New Issue of Vietnam Briefing: A Guide to Understanding Vietnam’s VAT

Posted by Reading Time: 4 minutes

VB_2014_1_issue_cover_250x350HANOI – The newest issue of Vietnam Briefing Magazine, titled A Guide to Understanding Vietnam’s VAT, is out now and will be temporarily available as a complimentary PDF download on the Asia Briefing Bookstore until the end of April.

As Vietnam’s dynamic economy continues to evolve, its tax regime is also continuing to develop to fit the new needs of the country and those doing business within it. While Vietnam is attempting to simplify its value-added tax (VAT) system, properly filing your VAT and ensuring that you are entitled to, and receive, such things as exemptions and refunds, remains a confusing process.

With certain exceptions, all transactions related to goods and services used for production, trading, or consumption are subject to VAT. It is thus very important to determine correctly which VAT calculation method best suits your business and ensure that the tax process is followed carefully.

Professional Service_CB icons_2015RELATED: Dezan Shira & Associates’ International Tax Planning Services

In this issue of Vietnam Briefing, we attempt to clarify the entire VAT process by taking you through an introduction as to what VAT is, who and what is liable, and how to pay it properly. We first take you through the basics of VAT in Vietnam before taking you deeper into the topic. Additionally, we provide updates on the new changes to the VAT process and explain how they will impact your business.

In this Issue

  • What is VAT & Who Does it Affect?
  • How to Make VAT Work for You
  • Proper Procedure For Filing VAT
  • VAT Summary
  • Q&A: How to Improve VAT Recovery and Efficiency for Your Company

A Guide to Understanding Vietnam’s VAT is out now and immediately available as a complimentary PDF download on the Asia Briefing Bookstore for a limited time only.

Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.

For further details or to contact the firm, please email, visit, or download the company brochure.

You can stay up to date with the latest business and investment trends across Asia by subscribing to Asia Briefing’s complimentary update service featuring news, commentary, guides, and multimedia resources.

Related Reading

Payroll Processing Across AsiaIn this edition of Asia Briefing Magazine, we provide a country-by-country introduction to how payroll and social insurance systems work in China, Hong Kong, Vietnam, India and Singapore. We also compare three distinct models companies use to manage their payroll across various countries with external vendors, and explain the differences among three main models: country-by-country, managed, and integrated models while highlighting some benefits and drawbacks of each.

Manufacturing in Vietnam to Sell to ASEAN and China
In this issue of Vietnam Briefing Magazine, we introduce our readers to manufacturing in Vietnam as a key part of their business strategy within the ASEAN region and beyond. Specifically, we explain the new ASEAN Free Trade Area, outline what foreign investors can look forward to when creating their manufacturing presence in the country, and introduce the country’s key tax points.

Re-evaluating Your Vietnam Representative Office
This issue of Vietnam Briefing examines ROs – the processes of working with them, and the rationale for either upgrading or closing them. We explain not just how to close up your RO, but also list out the common reasons for doing so. In addition, we include detailed instructions and timelines on how long it takes to upgrade or close up shop. In conclusion, we also summarize how to set up an RO in the country for businesses looking to get started in the market.

Annual Compliance and Audit
In this issue of Vietnam Briefing, we address a number of annual compliance topics relevant to foreign investors in Vietnam. Namely, annual reporting for foreign-owned enterprises and representative offices, as well as annual tax finalization (corporate income tax and personal income tax), and annual financial statements (structure, general accounting treatments, deductible expenditures, submission).