Circular No. 55-TC/TCT/TT guiding the implementation of tax regulations for foreign-invested enterprises and foreign parties engaging in business cooperation based on contracts under the Law on Foreign Investment.

CIRCULAR OF THE MINISTRY OF FINANCE

Guidelines for Implementing Tax Regulations on Foreign-Invested Enterprises and Foreign Parties Engaged in Business Cooperation Based on Contracts Under the Law on Foreign Investment in Vietnam

Pursuant to Decree No. 28/HĐBT dated February 6, 1991 of the Council of Ministers detailing the implementation of the Law on Foreign Investment in Vietnam and the Law Amending and Supplementing Certain Provisions of the Law on Foreign Investment in Vietnam, the Ministry of Finance hereby provides guidelines for implementing tax regulations on foreign-invested enterprises and foreign parties engaged in business cooperation based on contracts (hereinafter referred to as foreign-invested enterprises and foreign cooperative parties) as follows:

 

PART I
TYPES OF TAXES APPLICABLE TO FOREIGN-INVESTED ENTERPRISES AND
FOREIGN COOPERATIVE PARTIES

I- INCOME TAX

1. Objects subject to tax and objects liable to pay tax

a) All income derived from production and business activities stipulated in the Law on Foreign Investment in Vietnam shall be subject to income tax for all foreign-invested enterprises and foreign cooperative parties.

b) Foreign-invested enterprises and foreign cooperative parties are taxpayers for income tax:

In cases where a foreign-invested enterprise has subsidiary businesses, the income of such subsidiary businesses shall be aggregated with that of the main enterprise for the purpose of calculating the entire income tax liability.

In cases where a foreign cooperative party participates in multiple joint venture contracts, income tax shall be calculated separately for each joint venture contract.

2. Taxable Income

The taxable income of a foreign-invested enterprise is the difference between total revenues and total expenses plus other incidental incomes of the enterprise, including both main and subsidiary businesses (if any).

Other incidental incomes include: rental income, proceeds from asset liquidation or transfer, income from joint ventures with foreign entities, and other financial incomes (such as interest rate differences between deposits and loans from banks...).

The taxable income of a foreign cooperative party is the difference between total revenues of the foreign party and total expenses incurred by the foreign party in executing the contract signed with the Vietnamese party.

a) Revenues:

Revenues of a foreign-invested enterprise or a foreign cooperative party include revenues from selling products or providing services to external parties and other revenues from any activities of the enterprise during the tax year.

In cases where a foreign cooperative party adopts a product-sharing arrangement, revenue from product sales is calculated based on the quantity of products allocated to each party multiplied by the average market price of the product at the time of allocation as determined by the tax authority.

b) Expenses:

Expenses of a foreign-invested enterprise or a foreign cooperative party are defined in Clause b, Article 76 of Decree No. 28/HĐBT dated February 26, 1991 of the Council of Ministers detailing the implementation of the Law on Foreign Investment in Vietnam.

The following expenses shall not be included in the calculation of taxable income:

Material and energy costs used for purposes unrelated to generating taxable income, such as lending, selling, or exchanging.

Excess depreciation expenses on fixed assets beyond the limits set by the Ministry of Finance, and basic depreciation expenses on fully depreciated fixed assets.

Losses due to damage, theft, or natural disasters of assets, materials, or capital, where the responsible party cannot be identified.

Production stoppage losses due to any cause.

Penalties paid by the enterprise, such as penalties for breach of economic contracts, penalties for violation of laws, and penalties for delayed payment of debts.

Interest expenses payable by investors on borrowed funds contributed to the statutory capital or on capital contributions from Vietnamese investors to the enterprise's capital.

Interest expenses payable by the enterprise on borrowed funds exceeding 2.34% of the statutory capital, except in cases where the State Committee on Cooperation and Investment permits the enterprise's statutory capital to be less than 30% of the total investment capital in the investment permit.

3. Collection System for Income Tax

The amount of income tax payable equals the actual taxable income realized in the tax year multiplied by the income tax rate specified for the foreign-invested enterprise or foreign cooperative party in the investment permit issued by the State Committee on Cooperation and Investment.

