The tax regulations in Vietnam have changed continuously in recent years. Therefore, there is a lot of potential tax risks associated with an enterprise’s business operation. As a result of in-depth experience dealing with business regulations and having a thorough knowledge of accounting and tax laws, we know that with good preparation in-advance these possible risks can be mitigated.

Grant Thornton Vietnam will tailor our professional Tax Health Check services to assist our Clients in mitigating the above-associated tax risks. The outcome of the Tax Health Check services will comprise of:

  • Indicating and Quantifying possible, risks and hidden tax exposures;
  • Providing recommendations to mitigate the tax risks; and
  • Forming a good picture towards the tax authority with respect to the Clients' tax compliance status.

Approaches and services:

Your business: Provisional and year-end tax declarations in compliance with tax laws.

Service 1: Tax health checkGrant Thornton’s solution:

  • Conduct fieldwork to review documentation;
  • Identify the potential tax risks and recommendations.

Timeline: 1-3 weeks.

Deliverable: Report tax exposures, findings, and recommendations.

Your business: Avoidance of possible tax risks due to lack of legitimate and sufficient supporting documents

Service 2: Document implementation

Grant Thornton’s solutions:

  • Guide the documentation;
  • Assist in preparing template/ develop templates for documentation purposes;
  • Review the final documentation.

Timeline: 1-2 weeks.

Deliverable:

  • Templates
  • Verbal advisory
  • Recommendations in the document

Your business: Avoidance of penalties upon audit by tax authority

Service 3: Tax audit assistance

Grant Thornton’s solutions:

  • Send team to attend tax audit;
  • Assist in explanation of issues with supportive arguments to seek a favorable tax treatment.

Timeline: 1-2 weeks.

Deliverable:

  • Suggest input for tax audit working minutes and final minutes;
  • Report the tax audit progress.

Your business: Appeal for unfavorable treatments

Service 4: Tax petition

Grant Thornton’s solutions:

  • Draft/submit petition letter to make a defense toward the clients’ tax position;
  • Follow-up to have meetings with the tax authority.

Timeline: 3-8 weeks.

Deliverable: Obtain the official response from the tax authority.

 

How we can help View Details