Linh Do

Showing 12 of 20 articles
Published by |on 1 September, 2022

Following the newly issued Decree 58, 2022 dated 31 August 2022 on management of INGOs’ operation in Vietnam, INGOs in Vietnam have following responsibilities (Article 21): Register and operate, comply with the provisions of Vietnamese law. Coordinate with Vietnamese partner agencies in implementing activities according to the registered areas and fields specified in the Registration […]

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Decree 58/2022/ND-CP dated 31 August 2022 (Decree 58, 2022) replaces Decree 12/2012/ND-CP dated 1 March 2012 regulating registration and operation management of International Non-governmental Organisations (INGOs) in Vietnam. According Decree 58, 2022, INGOs in Vietnam have following rights: Enjoy benefits, tax incentives, import goods and work permits; Receive fund in either foreign currency or Vietnamese […]

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Following the recent laws and regulations on social insurance (SI) and health insurance (HI), expatriates working in Vietnam meeting the below conditions are subject to compulsory SI and HI contribution: Having work permit, or practicing certificates, practicing licenses issued by the local authority; and Signing indefinite-term employment contracts or employment contracts valid for one year […]

Published by |on 24 August, 2022

TAXATION REGISTRATION What are the main characteristics of the Business Licence Fee (BLF) in Vietnam? Similar to other business entities in Vietnam, FIEs are required to pay BLT on the annual basis at the beginning of a calendar year. The tax amount is based on the entity’s legal capital/ investment capital as follows: Levels of […]

Published by |on 30 June, 2022

Twenty-six (26) Vietnamese Accounting Standards (VAS) are issued by the Ministry of Finance (MOF) following the Decision 149, 2001 (Batch 1 – four standards), Decision 165, 2002 (Batch 2 – six standards), Decision 234, 2003 (Batch 3 – six standards), Decision 12, 2005 (Batch 4 – six standards), Decision 100, 2005 (Batch 5 – four […]

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VN GAAP which is more than well-known by the name Vietnamese Accounting Standards and System is not one set of accounting principles but is dispersed in laws and regulations. VN GAAP consists of various legal documents including accounting law, accounting standards and their interpretation, financial management regime, accounting regime, and guidance on the accounting treatment […]

Published by |on 29 June, 2022

Investors of a foreign-invested company in Vietnam who lend money to their own company can have their loans converted into contributed capital. Besides the loans must be either registered or reported to the State Bank of Vietnam depending on whether short-term or long-term loans as regulated by the regulation on the foreign loans and borrowings, […]

Published by |on 24 June, 2022

As stated in the Building Bridge – Bread for the World, Issue No. 1, 2020 – an update for auditors auditing projects funded by Bread for the World, the “Related party transactions (RPTs) are a major source of fraud and misuse of funds in the NGO sector”. From our experiences in delivering the external audit […]

Published by |on 21 June, 2022

In accordance with Decree 38, 2022 regulating the minimum wages applying to employees working under the employment contract, the minimum wages by region are as follows: Regions Prior to 1 July 2022 (VND/ month) 1 July 2022 onwards (VND/ month) Region I 4,420,000 4,680,000 Region II 3,920,000 4,160,000 Region III 3,430,000 3,640,000 Region IV 3,070,000 […]

Published by |on 8 June, 2022

FCT is regulated under Circular 103/2014/TT-BTC issued by the Ministry of Finance dated 6 August 2014. Who are considered foreign contractors? Foreign contractors are: those practice or do business in Vietnam or generate income in Vietnam on the basis of a contract, agreement, or commitment with a Vietnamese party, or with another foreign party doing […]

Published by |on 28 May, 2022

Vietnamese Standards on Auditing (“VSA”) is set up in compliance with International Standards on Auditing (“ISA”). So far, 47 (forty-seven) VSAs have been issued by the Ministry of Finance (MoF) (Circular 214, 2012, Circular 65, 2015, Circular 66, 2015, Circular 67, 2015, Circular 68, 2015, Circular 69, 2915, Circular 70, 2015). These standards were fully […]

Published by |on 26 May, 2022

Together with the rapid development of the economy, Vietnam enterprises have become one important connection in the global supply chains of products and services. As the result, tax compliance in Vietnamese enterprises relating to transferring pricing (TP) has been broadly discussed at tax conferences in recent years. This article addresses the ways to identify the […]

Showing 12 of 20 articles