With outstanding expertise and diversified experiences in business consulting, Advisewise Consulting Group confidently provides a wide range of services in finance – accounting, internal auditing and management with proven track records and high-level of efficiency. We strive for quality, timely and trustworthy performance.
With our experience working with various clients across Vietnam such as Vietnamese owned corporations, FDI corporations, SME companies and corporate branches in various industries, we deeply know the issues that companies normally face while operating in Vietnam as well as the solutions needed to resolve them. Thus, we believe we would be a valuable business associate that solves your problems better than any other consulting services since we are specialized in Textile & Apparel Industry.
The territorial concept has always been fundamental to the taxation of profits tax in offshore. Only those profits which arise in or are derived from offshore are liable to profits tax in those countries. Here are some examples where the profits derived by an offshore company may be treated as offshore sourced and non-taxable in such country.
- Trading profits:
Offshore company negotiates and concludes the terms of the purchase and sale contracts with suppliers and customers outside such offshore country and also carries out the relevant operations outside offshore country. It may be possible to claim that the trading profits so derived are non-taxable in that offshore country.
- Manufacturing profits:
Offshore manufacturing business enters into a contract processing or assembly arrangement with an entity located elsewhere and offshore manufacturing business will provide the raw materials, technical know-how, management, training and supervision for the locally recruited labor etc. It may be possible to claim that 50% of the manufacturing profits are not taxable in that offshore country
- Service income:
Offshore company provides services partly in that country and partly outside that country. It may be possible to claim that part of the service income is attributable to the services rendered outside the offshore country and therefore not taxable.
We can assist you to review your current operations to ascertain the possibility of making an offshore claim, to assist you to gather documentary evidence to support the claim and to handle enquiries from the Inland Revenue Department concerning the claim made. We can also assist you to restructure your current operations to enhance tax planning.
Advisewise can assist you to locate the right partner, develop the appropriate corporate and financial structure, and assist your team in implementing the relationship.
Accurate costing is the difference between earning and losing. Advisewise team can help you to understand what the costs are, identify the non-essential or excessive costs and streamline operations to achieve the desired cost levels.
