Vietnam: Some Reports That Investors And Enterprises Must Submit At The End Of The Year

Submitting reports is a mandatory obligation that enterprises must perform in some cases according to each field. This is for the purpose of management of competent authorities. The enterprise delaying reporting will face some risks of being fined for administrative violations. In case the enterprise submits an application to carry out administrative procedures, the management agency will force the enterprise to fulfill the obligation of reporting before the agency reviews the enterprise's application. At the end of the year, enterprises need to pay attention to some reports that enterprises must submit as listed below.

1. Investment reports applied to foreign-invested enterprises operating in Vietnam

Report on the implementation of investment project

Investors and economic organizations implementing investor projects shall submit reports to investment registration authorities and local statistical agencies on the implementation of investment projects, including the following contents: investment capital, results of investment activities, information on labor, payment to state budget, investment in research and development, environment treatment and protection, specialized indicators.

Quarterly reports shall be submitted before the 10th of the first month of the quarter following the reporting quarter, including the following contents: investment capital, net revenue, exports, imports, labor, taxes and budget payments, use of land and water surface.

Annual reports shall be submitted before March 31 of the following year of the reporting year, including indicators of quarterly reports and indicators on profits, employee's income, expenditures and investments in scientific research, technology development, environmental treatment and protection, and origin of used technology.

Reports on investment monitoring and evaluation, accordingly the annual reports shall be submitted before February 10 of the following year (2024).

2. Reports on general employment situation

Every year (before December 5), employers must report the labor changes to the Department of Labor, War Invalids and Social Affairs through the National Public Service Portal and notify the social insurance agency of the district where their headquarters, branches, and representative offices are located (note that in addition to the annual reports, the enterprise must also submit a 6-month report before June 5).

In case employers cannot report the labor changes through the National Public Service Portal, a paper report according to Form No. 01/PLI of Appendix I to the Department of Labor, War Invalids and Social Affairs and notify the social insurance agency of the district where their headquarters, branches, and representative offices are located.

For employees working in industrial parks and economic zones, employers must report the employee changes to the Department of Labor, War Invalids and Social Affairs and the social insurance agency of the district where their headquarters, branches, and representative offices are located, and the management board of industrial parks and economic zones for monitoring.

3. Report on the employment of foreign workers

Before July 5 and January 5 of the following year, employers of foreign workers must submit a first-half-year report and an annual report on employment of foreign workers according to Form No. 07/PLI, Appendix I. The reporting period for the first-half-year report is from December 15 of the year preceding the reporting period to June 14 of the reporting period. The reporting period for the annual report is from December 15 of the year before the reporting period to December 14 of the reporting period.

4. Foreign loans

Enterprises report on the implementation of foreign loans. Monthly, no later than the 5th of the month following the reporting period, the borrower must report on the implementation of short-term or medium-term or long-term loan on the website. In case the website has technical errors and the borrowers cannot submit the report, they shall submit the written report according to the form.

5. For enterprises with a Trading License

Enterprises shall submit reports on the purchase and sale of goods and activities directly related to the purchase and sale of goods.

Annually, before January 31, foreign-invested enterprises are obliged to report and provide documents or explain the issues related to the purchase and sale of goods and activities directly related to purchase and sale of goods according to the prescribed form.

Foreign-invested enterprises are obliged to report, provide documents or explain issues related to the issues related to the purchase and sale of goods and activities directly related to purchase and sale of goods, operation of retail outlets at the request of competent state management agencies.

6. Reports of enterprises providing labor outsourcing services

Every 6 months and annually (annual reports submitted before December 20), enterprises shall submit reports on the labor outsourcing activities. The report shall be sent to the Chairman of the Provincial People's Committee, Department of Labor, War Invalids and Social Affairs and the Management Board of industrial parks and economic zones where the enterprise's headquarter is located. At the same time, the enterprise reports to the Department of Labor, War Invalids and Social Affairs and the Management Board of industrial parks and economic zones where enterprises carry out labor outsourcing activities on the labor outsourcing activities in that area in case the enterprise moves to another provincial area (6-month report submitted before June 20).

7. Reporting obligations of enterprises having registered e-commerce service provision websites

Before January 15 every year, traders and organizations setting up e-commerce service provision websites must report to the Ministry of Industry and Trade statistics on the previous year's operations. Reports on statistics on the previous year's operations to the Ministry of Industry and Trade are submitted on the E-commerce Operations Management Portal or in written form by post.

Periodic reporting activities are carried out to help competent agencies manage the situation of enterprises within the field that the agency manages. Reporting activities are not complicated or take much time for enterprises. However, in reality there are many types of reports in a year depending on the activities of the enterprise. Therefore, enterprises easily miss the right time to submit the reports. To control this problem, we believe that enterprise's personnel need to schedule from the beginning of the year the types of reports that must be submitted and information that needs to be collected to make reports, or the enterprise can use reporting services from legal service providers.