Time for profits remittance abroad in Vietnam

Time for profits remittance abroad in Vietnam (Internet image)

Article 4 of Circular 186/2010/TT-BTC stipulates the time for profits remittance abroad in Vietnam as follows:

1. Annual profits remittance abroad

Foreign investors can annually remit abroad profits they are shared or earn from their direct investment in Vietnam when fiscal year is over after enterprises in which foreign investors join investment have completed financial obligations to the State of Vietnam under the provisions of law and submitted audited financial statements and enterprise income tax finalization declarations of that year to direct managing tax offices.

2. Profits remittance abroad when finished direct investment activities in Vietnam

Foreign investors can remit abroad profits when finished direct investment activities in Vietnam after enterprises in which foreign investors join investment have accomplished financial obligations towards the Vietnam State under law, submitted audited financial statements and enterprise income tax finalization declarations to direct managing tax offices and implement fully all the obligations under the Law on Tax Administration.

3. Responsibilities of enterprises in which foreign investors joint capital investment

Enterprises in which foreign investors joint capital investment have the responsibilities for implementing fully all financial obligations towards the Vietnam State under laws regarded to incomes make profits foreign investors remit abroad.

More details can be found in Circular 186/2010/TT-BTC, which comes into force from January 2, 2011.

Nguyen Phu

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