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Foreign contractor tax for charges of technical consultancy abroad
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On 12th August 2010, Ngày 12/8/2010, General Department of Tax issued Document No. 3024/TCT-HTQT guiding on details some contents of Agreements on avoidance of double taxation between Germany and Vietnam. Thereby, income causes from supplying equipment machinery, in which design or technical consultancy implemented in Germany by contractor, are exempted from corporate income tax in Vietnam.
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Regulations on accounting records of foreign contractor
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Foreign contractor which has permanent place, carries out business activities in Vietnam has to conduct accounting work follow regulations of Law on accounting, accounting standard system and enterprise accounting regime in Vietnam. In case contractor, who uses accounting with foreign language, cannot give the accounting records in Vietnamese shall be sanctioned for administrative violation in the accounting field as stipulated at Decree No. 185/2004/ND-CP on 4th November 2010 of Government. The above content of Document No. 3045/TCTKK on 13/08/2010 is written by General Department of Tax.
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