With effect from 1 April 2016, the categories of foreign
workers which can be exempt from work permit has been expanded.
Among those is a category for foreign nationals entering Vietnam
for employment as an expert, manager, executive director or
technician for a period less than 30 days per entrance and the
cumulative period does not exceed 90 days in any one year.
Furthermore, the need to obtain work permit exemption certificate
from the Department of Labour is waived for this category of
foreign workers. This new measure certainly provides greater
flexibility for international employers who wish to bring in senior
personnel from overseas to provide technical expertise and training
for the benefit of the local employees and projects. Although work
permits may be exempt provided set conditions are met, foreign
workers who derive employment income for services rendered in
Vietnam may still have a Vietnamese income tax paying
Pursuant to Resolution No. 01/NQ-CP dated 7 January 2016, the
Government will proactively develop plans to ensure balance of
State budget collection in 2016 amid fluctuations in oil prices. To
achieve this goal, one of the plans the Government has is to
strengthen tax control and inspection to minimize revenue losses
and maximize revenue collection. Transfer pricing is an area
specifically mentioned; therefore, taxpayers can expect to see more
frequent and comprehensive audits will be conducted during 2016 in
the transfer pricing arena. As such, having contemporaneous
transfer pricing documentation is something taxpayer should be
prepared for in the event of being selected for an audit. Taxpayers
may also want to revisit their transfer pricing disclosures to
ensure consistency and proactively rectifying errors to minimize
questioning from the authorities.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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