Reduction of tax rates for import from Japan and ASEAN countries | ANT Lawyers
Implementation of Agreement on ASEAN Japan Comprehension Economic Partnership (AJCEP) and Vietnam Japan Comprehension Economic Partnership (VJCEP), Ministry of Finance issued Circular No. 02 20/2012/TT-BTC and Circular No. 21/2012/TT-BTC dated 15.02.2012 giving instructions on the new special preferencial import tariff. Accordingly, from the date of Apr 1st, 2012, import tax of products such as electronics, refrigerators, appliances, machinery, and agricultural products, processed food imported from Japan and ASEAN countries into Vietnam wil…
How Payment by Documentary Credit in International Commerce Works? | ANT Lawyers
Documentary Credit (also known as letter of credit or bankers commercial credit, or letter of undertaking) is one of the payment instruments that institutions providing non-cash payment services (banks, foreign bank branches, etc.) deal with to make a valid payment transaction at the request of the account holder. Documentary credit is the most commonly used for payment of international sales of goods. The supply of international payment services by institutions providing non-cash payment services shall be conducted in accordance with regulati…
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What is Value-added Tax Reduction Policy in 2022? | ANT Lawyers
In order to stimulate growth and recover the economy after the impact of the Covid-19 pandemic, the Government has issued a policy to reduce value added tax. The reduction of value-added tax is an effective solution and tool to stimulate consumption and is expected to create a driving force for rapid development to help businesses restore business and production. The value-added tax reduction policy has been promulgated by Decree 15/2022/ND-CP stipulating the tax exemption and reduction policy according to the National Assembly’s Resolution No…
Tax Obligations of Representative Offices in Vietnam | ANT Lawyers
Foreign entities have found Vietnam as an increasing attractive destination for investment. They could consider entering Vietnam in various forms, including setting up representative offices . “A representative office is a dependent unit of the enterprise, having the task of representing under authorization the interests of the enterprise and protecting such interests” (Clause 2 of article 45, Law on Enterprises 2014). “Representative office shall perform the functions of liaison offices, market surveys, promotion of business opportunities fo…
Tax Obligations of Representative Offices in Vietnam | ANT Lawyers
Foreign entities have found Vietnam as an increasing attractive destination for investment. They could consider entering Vietnam in various forms, including setting up representative offices . “A representative office is a dependent unit of the enterprise, having the task of representing under authorization the interests of the enterprise and protecting such interests” (Clause 2 of article 45, Law on Enterprises 2014). “Representative office shall perform the functions of liaison offices, market surveys, promotion of business opportunities fo…
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