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Human resource and labour compliance in Vietnam is one of the most troublesome areas for international investors operating or seeking to enter Vietnam. In a recent LinkedIn survey of our extended Acclime community, 62% of our audience, when being asked of
While Vietnam's borders remain closed, it has allowed business professionals, skilled workers, and students to enter the country with special entry permits.
Vietnam is regarded as a favourable market entry location for international investors, due to its economic and strategic positioning in the region, as well as the benefits of its geographical location. Recent changes and economic reforms, combined with po
Vietnam Briefing outlines a financial assistance package that has been issued by the government for businesses and employees affected by COVID-19
On 1 June 2021, the Ministry of Finance issued Circular 40/2021/TT-BTC providing guidance on Value Added Tax (“VAT”), Personal Income Tax (“PIT”) and tax administration for business households and business individuals. The Circular comes into effect on 1
Vietnam unveiled Decision 17, effective May 15, on vocational training support for employees participating in unemployment insurance
On 19 April 2021, the Vietnam Government issued Decree 52/2021/ND-CP providing extensions of deadlines for the payment of Value Added Tax (VAT), Corporate Income Tax (CIT), Personal Income Tax (PIT) and Government Land Rent in 2021. This Decree, which too
As globalisation advances, Vietnam is increasingly recognised as an attractive and feasible destination for foreign investors to expand or establish operations. Although Vietnam is generally open and welcoming for foreign investment, investors are often u
Even though 2020 was a challenging year for all, the business environment in Vietnam managed to overcome difficulties achieving a growth rate of 2.91% in 2020, and remained one of only a few economies to achieve positive growth.
Decree 152/2020/ND-CP (“Decree 152”) was recently released by the Vietnamese Government, coming into effect from 15 February 2021, and covers foreign individuals working in Vietnam, along with Vietnamese employed by certain foreign employers. This Decree
Vietnam amended and approved its labor code for 2021. Vietnam Briefing highlights key provisions and the impact on employers in Vietnam.
On 3 December 2020, the Ministry of Finance released Circular 105/2020/TT-BTC detailing the subjects of tax registration; structure of the tax code and tax registration documents, forms and procedures in accordance with the Law on Tax Administration 38/20
A number of new Laws take effect on 1 January 2021 in Vietnam, and all businesses operating in Vietnam should understand the implications on their businesses of these laws. Key laws include:
Deadline for the 2020 annual financial statement submission for corporate taxpayers and tax finalisation for tax-resident individuals31 March 2021 is the deadline for lodgement of the 2020 Financial S
Decree 125 details penalties for violations in tax and invoicing. Investors should understand the violations before December 5 to ensure compliance
Enterprises operating in Vietnam are required to meet thorough compliance obligations that are often complicated, time consuming and subject to continuous change by government bodies. As businesses seek to expand in Vietnam, foreign investors need to be a
Vietnam approved a 30 percent corporate income tax reduction for 2020, which will help boost cash flow for businesses affected by COVID-19.
Foreign individuals living in Vietnam are often unaware of the restrictions and processes for repatriating funds that they earn and hold whilst in country. When following the regulations set by Vietnamese authorities, including the State Bank of Vietnam (
International investors and entrepreneurs commonly undertake direct investments in existing companies in Vietnam, however, as with any investment, care needs to be taken. When assessing the value and risks of a potential acquisition target, there are proc
Vietnam's National Assembly approved the increase in personal income tax deductions for individuals and dependents for 2020.
