Other Briefings
Vietnam vs. China Part II: Corporate Income Tax
This is the second article in a series dedicated to comparing the costs and ease of doing business in Vietnam and China from the standpoint of a foreign investor. By Rosario Di Maggio Jan. 22 – Many foreign investors operating in China today are looking at Vietnam as a sort of additional “province” or alternative […]
New Resolution to Postpone Payment of VAT and CIT
Jan. 18 – The Vietnamese government issued Resolution No. 02/NQ-CP on January 7, 2013, introducing a series of measures aimed at removing difficulties for business production, increasing market support, and resolving bad debt. The tax measures introduced in this Resolution will assist those enterprises and individuals facing economic difficulties by postponing the payment of value-added […]
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 […]
