Dec. 24 – The new issue of Vietnam Briefing Magazine, titled Annual Compliance and Audit, is out now and temporarily available as a complimentary PDF download on the Asia Briefing Bookstore.
In Vietnam, the standard tax year is typically the calendar year, and therefore the deadline for foreign-owned entities to submit audited financial reports to the relevant authorities is March 31. These reports are generally submitted to licensing authorities (i.e. Department of Planning and Investment or the board of management of an industrial zone/export processing zone/economic zone/hi-tech zone), as well as the Statistical Office of the city or province where the company is located.
As the legally permissible business lines for ROs differ from foreign-owned entities (namely that ROs are not allowed to directly conduct profit-generated business activities), the annual reporting requirements are different for ROs as well. Prior to the final working day of January in the following year, ROs must submit a report their operations during the previous year to the Department of Industry and Trade in the province in which the RO is based.
In this issue of Vietnam Briefing, we address a number of annual compliance topics relevant to foreign investors in Vietnam. Namely, annual reporting for foreign-owned enterprises and representative offices, as well as annual tax finalization (corporate income tax and personal income tax), and annual financial statements (structure, general accounting treatments, deductible expenditures, submission).
In this issue:
- Annual Reporting for Foreign-owned Enterprises
- Annual Reporting for Representative Offices
- Annual Tax Finalization and Annual Financial Statements for FOEs
Annual Compliance and Audit is out now and temporarily available as a complimentary PDF download on the Asia Briefing Bookstore.
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
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An Introduction to Doing Business in Vietnam
This new 32-page report touches on everything you need to know about doing business in Vietnam, and is now available as a complimentary PDF download on the Asia Briefing Bookstore!