Laws in Vietnam

    When 2020’s final months are drawing on, it's high time for company’s accountants to be informed on time of new regulations on the schedule of submission of tax returns in the next year to update them on this schedule, ensuring that their tasks are completed and helping enterprises duly discharge and fulfill their obligations to file tax returns.      Below is the schedule of submission of tax returns in 2021. Month Deadline Types Legal bases Jan. 20/01 - Forms of declaration of VAT arising in Dec., 2020 - Forms of declaration of VAT arising in Dec., 2020 (if any) Point a of clause 1 of Article 44 of 2019 Law on Tax Administration - Reports on use of invoices arising in Dec., 2020 Article 27 in Circular No. 39/2014/TT-BTC 30/1 License fees arising

  Most people still feel confused about these two definitions. After reading this article, readers may find significant differences between wage/salary and income of a person.   Both wage/salary and income are earned by the provision of labor. So, let's see regulations of the 2012 Labor Code currently in force regarding the compensation package that a worker or employee can receive by providing his/her labor:       “Article 90. Wage/salary        1. Wage/salary refers to a sum of money that an employer pays a worker or employee for an agreed-upon work.        Wage/salary includes the work or title-based pay rate, allowances and other supplemental benefit package.        …”   Therefore, whenever a labor relationship between 2 persons, including 1 employers and 1 employee arises, wage/salary will be deemed as a sum of money “swapped” for an employee’s labor and paid by an employer.   In addition, wage/salary may be understood as a monthly amount that an employee rece

On June 17, 2020, in the XIV th National Assembly’s 9 th meeting, the 2020 Law on Enterprises was passed and is about to take effect on January 1, 2021 as a substitute for the 2012 Law on Enterprises. Below are several significant innovations in the new Law that you should take into consideration. Firstly, notification of sample corporate stamps: The existing regulation prescribes that, before use of corporate stamps, enterprises are obligated to inform business registries of sample corporate stamps so that they are publicly posted on the National Corporate Registration Portal. The newly-adopted Law eliminates this regulation when not requiring enterprises to inform business registries of this. Secondly, business households: The regulation on transformation of household businesses into enterprises will be no longer valid. Concurrently, in order to ensure continuity till a new and separate Law on household business comes into existence, the Government may be authorize

Below are detailed instructions about procedures for extension of temporary residence for foreigners who wish to continue to stay in Vietnam after end of their permitted temporary residence duration. There are a lot of reasons why foreigners wish to extend their temporary stay in Vietnam, including reasons related to their work, families, unexpected events, or even keeping themselves away from Covid-19 disease. *The following chart delineates procedures for extension of temporary residence for foreigners: Discussion matters Application procedures for decision on extension of temporary residence for foreigners Cases subject to regulations laid down in Article 35 of the 2014 Law on Entry and Exit Cases subject to Article 5 of the Circular No. 04/2016/TT-BNG 1 Requirements for grant of permission for extension of temporary residence -  Any foreigner who is temporarily residing in Vietnam w

In the context of the increasing number of infected and suspected cases, Vietnam has reported thousands of employees are quarantined due to suspected infection with corona virus. With a view to protecting them, what are benefits that they are granted if they are quarantined? 1. They are allowed to take paid leave due to quarantine This is an issue that has recently attracted a lot of attention. If you are quarantined due to this infectious disease, don't worry that you will receive wages or salaries as usual. According to provisions laid down in clause 1 of Article 98 in the 2012 Labor Code , in case where objective causes such as natural disasters, conflagration, fatal diseases or hostility (through no fault of an employee) are defined, such employee will be paid wages or salaries when on leave. Rate of wage and salary paid to an employee on leave will be agreed upon between that employee and the payer provided that such rate is not less than the region-specifi

  For your convenience in keeping track of obligations to submission tax returns in next year. I am trying my best to give you details about the final deadlines for submission of tax returns in accordance with existing regulations. I hope it would help. 1. Determination of deadlines for submission of month- or quarter-based tax returns * Deadline for submission of month-based tax declarations. The deadline is the 20 th day of the month following the month during which tax obligations arise with respect to month-based tax declaration and tax return submission. * Deadline for submission of quarter-based tax declarations. Below are specific regulations:   Clause 1 of Article 44 in the 2019 Law on Tax Administration prescribes the deadline for submission of tax returns with respect to taxes declared on a monthly basis (the 20 th day of the month following the month during which tax obligations arise at the latest) or on a quarterly basi