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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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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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We have six CLEARR values that underpin our culture and are embedded in everything we do.
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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
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Available positions
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Export expectations drive business optimism to new high
New research from the Grant Thornton International Business Report (IBR) has uncovered an unprecedented boost in plans to increase exports, driving levels of business optimism to record highs. The growth in business optimism is particularly high in Europe and North America, and seems to be driven by increasing export growth expectations. The findings highlight the ongoing need for policymakers to work together to lower trade barriers and foster business environments which encourage cross-border activity and bolster the global recovery.
The IBR has found that globally, business optimism has risen to net 46%, a record high. The surge in optimism is being driven by increasing confidence in the European Union (at 43%, the highest since 2006), North America (at 73%, the highest since 2004) and the G7 (at 53%, another record high). This positive sentiment about the economic outlook is being fed by record-high expectations over exports; globally the proportion of businesses expecting exports to increase over the coming 12 months (24%) has only been equalled once before, in 2011. In the G7, a record 23% of businesses expect to grow exports over the next 12 months.
Ed Nusbaum, global CEO at Grant Thornton, commented:
“The widespread expectation for export growth is welcome as it is feeding levels of business confidence we have not seen in more than a decade. As economies continue to recover from the financial crisis, business leaders are sensing real opportunities to go overseas and capitalise on other markets. Growing middles classes in Asia are creating new and expanding markets for goods from advanced economies, and the rise of technology at home and in the workplace is feeding demand for cutting edge products and services. These are exciting times for business leaders, and the focus on exports is a clear sign to policymakers that cross-border trade is critical to the long-term health and success of their operations and the wider economy.”
Expectations for increasing exports are particularly strong in Asia Pacific (27%), where businesses in China are particularly bullish about selling more overseas (36%), and Europe (31%) where Germany (47%) and the UK (34%) are amongst the most confident both as regards their respective economies and their export growth potential. Expected export growth in southern Europe (32%) is also notable with businesses in Spain (40%) and Greece (38%) in the top five most confident about growing exports globally.
Ed Nusbaum commented:
“Exporting is a particular focus for Europe at the moment: regional growth remains tepid at best so businesses are increasingly looking further afield. Big German brands, particularly those in the automotive sector, recognised the potential in high-growth markets such as China long ago, but businesses in Spain, the UK and elsewhere are following their lead.
"For policymakers, the message is loud and clear that businesses need to be able to export in order to fuel growth and recovery. At a World Trade Organisation meeting in Bali last December, landmark commitments were made to boost trade around the world by breaking down bureaucracy and simplifying procedures for doing business across borders. This was a positive step, one which could add an estimated US$1trillion to world trade, and I hope to see further progress on the Trans-Pacific and Trans-Atlantic trade partnerships in the months ahead. Export subsidies, a reduction in red tape and greater support to firms looking to export more are all tools that can and should be deployed where possible to support cross-border trade. Of course businesses need to be regulated properly, but as part of a system that encourages rather than discourages firms to go overseas."
Tied to the growth in business optimism and intentions to export is a growth in plans to increase spending on research and development (R&D). Globally, 28% of business leaders plan to increase R&D spending over the next year, the highest figure ever recorded. Over the last quarter R&D expectations have increased by 13 percentage points in Asia Pacific, 5 pp in the EU, 7pp in North America and 6pp in South East Asia.
Ed Nusbaum added:
“Increased R&D spending indicates businesses are looking forward and thinking about the long-term development of their goods and services catering for different markets and tastes. But it also reflects business leaders’ plans to export more. As more of their products and services go overseas, better knowledge of those new marketplaces becomes more important. R&D spending shows that firms are eager to develop goods which will help them gain footholds overseas and ultimately deliver growth.”
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John Vita , Director, public relations and external affairs, +1 312 602 8955
Dominic King, Editor, global research, +44 (0)20 7391 9537