[Q&A] #017 - # 10 Most Common Compliance Questions for Newly Established Businesses in Vietnam

Starting a business in Vietnam? Stay compliant with these key insights:

1.  Changing business registration info? Notify within 10 days.

2.  VAT declarations: Monthly by 20th, quarterly by 30th.

3.  E-invoices are mandatory. Register before use.

4.  Register new employees for social insurance within 30 days.

5.  Develop and register internal labor regulations.

6.  Protect customer data as per Decree 13/2023/NĐ-CP.

7.  VAT refunds possible if conditions met.

8.  Calculate and pay employee PIT monthly.

9.  Conduct regular labor safety training.

10.  Protect your brand: Register trademarks for 10-year periods.

# 10 Most Common Compliance Questions for Newly Established Businesses in Vietnam

Q&A:

1. What are the steps to change business registration information (such as address, business lines)?

- Notify the Business Registration Office where the company's headquarters is located within 10 days from the date of change.

- Required documents include:

- Notification of changes in business registration content

- Decision and copy of meeting minutes from the owner/member council/shareholders' meeting

- Amended charter

2. How to declare and pay Value Added Tax (VAT) monthly/quarterly?

- Declare through the General Department of Taxation's electronic tax system

- Filing deadlines:

- Monthly: No later than the 20th of the following month

- Quarterly: No later than the 30th of the following quarter

- Pay tax no later than the last day of the tax return filing deadline

3. Regulations on registering and using electronic invoices?

- Mandatory use of electronic invoices

- Register with tax authorities before starting to use

4. Procedure for registering social insurance, health insurance, and unemployment insurance for new employees?

- Register with the Social Insurance agency within 30 days from the date of signing the labor contract

- Documents include: Registration form, list of employees, copy of labor contracts

- Pay social insurance, health insurance, and unemployment insurance monthly, no later than the last day of the month

5. How to develop and register internal labor regulations?

- Develop based on the Labor Code and company specifics

- Consult with the employee representative organization (Trade Union)

- Register with the Department of Labor, Invalids and Social Affairs within 10 days from the date of issuance

- Publicly post at the workplace

6. Regulations on protecting customers' personal data?

- Comply with Decree 13/2023/NĐ-CP

- Develop personal data protection policy

- Collect and use data with the subject's consent

- Apply appropriate security measures

- Do not transfer data to third parties without permission

7. Conditions for VAT input tax refund for new businesses?

Businesses need to meet all of the following conditions:

- Register to pay taxes using the deduction method

- Have been granted a business registration certificate

- Prepare and keep accounting books and records as required

- Have a bank account under the business's tax code

Tax refund processing time: 40 days from the date of receiving complete documents

8. How to calculate and pay personal income tax for employees?

- Deduct PIT from employee salaries according to the progressive tax rate

- Declare and pay PIT monthly, no later than the 20th of the following month

- Annual PIT finalization no later than the last day of the 3rd month from the end of the year

9. Regulations on organizing labor safety training for employees?

- Comply with Decree 44/2016/NĐ-CP

- Organize training upon recruitment and annually

- Content: legal regulations, safety rules, equipment operation procedures, accident prevention measures

- Keep training records

10. How to protect the company's brand name and logo?

- Register trademark protection zthe Intellectual Property Office

- Documents include: Application form, trademark sample, list of goods/services

- Protection period of 10 years, can be renewed multiple times

- Use the ® symbol after being granted a protection certificate

Join Van Pham LLC as we explore frequently asked questions about compliance for newly established businesses in Vietnam.

Note: These questions and answers provide basic information on important compliance issues. However, as laws may change, businesses should consult experts or relevant authorities for the most up-to-date and accurate information.

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