Comprehensive solutions for foreign companies investing in Vietnam

Beta Connection is a group from Singapore, specializing in providing information technology solutions (products of Microsoft), as well as providing digital transformation and data security services for safe remote work. Beta Connection has been present and invested in many Southeast Asian countries such as: Thailand, Myanmar, Philippines, Malaysia, Indonesia, and Vietnam is one of their potential markets. In 2018, Beta Connection established a subsidiary in Vietnam to provide products and services for the Vietnamese market

Beta Connection, like other foreign-invested enterprises entering Vietnam, pays close attention not only to the country's macro policies but also to crucial aspects such as tax regulations, labor and social insurance matters, and the local accounting reporting system. The company seeks a dedicated partner to guide them from the outset, offering solutions for potential challenges and assisting with administrative procedures in Vietnam. The desired services include periodic tax consultation and declaration, advisory support for the Board of Directors on legal matters pertinent to foreign investors' rights and obligations, addressing reports related to FDI enterprises, and access to a network of legal partners for comprehensive support throughout Beta Connection's investment journey in Vietnam.

TPM's solutions

TPM, leveraging a team of tax consultants with over a decade of experience, recognizes the distinctive features of Beta Connection's operation in the information technology industry. Offering steadfast support, TPM has assisted Beta Connection by providing solutions to ensure the company's operational security. This includes services such as periodic tax declarations (VAT, CIT, PIT), determining VAT and CIT incentives specific to the IT sector, ensuring compliance with tax laws, and timely submissions.

Furthermore, Beta Connection faced various challenges during its production and business processes, requiring expert advice. TPM's team thoroughly examined the company's records, delved into legal documents, and offered recommendations for arising issues. This encompassed guidance on contractor tax obligations linked to service fees paid to foreign partners, profit transfers from Vietnam to abroad, and tax declarations related to capital investments.

RESULTS

As a software company with a diverse workforce, including both Vietnamese and foreign employees, Beta Connection also sought human resources solutions from TPM. These services involve drafting labor contracts, establishing labor content, monitoring contract statuses, calculating salaries, and allocating allowances. This comprehensive support ensures the company upholds the rights of its workers, especially foreign staff, while adhering to Vietnam's Labor Law and Social Insurance regulations.

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