Remittance abroad of profits from investment in Vietnam
Time to transfer profits abroad
- Remittance of profits abroad annually
Foreign investors are entitled to annually transfer the profits shared or earned from their direct investment activities in Vietnam overseas at the end of the fiscal year, after the enterprises in which the foreign investors participate. Investment has fulfilled financial obligations towards the Vietnamese State in accordance with the law, has submitted audited financial statements and fiscal year corporate income tax finalization declarations to management agencies. direct tax.
- Remittance of profits abroad upon the end of direct investment activities in Vietnam
Foreign investors are entitled to remit profits abroad upon the termination of their direct investment activities in Vietnam after the enterprise in which the foreign investor participates in investment has fulfilled their financial obligations toward the Vietnamese State. In accordance with the law, have submitted audited financial statements and corporate income tax finalization declarations to the direct tax authority and fulfilled all obligations under the Law on Administration. tax administration.
- Responsibility of the enterprise where the foreign investor participates in capital investment
Enterprises, where foreign investors make capital investments, shall fulfill all financial obligations toward the Vietnamese State in accordance with the law regarding incomes forming profits that investors. Foreign investors move abroad.
Determine the number of profits to be remitted abroad
– Annual profit remitted abroad is the profit shared or earned by a foreign investor in a fiscal year from direct investment activities based on audited financial statements and finalization declaration. corporate income tax of the enterprise in which the foreign investor invests plus (+) other profits such as the number of profits not transferred from previous years; minus (-) the foreign investor has used or committed to re-invest in Vietnam, the profits the foreign investor has used to cover the investor’s expenses foreign countries for production and business activities or for personal needs of foreign investors in Vietnam.
– Profits remitted abroad at the end of investment activities in Vietnam are the entire profits earned by foreign investors during their direct investment in Vietnam, minus (-) profits have been used for reinvestment, profits remitted abroad during the operation of foreign investors in Vietnam, and amounts used for other expenditures of foreign investors at Vietnam.
– Foreign investors are not allowed to remit abroad the profits distributed or earned from direct investment activities in Vietnam in the year in which the profit is generated in the case in the financial statements of the enterprise in which the investor is Foreign investment in the year in which a profit is generated still has accumulated losses after the loss has been carried forward in accordance with the provisions of the law on corporate income tax.
Notice of profit remittance abroad
Foreign investors directly or authorize enterprises in which foreign investors participate in investment to make notices on the remittance of profits abroad and send them to the tax agency directly managing the enterprise in which the investor is At least 07 working days before making the remittance of profits overseas.
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