On 1 September 2015, the General Department of Taxation (“GDT”) has issued decisions on the official establishment of Transfer Pricing Inspection Department at both the GDT and 4 provincial tax departments level, including: Ha Noi; Ho Chi Minh; Binh Duong and Dong Nai.

Grant Thornton (Vietnam) believes that this official issuance of the Decision on establishment of the Transfer Pricing Inspection Department at the GDT and 4 provincial tax departments: Ha Noi; Ho Chi Minh; Binh Duong; Dong Nai has showed the determination of Vietnam Tax Authorities in requesting the
Enterprises, especially the foreign investment Enterprises to comply with Transfer Pricing regulations in Vietnam. Accordingly, the Enterprises will need to pay attention to the
below points:

•  Whether the Enterprise has fully and correctly declared the information on Transfer Pric🃏ing Form?

•  Besides the Contracts, invoices and payment vouchers with related parties, whether the Enterprise has any independent documents to prove that the pricing is in compliance with Transfer Pricing regulations of Vietnam T🉐ax authorities or not?
  

On 14 September 2015, the Government has issued Decree No. 78/2015/ND-CP on Enterprise Registration. This Decree shall come into effect from 1 November 2015 and replace Decree No. 43/2010/ND-CP, Decree No. 05/2013/ND-CP.

Throughout many discussions with numerous foreign investors, entrepreneurs with different investment scales and business sectors, Grant Thornton (Vietnam) understands that the Investors, and Entrepreneurs always put into their top priority of being in the compliance with the provisions of Law on Enterprises, Law on Investment and other specialized laws and take into consideration on the impact of the changing laws to business activities, investment of the Enterprises.