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Vietnam is ready, but are you?

Vietnam has been making significant strides towards becoming a global economic player in recent years. With a population of almost 100 million and a young, well-educated workforce, Vietnam has the potential to be a major player in the world economy. In this article, we will explore the reasons why Vietnam is ready for the world […]

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Why it is important to choose an experienced accounting firm?

Vietnam is an attractive market for foreign investors due to its growing economy and favorable business environment. However, doing business in Vietnam can also come with its own set of challenges, particularly in the area of accounting and compliance. In this article, we will discuss why it is important to have a good accounting firm […]

What is an S-curve?

An S-curve is a graphical representation of the growth pattern of a particular phenomenon over time. The S-curve takes its name from the S-shape it forms, which resembles the letter S. In business and management, the S-curve is a useful tool for understanding how a new product or technology will be adopted and how its […]

How to value a tech startup?

The world of startups can be exciting, innovative, and unpredictable. Tech startups, in particular, have the potential to disrupt entire industries, change the way we live our lives, and create massive value for their founders, investors, and society as a whole. However, before you invest your time, money, or resources into a tech startup, you […]

How to professionalize your F&B business?

Food and beverage (F&B) businesses are notorious for their low profit margins, high competition, and labor-intensive operations. However, with the right strategies and practices, it’s possible to professionalize an F&B business and make it more profitable, efficient, and sustainable. In this article, we will explore some practical tips for professionalizing your F&B business and taking […]

What are the common methods of transfer pricing, also called transfer pricing policies?

Transfer pricing is the mechanism by which multinational corporations (MNCs) transfer goods, services, or intangible assets within their global group of companies. Transfer pricing refers to the prices at which these transactions occur and is a significant tool for allocating profits among different jurisdictions. The main goal of transfer pricing is to ensure that profits […]

Exiting your business, how to value your F&B operation.

Valuing a restaurant is a complex process that requires consideration of many factors. It involves assessing the financial health of the business, its assets, liabilities, revenue, and expenses, as well as evaluating the current market conditions and the restaurant’s growth potential. Here are some concrete examples of how to value a restaurant: Cash flow analysis […]

What is a venture capitalist?

A venture capitalist (VC) is an investor who provides funding to early-stage or high-growth companies that have the potential to become successful and profitable. VC firms manage money from institutional investors, such as pension funds, endowments, and wealthy individuals, and invest it in startups in exchange for equity. In addition to funding, VCs also provide […]

What is immigration strategy?

Vietnam is a country that has seen a significant increase in immigration in recent years. Whether for work, study, or personal reasons, individuals and businesses from around the world are increasingly considering relocating to Vietnam. However, the immigration process in Vietnam can be complex and challenging, requiring careful planning and a well-defined strategy to navigate […]

Vietnam, a valued partner for India.

Vietnam is one of the most rapidly growing economies in Southeast Asia, and this makes it an attractive investment destination for Indian firms. With a population of around 100 million people, Vietnam offers a large and expanding market for Indian companies seeking to expand their global reach. Vietnam has undergone significant economic and social transformation […]

What is a deductible expense and how to compliantly process them following Vietnamese Accounting Standards (VAS) to avoid deduction disallowance?

As a business owner, one of your primary concerns is managing expenses and maximizing profits. One way to reduce your tax liability and keep more of your hard-earned money is to take advantage of deductible expenses.  As a company, it is important to understand what deductible expenses are and how they can help reduce your […]

What are related parties in Transfer Pricing?

Transfer pricing is a significant issue in Vietnam as it has become an increasingly popular destination for foreign direct investment (FDI). With more and more multinational corporations (MNCs) setting up operations in Vietnam, the Vietnamese government has been focusing on transfer pricing regulations to prevent tax avoidance and ensure that tax revenues are collected fairly. […]

The importance of data safety at PCA.

In today’s digital world, data safety has become a top priority for organizations, particularly for law and professional services firms that handle sensitive client information. Law firms have access to vast amounts of confidential data, such as financial records, medical histories, legal documents, and personal information, which makes them a prime target for cyber attacks. […]

Why personality tests matter in detecting high potentials in your teams?

In today’s competitive business environment, identifying and nurturing high-potential employees is crucial to maintaining a sustainable advantage over competitors. One tool that has gained widespread popularity in this regard is the Myers-Briggs Type Indicator (MBTI), a personality test designed to identify an individual’s personality type based on four dichotomies: extraversion vs. introversion, sensing vs. intuition, […]

What are the benefits of being a WTO member for Vietnam?

The World Trade Organization (WTO) is an international organization that promotes free trade and sets the rules for global trade. Membership in the WTO can bring significant benefits to countries, including Vietnam, by providing access to new markets, promoting economic growth, and protecting the rights of traders and investors. In this article, we will explore […]

Is intellectual property respected in Vietnam? How about my trademark.

