Foreign invested enterprises registered in Vietnam shall pay attention to and comply with the key corporate compliance requirements as follows:

1. Tax Compliance
   
   

   (1)	Corporate Income Tax Quarterly filing of corporate income tax returns is not required in Vietnam. However, Enterprises are required to calculate and pay provisional corporate income tax on a quarterly basis (if any) based on the actual revenue and expenses of the quarter. The deadline for the provisional corporate income tax payment is the 30th day of the following quarter. The provisional corporate income tax payments for the first three quarters shall be more than 75% of the total corporate income tax finalization amount, otherwise late tax payment interest will apply. An annual corporate income tax finalization return shall be submitted to the tax authority on or before the last day of the third month from the end of the tax year.
   (2)	Value Added Tax The taxpayer shall submit monthly valued added tax returns and settle tax payments on or before the 20th day of the following month, or submit quarterly value added tax returns and settle tax payments on or before the last day of the first month of the following quarter. Quarterly declaration or filing of value added tax is applicable to taxpayers with total turnover from sales of goods or services of the proceeding year not exceeding VND50 billion. A newly established company shall file value added tax quarterly. One year later, monthly filing shall be applied if its annual turnover of the previous year is more than VND50 billion.
   (3)	Business License Fee Enterprises in Vietnam are required to pay the business license fee annually on or before the 30th day of January. A newly established enterprise shall pay business license fee annually starting from the second year after its incorporation. The amount of business license fee applicable to economic entities can be divided into three classes based on the amount of registered capital and the type of registration, which are specified in the following table: NO. Class Applicable Amount 1 Registered capital of more than VND10 billion VND3 million per year 2 Registered capital of VND10 billion or less VND2 million per year 3 Branches, representative offices, other economic entities VND1 million per year
   (4)	Personal Income Tax Enterprises as employers are obliged to withhold personal income tax from their employees, make tax payments and submit personal income tax returns to the tax authority. For employment income, personal income tax can be declared and paid either on a monthly or quarterly basis. (depending on the enterprise's value added tax is declared and paid on a monthly or quarterly basis) The deadline for monthly tax declaration and payment is the 20th day of the following month. The deadline for quarterly declaration and payment is the last day of the first month of the following quarter. The enterprise shall submit an annual personal income tax finalization return and settle the final tax amount to the tax authority on or before the last day of the third month from the end of the tax year.

   
   
2. Statutory Audi
   
   The annual financial statements of a foreign invested company in Vietnam must be audited by an independent auditing firm legally operating in Vietnam. Audited annual financial statements must be completed within 90 days of the end of the financial year. The audited financial statements shall be filed with the applicable licensing authority, ministry of finance, local tax authorities, department of statistics and other relevant authorities.
   
   
3. Investment Projects Implementation Report
   
   According to the requirements of the Ministry of Planning and Investment of Vietnam, all foreign invested enterprises registered in Vietnam shall submit investment projects implementation reports through a designated website from 1 March 2022. Failure to submit the report as required will result in fines. The deadline for submitting the report is as follows:
   (1)  Quarterly report: on or before the 12th day of the first month of the following quarter;
   (2)  Annual report: on or before March 31 of the following year.
   

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