[WEBINAR] REPRESENTATIVE OFFICE OPERATION IN VIETNAM – Risk management on operation

Webinar representative office - Risk management

[WEBINAR] REPRESENTATIVE OFFICE OPERATION IN VIETNAM – Risk management on operation

415 webinar 01 - [WEBINAR] REPRESENTATIVE OFFICE OPERATION IN VIETNAM – Risk management on operation

  • Time:  15th JAN 2021 | 09:30 – 11:30 AM
  • Practice and lessons on operating representative office in Vietnam

Properly managing when operating foreign representative offices in Vietnam not only helps your team to meet demands from the parent company but also avoid legal risks, cost-saving, competitive advantage, keep your good standing during your business in Vietnam.

We would like to share webinar practical experiences / risky cases on required compliance procedures for a representative office in Vietnam:

MANAGE RISKS IN EMPLOYMENT RELATIONS

  1. Without working permit for expats.
  2. Violation in registration internal labor.
  3. Without paid medical insurance for expats.
  4. Labor contract without proper terms and conditions.
  5. Improper labor titles (not in line with the office scopes)
  6. Without required employee profiles and monthly payrolls.
  7. Violation in declare labor use and compulsory insurances.
  8. Without annual labor reports to competent state agencies.
  9. Without required tax completion certificate for the chief and expats.

MANAGE RISK IN TAXATION

  1. Violation in declaration tax for expats.
  2. Violation in receive incomes from other parties.
  3. Violation in apply tax exemption / payable amount.
  4. Violation in methods of tax declaration and settlement.
  5. Violation in Lending / borrowing money from third parties.
  6. Violation in using personal bank accounts for office payment.
  7. Violation in transactions / activities which are not allowed for office activities.
  8. Violation in accounting, cashbook, petty cash, invoices and records for tax inspection.
  9. Violation in lawful invoices for some paid expenditures. Some paid amount will be recognized as benefit of employees or the chief and it is taxable.

MANAGE RISK IN OFFICE LICENSE AND OPRATION

  1. Violation in registration and declaration new office location.
  2. Fail to renew / extend the office license before the expired date.
  3. Violation in annually operation reports to the Department of Industrial and Trade.
  4. Violation in amending/ updating the content in the office license when there are changes from parent company.
  5. In case of dissolution, not closure the office license completely or fail to manage the final tax settlement procedures.
  6. Operate beyond the allowed scope of activities/ permit: Buying machines / materials / equipment… for manufacturing lines; inventory, directly create sale and profitable activities.

 

VIVA BUSINESS CONSULTING

Contact: Mr. Hieu/Tony

Email: hieunm@vivabcs.com.vn

Phone: 0789774445

 

VIVA has been an in-depth consultant on business compliance procedures in Vietnam since 2006, based on our professional - integrated background in Business laws - Accounting and corporate finance - Tax management - Labor relation and payroll – Business administration procedures. VIVA offers exclusive services in an integrated tailor-made, consist of 5 specialized-expertise platforms and the inheritance experience up to hundreds of years for every job.

Our extensive expertise and management system that facilitates us to connect local resources and be ready to deliver exclusive solutions that exceed all standard limits and satisfy all expectations of our clients.

 

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[WEBINAR] REPRESENTATIVE OFFICE OPERATION IN VIETNAM – What are the compliance procedures that you shall keep in mind?

Last Updated on March 29, 2021