Vietnam has emerged as a key destination for businesses looking to expand into Southeast Asia. However, as in any developing economy, intellectual property protection can be a concern for investors. Vietnam’s legal framework for intellectual property has come a long way, aligning with international standards in recent years. However, enforcement of intellectual property rights can […]

What are the financial statements for?

Financial reports are an essential component of running a successful business. These reports provide insight into a company’s financial health, allowing management to make informed decisions that can improve profitability and growth. Financial reports are typically prepared on a quarterly and annual basis, and they include several key components. One of the most important financial […]

What is transfer pricing?

Transfer pricing refers to the pricing of goods, services or intangible property transferred between different units or subsidiaries of a multinational company. It involves setting a price for these transfers, which can affect the allocation of profits between different tax jurisdictions. The principles of transfer pricing are designed to ensure that multinational companies are taxed […]

What are the steps preceding the company incorporation?

Creating a company is an exciting journey that requires careful planning and execution. While it can be a daunting task, the process can be broken down into several steps that an entrepreneur can follow to ensure success. Here are the different steps involved in the creation of a company for an entrepreneur. Step 1: Develop […]

How to lower your CIT?

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: In […]

Angel investor, private equity and venture capital?

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. Examples: It is […]

Franchise contract, an important step to scale up.

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. […]

How to finance your project?

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: In conclusion, there are several sources of financing a company, each with its own […]

VAS (Vietnam Accounting Standards) and IFRS (International Financial Reporting Standards) – 20 differences

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, […]

What are the IFRS?

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 […]

Company incorporations in 2022 in Vietnam

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 […]

Current difficulties to get visa and temporary resident cards

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 […]

Choose Vietnam for the corporate internship of your students.

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 […]

Unemployment facts in Vietnam from 2019 to 2022.

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 […]

Unemployment benefits and its conditions in Vietnam

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 […]

What insurances can an individual take?

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 […]

The difficulties of the F&B industry in Vietnam

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 […]

The Tourism industry in Vietnam in 2023

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 […]

How do you choose a name for your business, your product and your brand?

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: It is important to note that a company name, product name, […]

The industry of services in Vietnam, its past, its present and its future.

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 […]

Foreign investments in 2019 in Vietnam.

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. […]

What are the disadvantages and the risks of investing in Vietnam?

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: It’s important to carefully consider these risks and challenges when investing in Vietnam, and to take steps to mitigate them, such as seeking the guidance of experienced market entry experts […]

What is the key demographics indicators of Vietnam in 2023?

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 […]

What is PIT how does it work in Vietnam?

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 […]

What is VAT how does it work in Vietnam?

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 […]

What is FCT how does it work in Vietnam?

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, […]

What are all the taxes in Vietnam as of 2023?

Vietnam has several types of taxes, including: It is important to note that these tax rates may change and it is recommended to consult with a tax professional or a legal firm to stay updated on any tax law changes and to ensure compliance with the tax laws in Vietnam. Contact PCA Company Services today. […]

VATs and CITs in South East Asia compared to Vietnam

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 […]

How to calculate CIT in Vietnam?

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 […]

What are the current tax exemptions in Vietnam?

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: These tax exemptions are subject to change and can vary based on a number of factors such as the type of business, location, and other factors. It is […]

What are the fines and penalties related to tax and compliance issues?

In Vietnam, failure to comply with tax regulations and requirements can result in various penalties and fines, including but not limited to: It is important for foreign business owners in Vietnam to be aware of the tax regulations and requirements to avoid these penalties and fines, and ensure compliance with the tax authorities. A legal […]

What is a short term loan versus long term loan?

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 […]

Foreign investments in 2022 in Vietnam.

Foreign investment in Vietnam saw a significant increase in 2022, making it a lucrative destination for foreign investors. Here are some key figures and facts that highlight the growth of foreign investment in the country: In conclusion, the attractive figures and positive economic indicators make Vietnam a promising destination for foreign investment in 2022. However, […]

Vietnam and Cambodia as valid investment candidates?

Investing in a foreign country is a complex decision that requires thorough research and analysis. This article aims to compare the investment attractiveness between Vietnam and Cambodia by evaluating five key comparison criteria. The goal is to provide valuable insights for business owners who are considering investing in Vietnam and to highlight the need for […]

What is tax optimisation and why you need it ?

Tax optimization from a legal perspective refers to the process of structuring one’s financial and business activities in a manner that minimizes the amount of tax liability owed to the government. This can be accomplished through a variety of strategies and tactics, such as taking advantage of tax incentives, deductions, credits, and other tax breaks; […]

The Right Time to Invest in Vietnam: An Analysis of Cost of Life, Cost of Labor, and Decline of China

Vietnam is a country that has been attracting increasing attention from foreign investors in recent years. Its combination of a low cost of living, low cost of labor, and favorable business environment make it an attractive destination for businesses looking to expand their operations and take advantage of the growing opportunities in the region. In […]

Work Permit and Visa/TRC, are they considered as reasonable expenses in Vietnamese Accounting Standards (VAS)?

