Foreign invested companies search in Vietnam

It is now possible to conduct a company search regarding foreign-invested companies in Vietnam via the website: http://fdi.dkkd.gov.vn/. Any interested person can search information about a foreign-invested enterprise incorporated under investment laws based on company’s name, investment licence’s number or name of the legal representative. The information available includes date of incorporation, name and address of the company, business lines, capital structures and details of the legal representative of the company.

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Written by Nguyen Quang Vu On In ,

Potential tax risks for transfer capital in an offshore company with subsidiaries in Vietnam

In April 2015, the General Department of Tax (GDT) instructs a provincial tax department to consider imposing corporate income tax (CIT) on a capital transfer transaction whereby a Vietnamese buyer acquires the entire equity interest of a Hong Kong company (Offshore Target Co) from a foreign seller. The Offshore Target Co holds shares in a joint venture company in Vietnam. The GDT considers the purchase price that the foreign seller receives from the Vietnamese buyer for sale of shares in the Offshore Target Co as “taxable income arising in Vietnam” (thu nhập chịu thuế phát sinh tại Việt Nam) of the foreign seller under Decree 12/2015. The GDT’s view could raise a tax concern over capital transfer in an offshore company which in turn have shares in a Vietnamese company, at least in case the buyer is a Vietnamese company.

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Written by Nguyen Quang Vu On In ,