These expenses are normally advanced by the investors, the corporate/individual founders, or other related entities or individuals, and subsequently charged back to the company after establishment. Pre-establishment expenses commonly include such matters as business name registration, professional consultancy services, government fees, and certain expenses such as costs for wages and salary, research, purchase of equipment, advertising before establishment, office rental/land fees. Accordingly, one of the major concerns of foreign invested entities or local entities during this period is how to maximize the deductibility of pre-establishment expenses for corporate income tax (CIT) calculations after the establishment, particularly for investment projects requiring substantial costs, such as for setting up factories, purchasing machinery, etc. the number of international visitors to Vietnam, down 96.4% over the previous year by road reached 45.6 thousand turns of people, accounting for 29% and decreasing by 92.5% by sea reached 0.6 thousand arrivals, accounting for 0.During the formation of a new business there are some inevitable expenses incurred prior to the company’s formally coming into existence. The number of foreigners coming to Vietnam this year only reached 157.3 thousand arrivals, down 95.9% over the previous year, of which arrivals by air reached 111.1 thousand arrivals, accounting for 70.6%. However, by 2021, the Covid-19 pandemic has severely affected the tourism industry. Of the total number of visitors to Vietnam, visitors from Asia reached 14.4 million arrivals, accounting for 79.9%, up 19.1% compared to 2018, of which China reached 5.8 million arrivals, an increase of 16.9% South Korea 4.3 million arrivals, up 23.1% visitors from Europe reached 2.2 million arrivals, up 6.4% visitors from the Americas reached 973.8 thousand arrivals, up 7.7% visitors from Australia reached 432.4 thousand arrivals, down 1.2% Visitors from Africa reached 48,000 arrivals, up 12.2%. ![]() Specifically, the report said that in 2019, on average, a foreign tourist when traveling in Vietnam will spend about 35.5 USD for room rental, 25.8 USD for dining, 18.9 USD USD for transportation, 19.7 USD for shopping and about 18 USD for other expenses such as sightseeing, medical services…Īccording to the General Statistics Office, 2019 marked the success of Vietnam’s tourism with the number of international visitors reaching over 18 million arrivals, the highest ever, up 16.2% compared to 2018, in which visitors by air reached 14.4 million arrivals, accounting for 79.8% of international arrivals to Vietnam, up 15.2% by road reached 3.4 million turns of people, accounting for 18.7% and increasing by 20.4% by sea reached 0.3 million arrivals, accounting for 1.5% and increasing by 22.7%. This means that expenses for food, travel, shopping… will also be more. Source: GSOīy 2019, the average daily spending of foreign tourists when traveling in Vietnam reached 117.8 USD in 2019, an increase of 1.2 times compared to 2009. Specifically, on average a day, a foreign tourist will spend about 19.2 USD (accounting for 21.1%) for eating and drinking and about 14.9 USD (accounting for 16.3%) for transportation.Īverage spending per day of international visitors to Vietnam in the period 2009-2019. The cost of room rental, food and travel, are the two expenses that account for the second and third highest proportions in the average expenditure structure of a foreign visitor when traveling in Vietnam. In the average daily expenditure of foreign tourists in Vietnam in 2009, most of the spending of tourists coming to Vietnam will be for room rental, with a daily rental cost of about 25.7 USD per person, accounting for about 28.2% of the total average daily expenditure of international visitors when traveling to Vietnam. However, the spending level unexpectedly decreased to $95.8 in 2013 and tends to increase again in the period 2017-2019. ![]() Specifically, the average daily expenditure of foreign tourists in Vietnam in 2009 was 91.2 USD, but this figure increased to 105.7 USD in 2011. Specifically, if in 2009, the average daily expenditure of foreign tourists in Vietnam was only 91.2 USD, this figure has increased by 1.2 times after 10 years.Īccordingly, the average daily expenditure of international visitors to Vietnam has increased in the period 2009-2019. According to the General Statistics Office’s 2021 Statistical Yearbook, the average daily expenditure of international visitors to Vietnam has grown in the period 2009-2019.
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