Regarding the expenses for Work Permit, TRC and visa, we would like to remark some points below: 1/ There are 03 important “documents” for a foreigner to come to Vietnam to work as an employee, i.e. visa to enter the country, Work Permit to legally work for a company and TRC to stay legally in […]

Company bankruptcy or dissolution, when and how?

The decision to liquidate a company or file for bankruptcy can be a difficult one, and it is important to understand the implications of each option in order to make an informed decision. In this article, we will examine the factors that should be considered when choosing between liquidation and bankruptcy, and provide guidance on […]

Does Vietnam provide any FTZs?

A Free Trade Zone (FTZ) is a designated area within a country where goods and services can be imported, stored, processed, and re-exported without being subject to the country’s usual customs duties and taxes. FTZs are designed to encourage foreign investment and promote international trade by providing a more favorable business environment for companies operating […]

The Youth of Vietnam, its fuel, its energy, the source of its success.

Vietnam is a country that is teeming with youthful energy and potential. With a large and growing population of young people, Vietnam is poised to become one of the leading nations in Southeast Asia in the years to come. In this article, we will take a closer look at the youth of Vietnam, their potential, […]

The Rise of the Middle Class in Vietnam and the Impact on Industry Services

Vietnam is currently experiencing a rapid growth in its middle class, which is having a significant impact on the country’s economy and the rise of various industry services. The middle class in Vietnam is defined as those who earn an annual income of between $7,000 to $14,000. This group is growing at a rate of […]

UKVFTA and EFTA treaties, how do they impact your business?

In recent years, Vietnam has made significant progress in strengthening its international trade relationships and expanding its global reach. Through a number of key treaties and agreements with countries and regions around the world, the country has created a more favorable environment for international trade and investment, and has established itself as an increasingly important […]

Filing for bankruptcy, chapter 11.

Bankruptcy is a legal process that provides relief to individuals and businesses that are unable to repay their debts. It allows them to discharge their debts and start fresh, while protecting their assets from seizure by creditors. In Vietnam, the process of bankruptcy involves several steps, including: It is important to note that the bankruptcy […]

Preparing your exit and maximizing the value of your company.

Maximizing the exit value of a company is crucial for any business owner looking to sell their company or transfer ownership. In Vietnam, it is important to have a thorough understanding of the legal and financial landscape in order to maximize the value of your company. In order to achieve this, it is essential to […]

China, the end of an era and Vietnam, a valid candidate.

Investing in a foreign market can be a complex process and requires thorough research to ensure success. When considering the Southeast Asia region, two of the most popular investment destinations are Vietnam and China. In this article, we will compare the two countries in five critical areas to help business owners make an informed decision […]

Foreign investments in 2021 in Vietnam.

Foreign investment in Vietnam in 2021 saw a positive growth trend despite the challenges posed by the ongoing COVID-19 pandemic. The Vietnamese government has taken various measures to attract foreign investment and support businesses, which has helped in attracting a significant amount of foreign investment. According to the General Statistics Office of Vietnam, the total […]

Vietnam is a WTO member since early 2007

The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade between its member countries. It was established on January 1, 1995, and its headquarters is located in Geneva, Switzerland. The WTO is the only international body that deals with the rules of trade between nations. Its main function is to […]

What is a dormant company?

Tax relief and measures regarding Company income tax (CIT) and Value added tax (VAT) for the fiscal year 2021

Why PCA® Accounting Services seem more pricey than other local or freelancers accountants?

Do I need a retail license to sell my products?

Should I have my company audited annually?

What is the process of issuing VAT invoices in Vietnam?

What is a VAT (red) invoice in Vietnam?

What are the main taxes in Vietnam?

Should I declare/deduct/notarize the lease contract of my office?

What is the best process to sign a lease agreement in Vietnam?

As an investor, do I need a work permit exemption?

What the advantages of foreign labor in Vietnam?

The Usual Accounting Experience in Vietnam

What is the best immigration product? (2022)

Can PCA handle the application for my work permit?

IFRS in Vietnam? When can these be expected?

As of 2023, the International Financial Reporting Standards (IFRS) have been adopted by the Ministry of Finance in Vietnam and are used as the basis for financial reporting by most Vietnamese companies. The IFRS was first introduced in Vietnam in January 1st, 2005 and has been gradually implemented by various companies over the past years. […]

Did you pick a name for your company?

Tax Incentives for companies developing software and active in the software industry

How to deal with staffs who do not show up at work?

