Vietnam’s tax incentives, while attractive on paper, can present challenges to investors unfamiliar with the country’s legal system. Investors need to be aware of the incentives that Vietnam offers and the requirements that they will face when they apply for these incentives.
Vietnam is introducing a new inspection regime for foreign-invested enterprises (FIEs). The decision aims to reduce malpractices by existing FDI firms. Read more to know the different government agencies involved and the inspection scope.
Vietnam will replace paper bills with electronic invoices from the start of 2018. Although the transition will be initially challenging, e-invoices will reduce the burden on enterprises and increase efficiency. Read more to understand the implementation timeline, benefits of e-invoices, and challenges facing the government and businesses.
Vietnam proposes to increase Value Added Tax, Special Consumption Tax, Corporate Income Tax, Personal Income Tax, and Natural Resources Protection Tax to increase tax contributions and reduce public debts. Read more to understand as to why the government is pushing for an increase, reactions of the business community, and the new proposed rates.
Tax officials in Vietnam are set to tax online retailers selling through social network platforms. Read more to understand how the tax will impact online sellers on social networking platforms, tax obligations, and challenges faced by the authorities.
This concise, detailed, yet pragmatic guide is ideal for CFOs, compliance officers and heads of accounting who need to be able to navigate the complex tax and accounting landscape in Vietnam in order to effectively manage and strategically plan their Vietnam operations.
Firms engaged in technology transfer and innovations in Vietnam are expected to receive tax incentives. Read more to understand the benefits and how it affects foreign and local firms.
Vietnamese tax authorities to inspect foreign-owned retailers for tax avoidance through transfer pricing or profit shifting. Read more to understand the government’s actions and its impact on the retail market.
As per a new draft law on tax support, profitable SMEs are set to receive between 1 and 3 percent reductions from their current level of tax liability. Read more to understand how the tax will be applied and its projected impact on the Vietnamese economic landscape.
Prior to transferring profits back to their home markets, foreign companies in Vietnam must fulfill annual compliance requirements. Read more for a detailed look at the compliance process, deadlines for filing, and penalties levied for non-compliance and tax evasion.