Other Briefings
Vietnam Amends CIT and VAT Through Decree 91
Vietnam has issued amendments to certain provisions related to the country’s corporate income tax (CIT) and value-added tax (VAT). The changes have been laid out in Decree 91/2014/ND-CP and will become effective on October 15, 2014.
Vietnam to Raise Special Consumption Tax on Cigarettes, Beer, and Spirits
Vietnam’s National Assembly Standing Committee (NASC) has announced that the special consumption tax (SCT) on cigarettes, beer, and spirits (a “sin tax”) will be raised on January 1, 2016. SCT is a form of excise tax that applies to the production or importation of specific goods and to certain services.
Vietnam Expands Scope of Foreign Contractor Tax
In a newly released circular, the Vietnam government has expanded the scope of the Foreign Contractor Tax (FCT). The FCT Circular 103/2014/TT-BTC, issued by the Ministry of Finance, replaces the previous FCT Circular 60/2012 and came into effect on October 1, 2014.
Tax, Accounting, and Audit in Vietnam 2014-2015
Tax, Accounting, and Audit in Vietnam 2014-2015, which is out now and available for download in the Asia Briefing Bookstore, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when operating a business in Vietnam, as well as other tax-relevant obligations.
Choosing the Correct VAT Calculation Method in Vietnam
In this article, we outline the two methods for value-added tax calculation in Vietnam and highlight key points of consideration for each.
Vietnam’s State Social Insurance Fund
The administration of social insurance can be a complicated and confusing process for employers with operations in multiple countries. In this article, we explore social insurance in Vietnam in order to help clarify the key components of compliance in this country.
Proper Procedure for VAT Filing in Vietnam
In this article, we highlight the key components of Vietnam’s VAT system and outline the proper procedure for filing.
New Issue of Vietnam Briefing: A Guide to Understanding Vietnam’s VAT
In this issue of Vietnam Briefing, we attempt to clarify the entire VAT process by taking you through an introduction as to what VAT is, who and what is liable, and how to pay it properly. We first take you through the basics of VAT in Vietnam before taking you deeper into the topic.
Personal Income Tax Withholding in Vietnam
In Vietnam, Personal Income Tax (PIT) declaration and payment is carried out on a withholding basis. Employers are required to collect taxes on employee income for both foreign and local Vietnamese employees, and ensure the timely submission of employees’ tax declarations.
New Issue of Asia Briefing: Payroll Processing Across Asia
In Asia Briefing Magazine’s first issue of 2014, we provide a country-by-country introduction to how payroll and social insurance systems work in China, Hong Kong, Vietnam, India and Singapore. We also compare three distinct models companies use to manage their payroll across various countries with external vendors, and explain the differences among three main models: country-by-country, managed, and integrated models while highlighting some benefits and drawbacks of each.
