Other Briefings
Vietnam and Singapore Sign Second Protocol to Amend DTA
Jan. 16 – On September 12, 2012, Singaporean Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam and Vietnamese Minister of Finance Vuong Dinh Hue signed a second Protocol to amend the existing double taxation agreement (DTA) between the two countries. The DTA entered into force on January 11, 2013 in Singapore, and will be […]
Annual Tax Finalization in Vietnam
Jan. 11 – At the end of the year, in addition to completing corporate income tax (CIT) finalization, enterprises must complete personal income tax (PIT) on behalf of their employees. Following the finalization process at the end of the fiscal year, or when terminating the investment project in Vietnam, foreign investors are allowed to remit […]
New Issue of Vietnam Briefing: Annual Compliance and Audit
In this issue of Vietnam Briefing, we address a number of annual compliance topics relevant to foreign investors in Vietnam. Namely, annual reporting for foreign-owned enterprises and representative offices, as well as annual tax finalization (corporate income tax and personal income tax), and annual financial statements (structure, general accounting treatments, deductible expenditures, submission).
Vietnam Set to Lower Corporate Income Tax
Vietnam’s Ministry of Finance has announced it will be making changes to the Law on Corporate Income Tax, to be revised by the National Assembly in 2013.
Vietnam Changes the Law Governing Personal Income Tax
On November 22, 2012, the Vietnamese National Assembly promulgated Law No. 26/2012/QH13, amending and supplementing a number of articles within the Law on Personal Income Tax – including increasing personal income tax thresholds.
Vietnam’s Key Compliance Requirements
Nov. 29 – There are a number of legally-mandated requirements with which FIEs in Vietnam must comply, failure of which will jeopardize the ability of the FIE to continue operating in Vietnam. These procedures and requirements may be different from what the FIEs are accustomed to in their home countries. Investors should therefore be sure […]
Da Nang Offers Massive Tax Incentives for Dutch Businesses
Da Nang City is calling for foreign investment in its hi-tech park by promising attractive incentives.
Corporate Income Tax in Vietnam
Oct. 31 – Vietnam’s Corporate Income Tax (CIT) Law was approved by the National Assembly in 2008 and came into effect in 2009. CIT is a direct tax levied on the profits (gross revenue minus expenses) earned by companies or organizations. The standard CIT rate is 25 percent for both domestic and foreign-invested enterprises in […]
Vietnam Promulgates Fiscal Stimulus Measures
On August 21, 2012, Vietnam’s Ministry of Finance promulgated Circular 140/2012/TT-BTC, clarifying the country’s 2012 fiscal stimulus measures which aim to resolve some of the present tax difficulties facing organizations and individuals.
Asia Briefing Report: An Introduction to Doing Business in Vietnam
Asia Briefing, in cooperation with its parent firm Dezan Shira & Associates, has just released a new 32-page report introducing everything that a foreign investor should be familiar with when establishing and operating a business in Vietnam. This guide, titled “An Introduction to Doing Business in Vietnam,” is immediately available as a complimentary PDF download on the Asia Briefing Bookstore.