The tax year is the fiscal year permitted for accounting purposes by the enterprise.

b) Method of Collecting Income Tax:

The annual income tax of a foreign-invested enterprise or foreign cooperative party is temporarily collected quarterly based on declarations made at the end of the tax year or upon termination of the contract, then settled according to actual figures.

For joint venture contracts with a duration of less than one year, income tax is paid in two installments, the first installment being temporarily paid halfway through the contract period, and the final settlement is made upon contract expiration based on actual figures.

c) Deadline, Place, and Procedure for Paying Income Tax:

Within five days after the deadline mentioned above, the foreign-invested enterprise or foreign cooperative party must submit an income tax declaration form (Form No. 1 attached) to the local tax authority at the headquarters location of the enterprise. The tax authority will review the declaration, calculate the tax, and issue a notice of the tax payable to the enterprise or foreign cooperative party. If the enterprise or foreign cooperative party fails to submit the declaration within the deadline, the tax authority may determine a provisional tax amount and issue a tax notice.

Within five days from receiving the tax notice from the tax authority, the enterprise or foreign cooperative party must pay the full amount of tax as stated in the notice into the state treasury designated by the tax authority.

Within three months after closing the books for the fiscal year, the foreign-invested enterprise or foreign cooperative party must submit the annual accounting report and income tax declaration to the tax authority at the headquarters location of the enterprise, and the tax authority will settle the income tax according to the provisions in Part III of this Circular.

4. Refund of Reinvested Income Tax

a) Foreign economic organizations or foreign individuals who reinvest profits for three years or more shall be refunded the income tax paid on the portion of profits that were reinvested by the tax authority.

In cases where foreign parties in foreign-invested enterprises have not contributed the statutory capital as recorded in the investment permit, they will not be eligible for refund of income tax on reinvested profits.

b) The income tax refund for reinvested profits is determined as follows:

 

 

Where:

T - is the amount of income tax to be refunded

L - The amount of distributed profits (after payment of income tax) that are reinvested

S - The income tax rate recorded in the investment permit

If an enterprise has paid income tax in the currency of any country, it will be refunded in that same currency.

c) Procedures for refunding income tax:

When requesting a refund of income tax paid on reinvested profits, foreign economic organizations or foreign individuals must present the following documents to the tax office at the headquarters of the enterprise:

Decision allowing reinvestment issued by the State Committee for Cooperation and Investment.

A declaration on reinvested profits (model number 2 attached).

Upon receipt of all the above documents, the tax authority will verify the amount of income tax to be refunded and submit the application for income tax refund to the Ministry of Finance for reimbursement to the reinvestor.

 

II- TAX ON REMITTANCE OF PROFITS OUT OF THE COUNTRY

1. Taxable objects and taxpayers:

Profits distributed to foreign economic organizations or foreign individuals from participating in investments under any form prescribed in the Law on Foreign Investment in Vietnam when remitted out of the territory of Vietnam are taxable objects for tax on remittance out of the country.

Foreign economic organizations or foreign individuals are both taxpayers for tax on remittance of profits out of the country.

2. Tax Collection and Payment System:

a) The amount of tax on remittance of profits out of the country to be paid is calculated by multiplying the amount of profits requested to be remitted out of the country with the tax rate specified in the investment permit issued by the State Committee for Cooperation and Investment.

For cases involving distribution of products, if a foreign party remits profits out of the country in the form of distributed products, the tax on remittance of profits out of the country is calculated based on the quantity of products remitted out of the country multiplied by the tax rate for remittance of profits out of the country and then multiplied by the export price (FOB) stipulated in the contract. If there is no contract, the FOB price at the Vietnamese market at the time of export as determined by the tax authority will be used.

b) Collection procedures:

The tax on repatriation of profits is collected each time profits are transferred out of the country.

Each time remitting profits out of the country, foreign economic organizations or foreign individuals must declare to the tax authority directly managing the collection of income tax for the enterprise in which they have invested capital (Form No. 3 attached).

Upon receiving the tax declaration, within one working day, the tax authority will check, calculate the tax and issue a notice of the tax payable to the taxpayer.

Upon receiving the tax notice from the tax authority, the taxpayer goes to the State Treasury designated by the tax authority to pay the tax. The State Treasury issues a certificate confirming the payment of the tax on remittance of profits to the taxpayer for the purpose of remitting profits out of the country.

