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Vietnam’s GDP growth in the first quarter of 2018 reached an 11 year high, at 7.38%, and exceeded current year forecasts, in a quarter which is historically the lowest quarter for GDP growth largely because the first quarter includes the main public holiday for the Lunar New Year

1. New decree promulgating the penalties of administrative violations in the domain of accounting and independent audit. 2. Tax obligations on transferring leased land and factories on land from export processing enterprises to domestic enterprises . 3. Credit of overseas tax paid against Personal Income Tax (“PIT”) payable in Vietnam. 4. Deemed import duty can be subject to assessment for tax refund. 5. List of enterprises with a high probability of being subject to tax inspection and tax audit in 2018

Danang has been one of the most successful cities in Vietnam, in developing and growing a tourism industry and is looking at how to successfully develop the City from now to 2035. Tourism currently contributes 23% of GDP and in the first quarter of 2018 Danang has seen its foreign visitor arrivals increase 69% yoy.

Vietnam’s under invested Agricultural Sector

Updates on Tax, Compulsory Insurance and Customs Policies

With the increasing number of mergers and acquisitions (“M&A”), transfer of contributed capital and securities is becoming more common and is widely used by both domestic and foreign investors. How to comply with the regulations and have efficiency tax efficient approach is one of the key concerns of most shareholders, who would like to invest or divest their ownership in a Vietnamese company. In general, share transfer in Vietnam includes the sale of capital contributed in a limited liability company (“LLC”) and securities of a joint stock company (“JSC”), and in certain circumstances, the taxes imposed on each transaction are different.

Military relations with USA seem stronger whilst trade relationships seem under threat!

Grant Thornton is pleased to launch our annual Women in business 2018 report: beyond policy to progress on International Women's Day. The research focuses on the landscape of business and government policy and explore the drivers of what creates change in gender diversity in business leadership across the world.

Vietnam is on a journey and there will continue to be humps and bumps in the road, but today Vietnam is on almost everyone’s radar screen and if it isn’t you should be asking why.

Update on new decree and guidance relating to tax policies, customs and labour issues

Grant Thornton is conducting its 2018 survey on the investment outlook of the private equity sector. The survey is aimed at decision makers involved in investment activities such as corporates, advisory firms and private equity houses in addition to academics and experts across various sectors of the economy. This is the 17th consecutive private equity survey Grant Thornton has carried out on an annual basis.

2017 saw the lowest addition to the country’s oil reserves in the country’s history with an addition of only 4 million tonnes against a target for the year of 10-15 million tonnes.

In this newsletter, Grant Thornton Vietnam would like to update some tax policies and new significant guidance

The majority of Vietnamese taxpayers end their financial years on December 31 and thus will be subject to the deadline for 2017 corporate income tax (“CIT”) returns on March 31, 2018.

The Government continues to assert its intention to improve the business environment with the reduction in the requirements for inspections licenses and sub-licenses.

The year 2017 certainly ended with a bang, with an amount of US$ 5 billion going straight into the foreign exchange reserves as a result of the sale of 53% of the Governments holding in brewing company SABECO, to Thai Beverage.