Dobly Systems Ltd a Mongolian company is considering establishing operations in Vietnam. It is undecided whether to establish a branch or a wholly owned subsidiary. Vietnam taxes income of both resident companies and branch companies at a flat rate of 30%. It also withholds taxes at a flat rate of 10% on dividends paid by resident companies to companies in Mongolia. Mongolia has income tax rate of 20% on income earned worldwide, but gives a tax credit for taxes paid to another country. Based on the above information, is a branch or subsidiary the recommended form to establish the operations? Justify your