Taxation in Vietnam
In general, foreign invested companies (FICs) and individuals doing business in Vietnam will find themselves subject to some taxes like the Vietnamese companies and locals, including enterprise income tax (EIT), VAT, personal income tax (PIT), special consumption tax, etc.
It should be however be noted that these taxes are not imposed the same to all FICs and foreigners. The method of collection, the tax liabilities may vary considerably depending on the form of business. FICs, branches are subject to EIT, VAT and some taxes relating to their business in Viet Nam, such as import or export taxes. However, EIT will not be subject to representative offices because these must not do any business in Vietnam, the object of Ros are to advertise these mother companies and seek the Vietnam market. Regarding to foreign individuals doing business in Viet nam, the PIT will be imposed on their income. Depending on the source and level of income, the tax rates may be different from case to case, between 5% and 35% per the income.
All companies must file tax declarations in monthly, quarterly and yearly even that they are not operational or profits. All taxes in Vietnam are imposed at the national level, there are no local or provincial taxes. The FICs should pay tax in localities where they are headquartered or have duly registered branches.
Currently, the question which is asked with the wide range of number is the tax incentives in Vietnam. If the FICs and foreigners have understood their rights and tax regulations, the tax incentives will bring greatly their income. It is therefore suggested that the FICs and foreigners should take the advice from lawyers before doing business in Vietnam.
“DB Legal is a professional legal consultant based in Da Nang, Viet Nam. We bring enormous experience to set up a company and support general business needs for both local and foreign parties in Central Viet Nam, mainly areas in Da Nang, Hoi An, Nha Trang, Hue, Quy Nhon ,etc..
For more information: Our Vietnamese social page or English social page
Call Us:
Local Office Numbers: | |
Hotline: | +84 898 15 38 39 |
Email: | contact@dblegal.vn |
Related posts:
- Marriage Registration in Vietnam 2022
- Vietnam Has Recognized The Vaccine’s Passport For 16 Coutries
- List of Hospitals in Da Nang issuing the Health Check for Work Permit
- Visa Types - How to live legally in Vietnam
- Danang – The important economic center of Midland and Highland in Vietnam
- COMPULSORY INSURANCES IN VIET NAM 2020
- Setting up Business In Da Nang, Viet Nam
- List of Bordergates Allowing Foreigners Using E-Visa in Vietnam
- List Of Countries Of Which Citizens Are Eligible For Pilot Issuance Of E-Visa in Viet Nam
- COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS-PACIFIC PARTNERSHIP PREAMBLE