 

III- EXPORT DUTY AND IMPORT DUTY

1. Taxable objects and collection system:

All goods that enterprises and foreign parties engaged in joint business operations are permitted to export or import through the border of the Socialist Republic of Vietnam are taxable objects for export duty and import duty. This includes cases where foreign parties remit profits out of the country or distribute products during the investment process in Vietnam.

The collection system for export duty and import duty for enterprises and foreign parties engaged in joint business operations is implemented strictly according to the provisions of the Law on Export Duty and Import Duty on Trading Goods adopted by the National Assembly of the Socialist Republic of Vietnam on December 29, 1987.

2. Exemption and reduction of export duty and import duty:

According to Article 35 of the Law on Foreign Investment in Vietnam and Article 78 of Decree No. 28/HĐBT dated February 6, 1991 of the Council of Ministers, in addition to the cases exempted or reduced from export duty and import duty already provided for in the Law on Export Duty and Import Duty on Trading Goods, enterprises and foreign parties engaged in joint business operations are also eligible for exemption from import duty in the following cases:

Equipment, machinery, spare parts, production and business means (including transportation means) and materials contributing to the capital of foreign-invested enterprises or to the capital for joint business operations.

Equipment, machinery, spare parts, and materials imported using part of the total investment capital of foreign-invested enterprises to carry out basic construction to establish the enterprise.

Raw materials, components, spare parts, and materials imported for the production of export goods.

When importing goods in the aforementioned exempted cases, enterprises and foreign parties engaged in joint business operations must follow the procedures for exemption from tax as guided in Point 4, Section II of Circular No. 600-TC/CTN dated April 21, 1990 of the Ministry of Finance regarding guidance on procedures for exemption and reduction of export duty and import duty on trading goods.

3. Declaration and supplementary payment of import duty:

According to Article 78 of Decree No. 28/HĐBT dated February 6, 1991 of the Council of Ministers and Article 9 of Decree No. 8/HĐBT dated January 30, 1988 of the Council of Ministers, goods imported and exempted from import duty in the aforementioned cases, if sold in the domestic market, must make up for the exempted import duty.

Within two days from the date of sale, enterprises or foreign parties engaged in joint business operations must declare to the provincial, city, special zone Customs Office (or the tax authority in areas without a Customs Office) at the headquarters of the enterprise about the quantity of goods sold (according to Form No. 4 attached). Failure to declare within this period will result in penalties according to the Law on Export Duty and Import Duty on Trading Goods.

The back-taxed import duty shall be determined at the time of sale of goods according to the current regulations on import duty policies, with the taxable value being applied based on the current non-trade import goods tax valuation table prescribed by the Ministry of Finance at the time of sale of goods.

For fixed assets that have been fully depreciated during their usage period and are permitted for liquidation sale, the taxable value for import duty is the actual selling price as evidenced by valid invoices.

During the process of tax collection, the tax authority discovers that enterprises or foreign parties engaged in business cooperation have sold imported goods that were exempted from duty under Article 78 of Decree No. 28/HĐBT dated February 6, 1991 without declaration, and thus must cooperate with customs authorities to recover the import duty and impose penalties according to the Export Tax Law and Import Duty Law on Trade Goods.

 

IV- ENTERPRISE INCOME TAX AND SPECIAL CONSUMPTION TAX

1. Enterprises and foreign parties engaged in business cooperation, if they sell products or goods in the Vietnamese market, will be required to pay enterprise income tax or special consumption tax according to the Enterprise Income Tax Law or Special Consumption Tax Law adopted by the National Assembly of the Socialist Republic of Vietnam on June 30, 1990, depending on the type of goods.

Enterprises or foreign parties engaged in business cooperation, if they generate revenue from service activities in Vietnamese currency, must pay enterprise income tax according to the Enterprise Income Tax Law.

Revenue from service activities in foreign currency, as stipulated in the investment permit issued by the State Committee for Cooperation and Investment, is exempt from enterprise income tax.

2. The basis for calculating enterprise income tax and special consumption tax rates shall be implemented according to the provisions of the Enterprise Income Tax Law, Special Consumption Tax Law, and current guiding documents.

