According to this Circular, in case the financial statements of the year in which profits arise still have accumulated losses carried over from previous years that have not been fully offset, the investor is not allowed to transfer the profits arising in that year.
Regarding the time of transferring profits, investors are only allowed to transfer profits abroad after the financial statements have been audited and the enterprise in which the foreign investor participates in capital investment has fully fulfilled its obligations. finance related to the income that makes up that profit
When transferring profits, the Investor must make a Profit Transfer Notice (according to the form attached to this Circular) and submit it to the managing tax agency no later than 7 working days.
The Circular takes effect 45 days after the date of signing and replaces Circular No. 124/2004/TT-BTC dated December 23, 2004, Source: LuatVietnam.NET
