As you may know, foreign investors and foreign-invested companies in Vietnam are obligated to report to the investment registration authorities and statistics authorities of their respective locality on the implementation status of their investment project on a quarterly and annual basis. Specifically, as follows:
(i) Quarterly reports must be lodged by the 10th of the first month of the quarter following the reporting quarter (i.e., by January 10th, April 10th, July 10th and October 10th of each year); and
(ii) Annual reports must be lodged by March 31st, 2022.
Reports are in line with the report form outlined in Circular No. 03/2021/TT-BKHDT dated April 09th, 2021 and lodged online via the National Investment Portal (vietnaminvest.gov.vn).
From 2022 onwards, failing to make a report or making a report late or without all the statutory contents may face administrative fines of up to VND 50,000,000 under Article 15 of Decree No. 122/2021/ND-CP.
Therefore, we highly recommend you pay due attention and fulfill those mandatory obligations fully and promptly to mitigate risks or negative impacts on your ongoing investment in Vietnam.
We hope the above recommendation is clear and helpful for your business. Should you have any concerns, please don’t hesitate to contact us to be advised more specifically and promptly.
