Common Questions About Running a Business
What counts as a business expense in Vietnam?
One of the perks of running a business is that you can deduct common expenses so long as they qualify. The General Tax Department, Ministry of Finance defines an eligible business expense as ordinary and necessary—essentially, something that’s common in your particular area of business and needed to efficiently do business, such as a truck for a moving company.
Do my business agreements need to be in writing Vietnam?
Generally speaking, contracts and agreements do not need to be in writing, although there are exceptions. Anything involving goods over $500, or services that could take longer than one year typically need to be in writing. Aside from a legal requirement, having your agreements in writing can help ensure you and your business partners are on the same page and protect your rights if there’s ever a disagreement.
How do I expand my business in Vietnam?
Once you have a handle on everything you may start to look at expanding. There are lots of ways to expand: offering new goods or services, finding new markets, and hiring new employees. After you decide which option fits your business the best it’s important that you have a reasonable Business Plan in place.
What tax information in Vietnam should I be aware of?
Small business and large multinationals alike have to pay taxes. Property taxes, payroll taxes, and fees for licenses and permits can all come into play when you’re running your business. While you often won’t have a choice of paying taxes choosing to incorporate can give you more option with how to pay them. Visit our Incorporation page to learn more.
Why Choose GBS?
- We Make It Simple: We check required documents, file your paperwork, and follow up with goverment agencies. All you need to do is tell us a little bit about your req.
- Specialists to Answer Your Questions: Our specialists have supported thousands of businesses just like yours. They can walk you through the entire process by phone and answer any questions you have.
- Legal Help: Whether you need to connect with a lawyer, create legal documents for your business, or need help staying compliant, we're here to help your business grow.
Need More Information?
- Vietnam company formation
- Company registration in Vietnam
- Doing Business in Vietnam
- What Kind Of Business Structure Should I Use When Starting a Business?
- Vietnam’s Visa and Work Permit Procedures
- Common Service Contract Questions
- Common Intellectual Property Questions
- Legal Consultation Fee
- Personal income tax for resident and non-resident expatriates
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Global Business Service (GBS) Co., Ltd
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