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Input the presence in Vietnam market by either establishing a company or other investment vehicles is an important step for many foreign investors, and hopefully the beginning of a successful business undertaking. Considering the context of Vietnam’s economic development, the ever-increasing growth of enterprises continues to demand capital to serve their business. Funding through foreign […]
Positive news from Vietnam Government pertaining to VAT rate that VAT rate 8% is continued to apply for goods & services for the period from 1 Jan 2025 to 30 Jun 2025. 8% VAT is applied for all goods and services, EXCEPT: Telecommunications Finance, banking, insurance and securities related service Real estate business Prefabricated metal […]
Doing business in host country involves with statutory compliance, where the enterprise is required to fully comply with periodical filings and submitting tax returns. Compliance Calendar is designed and aims to provide deadline of statutory report. Based on set schedule, the company can arrange for tax filings and submission on time in year 2025. Download […]
[Update | Being effective from 1 July 2024] 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 […]
Doing business in host country involves with statutory compliance, where the enterprise is required to fully comply with periodical filings and submitting tax returns. Compliance Calendar is designed and aims to provide deadline of statutory report. Based on set schedule, the company can arrange for tax filings and submission on time in year 2024. Download […]
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 […]