Limitless customization options & Elementor compatibility let anyone create a beautiful website with Valiance.
THE REPRESENTATIVE OFFICE Vietnam-based representative office of a foreign trader means a dependent unit of the foreign trader, which is established under the provisions of Vietnamese law to conduct market survey and a number of commercial promotion activities permitted by Vietnamese law. FUNCTION OF THE REPRESENTATIVE OFFICE The operation of a representative office shall be […]
Obtaining Work Permit (WP) is an essential step for the enterprise which have foreign labor recruitment. Based on the particular requirement of each position, the enterprise is liable to choose appropriate position/ role and register it with Vietnam authority prior employment. By having Work Permit, the expatriate is allowed to work officially for Vietnam-based enterprise. […]
While Law on Enterprise has been amended to facilitate the business entrepreneurs in doing business, household business becomes an optimized option for those with small scale and seek for a straightforward & simplified compliance requirement. Table below provides quick comparison in terms of the formation & compliance requirement between a Limited Liability Company – LLC […]
Positive news from Vietnam Government pertaining to VAT rate that it reduces from 10% to 8%, applied for the period from 1 July 2023 to 31 Dec 2023. 8% VAT is applied for all goods and services, EXCEPT: Telecommunications Finance, banking, insurance and securities related service Real estate business Prefabricated metal and metal products, mining […]
FCT is not a separate type of taxation. FCT is a term referring to the Value-Added Tax (VAT) and Corporate Income Tax (CIT) / Personal Income Tax (PIT) obligation of foreign contractors/sub-foreign contractors: For foreign organizations: VAT and CIT For foreign individuals: VAT and PIT APPLICABLE SUBJECTS Foreign contractors (FC) Foreign business organizations with […]
COMPULSORY SOCIAL INSURANCE CONTRIBUTION Once the employment is engaged, both employer and employee are required to contribute Social Insurance (SI), Health Insurance (HI) and Unemployment Insurance (UI) on monthly basis. The Company registers SHUI unit code for SHUI contribution Foreign labor is required to contribute SHUI under separate SHUI unit code. THRESHOLD FOR SHUI CONTRIBUTION […]
OVERVIEW OF CORPORATE INCOME TAX IN VIETNAM Corporate Income Tax (CIT) is a kind of direct tax, imposed on assessable income deriving from business activities of providing goods & services from the Company to its customer. TAXPAYER CIT taxpayer are organizations engaging in production and trading of goods or in provision of services with taxable […]
LEGAL REPRESENTATIVE Legal Representative is an individual representing the enterprise to exercise the rights and perform the obligations arising out of transactions of the enterprise, and representing the enterprise to act as the person lodging a petition for resolution of a civil matter, as a plaintiff, defendant or person with related interests and obligations in […]
Audit is compulsory procedure at year-ending for foreign direct investment (FDI) enterprise and listed company, in order to obtain audit’s opinion regarding the financial statements prepared by such entities. Once audited financial statement (AFS) is issued, it should be submitted to respective authorities, along with online lodgment of tax finalization returns. In Vietnam, a FDI […]
The Vietnamese name of an enterprise contains two components including: Form/ Type of the enterprise Proper name THE FORM OF AN ENTERPRISE Form of the enterprise Vietnamese Short-term Limited liabilities company Cong ty trach nhiem huu han Cong ty TNHH Shareholding company Cong ty co phan Cong ty CP Partnership company Cong ty hop danh […]