Lowering company income tax in Vietnam is an important aspect of financial management for businesses operating in the country. By reducing tax liabilities, companies can improve their bottom line and allocate resources more effectively to support growth and expansion. Here are several strategies that companies can use to lower their income tax in Vietnam: Utilize...Read More

Angel investing, private equity and venture capital are all forms of investment that companies can access to raise capital. While these financing methods are similar, they differ in several ways, including the type of company they target, the level of investment, and the amount of involvement that investors have in the company. Angel Investing: This...Read More

A franchise contract is a legal agreement between a franchisor (the owner of a trademark, business model, and trade secrets) and a franchisee (the person who wants to own and operate a franchise business). The contract outlines the terms and conditions of the franchise relationship and ensures that both parties understand their rights and responsibilities....Read More

There are several sources of financing a company, each with its own pros and cons. The right financing source for a company will depend on its specific needs, goals, and circumstances. Here are some of the most common sources of financing: Bank loans: Bank loans are a traditional and popular form of financing. They offer...Read More

Vietnam Accounting Standards (VAS) and International Financial Reporting Standards (IFRS) are two widely recognized sets of accounting standards used to report financial statements of businesses. While VAS is developed and issued by the State Securities Commission of Vietnam, IFRS is issued by the International Accounting Standards Board (IASB). The adoption of IFRS by countries worldwide,...Read More

IFRS (International Financial Reporting Standards) are a set of accounting standards developed by the International Accounting Standards Board (IASB) to provide a common language for financial reporting globally. IFRSs are designed to help companies prepare financial statements that provide a clear and transparent picture of their financial performance, position and cash flows. IFRSs are widely...Read More

Vietnam has been one of the most promising countries in Southeast Asia for foreign investors, with its rapidly growing economy, young and skilled workforce, and favorable business environment. This has been reflected in the statistics of company incorporations in 2022 in Vietnam, which has shown a significant increase compared to previous years. According to the...Read More

The process of obtaining a visa, temporary resident card, and work permit in Vietnam can be a challenging and time-consuming task for individuals, schools, and employers. With the growing interest in Vietnam as a destination for work, study, and travel, the government has implemented stricter regulations and procedures to monitor and control the entry of...Read More

As the global economy continues to evolve, the demand for skilled and talented workers is increasing rapidly. In response, many universities and employers are seeking new and innovative ways to develop their students and employees through internships. Vietnam is an increasingly popular destination for internships, offering a unique blend of culture, business opportunities, and natural...Read More

Unemployment has been a major concern for the Vietnamese government and society as a whole. With a rapidly growing economy and population, ensuring employment opportunities for all citizens has become increasingly important. In this article, we will take a closer look at the unemployment situation in Vietnam, including figures and data from the past three...Read More

Unemployment benefits in Vietnam play an important role in protecting employees in case of job loss. The benefits provide financial support to eligible employees who have been laid off due to no fault of their own. In this article, we will discuss the eligibility criteria, calculation of benefits, contributions, and other important information about unemployment...Read More

Insurance is a crucial aspect of financial planning that protects individuals and their families from unexpected events and financial difficulties. Insurance policies vary in terms of coverage, premium amounts, and the amount of benefits paid. In Vietnam, there are several insurance options available to individuals, each with its unique features, advantages, and disadvantages. In this...Read More

The food and beverage (F&B) industry in Vietnam has been facing various challenges in recent years. Despite being one of the fastest growing economies in Southeast Asia, the F&B sector in Vietnam has struggled to keep pace with other industries in terms of growth and development. One of the major challenges faced by the F&B...Read More

As of 2023, the tourism industry in Vietnam has shown significant growth and potential. The country has become a popular destination for tourists due to its diverse landscapes, rich cultural heritage, and delicious cuisine. In recent years, the government has implemented various measures to support the development of the tourism sector, including infrastructure improvements and...Read More

Choosing a name for a company, product, or brand is a crucial step in the branding process. A name can influence the perception of your business and create a lasting impression with customers. When selecting a name, it is important to consider the following: Relevance: The name should be relevant to the product or service...Read More

The services industry in Vietnam has undergone significant growth and transformation in the last few decades, becoming a major contributor to the country’s economy. Historically, the services sector in Vietnam was limited to traditional activities such as retail, wholesale, and distribution, tourism, and financial services. However, in recent years, the industry has expanded to include...Read More

Vietnam has emerged as one of the most attractive destinations for foreign investment in Southeast Asia. In 2019, the country received a significant inflow of foreign investment, totaling over $40 billion USD. This was a notable increase from the previous year and further solidified the country’s position as a rapidly growing economy in the region....Read More

Investing in any foreign market involves risks and challenges, and Vietnam is no exception. Some of the disadvantages and risks of investing in Vietnam include: Uncertain legal framework: Vietnam’s legal system is still developing, and the laws and regulations can be complex, inconsistent, and difficult to understand. This can make it challenging for investors to...Read More

As of 2023, Vietnam has a population of approximately 97 million people with a median age of 30 years old. The country has a population growth rate of approximately 1.2%. Vietnam has a youthful and rapidly growing workforce, with more than 70% of the population under the age of 50 and over half of the...Read More

Personal Income Tax (PIT) is a tax levied on the income of individuals and is one of the most common taxes in Vietnam. It is a tax on the money earned by individuals from wages, salaries, bonuses, and other forms of compensation. As a foreign business owner in Vietnam, it is essential to understand the...Read More

Value-Added Tax (VAT) is a tax on the value added to a product or service during its production or distribution. VAT is one of the most common indirect taxes in the world and is widely used in many countries, including Vietnam. Foreign business owners in Vietnam need to understand VAT in order to comply with...Read More

The Foreign Contractor Tax (FCT) is a tax levied on foreign contractors who provide services in Vietnam. It is similar to a value-added tax (VAT) and is imposed on the revenue earned by foreign contractors from services provided in Vietnam. The FCT is calculated as a percentage of the revenue earned by the foreign contractor,...Read More

Vietnam has several types of taxes, including: Corporate Income Tax (CIT): The CIT rate is 20% for companies with taxable income of up to VND 200 million, and 22% for companies with taxable income exceeding VND 200 million. Value-Added Tax (VAT): The standard VAT rate in Vietnam is 10%, with a reduced rate of 5%...Read More

Comparing taxes in Vietnam with those in other Southeast Asian countries and territories can provide valuable insights for foreign business owners. However, it is important to note that tax regulations and rates can vary greatly depending on the country and specific industry, so it is recommended to consult with a local tax expert for the...Read More

Calculating profit for the purpose of Corporate Income Tax (CIT) calculation involves determining a company’s taxable income, which is the amount of profit on which the tax is levied. Here are three concrete examples to demonstrate the calculation of taxable income: Example 1: A retail company The retail company’s revenue for the year is VND...Read More

Vietnam currently has various tax exemptions in place, aimed at promoting investment and supporting certain industries and activities. Some of the main tax exemptions in Vietnam include: Corporate Income Tax (CIT) exemptions: CIT exemptions are available for certain types of business activities such as high-tech companies, software development, renewable energy, and investment in disadvantaged regions....Read More

In Vietnam, failure to comply with tax regulations and requirements can result in various penalties and fines, including but not limited to: Late payment fines: If a company fails to pay taxes on time, it may incur a fine equivalent to 0.03% to 0.05% of the outstanding tax amount per day of delay. Interest on...Read More

A short-term loan is a loan that is typically due within one year or less, whereas a long-term loan is a loan that has a repayment period of more than one year. Short-term loans are often used for immediate or temporary financial needs, such as working capital or to purchase inventory. They typically have higher...Read More