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FDI COMPANIES IN VIETNAM
THE YEAR-END COMPLIANCES 2021

FDI COMPANIES IN VIETNAM
THE YEAR-END COMPLIANCES 2021

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

FDI companies in Vietnam - The required compliances for year-end 2021

FDI companies in Vietnam shall be always fully complied with local business laws and regulations, keep their business advantages and good standing for long-term operation.

THE YEAR-END REQUIRED COMPLIANCES OF 2021

What you shall keep in mind?

  • Corporate income tax settlement and payment
  • Personal income tax settlement for local and foreign employees
  • Audited financial statements
  • Price transferring documents
  • Review and renew labor contracts
  • Labor reports and investment project reports to related competent state agencies.

Please feel free to contact our experts for your one-stop solutions.

MORE REQUIRED COMPLIANCE PROCEDURES

BUSINESS RECORDS MANAGEMENT

Why should you keep good business records?

  • Business records management is a mandatory requirement
  • Helps to maximize all the expenses you claim and reduce your tax obligations
  • Will help out, should you be investigated by local competent state agencies
  • Makes it quicker to prepare your accounts at year-end
  • Gives you the information you need to run your business and help it grow

How does VIVA help you in keeping good business records?

  • VIVA creates a business records system in form of standard folders
  • VIVA knows how to transfer, guide you to collect and store daily documents
  • Based on these documents, the parties coordinate to prepare and submit compliance reports to tax authorities, insurance agencies, banks and partners

MANAGE THE EMPLOYMENT RELATIONS

  • Relationsbetween employees with the company in signing and implementation of labor contracts.
  • Relations between the company with Compulsory insurances and labor agencies in reporting and payments.
  • Relations between the company with Tax Department in reporting, payments and annual settlement.

And other employment relations:

  • Internal labor regulations,
  • Salary scales and policy,
  • Collective agreement…
  • Employee profile,
  • Performance of labor contracts,
  • Modification, supplementation and termination of labor contracts,
  • Payroll procedures,
  • Working time and rest time,
  • Labor discipline and material responsibilities,

ACCOUNTING – AUDITING

Accounting

  • Business records management
  • Chart of accounts: list, definition, policies
  • Preparing accounting books according to VAS
  • Preparing financial statements
  • Independent auditing
  • Submitting financial statements to the local competent state agencies
  • Budgeting
  • Internal management and risk management

Taxation

  • VAT declaration
  • PIT declaration
  • CIT declaration
  • Foreign Contractor tax, Avoid double tax, Anti price transferring, Investment capital tax…
  • CIT finalization
  • PIT finalization
  • Representative on behalf for any query or requirement from local Tax Department
  • Tax settlement, tax inspection, tax completion certificates

Auditing

According to the Independent Auditing Law, the following entities are required to have their annual financial statements audited:

  • Foreign-invested businesses.
  • Credit institutions incorporated and operating under the Law on Credit Institutions, including foreign bank branches in Vietnam;
  • Financial institutions and insurance businesses;
  • Public companies, issuers and securities traders;
  • Other businesses and organizations are subjected to audits in accordance with relevant laws.

Audits are also conducted at the request of customers, partners in bidding and business cooperation, etc.

RESTRUCTURE – ACQUIRING AND SELLING A COMPANY

Acquiring and selling

  • KYC and due diligence procedures
  • Draft for the MOU and contracts
  • Manage procedures of transferring

Transformation

Transferring shares

  • From individual investors to individual investors
  • From individual investors to entity investors
  • From entity investors to individual investors
  • From local investors to foreign investors or vice versa.

Dissolution of a company and transforming to others

There are 03 key steps in dissolution a business entity in Vietnam:

  • Preparing for the official dissolution decision and applications, and submitting to the competent state agencies for closing any further obligation.
  • To collect, complete the compliance business records and arrange for any certificate of obligations completion.
  • Upon the certificates of obligations completion, the business entity will close the bank accounts, return the IRC, ERC, legal stamp as final step dissolution. This is the final paperwork as completed.

ABOUT VIVA BUSINESS CONSULTING

VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services, VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

Thanks to a unique combination of local expertise and global experiences, VIVA BUSINESS CONSULTING is the one-stop solution for the required compliance procedures in Vietnam for foreign investors and experts. We are still here since 2006s because of our thousands of satisfied clients and our employees. Our staying power is a testament to the professional resources, and so much more.

 

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

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