How to dismiss someone: A guide to firing an employee in Vietnam

Procedures for company (LLC) dissolution

Procedures for Representative office (RO) dissolution

ABC of the Representative Office in Vietnam!

I Have An FDI (Foreign Direct Investment) Company With An IRC (Investment Registration Certificate), Should I Handover Investment Report Periodically ?

The status of Crowdfunding In Vietnam !

What Services Do PCA Company Services Offer ?

What is the right capital to contribute For My Limited Liability Company ?

PCA has moved !

How to end a limited company?

Ending a company legally involves a process known as “liquidation.” Liquidation is the process of dissolving a company and distributing its assets to creditors and shareholders. This process can be voluntary or involuntary, and is typically initiated by the company’s directors or shareholders. In Vietnam, the steps to legally end a company include: Obtaining approval […]

The Challenges of the compliance in Vietnam.

Doing business in Vietnam can be a complex and challenging task, with a number of legal and compliance requirements that must be met in order to be successful. Whether you are setting up a new business or expanding an existing one, it is crucial to understand the complexities of the local legal system and ensure […]

Importance of registering your trademark in Vietnam.

The importance of registering a trademark in Vietnam today cannot be overstated, as it is a crucial step in protecting and promoting a business’s intellectual property. A trademark is a symbol, logo, design, or slogan that identifies and distinguishes a particular brand from others in the marketplace. Registering a trademark in Vietnam offers numerous benefits […]

Foreign investments in 2020 in Vietnam.

Vietnam, once considered as a developing country, has been making great strides in recent years in attracting foreign investment. Despite the impact of the COVID-19 pandemic on the global economy in 2020, Vietnam was still able to maintain its position as a favorable destination for foreign investment. In 2020, Vietnam received a total of $35.8 […]

Foreign investments in 2018 in Vietnam.

2018 was a year of robust growth for foreign investment in Vietnam. Despite the global economic slowdown and trade tensions, the country’s favorable investment climate and efforts to create a more open and business-friendly environment continue to draw foreign investment. According to the Ministry of Planning and Investment, Vietnam attracted a total of $35.5 billion […]

Foreign investments in 2017 in Vietnam.

In 2017, Vietnam saw a surge in foreign investment, with the country attracting a total of $35.8 billion in foreign direct investment (FDI). This represents a significant increase from the previous year, and is largely due to the country’s favorable business environment and rapidly growing economy. One of the key factors driving investment in Vietnam […]

Foreign investments in 2010 in Vietnam.

The year 2010 marked an important moment in the history of foreign investment in Vietnam. Despite the global financial crisis and the economic slowdown, Vietnam continued to attract foreign investment, which was seen as a major driver of its economic growth. In 2010, foreign investment in Vietnam reached a record high, with the country attracting […]

Foreign investments in 2011 in Vietnam.

Foreign investment in Vietnam in 2011 was marked by a number of significant milestones. The country was widely regarded as an attractive destination for foreign investors due to its abundant natural resources, favorable geographical location, and a young and growing workforce. In 2011, foreign direct investment (FDI) in Vietnam reached $19.5 billion, a 43% increase […]

Foreign investments in 2012 in Vietnam.

Foreign investment in Vietnam in 2012 continued to show positive growth, despite the global economic slowdown and the ongoing Eurozone crisis. In 2012, Vietnam attracted $12.7 billion in foreign direct investment (FDI), an increase of 6.9% compared to the previous year. The country’s ability to attract foreign investment can be attributed to several key factors, […]

Foreign investments in 2013 in Vietnam.

Foreign investment in Vietnam in 2013 was characterized by a focus on the country’s growing economy and its expanding consumer market. The year saw a significant increase in the number of foreign investment projects, as well as a rise in the amount of capital invested. One of the key factors attracting foreign investors to Vietnam […]

Foreign investments in 2014 in Vietnam.

Foreign investment in Vietnam in 2014 was characterized by both challenges and opportunities. On one hand, the global economic slowdown and political tensions in the region had a negative impact on investment, but on the other hand, there was a rise in investment from new sources and in new sectors, driven by the country’s improving […]

Foreign investments in 2015 in Vietnam.

In 2015, Vietnam saw a significant increase in foreign investment as the country continued to emerge as a favorable destination for businesses seeking to expand into Southeast Asia. The year was marked by a growing number of new investment projects and increased capital inflows, particularly in the manufacturing, real estate, and retail sectors. According to […]

Foreign investments in 2016 in Vietnam.

Foreign investment in Vietnam in 2016 was marked by significant growth and major shifts in terms of investment patterns and geographic origin of investors. According to data from the Foreign Investment Agency of Vietnam, total foreign direct investment (FDI) in 2016 reached $15.8 billion, an increase of 17.6% compared to the previous year. This increase […]