SET UP AND INVEST
Starting a business in Vietnam
Plan the entity, licenses, funding and practical steps needed before launch.
Read the guideDecree 24/2013/ND-CP: Changing the marriage procedure with foreigner
The newly issued Decree 24/2013/ND-CP has a number of adjustments in the marriage procedure that has foreign elements in Vietnam as follows: For marriage dossier: – Remove the provisions on the requirement of notarization and legalization of household registration and identity proof. – Add some cases that must supplement the dossier: divorced in foreign country, Vietnamese resident …
Circular 31/2013/TT-BTC: Enhance the promotion of Vietnam investment environment
The promotional activities to attract investment have been increasingly paid attention. Specifically, the Ministry of Finance has just issued Circular 31/2013/TT-BTC specifying the financial support for this activities. Accordingly, the state budget will support 100% of the funding for investment environment promotional activities such as: – Promoting the policies and guidelines about investment in Vietnam on the domestic …
Circular 38/2013/TT-BTC: Increase 2-3% import tax on some commodities
On April 4th, the Ministry of Finance issued Circular 38/2013/TT-BTC adjusting the import tax rate for some commodities as follows: Unpacked synthetic filament yarn (for retail) from elastomeric type (code 5402.44.00) and high carbon steel wire coated copper alloy used for inflatable pneumatic rubber tire (code 7217.30.31) will have tax rate of 3%. Regardless the elastic polystyrene …
Circular 35/2013/TT-BTC: New features in electronic tax service
Organization providing electronic tax service (T-VAN) is responsible for transferring the electronic tax record to the electronic portal of the tax authorities at least 2 hours/time since received electronic tax record from the taxpayer. At the same time, organization providing T-VAN service is responsible for the case that the tax record of the taxpayer transferred …
Circular 214/2012/TT-BTC: 37 new auditing standards
The Ministry of Finance has announced 37 new auditing standards in Circular 214/2012/TT-BTC, these standards will be applied from January 1st 2014. Some auditing standards may be cited as: Standard No. 210 – Audit contract, Standard No. 230 – Audit documents and records, Standard No. 300 – Planning for the audited financial statements, Standard No. 500 – …
Circular 203/2012/TT-BTC: Procedure to issue the business registration for audit service
In order to provide audit service, service provider has to follow the business registration procedures. The dossier requesting for the certificate of eligibility to conduct audit service must have all the following documents: – An application for certification; – List of auditors practicing with labor contract; – A copy of the certificate of registration to …
Circular 08/2013/TT-NHNN on interest rate applicable from March 26th 2013
From March 26th 2013, the maximum interest rate applicable to deposits with a term of one month to 12 months is 7.5%/year. The 12-month interest rate on deposits will be set by the banks on the basis of supply and demand in capital market. In addition, short-term interest rate was reduced to 11%/year; particularly for …
Conditions to claim labour accident compensation
Current Vietnam law on Social Insurance regulates conditions entitled to labor accidents for workers that compulsorily participate in social insurance in cases: – Accident at work and during working hours, including during breaks, mid-shift meal, preparation time and finish the job. – Accident at work or outside working hours when working as requested by the …
Decision 563/QD-NHNN on buying and selling gold with the State Bank
One key point to be noted in the Decision 563/QD-NHNN issued by the State Bank of Vietnam (SBV) is that: The trading of gold will be stopped if before announcing the result, the gold price fluctuates over the price in the approved plan. The exchange office will notify the participating traders to stop trading. Additionally, a number …
Circular 28/2013/TT-BTC: Increasing import tax for used car
From April 29th 2013, the import tax for used passenger car from 9 seats (including the driver) will be increased. Accordingly, for car less than 1,000 cc in heading 8703 of tax category will be applied the new tax rate of USD 4,200. For car from 1,000 cc to 1,500 cc, the tax is of USD …