Vietnam – Guidance On The Tax Policy Applied To Transfer Of Profit Abroad.

6 October 2021

 

Tax Department of Hai Phong City has issued Official Letter No. 2323/CTHHP-TTHT to guide on the transfer of profits abroad with the following contents:

 

• Enterprises that have the foreign investment (the “Enterprise”) must implement fully all financial obligations towards the Vietnam State by the laws related to the incomes that create profits for foreign investors to transfer abroad.

 

• The Enterprise must notify the tax authority which directly managing the Enterprise before transferring profits abroad. Notification must be made at least 07 working days in advance.

 

• When transferring profits abroad, the Enterprise must pay tax on the amount of money transferred abroad to investors.