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COMPULSORY SOCIAL INSURANCE CONTRIBUTION Once the employment is engaged, both employer and employee are required to contribute Social Insurance (SHUI) on monthly basis. The Company registers SHUI unit code for SHUI contribution Foreign labor is required to contribute SHUI under separate SHUI unit code THRESHOLD FOR SHUI CONTRIBUTION Salary for SHUI contribution is based on […]
Funding through foreign loan is the most common vehicle to fulfil the needs of working capital of Vietnam-based enterprise for operation, considering the context of Vietnam’s economic development. There are three types of foreign loans, in particulars: (i) short-term loan, (ii) long-term loan and (iii) loan under deferred imported goods. Strictly controlled by the State […]
Doing business in Vietnam requires all enterprise to comply with regulatory systems, one notable of which is contributing Social Insurance (SHUI) on monthly basis. COMPULSORY SOCIAL INSURANCE CONTRIBUTION Being considered as obligation and guarantee benefit for employee during their employment, SHUI scheme is designed to elevate this purpose. SHUI includes three key elements, in particulars: […]
Value-Added Tax (a.k.a VAT) is a kind of tax indirectly applying on goods and services (including goods and services purchased from organizations and individuals overseas) used for the purposes of production, trading and consumption in Vietnam. DEFINITION VAT taxpayers shall be organizations and individuals producing and trading VAT taxable goods and services in Vietnam, regardless […]
Invoice (a.k.a VAT invoice or “Red Invoice”) is one of significant supporting document in terms of accounting and tax declaration for all enterprises when doing business in Vietnam. VAT invoice is required to register with tax authority prior issuance. The Company are free in designing e-invoice template following their desires. However, there are certain information […]
Doing business in host country involves with statutory compliance, where the enterprise is required to fully comply with periodical filings and submitting tax returns. Compliance Calendar is designed and aims to provide deadline of statutory report. Based on set schedule, the company can arrange for tax filings and submission on time in year 2023. Link […]
Doing business in a host country and earning income would revolve with taxation, and it is absolutely similar for all enterprise operating theirs business in Vietnam. Initial tax registration with the tax administrative department is treated as sending “greetings” from new-born company to the competent authority. The initial tax registration involves with: Accounting method and […]
Being considered as annual registration fee and paid in commencing of the year, Business License Fee (BLF) is required to be declared and paid when the company’s establishment is completed. BUSINESS LICENSE FEE LEVEL BLF level in Vietnam is determined based upon its registered charter capital, with details are elaborated as below: Level Charter Capital […]
Heading to non-cash etiquette in business environment, opening bank account for banking transaction is a must-do task prior commencing operation. E-banking, gradually, plays a key role and is utilized as a functional tool with multiple related services to facilitate all enterprises in doing business. Not aside from this trend, Vietnam-based enterprise is compulsory to open […]
Different from other country where the signature is used as a typical signal for “tie the knot” in business engagement, in Vietnam, the stamp specimen (or refer to the chop or the stamp) together with the physical signature, are fully formed the legal execution in terms of paperwork for business activities. Stamp consist of stamp […]