Vietnam Briefing News

Foreign Contractor Tax in Vietnam: A Complete Guide for 2023

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Vietnam’s foreign contractor withholding tax may affect your business if you’re working with a Vietnamese company or sub-contractor. Here’s how.

How to Avoid Double Taxation in Vietnam

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Vietnam Briefing gives an overview of how businesses and individuals can reduce their tax exposure in Vietnam through the use of double taxation avoidance agreements.

Vietnam’s Foreign Contractor Tax – 3 Ways to Calculate FCT

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Foreign investors doing business in Vietnam should be aware of the Foreign Contractor Tax and the three options to calculate FCT based on the investment and size of the project.

Vietnam Lowers CIT Rates

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Jun. 27 – Vietnamese lawmakers amended Vietnam’s corporate income tax (CIT) rate last week by reducing it to 22 percent across all industries starting January 1, 2014.  It will then further be reduced to 20 percent on January 1, 2016. Previously it was proposed that the CIT rate would only be reduced to 23 percent. “A wide […]

Vietnam Issues New VAT Regulations

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The Ministry of Finance has issued Circular 65 which will amend certain articles of Circular 06 relating to value-added tax (VAT). It will seek to provide greater insight and guidance to various areas related to VAT that were once unclear, including updating key VAT rates.

Trade Update: Vietnam Revises Import Duties

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The Vietnamese Ministry of Finance has issued a new circular which amends its preferential import duties on various commodities. Currently scheduled to be implemented from May 19, 2013.

Tax Update: Vietnam Gov’t Approves Amendments to CIT Law

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In an effort to boost investment in Vietnamese businesses and to support struggling enterprises, Vietnamese lawmakers have approved the Government’s proposal to reduce the current general corporate income tax (CIT) rate from 25 percent to 23 percent.

Update: Personal Income Tax Finalization for Foreigners in Vietnam

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Feb. 7 – On January 15, the Vietnam General Department of Taxation issued Official Letter 187/TCT-TNCN (OL187) to provide guidance on the finalization of personal income taxes (PIT). Some of the key updates can be found below. 183 Day Rule Foreigners who work in Vietnam do not have to pay PIT if they spend fewer […]

Vietnam Reduces Corporate Income Tax to 23 Percent

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Jan. 29 – The Vietnamese Ministry of Finance finished drafting its Corporate Income Tax Law last week in a plan to cut current rates from 25 percent down to 23 percent. Corporate income tax (CIT) rates have been adjusted several times over the past nine years: the 2003 CIT law of 2004 decreased rates from […]

New Resolution to Postpone Payment of VAT and CIT

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Jan. 18 – The Vietnamese government issued Resolution No. 02/NQ-CP on January 7, 2013, introducing a series of measures aimed at removing difficulties for business production, increasing market support, and resolving bad debt. The tax measures introduced in this Resolution will assist those enterprises and individuals facing economic difficulties by postponing the payment of value-added […]

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