3. Methods of tax payment:

Each month, within the first five days of the following month, enterprises or foreign parties engaged in business cooperation must declare and submit the tax declaration form for enterprise income tax or special consumption tax to the tax authority (according to Form No. 5 attached). Within five days from receiving the declaration from the enterprise or foreign party, the tax authority will review, calculate the tax, and issue a notice of the tax due to the taxpayer. The enterprise or foreign party must pay the full amount of tax due to the state treasury designated by the tax authority within five days from receiving the tax notice from the tax authority.

 

V- NATURAL RESOURCES TAX

1. Enterprises and foreign parties engaged in business cooperation that exploit natural resources in Vietnam must pay the natural resources tax according to the Natural Resources Tax Ordinance dated March 30, 1990 of the State Council, Decree No. 06/HĐBT dated January 7, 1991 of the Council of Ministers, and Circular No. 07-TC/TCT dated February 7, 1991 of the Ministry of Finance detailing the implementation of the Natural Resources Tax Ordinance.

2. Natural resource tax rate: specific tax rates for each type of natural resource will be determined by the Ministry of Finance and the State Committee for Cooperation and Investment based on exploitation conditions, quality of natural resources, costs of exploitation and transportation of natural resources, and taking into account international practices to specify the tax rate for each investment project within the framework of the tax rate table in Decree No. 06/HĐBT dated January 7, 1991 of the Council of Ministers, but in principle, the tax rate set will not be lower than the rate in the tax table of Circular No. 07-TC/TCT dated February 7, 1991 of the Ministry of Finance.

 

VI- PERSONAL INCOME TAX

1. Vietnamese and foreign individuals working in enterprises established and operating under the Foreign Investment Law in Vietnam, who earn income in Vietnam, must pay personal income tax according to the Personal Income Tax Ordinance dated December 27, 1990 of the State Council, Decree No. 119/HĐBT dated April 17, 1991 of the Council of Ministers, and Circular No. 22-TC/TCT dated April 22, 1991 of the Ministry of Finance guiding the implementation of the Personal Income Tax Ordinance.

2. Declaration and payment of personal income tax:

For regular income: enterprises and foreign parties engaged in business cooperation are authorized to withhold and pay personal income tax of employees before disbursing regular income payments. The withheld tax is paid into the state treasury designated by the tax authority.

For irregular income of individuals working in enterprises and foreign parties engaged in business cooperation, if such income is paid by the enterprise or foreign party, then the enterprise or foreign party is authorized to withhold and pay personal income tax before disbursing the income to the recipient.

 

VII- LAND, WATER, AND COASTAL AREA RENT

Enterprises or foreign parties engaged in business cooperation leased land, water, or coastal areas by the Vietnamese State for use must pay rent according to Decision No. 210a-TC/VP dated April 1, 1990 of the Ministry of Finance.

The specific rental amount for each investment project is recorded in the investment permit issued by the State Committee for Cooperation and Investment. In cases where the investment permit does not specify, it will temporarily be paid according to the level temporarily set by the provincial, municipal, or special zone People's Committees and adjusted when there is a formal decision from the State Committee for Cooperation and Investment.

 

PART II
CURRENCY FOR PAYING TAXES AND RECORDING TAX COLLECTION ACCORDING TO
TABLE OF CURRENT BUDGET

1. Currency for Tax Payment:

Enterprises and foreign partners conducting business cooperation may pay taxes in Vietnamese currency or in freely convertible foreign currencies according to Part I of this Circular. The conversion from foreign currency to Vietnamese currency (or vice versa) shall be carried out at the buying rate of foreign currency published by the Central Foreign Trade Bank at the time when the tax liabilities arise.

2. Recording Tax Revenue According to the Current Budget Table:

State budget revenues collected from enterprises and foreign partners conducting business cooperation shall be recorded under Chapter 16 of the current budget table.

Depending on the type, they shall be recorded under the following items:

Income Tax: Item 19 - appropriate type, clause, category;

Profit Repatriation Tax: Item 21 - appropriate type, clause, category;

Turnover Tax: Item 18 - appropriate type, clause, category;

Special Consumption Tax: Item 17 - appropriate type, clause, category;

Export Duty: Item 4;

Import Duty: Item 5;

Resource Tax: Item 20 - appropriate type, clause, category;

Personal Income Tax: Item 25;

Land, Water Surface, Sea Surface Rent: Item 23 - appropriate type, clause, category;

Other Tax Revenue: Item 30 - appropriate class, sub-class, category.

