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Corporate income tax laws and compliance in Vietnam are often complex and time-consuming, and the regulations change quite frequently due to the fact that Vietnam is still developing its economy. Several lodgments may be required on an annual or quarterly basis based on your company’s industry, size and invoicing amount. Read More About Cekindo’s Corporate … Continued
Constant changes and ever-increasing complexity to the taxation system as well as technology adoption in Vietnam results in challenges for modern accounting and tax compliance when doing business in Vietnam. Although these processes are slowly improving and becoming easier to navigate, it still requires specific local knowledge of taxes and an updated knowledge base on … Continued
Regardless of where you live and work, you must file for taxes everywhere in the world including Vietnam. Vietnam is a very popular destination for expatriates from all over the world with diverse nationalities. As such, most foreigners in Vietnam are obliged to pay taxes as well. Find out how Cekindo’s Corporate Tax & Compliance … Continued
Vietnam has seen a remarkable rise in the number of new businesses registered in recent years. Especially, in July 2023, the entire country witnessed the establishment of 13.7 thousand new businesses with a registered capital of nearly VND 126.9 trillion. Compared to the same period last year, this represents an increase of 4.3% in the … Continued
As Vietnam presents a more and more open economy in order to attract foreign investment, the government has created some interesting tax incentives. These include paying no taxes for a certain period of the initial establishment in the country, involving tech-based industries, and investing in underdeveloped geographical areas of the country. Understanding and applying for … Continued
The personal tax system for foreigners living in Vietnam involves special tax rates, calculations, and procedures. These calculations and procedures can be much more difficult for you to comprehend if you do not have specialized knowledge. It means that this kind of tax system for expatriates requires expert guidance to navigate. This guide clarifies the … Continued
A compliance consultant in Vietnam ensures that a business adheres to governmental regulations and standards. These consultants can work in various industries, such as banking, insurance, health, or oil, but typically have specialized knowledge in a specific area. They are usually tasked with identifying compliance concerns, implementing measures to mitigate risk, training employees, and handling … Continued
Vietnamese tax law’s provisions are subject to yearly amendments. Therefore, tax infringements may occur if you are unaware of the changes. Operating a successful business in Vietnam requires maintaining a seamless operation while avoiding government audits, inspections, and fines. This is heavily dependent on having competent tax professionals who are up to date with the … Continued
A well-known fact for doing business anywhere in the world is that fulfilling tax obligations is absolutely mandatory, and is one of the most important elements to keep track of. Errors in tax filing and submitting can have severe financial and legal consequences. Vietnam, in particular, has a considerably complex tax structure, which might be … Continued
FDI reports in Vietnam are different than quarterly tax reports, annual financial statements, or annual audits. Fines for not being in compliance can be quite high.
The standard Vietnam VAT rate is 10%, however, as a result of the economic hardships brought on by the pandemic and subsequent lockdowns, on January 11, 2022,The National Assembly approved a Resolution on fiscal and monetary policies to support the Socio-Economic Development and Recovery Program, which will be in force until December 31, 2023. In … Continued
Decree 125/2020/ND-CP dated 19/10/2020 is a relatively newly issued Vietnam Tax Law, which has been effective since December 5, 2020. The new law states several penalties and the resulting fines for the violation of certain tax and invoice regulations. Find Out How Cekindo can Help with Corporate Tax & Compliance Outsourcing Services Thus, ensuring tax … Continued
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