Our collection of resources based on what we have learned on the ground
Resources
Q&A
How is withholding tax defined in China?
- December 2012
- Free Access
Withholding tax is levied on passive income – such as dividends, interests, royalties, bonuses, other equity investment gains, rentals, transfer of property – received by non-resident enterprises from China. It is levied at a rate of 10 p...
Q&A
What are the general accounting treatments on revenues in Vietnam?
- December 2012
- Members Access
The revenue to calculate taxable income is the total proceeds from the sale of goods, processing amount, and services supply amount, including price subsidies, surcharges or anything else that enterprises are entitled to enjoy regardless of the colle...
Q&A
What are the general accounting treatments on reserve funds expenses in Vietnam?
- December 2012
- Free Access
Appropriations to all funds should be made in accordance with the articles of association and a board resolution. Provision for reserve funds must be computerized and strictly follow guidance from the Ministry of Finance.
Q&A
How is stock take carried out in Vietnam?
- December 2012
- Free Access
In conducting stock take, the following steps should be followed: Observe whether the stocks are neatly kept, whether bins are properly labeled, and whether large items are properly piled and marked. Check that counting is systematic and that pre...
Q&A
How human resources modifications should be reported in Vietnam?
- December 2012
- Free Access
The annual representative office (RO) report should state the policies which an RO applies to employees such as salary, bonus, insurance and other operations. If there are any changes related to the number of employees in a RO, the RO must report th...
Q&A
What is taxable for corporate income tax (CIT) and when such tax report should b...
- December 2012
- Members Access
Taxable income includes any income from production, trading activities, services and other income, whether or not such income has been generated in Vietnam. Although corporate income tax (CIT) is declared and paid quarterly, enterprises must still c...
Q&A
What does corporate income tax (CIT) include in Vietnam?
- December 2012
- Free Access
A Corporate Income Tax (CIT) return should include the following: CIT finalization statement (form 03/TNDN) issued with Ministry of Finance circular 28/2011/TT-BTC on February 28, 2011; The annual financial statements and other related documents;...
Q&A
What are the enterprises receiving corporate income tax deduction in Vietnam?
- December 2012
- Free Access
There are two types of enterprises that can receive such deduction: Small and medium and enterprises (excluding those that are involved in lottery, real estate, securities, finance, banking, or insurance; businesses that are producing goods or pro...
Q&A
What are the personal income tax (PIT) finalization documents in Vietnam?
- December 2012
- Free Access
The Personal Income Tax (PIT) finalizing document would include the following items: PIT Finalization Statement The list of taxable income and tax deducted from salaries and wages of the resident individual who is engaged in an employment contrac...
Q&A
How can profit be remitted from Vietnam to other countries?
- December 2012
- Free Access
Profit remittance can be done following tax finalization, or when terminating the investment project in Vietnam, in cash or in kind, if the foreign-owned entity has not accumulated losses. Offshore remittance of profits in cash must comply with the l...
Q&A
What statutory audited reports for Foreign-invested enterprises (FIE) include in...
- December 2012
- Members Access
In general, statutory audited reports for Foreign Invested Enterprises (FIEs) in Vietnam should include 3 parts: Summary of the main business activities of the FIE, including the investment license number, registered capital, name and history of B...
Q&A
What are the general accounting treatments on trade debtors/trade creditors in V...
- December 2012
- Free Access
Enterprises should provide reasonable debt provisions according to the ending balance of their accounts receivable and must comply with the instructions from MOF. Balance confirmations are used as an important factor, especially on foreign currency o...
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