SET UP AND INVEST
Starting a business in Vietnam
Plan the entity, licenses, funding and practical steps needed before launch.
Read the guideAdditional quarterly tax record
Quarterly tax record has been supplemented by the Tax Administration Law, revised 2012. Accordingly, the record includes: – Quarterly declaration – Declaration bill of goods and services sold (if applicable) – Declaration of receipt of goods and services purchased (if any) – Documents related to the amount of tax payable. Deadline for quarterly tax declaration …
Cooperative members can be foreigners
On November 20th, the National Assembly passed the Law on Cooperatives 2012. One of the interesting new points which is foreigners legally residing in Vietnam now can become a member of the cooperative. Accordingly, the Government shall stipulate the conditions and procedures for becoming a member of the cooperative for Vietnamese legal entities and foreign individuals …
Restructuring securities companies
Accordingly, classification of the securities companies in four groups on the basis of the level of risk for the market to take appropriate remedial measures as follows: Group with healthy activities: organizations with liquidity ratio of more than 180%; Group with ordinary activities: liquidity ratio from 150% to 180%; Controlled group: liquidity ratio from 120% …
Cases that guarantee for taxation shall be applied
Only accept letters of guarantee stating the contents commitment to ensure the ability to perform and responsible for paying tax, fines for late payment in place of the taxpayer at the end of the tax payment time limit but the taxpayer has not paid the tax, fully meet the conditions prescribed by the letter of …
Standardized non-cash payment
From March 26th 2013, service providing organizations: intermediate payments, non-cash payments, users of those service when open and use the account have to involve in a contract. Service fee is still regulated and listed by the organizations, but in the case of unexpected developments, the Reserve Bank of Vietnam will determine this fee. Person aged …
Guide for compensation in criminal proceedings
Prisoners who died in their custody or detention, imprisonment without their own fault or a force majeure event will be compensated with the mental damages at 360 months minimum wage. This is one of the contents are specified in detail in The Joint Circular 05/2012/TTLT-VKSNDTC-TANDTC-BCA-BTP-BQP-BTC-BNNPTNN guiding the implementation of the state to compensate in criminal proceedings. This …
Duty-free imports of agricultural products
Rather than business enterprises, households and individuals are also exempt from import duties when importing unprocessed agricultural products from Cambodia. This new content is defined in Circular 201/2012/TT-BTC guiding the tax policy for unprocessed agricultural products that Vietnam support investment and growing in Cambodia. In addition, the list of exempting goods and code in this case …
Illegal termination of the labor contract also receive unemployment insurance
Previously, when unilateral termination of labor contracts, employee must be certified by the employer that the termination is legal then he/she will be eligible for unemployment insurance (UI). However, from January 15th 2013, employee just need to be certified by the employer on the unilateral termination of the contract to complete the documents entitled to …
Increase the fee to change business registration
Fee for new, renewal the Certificate of registration of branches, representative offices and place of business of enterprise from the date of December 10th 2012 will be 100,000 VND/time, increased 5 times compared to the old regulations which was no more than 20,000 VND/time . It is one of the new content that the Ministry …
No Refund for Mistaken Paid or Overpaid VAT
Mistaken paid or overpaid VAT on imported goods for custom authorities when discovered will be adjusted to the state budget and will not be refunded. The handling of the above VAT amount is done under the guidance at Point c, Clause 2, Article 131 of Circular194/2010/TT-BTC. Accordingly, the overpaid amount will not be refunded to …