China Plus One Model, Vietnam’s Foreign Contractor Tax – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
Many companies in China are looking to diversify their operations by adding another location in Asia. This strategy is known as the ‘China plus one’ model.
The article makes the case for why India should be your China plus one.
The Eurasian Economic Union (EAEU) is a trade bloc that includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The Association of South-East Asian Nations (ASEAN) includes the countries of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
The article discusses emerging Central Asian and South-East Asian supply chain developments.
The best practices to adopt when investing in Belt and Road Initiative (BRI) projects.
Foreign contractors are subject to taxes on payments for work done in Vietnam based on the contracts signed with a Vietnamese partner in the form of the foreign contractor tax (FCT).
FCT is not a separate tax, but typically comprises a combination of value added tax (VAT) and corporate income tax (CIT), or personal income tax (PIT) for the income of foreign individuals.
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