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THE CHANGE IN THE LAW ON SOCIAL INSURANCE POLICY SINCE 01/01/2018
The Law on Social Insurance 2014 takes effect from 01/01/2016; However, many of the important provisions until January 1, 2018 officially came into force. Here, KIM HUC synthesis for you easy to follow: 1. Two more subjects must participate in compulsory social insurance From 01/01/2018, besides those who pay compulsory social insurance in accordance with the current regulations, the following two subjects must also participate, specifically: Persons working under labor contracts with a term ranging from one month to less than three months; - Foreign laborers who are working in Vietnam and who have work permits or practice certificates or practicing certificates granted by competent Vietnamese agencies may participate in compulsory social insurance under the provisions of Goverment. (Based on Clause 1, Article 124 ... -
CERTIFICATE OF ORIGIN
Certificate of Origin is stipulated in Decree No. 19/2006/NĐ-CP providing detailed guidelines on the Law on Commerce on Origin of goods, Circular No. 07/2006/TT-BTM guiding the procedures for issuance and management of the Certificate of Origin and some other sub-law documents. According to Clause 4 Article 3 of Decree No. 19/2006/NĐ-CP, Certificate of Origin is: “a documentary proof issued by an organization of a country or a territory of exportation of a goods on the basis of relevant regulations and requirements on origin, clearly identifying the origin of such goods”. Especially when Vietnam export a large quantity of goods each year, Certificate of Origin is one of the most necessary documents during contracting process. Types of Certificate of Origin: - ... -
ESTABLISH FOREIGN RESTAURANT IN VIETNAM
Currently, doing catering business is a potential investment sector which is growing rapidly. Tastes and trend of Vietnamese diners are diverse and variable. They are eager to try new dishes. In large cities, it is not hard to find restaurants owned by foreigners which provides their traditional dishes of many nations such as: France, Italy, Japan, Korea, Singapore, Thailand, China, India… In accordance with the Schedule of Specific Commitments in Services of Vietnam in WTO, catering services (CPC 642) and beverage (CPC 643) do not contain any limitation on foreign investors. That means foreigners are allowed to establish 100% foreign-owned company to provide catering services in Vietnam. There are two options foreign investors may choose: - Establish foreign-owned company providing ... -
PERSONAL INCOME TAX AUDIT SERVICES IN VIETNAM
In business activities of enterprises, payment for employees take a huge portion in the budget. To make the levy of personal income tax more convenient, the obligations to perform tax audit for this kind of tax belongs to enterprises, as prescribed by the law. According to the law on tax administration, tax audit is determination of payable tax amount of a taxation year or a period from the beginning of the taxation year to the time of termination of taxable activities or from the commencement to the termination of taxable activities. According to the Law on Personal income tax 2007 (adjusted and supplemented in 2012) and Decree No. 83/2013/NĐ-CP providing guidelines for the Law on Tax administration: - Organizations and ... -
THINGS ENTERPRISES HAVE TO DO AFTER ESTABLISHING
When receiving the Certificate of Business registration from Business Registration Division, some enterprises are in a hurry to operate but some others want to wait for more suitable time to start their business. All of them seems to forget that they still need to carry out some administrative procedures to obey the legal regulations. As soon as the Certificate is issued, company’s information has been posted on the system of the National Business Registration Office and managed by the local tax authority, so the company has to made initial tax declaration. The following article may be helpful for some enterprises to know the specific obligations and avoid being fined by the tax office. What to do after receiving the Certificate ... -
ENTERPRISE INCOME TAX CONSULTING SERVICES IN VIETNAM
Enterprise income tax is a kind of tax calculated based on incomes form business activities of enterprises and other incomes, which are often incomes earned from property transfer. Formula: Payable enterprise income tax = [Taxable incomes – (Tax-exempt incomes + Losses carried forward from the previous year)] × Tax rate Taxable incomes = Revenue – Deductible expense + Other incomes From January 1, 2016, enterprise income tax rate is 20%. Tax declaration: Enterprise income tax declaration are procedures for provisionally calculating the amount of tax that enterprise may have to pay. This is a duty belongs to enterprises to create grounds for tax assessment. Enterprises have obligations to declare tax and submit the quarterly tax declaration form to tax agencies ...
