On 30 November 2009, Sethaphong Phadungpisuth, Managing Director of Gnosis, was invited to be one of speakers in the Workshop “Vietnam : Setting up a Company, Tax Planning and Financial Management for Foreign Investor”, which was arranged by Pelico Advanced Learning Academy, Vietvalues Audit and Consulting Group and PL Group. This workshop provided a wide coverage of the practical accounting and tax issues in Vietnam.
Other Key speakers are
- Mr. Lim Chor Ghee, Partner, Vietvalues Consulting Group, Vietnam
- Mr. Noel Solomon, Manager, Vietvalues Consulting Group, Vietnam
- Mr. John Yue, Partner, DNH Law LLC, Vietnam
Sethaphong spoke about the Tax Impacts for Thai Investors who invest in Vietnam. The Content covered on Profit Repatriation from Vietnam in terms of Tax concerns, Foreign Tax Credit, Tax Sparing, Funding Consideration, Service Fee Charge, and Employee Consideration.
Some notes from the workshop:
“Tax paid in Vietnam can be used as Tax Credit for corporate income tax computation in Thailand.”
“Dividend from Vietnam is not subject to withholding tax. Where investment in Vietnam Co less than 25%, Thai investor may not be able to claim tax sparing under Thailand/Vietnam Double Tax Agreement although Vietnam company is granted investment promotion in Vietnam”
“Staying in Thailand for 180 days or more, salary earned in Vietnam will be taxed in Thailand if salary brought in to Thailand in the same year”
If you have any questions on investment in Vietnam and Thailand, please feel free to contact us for further information. With having extensive of Corporate Advisory Services, Gnosis is recently partnered with PL Group , which provides the Accounting, Auditing and Tax Consulting service based in Thailand and joins the MSI Global Alliance, the world’s leading international alliances of independent legal and accounting firms with over 250 member firms in 100 countries. Vietvalues Group is also a member of MSI based in Vietnam.