Our collection of resources based on what we have learned on the ground
Resources
Q&A
What are the general accounting treatments on fixed assets in Vietnam?
- December 2012
- Free Access
All fixed assets of an Foreign Invested Enterprise (FIE) should be recorded. There are specific regulations that must be followed regarding what will be capitalized. Any items currently under construction should be transferred into fixed assets o...
Q&A
What are the general accounting treatments on pre-operating expenses in Vietnam?
- December 2012
- Members Access
Expenses and exchange losses for FIEs during the start-up period can be charged to the profit and loss account in one lump sum during the first month, or amortized within 36 months after commencing operations. Pre-operating expenses refer to all rele...
Q&A
What is the basic information to include in the representative office report in ...
- December 2012
- Free Access
The information to be included in such report would be: Full name Address Telephone and fax number Email (if any) Bank account details of a bank registered and operating in Vietnam. In the case that foreign businesses have only one represen...
Q&A
What are the mandatory annual reports for Foreign-owned enterprises (FOE) in Vie...
- December 2012
- Free Access
Report on Production and Business Activities Actual operating business lines Labor (number, turnover, etc.) Labor income and employer payments of social insurance, health insurance, unemployment insurance, and trade union fee Production an...
Q&A
What is the difference between Foreign-owned enterprise (FOE) and Representative...
- December 2012
- Free Access
As the legally permissible business lines for Representative Offices (ROs) differ from foreign-owned entities (FOEs), namely that ROs are not allowed to directly conduct profit-generated business activities, therefore the annual reporting requirement...
Q&A
How is corporate income tax defined and how should such tax be paid in China?
- December 2012
- Members Access
Corporate income tax is paid by enterprises that generate income, whether it is derived from production, business operations, and other sources. Currently, it is at a rate of 25 percent currently, for both foreign and domestic enterprises. For domes...
Q&A
What requirements are in place to be eligible for tax incentive for high-tech en...
- December 2012
- Members Access
High-tech enterprises can enjoy a reduced rate of 15 percent, given they are approved by relevant tax authorities and qualified the following conditions: The enterprise possesses core intellectual property rights in China; The products or service...
Q&A
What are the Annual Financial Report Contents in Vietnam?
- December 2012
- Free Access
Annual Financial Report contents include, statement of income, statement of financial position, statement of changes in equity (if any), statement of cash flow, balance sheet and notes.
Q&A
What needs to be done for social insurance finalization at year-end in Vietnam?
- December 2012
- Members Access
As social insurance, health insurance, and unemployment insurance are calculated and paid monthly, the only related activity that must be conducted at the end of the year is the distribution of health insurance cards to employees. Bearers of compulso...
Q&A
Why is Hong Kong holding company an attractive option for foreign investors inve...
- December 2012
- Free Access
There are a number of reasons: Geographical proximity Low tax rate – only 16.5 percent for corporate income tax and 15 percent for partnerships and sole traders Territorial source principle of taxation – only income derived fro...
Q&A
How is the corporate income tax defined in India?
- December 2012
- Free Access
Corporate income tax is levied on the income computed in accordance to the Income Tax Act. For domestic companies, i.e.: companies registered in India, it stands at a rate of 30 percent; for foreign companies, i.e.: companies registered outside of In...
Q&A
What is minimum alternative tax in India?
- December 2012
- Members Access
Minimum alternative tax is the tax, which is applicable to companies that assess at 18.5 percent of the adjusted book profits. The raison d’être of this tax is that to minimize the tax liability, many profitable Indian companies, who are ...
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