 

PART III
SETTLEMENT OF TAX OBLIGATIONS

At the end of each fiscal year and when enterprises terminate their operations or dissolve pursuant to the Law on Foreign Investment in Vietnam, the tax authority will settle the tax obligations (hereinafter referred to as tax settlement) of enterprises or foreign partners conducting business cooperation with the Vietnamese State. Below are the regulations concerning tax settlement.

 

I- ANNUAL TAX SETTLEMENT

At the end of each fiscal year, enterprises and foreign partners conducting business cooperation must submit accounting reports to the tax authority in accordance with the provisions of Circular No. 46-TC/CĐKT dated October 21, 1989 of the Ministry of Finance regarding guidance on accounting work for enterprises with foreign investment capital so that the tax authority can settle taxes with the enterprise based on the following contents:

1. Determining the amount of tax generated in the year: based on the accounting report and related accounting documents, the tax authority checks and accurately determines the total amount of tax payable for each type of tax throughout the fiscal year while comparing it with periodic tax declarations during the year to verify the authenticity of those tax declarations.

2. Determining the amount of tax paid in the year: based on tax declaration forms and certificates confirming the amount of tax paid by the enterprise in the year, the tax authority determines the amount of tax paid by the enterprise for each type of tax.

3. Determining overpayment or underpayment of tax in the year and handling violations: based on the results of the above contents 1 and 2, the tax authority determines the amount of tax overpaid or still owed by the enterprise for the fiscal year. For overpaid tax, it will be refunded to the enterprise or deducted from the tax payable in the following year, whereas for underpaid tax, the tax authority needs to determine the cause, collect the underpaid tax, and impose penalties if the underpayment is due to the enterprise's subjective fault.

It is not allowed to offset overpayment of one type of tax against underpayment of another type of tax when settling annual taxes.

 

II- TAX SETTLEMENT WHEN ENTERPRISES TERMINATE THEIR OPERATIONS OR DISSOLVE PURSUANT TO THE FOREIGN INVESTMENT LAW IN VIETNAM

When joint venture parties terminate their contracts or when enterprises terminate their operations or dissolve according to the provisions of the Law on Foreign Investment in Vietnam, the tax authority must immediately carry out the following tasks:

Conduct tax settlement work similar to the annual tax settlement mentioned in Section I above.

Determine the rights and responsibilities of each party in joint ventures and business cooperation contracts, or of foreign economic organizations or individuals in wholly foreign-owned enterprises towards each other or third parties. The main content of this work is:

Inspect the liquidation committee's report on the entire situation of receivables and payables in the enterprise's settlement at the time of cessation of operations, sources for settling debts, and specific responsibilities of investors for these debts; supervise and guide debt settlement.

Confirm the amount of invested capital of investors currently on the enterprise's account, including cash, assets, materials, goods, etc., confirm to foreign investors the amount of their invested capital that can be repatriated.

Determine profits and losses and the rights and responsibilities of investors related to profits or losses, or that loss. Confirm the profit that foreign investors can enjoy and transfer abroad. Calculate and set the tax on repatriating profits based on the profit that can be transferred abroad. This tax on repatriating profits will be immediately collected into the State budget except when foreign investors present documents proving that the profit was not transferred abroad for one of the following reasons:

Used for reinvestment in Vietnam according to the decision of the State Committee on Cooperation and Investment.

Used for personal expenses in Vietnam outside other declared income sources.

Used for other purposes in Vietnam.

 

III- METHODS FOR TAX SETTLEMENT

When it is time for annual tax settlement or upon receiving notice of termination of enterprise operations, or upon receiving the dissolution decision of the State Committee on Cooperation and Investment, the tax authority issues a decision to inspect and settle taxes with the enterprise. The inspection and tax settlement decision must be sent to the enterprise director or the liquidation committee, or the representative of the foreign investor three days before the start of the inspection.

The results of the inspection and tax settlement must be recorded in a protocol signed by the authorized representative of the enterprise or foreign investor and the representative of the tax authority conducting the inspection. The protocol is sent to the Ministry of Finance (General Department of Taxation) one copy, and to the State Committee on Cooperation and Investment one copy.

