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During business operations enterprises can take loans granted locally and/or from offshore to finance their current or long-term investments. For cross-border loans, they are classified into two types, i.e. government debts and non-government debts. This article focusses on non-government debts administration compliance, domestic tax and tax treaty protection.

In this newsletter, Grant Thornton Vietnam would like to highlight the following updates in relation to invoices, taxation, custom, and investment procedures: 1. Amendment on the deadline for submission of the application on using self-printed invoices, as well as the notification on invoice publication, effective from 12 June 2017 2. Whether 0% interest rate loans will be subject to deemed tax? 3. Regulations on Value Added Tax (“VAT”) applicable for imported fixed assets as capital contribution for the establishment of an enterprise 4. Circular 02/2017/ TT-BKHDT provides guidance on the mechanism for the coordination in processing the application for investment registration and enterprise registration of foreign investors effective from 15 June 2017

One of the common complaints from foreign investors is about the lack of transparency in business and in the licensing and approvals processes

In this month's newsletter, Grant Thornton Vietnam would like to update you on the tax audit and tax examination schedules of the year 2017 of General Department of Taxation (“GDT”) for your reference. GDT focuses on audit and examination of Value Added Tax (“VAT”) refund, comprehensive tax audit at offices of Enterprises and Foreign Invested Enterprises (“FIEs”) in retail sector.

As mentioned in previous Insights there has been much talk of startups and financial backing and also the encouragement of innovation and innovative technologies.

In this newsletter, Grant Thornton Vietnam would like to provide an update in relation to taxes, insurances and customs regulations for your reference

The major topic of the week of course is the One Belt One Road summit, which started in Beijing on Monday this week. The project aims at connecting all countries along the old Silk Road by sea routes, road and train, connecting Asia, Middle East, Europe and Africa.

Grant Thornton Vietnam is pleased to issue the 2017 edition of ‘Doing Business in Vietnam’. We hope you find this guide useful and helpful in understanding how to do business in Vietnam.

For sure there has been a lot of talk of late about alternative energy and in particular Solar and Wind generated energy but the big impasse has often been the negotiations on feed in tariffs (“FIT’s”). The Ministry of Industry and Trade of Vietnam (“MOIT”) has just released a draft circular following Decision 11 on mechanisms for encouraging the development of solar power in Vietnam (“Decision 11”) which was issued by the Prime Minister last month.

Updates in PIT conditions for applying family relief, rewards to encourage efficient performance and PIT reduction when working in economic zones

In Grant Thornton’s recent Private Equity Survey the low level of Corporate Governance retained it’s ranking as the second issue of most concern to PE investors ranking just behind transparency. These two have ranked as the 2 most common concerns in most of the Grant Thornton PE surveys over the last few years, with little improvement.

Through the long process of formation and development, the bond market in Vietnam has been growing in both depth and scale, proving its role as a medium for long-term capital mobilization, in the economy, as well as addressing the shortfall of the State budget.

Private Equity investment in Vietnam remains a significant driver behind Vietnam’s economic growth. The sentiment expressed by those operating in the Private Equity sector has an important impact on the economy as a whole, which this survey seeks to measure.

In the 16th survey on the Private Equity sector, carried out by Grant Thornton Vietnam, in March 2017, the majority of respondents (78%) were positive about Vietnam’s economy and the economic outlook.

In this month’s newsletter, Grant Thornton Vietnam will provide updates, with regard to tax, customs and contracts with construction contractors for your reference as follows: 1.Corporate income tax incentives on interest from deposits, proceeds from defective materials, fines and compensation. 2.Setting production norms for all raw materials used for processing or manufacturing for export. 3.Customs procedures for handing over construction to Export-processing enterprises. 4.Handling breaches of contracts by members in the construction contractor partnership.

At last the Vietnamese authorities are waking up to the importance of Travel and Tourism as an economic sector and its growing contribution to GDP. In 2016 international visitor arrivals reached 10 million for the first time a growth of 26% over 2015. Domestic tourism also continued its rapid growth with over 63 million domestic travelers. The top 5 inbound countries are China ( 2.7 mn +51%); Korea (1.5 mn + 38%); Japan (0.74 mn + 10%); USA (0.550 mn +12.5%) Taiwan ( 0.507 mn + 15.8%). As can be seen China, Korea and Japan account for 50% of inbound foreign arrivals.