A Comprehensive Guide on Vietnam Audit Compliance for Foreign Companies
Reading Time: 5 minutesBefore venturing into a business in Vietnam, it’s in your best interests to understand the rules guiding business audits in the country. Understanding audit rules helps you meet legal requirements and keeps your enterprise financially healthy. Here’s a comprehensive guide for foreign-owned companies to ensure Vietnam audit compliance.
Quick Guide To Conducting Vietnam Tax Inspection For Companies
Reading Time: 4 minutesWith the evolving regulatory landscape and the critical importance of compliance, understanding the nuances of the tax inspection process is paramount. In this comprehensive guide, we delve into the key aspects of conducting tax inspections in Vietnam, providing essential insights into the purpose, scope, duration, and concluding procedures of these inspections.
What Are The Key Requirements For Preparing The Annual Financial Statement In Vietnam?
Reading Time: 5 minutesWherever you have your business incorporated, you must follow all the rules and legislation involved as it applies to taxation and accounting.
All international and local businesses in Vietnam must legally adhere to the Vietnamese Accounting Standards (VAS) in documenting fiscal transactions.
The Ministry of Finance developed the Vietnamese Accounting Standards and provides financial statement preparation, reporting, and bookkeeping guidelines. These guidelines are also industry-specific, with unique regulations for asset management, securities, and insurance businesses.
By 2025, International Financial Reporting Standards (IFRS) will replace Vietnamese Accounting Standards applied for large enterprises activities in Vietnam.
Understanding VAT Tax Refund In Vietnam For Foreign Companies
Reading Time: 4 minutesVietnam has emerged as an attractive destination for foreign companies seeking new opportunities and markets. As you navigate the complexities of doing business in this vibrant country, one key aspect you need to be well-versed in is value-added tax (VAT) and the potential for VAT tax refunds.
Import Procedure In Vietnam: Legal Process To Import And Distribute Cosmetics And Functional Foods
Reading Time: 4 minutesSetting up a restaurant is akin to crafting a delectable dish – it requires a careful blend of creativity and precision. Yet, amidst the culinary dreams, lies a legal landscape that warrants thorough navigation. For those embarking on the flavorful journey of establishing a restaurant in Vietnam, understanding the most critical legal issues is akin to selecting the finest ingredients for a signature dish.
Streamlining Steps to Obtaining a Vietnam Investment Registration Certificate (IRC) for Foreigners
Reading Time: 4 minutesAmid Vietnam’s rapid economic growth and increasing integration into the global market, more foreign investors, including parent companies, are drawn to this promising nation for lucrative opportunities, leading to a surge in company formations in Vietnam, particularly over the last decade. Notably, Vietnam allows 100% foreign ownership in businesses in a wide range of business sectors, except for several business sectors that are limited from accessing market by percentage of foreign-owned shares. E.g., Foreign investors who will invest in motion picture production shall make a capital contribution which may not exceed 51% of the legal capital.
Legality of Cryptocurrency in Vietnam
Reading Time: 5 minutesCryptocurrency has become a prominent player in the global financial landscape, and its legality is a crucial concern in Vietnam. This article dives deep into the intricacies of cryptocurrency’s legal standing in Vietnam, examining its historical journey, current regulatory framework, trading, mining, taxation, challenges, and prospects for the future.
Vietnam SME: The Road to Business Success
Reading Time: 4 minutesThe Vietnam SME covers micro, small, and medium-sized enterprises, classified by criteria such as field of operation, registered employees under state social insurance, and financial factors like annual revenue and capital.
These businesses, including medium-sized enterprises in Vietnam, remain vital, constituting 98% of all enterprises, contributing 40% to GDP, and supporting well over half of the country’s employment. The SME sector experienced significant growth in 2016, with an estimated 100,000 new businesses, most of which were largely propelled by government initiatives and reforms.
Understanding on How to Acquire a Vietnam Temporary Residence Card (TRC)
Reading Time: 6 minutesForeign individuals seeking to enter Vietnam for an extended period, often in conjunction with a work permit, must familiarize themselves with the Vietnam Temporary Residence Card (TRC) to facilitate their stay. This official document, issued by the Immigration Department of the Ministry of Public Security/ Immigration Office of the Police Department, serves as a crucial means of legalizing one’s stay in Vietnam. To acquire a TRC, applicants must meet specific requirements and submit the necessary documentation, thereby ensuring a smooth and uninterrupted stay in Vietnam. Let’s take a better look at how the process unfolds in its entirety.
The most important legal issues to consider when opening a restaurant in Vietnam
Reading Time: 4 minutesSetting up a restaurant is akin to crafting a delectable dish – it requires a careful blend of creativity and precision. Yet, amidst the culinary dreams, lies a legal landscape that warrants thorough navigation. For those embarking on the flavorful journey of establishing a restaurant in Vietnam, understanding the most critical legal issues is akin to selecting the finest ingredients for a signature dish.
