Newly issued, amended, supplemented administrative procedures in the field of employment

On 06 May 2021, the Ministry of Labour, War Invalids and Social Affairs issued Decision No. 526/QD-LDTBXH about announcing newly issued, amended, supplemented administrative procedures in the field of employment. Those procedures are:
Newly issued administrative procedures:
• Extension of work permits for foreign workers working in Vietnam (at state and provincial level).

Amended, supplemented administrative procedures:
• Reporting on explaining demand, changing demand for using foreign workers. (at state and provincial level).
• Issuing work permits to foreign workers working in Vietnam (at state and provincial level).
• Re-issuing work permits for foreign workers working in Vietnam (at state and provincial level).
• Confirming that workers are not subject to work permits (at state and provincial levels).
• Proposing to recruit Vietnamese workers for the positions that are expected to recruit foreign workers (provincial level only).

Those who are enterprises with their head office located in a province, city but have representative office or branch at another province, city proceed with the procedures at state-level. The specific contents of the above procedures are mentioned in Part II of the Decision.

Transfer profits to parent company abroad

On 14 May 2021, the Tax Department of Binh Duong issued an Official Letter No. 8296/CTBDU-TTHT to guide on transferring profits to parent company abroad. The content of the guidance is:

Foreign investors shall not be allowed to transfer abroad profits they are shared or earned from their direct investment in Vietnam in the araised profit year if in the financial statements of invested enterprises of the araised profit year still contain accumulated losses after such losses have been carried forward under the regulations on CIT.