Q&A on Asian Bus.

This is the place that our Editors will reply to your various questions about doing business in Asia.
Please utilize it as a solution to the issues you have doing your daily business across Asia.

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Are there any requirements with regard to sending money outside Vietnam?

  • FAQ: VIETNAM
  • Date: 15.07.2010

The repatriation of income must comply with procedures, including the proof of legal documentation as determined by MOF ( Circular 124/2004/TT-BTC  dated 23 December 2004). Withholding tax is incurred where actual outbound remittance of income takes place. If an investor retains the income derived outside the territory of Vietnam or pays for his parent company or its representative office in Vietnam, tax must be declared and paid monthly. However the withholding tax on repatriated profits has been abolished as from 1 January 2004.

See Asia Business Guide , [VIT ¶35-205] Form of outward remittances