Is it mandatory for a representative office to have a tax code? Is representative office in charge of submitting reports to Tax Bureau?

Question: Is it mandatory for a representative office to have a tax code? Is representative office in charge of submitting reports to Tax Bureau?

Answer:

It is mandatory for a representative office to have a Tax code however it isn't supposed to pay CIT as well as perform accounting ledgers as regulated.

Besides, representative office must register banking ledgers and cashbook to prove the purpose of cash flow usage transfered from holding company overseas to Vietnam. Representative must perform PIT deduction, return, payment and CIT of salary payment, bonus and service fee for dutiable objects. Moreover, representative office might still prepare internal financial statements if requested by holding company.

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