A Representative Office (RO) is obliged to represent the enterprise’s interests, conduct liaison activities, market research, and promotion of its head office’s businesses. ROs can help ease the execution of transactions between the overseas parent company and the local vendors. So, what to take into consideration when establishing one in Vietnam? Registration In normal practice,

Business activities and investments in Vietnam will be commonly imposed by the following taxes: Corporate income tax; Various withholding taxes; Capital assignment profits tax; Value added tax; Import duties; Personal income tax on Vietnamese and expatriate employees; Social insurance, unemployment insurance and health insurance contributions. In this article, an overview of Corporate income tax (“CIT”)

In this issue: Decision 22/2020/QD-TTg cutting down on land rental Enterprises, household, individual renting land from the Government could save up 15% land rental if suspending business from 15 days and more. In case rental has been paid in full for 2020, the saving cost could be carried forward to the following years – if

In this issue: Enterprise Law No.59/2020 takes effect from 01 January 2021 Reform administrative procedures: abolishing notice of seal, reports of changing information of company’s key titles (name, nationality, ID number…); Improve corporate governance ability: expanding rights and scope of shareholders… Investment Law No.61/2020 takes effect from 01 January 2021   Abolish 24 conditional investment

In this issue: (Latest) Deadline for submiting second quater report 2020 According to Point b, Clause 1, Article 44 of the Law on Tax Administration No.38 taking effect from July 1, 2020: “The deadline for submitting a quarterly tax return is the last day of the first month of the quarter following the quarter in which tax liability

In this issue: Decree No. 68/2020 amending and supplementing the method of determining deductible interest expenses in cases enterprises engaged in transfer pricing Raising the threshold to control interest expense to 30%; Changing the way of determining deductible interest expenses; Allowing the transfer of non-deductible interest expenses to the following tax period; Allowing determination of

In this issue: Decree 68/2020/ND-CP amends and supplements Decree 20/2017 on determining deductible interest expenses for enterprises having transfer pricing transactions, which have just been issued on June 24, 2020. Accordingly, there are 2 remarkable contents as follows: 1. Deductible interest expenses for the 2020 tax period: The deductible interest expense incurred in the period

New Update ! On the morning of June 19 2020, the National Assembly passed the Resolution of 30% reduction of income tax in 2020 for businesses with turnover of less than VND 200 billion. The applicable guidelines will be issued in the documents after the Resolution takes effect For further details, please keep an eye on our following newsletters.

In this issue: New Self-Deduction amount for personal income tax RAISE UPTO VND 11M from 2020 LOWER contribution to Occupational Accidents and Diseases Insurance Fund  Regarding Value-Added Tax (VAT) Deductible amount of input VAT if not declared shall NOT be realized as deductible expenses. If initial transaction from VND 20M was made in cash, even

In this issue: Directive No. 11/CT-TT about solutions to support the business and labor impacted by COVID-19 Extend the deadline for the payment of VAT, CIT and Land rental; Support: the labors of postponed labor contracts with VND1,800,000/month; the labors not yet eligible for unemployment insurance with VND1,000,000/month; qualified enterprises with loan at 0% rate