A Vietnamese furniture factory supplying U.S. retailers: what the missing U.S.–Vietnam tax treaty means
The U.S. and Vietnam signed a tax treaty in 2015, but it still isn't in force as of November 2026. A Vietnamese factory selling FOB is barely affected. Once it adds a U.S. warehouse, U.S. staff or a U.S. subsidiary, there's no permanent establishment protection, and dividends from a U.S. subsidiary to a Vietnamese parent carry 30% withholding instead of the 10% a Chinese parent gets.
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