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If you are an entrepreneur or a small business owner in Vietnam, you know all too well that overhead costs can sometimes be a huge burden to your business. Overhead costs of business are expenses that come from the daily operations of running a business. Reducing overhead costs is critical, especially for startups, when you … Continued
FDI reports in Vietnam are different than quarterly tax reports, annual financial statements, or annual audits. Fines for not being in compliance can be quite high.
The standard Vietnam VAT rate is 10%, however, as a result of the economic hardships brought on by the pandemic and subsequent lockdowns, on January 11, 2022,The National Assembly approved a Resolution on fiscal and monetary policies to support the Socio-Economic Development and Recovery Program, which will be in force until December 31, 2023. In … Continued
All the regulations and requirements you need to consider before changing your business entity’s name in Vietnam.
This simple FDI audit is required of every foreign company doing business in Vietnam. The audit is due on March 31st of the calendar year. This is based on a new investment law introduced in 2021, Law 61/2020/QH14 on Investment, Decree 31/2021/NĐ-CP, the investment law and the guideline for implementation Decree took effect on the 1st … Continued
E-invoicing unquestionably plays an essential role in digitalising business operations in Vietnam. The use of e-invoice is very common all over the world and in an effort to attract more foreign investments, Vietnam has also adopted the system. Read More About Cekindo’s E-invoicing Services The government in Vietnam has issued Circular 68 to give guidance … Continued
It is certain that there will come a point when many foreign entrepreneurs in Vietnam wonder if they should hire a business consultant due to the daunting rules and regulations and new business environment that take away their precious time and energy. Many businesses in Vietnam these days have hired business consultants to develop the … Continued
Decree 125/2020/ND-CP dated 19/10/2020 is a relatively newly issued Vietnam Tax Law, which has been effective since December 5, 2020. The new law states several penalties and the resulting fines for the violation of certain tax and invoice regulations. Find Out How Cekindo can Help with Corporate Tax & Compliance Outsourcing Services Thus, ensuring tax … Continued
Vietnam provides a conducive environment for international investors for doing business. However, the government requires all businesses to comply with financial requirements, including reports, and stay updated on any changes in the law, which do happen more than you might expect. A financial statement is the most crucial component of a financial report, and it … Continued
Running a successful and sustainable business in Vietnam means that your business must comply with all related accounting and tax laws and regulations in the country. The most important part that you have to pay attention to for accounting law compliance is the deadlines. Missing the tax and accounting deadlines will jeopardise your business tremendously. … Continued
Recruitment is closely related to successful employee onboarding in Vietnam. In this article you can learn how to successfully onboard new hires.
Foreign contractor tax (FCT) is a specific kind of tax in Vietnam. The tax applies to foreign contractors, entities or individuals, who perform business activities and receive income in Vietnam. FCT is not a separate tax but it combines corporate income tax (CIT) or personal income tax (PIT) and value added tax (VAT) for the … Continued
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