Tax & Accounting

Changes to Vietnam’s Customs and Tax Procedures in 2015-16

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What do Vietnam’s tax and customs procedures mean for you? Vietnam Briefing report the latest developments and expected changes in 2015-16 to streamline your business activities in Vietnam.

Vietnam on Track to Reduce the Time Businesses Will Spend Paying Taxes

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The Department Deputy Head, Hoang Thi Lan Anh, of Vietnam’s General Department of Taxation Reform has confirmed the government’s commitment to reduce the time spent paying taxes and social insurance in Vietnam to the ASEAN average of 171 hours by the end of 2015.

Samsung Requests Tax Exemption for its Samsung CE Complex in Vietnam

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In a sign of the company’s increasing influence in Vietnam, Samsung has submitted a proposal to Prime Minister Nguyen Tan Dung requesting preferential tax treatment for its new Samsung CE Complex, a manufacturing facility located in Ho Chi Minh City’s Saigon Hi-Tech Park.

Navigating Personal Income Tax in Vietnam

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Paying Personal Income Tax (PIT) is one of the key financial obligations that employers and employees have in Vietnam. In this article, we attempt to clarify some of the key regulations and tax rates involved with the payment of PIT.

PIT Update: Vietnam Implements 50 Percent Reduction in Personal Income Tax for Individuals Working in Economic Zones

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On October 20, 2014, Vietnam implemented a 50 percent reduction in personal income tax (PIT) for individuals who are working in the country’s economic zones. The recent tax change was outlined in the Ministry of Finance’s Circular 128/2014/TT-BTC, replacing Circular 176/2009/TT-BTC.

Vietnam Amends CIT and VAT Through Decree 91

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Vietnam has issued amendments to certain provisions related to the country’s corporate income tax (CIT) and value-added tax (VAT). The changes have been laid out in Decree 91/2014/ND-CP and will become effective on October 15, 2014.

Vietnam to Raise Special Consumption Tax on Cigarettes, Beer, and Spirits

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Vietnam’s National Assembly Standing Committee (NASC) has announced that the special consumption tax (SCT) on cigarettes, beer, and spirits (a “sin tax”) will be raised on January 1, 2016. SCT is a form of excise tax that applies to the production or importation of specific goods and to certain services.

Vietnam Expands Scope of Foreign Contractor Tax

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In a newly released circular, the Vietnam government has expanded the scope of the Foreign Contractor Tax (FCT). The FCT Circular 103/2014/TT-BTC, issued by the Ministry of Finance, replaces the previous FCT Circular 60/2012 and came into effect on October 1, 2014.

Tax, Accounting, and Audit in Vietnam 2014-2015

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Tax, Accounting, and Audit in Vietnam 2014-2015, which is out now and available for download in the Asia Briefing Bookstore, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when operating a business in Vietnam, as well as other tax-relevant obligations.

Choosing the Correct VAT Calculation Method in Vietnam

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In this article, we outline the two methods for value-added tax calculation in Vietnam and highlight key points of consideration for each.

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