Other Briefings
Navigating Personal Income Tax in Vietnam
Paying Personal Income Tax (PIT) is one of the key financial obligations that employers and employees have in Vietnam. In this article, we attempt to clarify some of the key regulations and tax rates involved with the payment of PIT.
PIT Update: Vietnam Implements 50 Percent Reduction in Personal Income Tax for Individuals Working in Economic Zones
On October 20, 2014, Vietnam implemented a 50 percent reduction in personal income tax (PIT) for individuals who are working in the country’s economic zones. The recent tax change was outlined in the Ministry of Finance’s Circular 128/2014/TT-BTC, replacing Circular 176/2009/TT-BTC.
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.
