Our collection of resources based on what we have learned on the ground
Resources
Q&A
What are the two broad categories which make up labor laws in India?
- May 2016
- Members Access
Labor laws are divided into those for managerial personnel and workmen, and the main difference is the contract used in each case. Managerial personnel are employees who perform managerial, administrative and supervisory functions. They are governed ...
Q&A
What are some key points which companies should take into account regarding the ...
- May 2016
- Members Access
In India, the workplace set up is often hierarchical with clear boundaries between management levels and a combination of western and eastern business etiquette. Honor and respect are vitally important, especially during discussions or in conducting ...
Q&A
What are some due diligence checks which need to be conducted for business integ...
- May 2016
- Members Access
Aside from country-specific considerations, there are several critical HR due diligence checks that need to be performed if a foreign company is looking to establish a JV, business alliance or secure an M&A. These include assessing the HR policie...
Q&A
Which governmental bodies and general restrictions should be noted with regard t...
- May 2016
- Members Access
The Ministry of Finance (MOF) and State Bank of Vietnam (SBV) are two main governmental bodies investors have to take note of. MOF has the power to adjust tax rates and regulate remittances, whereas SBV is in charge of regulating banking and fo...
Q&A
Prior to remitting profits, investors may be faced with withholding tax which is...
- May 2016
- Members Access
Currently remittances are segmented into the following four categories: dividends, interest, royalties, and technical service fees. For dividends, no tax is currently imposed unless paid to individuals, whereas interest paid to a non-resident is subj...
Q&A
What are the obligations companies have to fulfill before being able to remit pr...
- May 2016
- Members Access
Companies have to make the following taxes before being able to remit profits: CIT which now has been reduced to 20% for both local and foreign enterprises, except for some special industries; VAT which is imposed at three different rates namely 0%, ...
Q&A
What are the main restrictions when selecting and operating a foreign currency a...
- May 2016
- Members Access
Institutional selection is one of the pressing issues here since investors are limited to the selection of a single account with a bank that has been licensed by the SBV. Only banks with this license can operate a foreign currency account along with ...
Q&A
Why is it best to set up a foreign currency bank account after investors enter V...
- May 2016
- Members Access
A foreign currency bank account has to be utilized for all foreign currency transactions carried out within the country. Further, there are a list of activities that require a foreign currency account which include receipt of charter capital up until...
Q&A
What are some of the restrictions placed on remitting profits in Vietnam?
- May 2016
- Members Access
There are a number of restrictions enforced upon remitting profits. For example, under Vietnamese law, profits may only be remitted once per year. Furthermore, dividends may not be carried out during a year in which a company has not turned a profit....
Q&A
What are the categories of taxes applicable to foreign businesses in ASEAN?
- May 2016
- Members Access
There are numerous taxes categories which will be applicable for foreign businesses in ASEAN, including Corporate Income Tax(CIT), Personal Income Tax(PIT), and indirect taxes such as Value Added Tax (VAT) and Goods and Services Tax (GST). While PIT ...
Q&A
How does Personal Income Tax work in different countries in ASEAN?
- May 2016
- Members Access
Except for Brunei which employs no Personal Income Tax (PIT) and Cambodia a fixed 20 percent rate, most ASEAN members apply a progressive PIT regime wherein an individual is taxed according to how much they earn. Such regime results in individuals wh...
Q&A
What is withholding tax and what are the three types of it?
- May 2016
- Members Access
A withholding tax is a tax applied to funds that companies wish to send aboard. Countries in Asia typically divide withholding tax into dividends, interest, and royalties payments, with the amount of each varying considerably in each country. These a...
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