Vietnam will introduce new regulations on the minimum basic salary for social insurance. The government’s Decree 38/2019/ND-CP on minimum basic salary will take effect from July 1, 2019. As per the new law, the minimum basic salary cap for social insurance will be raised to US$1,295 (29,800,000 VND) from the current US$1,208 (27,800,000 VND) per month. This […]
When a company gives a cheap or interest-free loan to an employee or a director, this generates a benefit in kind in the hands of the beneficiary. Therefore, it is crucial to determine the value of this benefit in kind. The tax authorities use the benchmark interest rates which are published annually in the Belgian […]
Industrial zones (IZs) and Export processing zones (EPZs) in Vietnam have played an important role in attracting foreign investments and the development of the local economy. Firms investing in these zones have enjoyed preferential governmental policies in terms of tax and land rent incentives. But now some IZs and EPZs are lagging behind in attracting […]
Soon it will be time again to fill out your personal income tax return. As it is the case every year we briefly guide you through the tax return. Notwithstanding the fact that the tax authorities announce that this year there are just a few new tax codes, there are still a number of changes. […]
Since the entry into force of the Companies and Associations Code (CAC) on 1 May, the number of company forms is reduced to four. Much attention goes to the private company and especially the abolishment of the capital concept. Why choose this company form? The private company is a company with full legal personality without […]
The Isle of Man is proud of its innovative and entrepreneurial spirit that, over the years, has been achieved by individuals and businesses identifying what the Island is good at, building a good rapport with the local Government, and supporting each other with new ideas to accommodate growing businesses that will benefit the Island. The […]
Vietnam’s transfer pricing regulations under Decree No. 20/2017/ND-CP (“Decree 20”) became effective in May 2017 and outline all relevant aspects of the transfer pricing compliance process. Foreign investors should consider the following when creating a compliance strategy for transfer pricing in the country. What are the main transfer pricing compliances? According to regulations, taxpayers subject to Decree 20, if […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Oral R. Dowell of Dowell’s Advisory Services Inc. Oral has joined IR as our exclusive Accounting Services Member in Barbados. Mr. Oral R. Dowell is the founder and CEO of Dowell’s Advisory Services Inc. (Dowell’s Advisory). Oral is a qualified Chartered Accountant and a Fellow […]
Vietnam developed industrial zones to further boost foreign investment into the country. Vietnam Briefing explains the industrial park system, how a businessperson can evaluate industrial zones, and some of the advantages of setting up in an industrial zone. Industrial Zones are locations that are earmarked by the government for the production of industrial goods and […]
Divestments have been a major focus for the Vietnamese government as it aims to increase the efficiency of loss-making State-owned enterprises (SOE). In addition, divestments are also a significant source of revenue for the government that can help in managing the fiscal deficit and fund economic development plans. Equitization of SOEs and divestments in industries such as […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Hussaini Fakhruddin of Mazars Afghanistan Limited. Hussaini has joined IR as our exclusive Accounting Services Member in Afghanistan. We have a strong presence in Afghanistan with the head office in Kabul located at the commercial hub of the capital city of […]
Foreign companies need to be aware of a new decree on internal audit in Vietnam that goes into effect on April 1. Vietnam Briefing breaks down key aspects of the new decree for foreign investors. The government issued Decree 05/2019/ND-CP on internal audit in Vietnam on January 22, this year. It will come into effect on April 1. […]