| THE MINISTRY OF FINANCE ------- No. 186/2010/TT-BTC | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom – Happiness --------- Hanoi, November 18, 2010 |
CIRCULAR
GUIDING THE OFFSHORE REMITTANCE OF PROFITS EARNED BY FOREIGN ORGANIZATIONS AND INDIVIDUALS FROM THEIR DIRECT INVESTMENT IN VIETNAM UNDER THE INVESTMENT LAW
THE MINISTRY OF FINANCE
Pursuant to November 29, 2005 Investment Law No. 59/2005/QH11 and guiding documents;
Pursuant to November 29, 2006 Law No. 78/ 2006/QH11 on Tax Administration and guiding documents;
Pursuant to June 3, 2008 Law No. 14/2008/ QH12 on Enterprise Income Tax and guiding documents;
Pursuant to the Government's Decree No. 160/2006/ND-CP of December 28, 2006, detailing a number of articles of the Ordinance on Foreign Exchange;
Pursuant to the Government's Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance,
The Ministry of Finance guides the offshore remittance of profits earned by foreign organizations and individuals from their direct investment in Vietnam under the Investment Law as follows:
Pursuant to November 29, 2006 Law No. 78/ 2006/QH11 on Tax Administration and guiding documents;
Pursuant to June 3, 2008 Law No. 14/2008/ QH12 on Enterprise Income Tax and guiding documents;
Pursuant to the Government's Decree No. 160/2006/ND-CP of December 28, 2006, detailing a number of articles of the Ordinance on Foreign Exchange;
Pursuant to the Government's Decree No. 118/2008/ND-CP of November 27, 2008, defining the functions, tasks, powers and organizational structure of the Ministry of Finance,
The Ministry of Finance guides the offshore remittance of profits earned by foreign organizations and individuals from their direct investment in Vietnam under the Investment Law as follows:
Article 1. Subjects of application
Foreign organizations and individuals that make direct investment in Vietnam under Articles 21 thru 25 of the Investment Law (below collectively referred to as foreign investors) and remit abroad profits from investment in Vietnam under Article 2 of this Circular.
Foreign organizations and individuals that make indirect investment in Vietnam under Article 26 of the Investment Law may remit their profits abroad under relevant laws.
Article 2. Profits to be remitted abroad
1. Profits to be remitted abroad from Vietnam by foreign investors under this Circular are lawful profits they are shared or earn from direct investment in Vietnam under the Investment Law after fulfilling all financial obligations towards the Vietnamese State under regulations.
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