Enterprises or business cooperation parties, if they do not agree with the opinions concluded by the tax authority in the settlement tax record, have the right to appeal to the General Tax Department and the Ministry of Finance. During the period awaiting resolution of the appeal, enterprises or business cooperation parties must strictly comply with the conclusions of the tax authority.

 

PART IV
RESPONSIBILITIES OF ENTERPRISES AND FOREIGN PARTIES IN BUSINESS COOPERATION
BUSINESS OPERATIONS

1. At least five days before starting operations or dissolution, or changing product lines or production and business fields, or changing the location of the headquarters, enterprises or foreign parties in business cooperation must complete registration procedures with the provincial, municipal, or special zone tax authorities where the enterprise's or branch's headquarters are located (according to Form No. 6 attached).

2. Strictly comply with regulations on tax declaration.

3. Present all accounting books, vouchers, and necessary documents related to tax calculation and settlement when requested by the tax authority.

4. Pay taxes fully and on time as prescribed.

 

PART V
RESPONSIBILITIES AND LIMITATIONS OF THE TAX AUTHORITY

1. Guide taxpayers to declare each type of tax according to established procedures.

2. Inspect tax declarations, check accounting books and vouchers, and request taxpayers to clarify issues related to tax calculation and settlement.

3. Calculate taxes and notify the taxpayer of the amount due.

4. Prepare records and handle tax violations within the authority granted by the State to the tax authority.

 

PART VI
HANDLING VIOLATIONS AND SETTLING APPEALS

1. Tax violations will be penalized as follows:

Failure to comply with tax declaration regulations results in a fine of up to 0.5% (five thousandths) of the tax due for the period in which the violation occurred.

Concealing or underreporting taxes results in a fine of up to five times the concealed or underreported tax amount. Late payment of taxes beyond the prescribed time incurs a daily penalty of 0.5% (five thousandths) of the overdue tax amount.

2. Authority for handling violations and disputes:

Tax violations are handled directly by the tax authority responsible for collecting taxes.

Tax appeals are reviewed and resolved by the tax authority directly responsible for collecting taxes. If the party disagrees with the resolution, they may appeal to a higher-level tax authority or the Ministry of Finance. The decision of the Minister of Finance is final. While waiting for the appeal to be resolved, strict compliance with the tax authority's opinion must be maintained.

 

PART VII
IMPLEMENTATION

Provincial, municipal, and central special zone tax bureaus are responsible for disseminating and guiding enterprises and foreign parties in business cooperation to fully and strictly implement the provisions of this Circular.

Each tax bureau must allocate a dedicated staff force to manage various types of taxes for enterprises and foreign parties in business cooperation. This specialized management unit is responsible for monthly, quarterly, and annual reporting to the Ministry of Finance (General Tax Department) regarding tax collection status and other reports serving general management requirements for enterprises and foreign parties in business cooperation operating within their jurisdiction.

This Circular replaces Circular No. 06-TC/CTN dated March 16, 1989, issued by the Ministry of Finance.

 

FORM NO. 1

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

 

TAX RETURN FOR PROFIT TAX

Period... year...

Name of enterprise (or Foreign Party in Business Cooperation)

...investment permit number...

Main office address:

Tax year: begins... ends...

Accounting currency:

Profit tax rate (stated in investment permit):

Enterprise account number at bank:...

I hereby certify that the figures declared above are accurate. If the tax authority verifies and finds them inaccurate, the entity will be subject to penalties as stipulated in Part VI, Clause 1 of Circular TC/TCT dated... issued by the Ministry of Finance.

 

…on…day…month…year… * Individuals need confirmation from local authorities

Date...month...year... Confirmation of the tax authority (signature, stamp)

 

Notification of the tax authority:

Profit tax payable in the period

To be paid into the National Treasury

Legal Representative of

Tax officer verification:

Signature

 

MODEL NO. 2

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

REINVESTMENT PROFIT TAX RETURN

Name of foreign economic organization or individual:

Address in Vietnam

Operating under investment permit number... dated... of the People's Committee and Provincial Department of Planning and Investment.

Bank account number... at bank...

1. Amount of profit distributed or received from investment activities under investment permit number... (specify which years):

2. Amount of profit transferred abroad:

3. Amount of profit used to contribute to registered statutory capital under the investment permit:...

4. Amount of profit reinvested to increase statutory capital or investment capital:

...

