Vietnam Tax Guide 2014 Preview Tax, Accounting & Audit in Vietnam | Seite 4

An Introduction to Tax and
Accounting in Vietnam
Dealing with tax and accounting can be a confusing process even for the most prepared business
professional. It is therefore recommended that businesses take a careful look at all relevant regulations
and engage a professional where appropriate to ensure proper compliance with all laws.
In Vietnam, most businesses and investors will find themselves subject to some form of tax. Once
registered, all companies, whether or not they are operational or profit centers, must file tax
declarations.
Companies and individuals are subject to a range of taxes in Vietnam - these include corporate
income tax, VAT, and personal income tax. Complicating matters are the range of double taxation
agreements (DTA) to which Vietnam subscribes. Careful application of the tax regulations and the
relevant DTA can greatly improve the taxpayer’s outcome.
All taxes in Vietnam are imposed at the national level, i.e. there are no local, state or provincial
taxes. Enterprises should pay tax in localities where they are headquartered or have duly registered
branches.
Most companies and foreign investors in Vietnam are subject to the following major taxes:
a. Business license tax
b. Corporate income tax
c. Value-added tax
d. Special consumption tax
e. Foreign contractor tax
f. Customs duties
g. Personal income tax
Additionally, there are a number of important tax incentives that can create a further favorable
tax environment to operate in. It should be noted that many of the tax incentives and DTA can be
confusing and it can be difficult to discern whether or not a company qualifies. Therefore it is strongly
suggested that you engage professional advice before moving ahead with any specific tax plan.

4 - Tax, Accounting, and Audit in Vietnam 2014-2015

Hoang Thu Huyen
Country Manager
Dezan Shira & Associates Vietnam