Weather emergencies take many forms, and depending on your location, you’re likely more vulnerable to some forms than others. But the following data about the business impact of natural disasters from the Federal Emergency Management Agency (FEMA) is a wake-up call: 40% of small businesses won’t reopen in the immediate aftermath of a natural disaster One […]
Virtual currencies,also known as cryptocurrencies, have gone mainstream. For example, you can use Bitcoin to buy a Tesla, or you can use a Bitcoin wallet on your smartphone to make everyday purchases. But beware: Using virtual currency has federal income tax implications that may surprise you. With increasing market acceptance and the skyrocketing price of […]
Vietnam’s Ministry of Finance on March 30, established a research group, which began an in-depth study of cryptocurrencies, with a view to achieve legislative reform for the industry in the near term. While cryptocurrency trading and use are gaining popularity globally, the Vietnamese legislation makes no reference to such transactions. Yet, the current transition of Vietnam’s economy […]
This past April 23rd, 2021, a Decree prohibiting personnel subcontracting and reforming several legal dispositions of the Federal Labor Law, Social Security Law, Tax Code, Income Tax Law, and Value Added Tax Law, among others, was published in the Federal Official Gazette. Among the most important aspects to note of the Decree are the following: […]
Credit reports can help your company make a wide range of decisions, from extending credit to offering employment. And regardless of how you use the reports, the Fair Credit Reporting Act requires you to tell applicants the reason if the data results in an application being denied. A case before the Federal Trade Commission illustrated the point and […]
Vietnam has a population of over 97 million people spread over 330,000 square kilometers. The country is still predominately rural, with urban centers providing a home for just 35 percent of the population. Companies entering Vietnam for the first time often fail to account for regional variation in the labor market and invest in locations […]
Many incidents of fraud are discovered inadvertently. For example, a staff member may notice something that doesn’t seem right and mentions it to a manager. Upon investigation, internal theft is found. But considering the potential damage that fraud can inflict on a company, it is obviously better to do more than depend on mere chance. Keep […]
The garment and textile industry is one of the key industries in Vietnam with the second-largest export turnover in the country. In 2019, the industry’s export value contributed to 16 percent of the total GDP. In the past five years, the textile industry has continuously grown at an average rate of 17 percent annually. In […]
Vietnam’s land use rights can be complicated for first-time business investors. In Vietnam, the land is collectively owned by people and administered by the government on their behalf. Therefore, under such a system, property owners cannot have full and legal ownership of land. Their rights are limited to land use rights permitted within the law. […]
You may have heard people say that it’s wise to avoid probate. But is it true? And do you understand why? Probate is the court-supervised process for distributing the assets in your estate. It involves the proposed executor in the will petitioning the court to accept the will as a valid testamentary instrument. The goal is […]
Once a company makes a profit and is able to meet the basic requirements for remittance, there will still be challenges with respect to ensuring that the remittance process goes smoothly. Whether it be a decision over the method of repatriation or when to take profits, the ways in which investors choose to approach the […]
Transfer pricing continues to be one of the most important matters facing multinational companies. The tax situation in any given country can affect whether or not your business sets up facilities or holds intellectual property ownership there. The IRS and numerous tax authorities worldwide are intensifying their focus on how corporations allocate income and expenses among […]