BENEFITS OF REGISTERING BUSINESS IN VIETNAM
To promote the development of new companies, Vietnam has enacted preferential financial policies. The following article will discuss the "Benefits of Registering business in Vietnam".
1. Business registration benefits:
- Business registration allows companies to function lawfully and is covered by statute in the process of doing business by the state.
- When a company is formed, it will have its own seal and will sign sales and purchasing contracts, making the transaction more safe.
- Establishing a business will help you gain trust with clients, which will make them feel more comfortable when dealing with you.
- After six months of service, the business would be funded with bank loans.
- Your company would have legal standing if it authenticates its business operations.
- Financial invoices will be used when forming a company.
- Collect money quickly and easily for a variety of business ventures.
- Forming a corporation would aid in the promotion of the image as well as the business name.
- If your business is big, you would be able to generate employment for the general public and thereby contribute to the growth of society.
- Sales and expenditure are easier to manage, as well as benefit sharing, than in household businesses.
2. Advantages of registering a company in Vietnam:
- Corporate income tax incentives:
+ The state has reduced the tax burden by lowering the tax rate in order to stimulate expenditure on the basis of ensuring revenue (currently 20 percent ).
+ High-level corporate income tax incentives for a variety of key investment areas have helped to attract investment, stimulate industry, and create favorable conditions for companies to increase accumulation and investment, the economy, and promote growth.
- Preferential import and export tax: Completing the legal scheme by exempting more hi-tech companies, science and technology enterprises, and science and technology organisations from paying import taxes on raw materials, supplies, and parts that have not yet been manufactured domestically. can be manufactured within 5 years of starting production...
- Land finance incentives: The state has regulations that include incentives for the exemption and reduction of land use levies, land rentals, and water surface rents, thus enhancing the investment climate and resolving interests between the state and land users.
The Government has released Decree No. 35/2017/ND-CP dated 3/ 3/ 4/2017, which stipulates the collection of land use tax, land rent, and water surface rent in economic zones and hi-tech zones with several incentives in order to attract investment, improve management, and efficiently use financial resources of land in economic zones and hi-tech zones.
The above information is about the "Benefits of registering business in Vietnam". For more information and advice on this issue, please contact Doanh Tri Law Firm directly via:
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