5. Reinvestment period: year... from... to...

6. Amount of profit tax requested for refund:...

I hereby certify that the declarations above are entirely correct. If found incorrect upon inspection by the tax authority, we will be subject to penalties as stipulated in Part VI of Circular TC/TCT dated... issued by the Ministry of Finance.

Date... Month... Year...

Signature

Payment Schedule:

Request the Ministry of Finance to refund the reinvestment profit tax amount... to account number... named... at bank...

Date... Month... Year...

Head of the tax authority

(Signature, stamp)

MODEL NO. 3

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

 

TAX RETURN FOR TRANSFERRING PROFITS OUT OF THE COUNTRY

Name of foreign economic organization or individual:... nationality:...

Participating in capital investment at enterprise... investment permit number...

Main office address of the enterprise...

Amount of profit requesting to transfer out of the country... withdrawn from account number... opened at bank...

This profit was legally obtained through capital investment at enterprise... during the year...

I hereby certify that the declarations above are truthful. If found incorrect upon inspection by the tax authority, we will be subject to penalties as stipulated in Part VI of Circular TC/TCT dated... issued by the Ministry of Finance.

Date... month... year...

Declaration Maker

Tax notification from the tax authority

Amount of profit permitted to be transferred out of the country...

Transfer profit tax payable...

Tax paid into the National Treasury...

Date... month... year...

(signature, stamp)

MODEL NO. 4

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

 

IMPORT DUTY PAYMENT RETURN

Name of enterprise (or Foreign Party in Business Cooperation):... investment permit number

Main office address: …

I solemnly declare that the contents declared hereinabove are true and accurate. If not, I will accept the penalty stipulated in Article 13 of the Law on Export Duties and Import Duties.

... day ... month ... year ...

Confirmation of the tax authority

(signature, stamp)

Conclusion of the Customs Authority:

Amount of Import Tax to be Paid:...

Handling Violations of Export and Import Policies:...

 

FORM NO. 5

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

 

TAX RETURN FOR BUSINESS INCOME TAX AND SPECIAL CONSUMPTION TAX

Month ... Year ...

Name of Enterprise ¹ (or Foreign Partner for Business Cooperation)... Investment License Number:

Head office address:

Account Number... opened at Bank ...

I solemnly declare that the figures declared above are true and accurate. If the tax authority discovers them to be incorrect upon inspection, the enterprise will accept penalties as prescribed in Part VI of Circular No. ... TC/TCT dated ... issued by the Ministry of Finance.

NOTICE FROM THE TAX AUTHORITY

 

Taxable turnover	Machine tools for machining complete units (one operation position) and machine tools for multi-position machining to process metals.	Amount of Tax Due
1. Service Revenue
- ....
- ....
2. Product Sales Revenue

 

... Total Tax Due ...

Tax paid into the National Treasury...

day ... month ... year ...

Tax Authority

(1) Name of Enterprise or Branch with Business Income Subject to Tax or Special Consumption Tax.

 

FORM NO. 6

SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

BUSINESS REGISTRATION FORM

1. Name of Enterprise or Foreign Partner for Business Cooperation ... Investment License Number ...

2. Address: Main Office ...

3. Business Outlets or Branches (Name, Address)...

4. Date of Commencement of Production and Business Activities (or Date of Dissolution) ...

5. Production and Business Activities:

6. Proportion of Products Only for Export or Proportion of Service Revenue from Foreign Currency Expected:

7. Number of Employees:

Of which: Indirect Labor (Management, Administrative Staff): ... Direct Labor:...

8. Accounting Method Applied: ...

9. Fiscal Year Applied: ...

10. Open Deposit Account at Bank ... Account Number...

Bank ... Account Number ...

11. Board of Directors Members (Names, Signatures):...

General Director:

First Deputy General Director:

Second Deputy General Director:

Financial Director:

…on…day…month…year…

Date... month... year...

Representative of the Board of Directors

(Signature, stamp)

Payment Schedule:

On ... / ... / ..., the enterprise (or Foreign Partner) ... has completed business registration procedures with the tax authority ...

... / ... / ...

Tax Authority Representative

(Signature, stamp)