Penalties for violations against regulations on time limits for notification of changes in tax registration information

Penalties for violations against regulations on tax registration time limits; notification of temporary business suspension; notification of premature business continuation

Value-added tax is a tax imposed on the added value of goods or services arising from production, circulation to consumption.

Corporate Income Tax (CIT) is a direct tax, levied on the taxable income of businesses including income from production and trading of goods, services and other income according to the provisions of law

Corporate income tax (CIT) is a tax levied on the profits of companies and 20% is the CIT rate in Vietnam. This rate in Vietnam is higher than in Singapore (approximately 17%).

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.