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Client Alert - Foreign Loans & Vietnam Bank Accounts


Changes were released earlier this year, affecting the recording and processing of foreign sourced loans by Vietnamese companies. This Client Update looks at what these changes mean to Vietnamese entities, and what business managers/owners need to be aware of when undertaking loans from abroad.

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Vietnam Client Alert for Representative Offices - August 2016


The use of Representative Offices in Vietnam has traditionally been a common preference for many international groups seeking a physical presence in Vietnam.

However, in recent years there has been a noted push by Vietnamese authorities to decrease the use of Representative Offices, partly to negate the perceived tax avoidance opportunities that Representative Offices provide to their parent companies.

In 2016 we have seen two significant releases by Vietnamese Authorities that change the case for using Representative Offices in Vietnam for many, and we suggest international groups reconsider or review their current Representative Office operations in Vietnam. Further, we suggest that those seeking to open a Representative Office in Vietnam also reconsider this choice to ensure it remains appropriate given recent changes.

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Vietnam Tax Update August 2016


This August 2016 edition of our Tax Update publication looks at significant changes to Value Added Tax (“VAT”) refunds and associated regulations for taxpayers in Vietnam, along with discussions on recent Official Letters released by tax authorities covering Personal Income Tax, Corporate Income Tax and VAT.

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Transferring Money from Vietnam to Abroad: Options for Foreign Individuals and Companies


Individuals who have spent time in Vietnam appreciate that sending money into Vietnam is relatively easy (although, caution must be taken to ensure that inflows are correctly documented, otherwise those inflows may be taxed as revenue/income), but getting money out of Vietnam is constantly a challenge for foreign individuals and companies operating in Vietnam.

The reality is, however, that it is possible to send money abroad in many legal ways from Vietnam, and below we highlight the most common legal methods for foreign individuals and companies in getting their cash out of Vietnam.

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Vietnam Tax Update July 2016


This edition of our Tax Updates focusses on a range of Official Letters issued by the tax authorities during the month, providing guidance in the often confusing realm of Vietnamese taxation. As always, please contact us if you would like further information on any of the items discussed in our Tax Updates publications.

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Vietnam Tax Update June 2016


In this Tax Update for June 2016 we look at a selection of Decrees and Official Letters released recently and which are likely to impact businesses operating in Vietnam. As always, please contact us if you would like further information on any of the items discussed in our Tax Updates publications.

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Vietnam Tax Update May 2016


In this Tax Update for May 2016 we look at a selection of Circulars, Official Letters and Resolutions that have been released and which are likely to impact businesses operating in Vietnam. Highlights of relevant elements of these releases are detailed below.

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Vietnam Tax Update April 2016


In this Tax Update for April 2016 we look at a selection of Circulars, Official Letters and Resolutions that have been released and which are likely to impact businesses operating in Vietnam. Continuing recent trends, these releases, generally proceed to provide more certainty and clarity for businesses.

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Social & Health Insurance Changes - 1 May 2016


From 1 May 2016, changes come into force increasing the Minimum Basic Salary in Vietnam, resulting in an increase in the maximum salary upon which Social Insurance and Health Insurance is calculated.

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Tip for Business Owners – have two Company Stamps.


Since the new Enterprise Law 2014 came into effect from 1 July 2015, companies in Vietnam are permitted to have more than 1 company stamp. The company stamp (also called a “Seal” or “Chop”) is of critical importance in Vietnamese society, and is required to validate most acts of a company. If the company stamp is lost, misplaced or even withheld by a disgruntled staff member, the company activities can potentially be seriously disrupted.

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Please feel free to contact Domicile Corporate Services or visit us using the information below.

Addresses

Ho Chi Minh City Office:
Level 9, Abacus Tower
58 Nguyen Dinh Chieu, District 1
Ho Chi Minh City, Vietnam

Hanoi Office:
Level 13, Hanoi Towers
49 Hai Ba Trung, Hoan Kiem District
Hanoi, Vietnam

Email

info@domicilecs.com

Phone

+84 (0)28 6291 5779

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