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WEBINAR EUROCHAM | INVESTMENT IN VIETNAM:
REQUIRED COMPLIANCE PROCEDURES

WEBINAR EUROCHAM | INVESTMENT IN VIETNAM:
REQUIRED COMPLIANCE PROCEDURES

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.

Investment in Vietnam - Required compliance procedures

MANAGE REQUIRED BUSINESS RECORDS

Business records management is a mandatory requirement to manage and comply with the business’s compliance procedures required by the competent state agency as well as facilitating effective and stable business administration.

Why should you keep good business records?

  • 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
  • Helps you plan for tax payments
  • Helps identify the strengths and weaknesses in your business
  • Helps manage changes and improvements in your business
  • Will help you plan to meet financial commitments such as paying creditors or employees
  • Makes it easier to get a loan or sell your business
  • Avoids over/under tax payments
  • Helps identify if your business is liable for paying VAT to the tax department
  • Makes it easier to distribute profits to shareholders as dividends or for partnerships where both profits and losses have to be shared

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
  • You collect and store the compliance reports submitted to government agencies
  • VIVA coordinates with you to review, evaluate, complete each type of document and scans into e-files monthly, quarterly and annually to save on computers

MANAGE EMPLOYMENT RELATIONS

Relations between employees and company in signing and implementation of labor contracts

  • Calculate salaries, allowances, bonuses, incentives and other payments
  • Calculate salary for new and resigned employees
  • Implement changes/adjustments (if any)
  • Reconcile/confirm payroll with client
  • Make salary payments to employees, distribute online pay slips to employees and paper slip for workers
  • Respond to employees’ questions

Relations between company and Insurances and Labor agencies in reporting and payments

  • Make and submit monthly SHUI increase/decrease reports
  • Get employees’ SI booklet finalized/closed
  • Register for new/adjusted SI documents, HI cards for employees
  • Make and submit SHUI benefit reports sick, maternity, labor accidents, occupational diseases, death
  • Make payment of SHUI benefits to employees
  • Reconcile SHUI data with the social insurance agency
  • Make payment of SHUI to the social insurance agency
  • Register and follow up the status on SHUI declaring software/electronic signature.

Relations between company and Tax Department in reporting, payments and annual settlement

  • Register PIT codes for new employees and their dependents (if any)
  • Declare and submit monthly PIT reports
  • Explain employees’ questions related to PIT
  • Make payment of PIT amount to the tax authorities
  • Register and follow up the status of PIT declaring software/electronic signature

ACCOUNTING – AUDITING

Under Article 15 of Decree No. 17/2012/ND- CP dated March 13, 2012, guiding the implementation of 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 subjected to audits in accordance with relevant laws
  • Audits are also conducted at the request of customers, partners in bidding and business cooperation, etc

What are the benefits of the audit of financial statements?

  • Satisfying and complying with requirements of state authorities
  • Assisting in identifying risks and ineffectiveness in operation and usage of resources
  • Creating confidence for information users, including tax authorities, banks, partners, investors, etc. For example, with audited financial statements with an unqualified opinion, a business can be categorized as a highly credited customer and entitled to more preferential credit services and significantly reduced interest
  • Completing the business valuation documents and the business credit documents

BUSINESS CONTRACTS AND IMPORTANT TRANSACTIONS

  • Knowing your customer and due diligence
  • Preparing and implementing of business contracts
  • Managing deals

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.

 

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.”

 

 

Read more:

  1. Investment in Vietnam: Market entry procedures
  2. Investment in Vietnam: Restructuring – Acquiring and Selling a company
  3. Investment in Vietnam: New Laws and Regulations
  4. Investment in Vietnam: Managing the required compliances for a company
  5. Investment in Vietnam: Managing the required compliances for an foreign employee

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