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Doing business in host country involves with statutory compliance, where the enterprise is required to fully comply with periodical filings and submitting tax returns. Compliance Calendar is designed and aims to provide deadline of statutory report. Based on set schedule, the company can arrange for tax filings and submission on time in year 2024. Download […]
Positive news from Vietnam Government pertaining to VAT rate that it reduces from 10% to 8%, applied for the period from 1 July 2023 to 31 Dec 2023. 8% VAT is applied for all goods and services, EXCEPT: Telecommunications Finance, banking, insurance and securities related service Real estate business Prefabricated metal and metal products, mining […]
FCT is not a separate type of taxation. FCT is a term referring to the Value-Added Tax (VAT) and Corporate Income Tax (CIT) / Personal Income Tax (PIT) obligation of foreign contractors/sub-foreign contractors: For foreign organizations: VAT and CIT For foreign individuals: VAT and PIT APPLICABLE SUBJECTS Foreign contractors (FC) Foreign business organizations with […]
OVERVIEW OF CORPORATE INCOME TAX IN VIETNAM Corporate Income Tax (CIT) is a kind of direct tax, imposed on assessable income deriving from business activities of providing goods & services from the Company to its customer. TAXPAYER CIT taxpayer are organizations engaging in production and trading of goods or in provision of services with taxable […]
Audit is compulsory procedure at year-ending for foreign direct investment (FDI) enterprise and listed company, in order to obtain audit’s opinion regarding the financial statements prepared by such entities. Once audited financial statement (AFS) is issued, it should be submitted to respective authorities, along with online lodgment of tax finalization returns. In Vietnam, a FDI […]
Funding through foreign loan is the most common vehicle to fulfil the needs of working capital of Vietnam-based enterprise for operation, considering the context of Vietnam’s economic development. There are three types of foreign loans, in particulars: (i) short-term loan, (ii) long-term loan and (iii) loan under deferred imported goods. Strictly controlled by the State […]
Value-Added Tax (a.k.a VAT) is a kind of tax indirectly applying on goods and services (including goods and services purchased from organizations and individuals overseas) used for the purposes of production, trading and consumption in Vietnam. DEFINITION VAT taxpayers shall be organizations and individuals producing and trading VAT taxable goods and services in Vietnam, regardless […]
Invoice (a.k.a VAT invoice or “Red Invoice”) is one of significant supporting document in terms of accounting and tax declaration for all enterprises when doing business in Vietnam. VAT invoice is required to register with tax authority prior issuance. The Company are free in designing e-invoice template following their desires. However, there are certain information […]
Doing business in host country involves with statutory compliance, where the enterprise is required to fully comply with periodical filings and submitting tax returns. Compliance Calendar is designed and aims to provide deadline of statutory report. Based on set schedule, the company can arrange for tax filings and submission on time in year 2023. Link […]