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Compliance Checklist for Representative Office in Early 2017

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Compliance procedures for foreign representative offices are slightly different from compliance procedures for domestic and foreign corporations in Viet Nam. However, any businesses in Viet Nam should obtain an internal audit plan to examine tax, human resource, payroll and compliance reports in 2016 for a better 2017

In the first quarter of 2017, foreign representative offices need to strictly monitor the implementation of annual compliance tasks required by the state agencies. In particular, representative offices need to prepare and submit several compliance reports which are mentioned below:

A. Tax – Accounting

1. Compulsory tasks

  • Settlement of personal income tax for representative office
  • Settlement of personal income tax for individuals having multiple incomes or direct incomes from abroad

2. Other important tasks

  • Petty cash and Cash Book preparation, collect and organize all related documents and invoices for Tax assessment
  • Internal audit tax declaration, payment, invoices and vouchers
  • Examine the balance – tax situation with the tax agency

B. Representative office annual operations report

  • Submit an annual operations report on the office’s activities to the industry and trade department

C. Labor and Payroll

1. Compulsory tasks

  • Sign labor contracts and contract annex for new salary agreement in 2017 for every Vietnamese employees
  • Provide letter of appointment, confirmation of income in 2016 for foreign employees
  • Adjustment procedures for insurance declaration and payment
  • Register and amend payroll system, internal labor regulations, labor agreement… To update new regulations and benefits policies that brought into effect in early 2017

2. Other important tasks

  • Collect, organize and update staff information such as pay raise, attendance, overtime, discipline
  • Certifying income, personal income tax withholding vouchers for seasonal employees, employees have direct income from abroad
  • Identify list of personnel subject to settle personal income tax directly to the authorities



Compliance Checklist for Representative Office in Early 2017

For the past 10 years, Viva Business Consulting has been delivering outstanding monthly support for 100+ foreign representative offices. As a Vietnamese based company, we appreciate your business and investment here in Vietnam, let us know your concerns, we simplify it!


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