and development opportunities help to unlock your potential for growth, allowing you to be at your best every day. And when you are at your best, we are the best at serving our clients
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Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
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Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.
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Contact us
Contact us
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Available positions
Experienced hires
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Available positions
Available positions
Technology Transfer Contract shall be registered, audited and complied with Vietnamese regulations on assigned price from 1st July, 2018 onwards.
On 19th June 2017, the National Assembly has issued the Law No. 07/2017/QH14 on Technology Transfer taken into effect since 01st July 2018 and replaced Law on Technology Transfer No. 80/2006/QH11. Grant Thornton would like to summarise some notable points for the Clients’ reference and consideration of preparing proper supporting documents under the current regulations, as follows:
1. Transferred Technology
Transferred Technologies include among the following:
a) Technical know-how, technological know-how;
b) Technological plans, processes; technical solutions, parameters, drawings or diagrams; formulae, computer software and database;
c) Solutions for production optimization and renovation of technology;
d) Machinery/ equipment attached among the objects regulated at above Points a, b and c.
2. Technology Transfer Contract (“TTC”)
According to this Law, TTC shall be concluded in a written form or in other forms considered as a written transactions regulated by Civil Code. The contract must be: (i) signed and sealed (if any) by the relevant parties; (i) initialed and sealed across all pages of the contract and its appendixes (if any).
The TTC has to include the following contents:
a) Name of transferred technology.
b) Technology objects to be transferred, products created by the transferred technology, and their quality standards.
c) Transfer of the ownership and/or the right to use technology.
d) Method of technology transfer.
e) Rights and obligations of the parties.
f) Price and method of payment.
The price for transferred technology is agreed by the parties. The price of transferred technology shall be audited and complied with prevailing Laws on taxations and prices in the following cases:
- Technology is transferred between or among the parties in which at least a party has State Owned Capital;
- Technology is transferred between or among the parties having parent -subsidiary company relationship;
- Technology is transferred between or among the parties having affiliate relationship as prescribed by the laws on taxations.
Based on this provision, Grant Thornton recognises that the concern of the Vietnamese Government on technology transfer from a Parent Company to its Subsidiary Company and among their affiliate companies to tighten the transfer pricing issues can be conducted under method of technology transfer activities which might cause losses to the state budget. Grant Thornton recommends Companies to prepare and review the Transfer Pricing Documentation demonstrating the arm’s length price of the transferred technology carefully before entering into a TTC among the parties.
The payment shall be made by adopting any of the following modes:
- One-off payment or payments in instalments in money or by goods;
- Transfer of the technology value as capital contribution to the investment project or enterprise under prevailing regulations;
- Payment by the percentage (%) of the net selling price;
- Payment by the percentage (%) of the net revenue;
- Payment by the percentage (%) of the earnings before income taxes of the transferee
- Other payment methods as agreed upon by the parties.
g) Duration and effective date of the TTC.
Effective date of a TTC is agreed by the parties; In case the parties do not deal the effective date, the TTC shall become effective as from the TTC singing date.
For the TTC subject to compulsory registration under current regulations, it shall become effective from the date issuing the Registration Certificate of technology transfer. If a TTC is extended, supplemented or amended, it is the issuance date of adjusted Registration Certificate.
h) Definitions and terms used in the TTC (if any).
i) Plan and schedule for Technology transfer, and location for implementing technology transfer.
j) Warranty responsibility on transferred technology.
k) Penalty for breach of contract.
l) Liability for breach of contract.
m) Dispute resolution authority.
n) Other contents agreed by the parties.
3. Registration of technology transfer
A TTC is mandatorily required to register with the science and technology authorities in the following cases, excluding the transfer of restricted technologies which have been granted technology transfer permit:
- Transfer of technology from a foreign country to Vietnam;
- Transfer of technology from Vietnam to a foreign country;
- Domestic technology transfer with use of state fund/ budget, excluding cases where Registration Certificate of Outcomes Implementing Tasks on Science and Technology Tasks has been already granted.
Within 90 days from the signing date of the TTC, the party obliged to technology transfer registration shall submit an application for a Technology Transfer Registration Certificate to the science and technology authority.
4. TTC entered into and effected prior to 1st July 2018
For TTC concluded prior to the effective date of this Law, if it requires an extension after this Law’s effective date, it is compulsorily complied with procedure of registration and extension stipulated at this Law.
Any applications for registration of TTC submitted before the effective date of this Law but not settled yet shall be treated in accordance with regulations of the Law on Technology Transfer No. 80/2006/QH11.
Should the Companies need any assistance/ support in: preparation of the TTC, determination of the arm’s length price of the transferred technology in compliance with the current transfer pricing laws in Vietnam; registration of TTC with Science and Technology Authority, please feel more than welcome to contact Grant Thornton.
Technology Transfer Contract shall be registered, audited and complied with Vietnamese regulations on assigned price from 1st July, 2018 onwards.
Technology Transfer Contract shall be registered, audited and complied with Vietnamese regulations on assigned price from 1st July, 2018 onwards.
Technology Transfer Contract shall be registered, audited and complied with Vietnamese regulations on assigned price from 1st July, 2018 onwards.