VietnamhasaspecificforeigncontractortaxFCTTherulesdescribethetaxobligationsofforeignentitiesandindividualswhodobusinessinorreceiveincomefromVietnamThecurrentFCTregimeclarifiespreviousambiguitiesOnecannowsaythatthetaxregimeforforeigncontractorsiscompleteForanentitytheFCTiscomprisedoftwopartsCorporateIncomeTaxCITandValueAddedTaxVATTheLawonCorporateIncomeTaxLCITandtheLawonValueAddedTaxLVATcameintoeffectonJanuary12009andbothformanintricatepartoftheforeigncontractortaxregimeThegovernmenthasalsoissued