Official Letter No. 1376/CTBDU-TTHT regarding tax policies for the transfer of contributed capital in foreign currency

• In cases where a company is involved in the transfer of contributed capital by an individual investor who is a resident, the tax obligations shall be carried out following the provisions of Clause 1, Article 11 of Circular No. 111/2013/TT-BTC and Clause 1, Article 10 of the Accounting Law No. 88/2015/QH13.
• If the company maintains its accounting records in Vietnamese dong and an individual transfers contributed capital in foreign currency, the transfer price must be determined in Vietnam dong based on the average exchange rate in the interbank foreign exchange market as announced by the State Bank of Vietnam at the time of transfer.

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