At our offices, a common scenario is that a foreign individual comes to see us to help with their company/investment in Vietnam. They tell us that they have established a company in Vietnam using a Vietnamese friend’s name as the investor (nominee), they

Substantial changes come into effect from 1 January 2018 affecting the calculation of payrolls in Vietnam. The results of the changes are that, essentially, remuneration payments received by employees will be subject to compulsory Insurances and Personal

At the present time, foreign individuals working in Vietnam are only subject to compulsory government Health Insurance and Personal Income Tax on their salary. However, changes from 1 January 2018 will result in Social Insurance becoming compulsory for mo

On 24 June 2020, the Vietnamese Government released Decree 68/2020/NĐ-CP (“Decree 68”), which amended Decree 20/2017/ND-CP (“Decree 20”), concerning tax administration for enterprises with related-party transactions and the relaxing of interes

Corporate groups setting up their Vietnam operations often (incorrectly) assume that they can centralise all their accounting and finance function for their Vietnamese entity into the headquarters finance function. Whilst there are some opportunities, cau

There are significant changes forthcoming in Vietnam to how payrolls are to be calculated and processed, and both employees and employers need to understand the potential impacts of these.

As globalisation advances, Vietnam is increasingly recognised as an attractive and feasible destination for foreign investors to expand or establish operations.

Under Vietnamese Labour Laws, companies in Vietnam seeking to employ foreign individuals are generally required to obtain a Work Permit for the individual before the individual can sign a Labour Contract and commence work. However, there are exemptions to

On 24 February 2017, the Vietnamese Government issued Decree 20/2017/ND-CP (“Decree 20”) concerning tax administration for enterprises with related-party transactions. This is a significant release for Transfer Pricing (“TP”) and related-party transaction

Foreign investment into Vietnam is a key driver for the Vietnamese economy – representing around 40% of the economic output, and accounting for greater than 70% of the country’s exports.

31 March 2017 is the deadline for lodgement of 2016 Financial Statements and tax finalisations for most entities in Vietnam. Further to this, foreign invested enterprises and specified other enterprises are required to have their Financial Statements audi

The use of Credit Cards in Vietnam to pay company expenses has been an area of confusion and frustration until recently. Be it using personal cards for company expenses, or arranging company sponsored credit cards for the right individuals, the interpreta

Establishing a company in Vietnam is a significant step for many foreign investors, and hopefully the beginning of a successful business undertaking. Anyone that has gone through the process of preparing for and submitting an IRC application (Investment R

The National Salary Council has issued a recommendation that Vietnam’s Minimum Regional Wage should be increased for 2017 by an average 7.3% (see table below for specifics).

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

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

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