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We document.getElementById('cloak8e9f8f153b78a8a5aa0210ee8394e70d').innerHTML = ''; Corporate Tax Rate in Vietnam averaged 26.77 percent from 1997 until 2020, reaching an all time high of 35 percent in 1998 and a record low of 20 percent in 2016. 15/1999/QH10 dated 21 December 1999 (amended by Penal Code No. Please see item 2, article II of Circular 10/2006/TT-BTC for more details. Vietnam Travel Services - Tuan Linh Travel Co., Ltd.         Office : Room 509, 15T2 Building, 18 Tam Trinh Street, Hanoi, Vietnam          Tel: +84.24.62768855   Fax: +84.24.62768866   Contact us. For Vietnamese employers, the employer is generally responsible for withholding, declaring and paying PIT on behalf of its employees. Table of Contents 1 Corporate Income Tax 3 1.1 General Information 3 1.2 Determination of taxable income and deductible expenses 6 1.2.1 Income 6 1.2.2 Expenses 6 1.3 Tax Compliance 8 1.4 Financial Statements/Accounting 10 1.5 Incentives 12 1.6 International Taxation 13 2 Transfer Pricing 17 3 Indirect Tax 19 4 Personal Taxation 22 5 Other Taxes 23 6 Trade & … Companies in Vietnam can use electronic, pre-printed, self-printed, or ordered invoices. 202, Hoang Van Thu Street, Ward 9, Phu Nhuan District, Ho Chi Minh City, Vietnam. The information in our business registry origins from the respective government institutions. For diplomatic missions, consulates and representative offices of foreign organizations in Vietnam (those that are eligible for VAT refund): For organizations authorized to collect taxes, charges, fees and other revenues according to the provision of law; project owners, principal foreign contractors of ODA projects; and non-business units withholding income tax on high-income earners: Tax paying organizations and individuals shall have to make tax registration according to set form with tax offices within 10 days as from: the date of granting of business registration certificates or the date of commencement of business activities which do not require business registration certificates, or the date when tax obligations arise, in cases where taxpayers are non-business organizations or individuals; Tax offices shall have to grant tax codes within 5 days, for tax registration dossiers submitted directly to tax departments; and within 10 days for tax registration dossiers submitted directly to tax sub-departments, after receiving complete dossiers of application (excluding the time for revision or supplementation of information wrongly or inadequately declared by tax-paying organizations or individuals in their dossiers); Tax registration certificates: tax-paying organizations and individuals that have completed the procedure for tax code registration shall be certified by tax offices as having been granted tax code in the form of tax registration certificate; Personal tax code cards: individuals liable to pay income tax on high-income earners who have completed the procedures for tax code registration shall be granted personal tax code card; Tax code notices: taxpayers that are ineligible for being granted tax registration certificates shall be issued by tax offices tax code notices; Change in tax registration information: If there is any change in tax registration information, tax-paying organizations and individuals shall have to make additional notification to their managing tax offices within 10 days as from the date of change in information or before the termination of all activities that give rise to tax obligations; Closure of tax codes: closure of tax codes means the determinations by tax offices that tax codes are no longer valid for use. Penal Code No. The foreign investor or the investee company are required to notify the tax authorities of the plan to remit profits at least 7 working days prior to the scheduled remittance. 37/2009/QH12 dated 19 June 2009). From 2020 onwards, the use of electronic invoices tax verification codes will be extended as a requirement for self-employed individuals and companies with annual turnover of more than VND 3 billion … government tax. For employment income, the 20th of the following month for monthly tax declarations, the 30th of the first month of the following quarter for the quarterly tax declarations and ….the 120th day of the following year for the annual tax return under individual tax code/90th day of the following year for the annual tax return under corporate tax code. Find Vietnam custom tariff code of any product have been always realized strictly obligations to Tricor Vietnam provides a comprehensive range of professional services including market entry advisory, investment licensing / company incorporation, representative office registration, as well as company secretarial, accounting, tax and payroll services. Stipulated in Circular No. Address Vietnamtrades C-7/224-225, 2nd Floor, Sector-7, Rohini, New Delhi, India. var addy8e9f8f153b78a8a5aa0210ee8394e70d = 'Info' + '@'; VAT Grouping in Vietnam There is currently no provision for VAT Grouping in Vietnam. 24 … Under Circular 80, organizations, households and individuals producing, trading, providing goods and services; individuals … For diplomatic missions, consulates and representative offices of foreign organizations in Vietnam … Searching of Company Information on Vietnamese National Business Registration Portal DECISION No.75/1998/QD-TTg OF APRIL 4, 1998 ON THE CODE NUMBERS OF TAX PAYERS CIRCULAR No. This code is also the tax code of the business. Types of business license in Vietnam: Vietnam offers some choices for setting up a business in the country. e VIETNAM YELLOW PAGES - VIETNAM BUSINESS DIRECTORY Head Office: Floor 6, Vinafood 1 Building, 94 Luong Yen St., Bach Dang Ward, Hai Ba Trung Dist, Hanoi, Vietnam Branch: 1st Floor, Blue Berry Building, No. From the beginning days of our business, The current FCT regime dates from 2014. Note: There are different forms for tax registration declaration applied to different applicants. Each company with independent legal status is required to file a separate tax return. What information does the company registry in Vietnam include? The main taxes levied by the Vietnamese authorities are the Corporate Income Tax, the Personal Income Tax and the Value Added Tax. Vietnam Tax year – Vietnam tax year is the fiscal year. .’s main objective is not only profit but Want to setup a company in Vietnam? Lookup HS code list Vietnam 2017 for chapter 1 to 99. For business individuals, groups of business people and business households: Tax registration declaration, enclosed with a list of stores and shops located outside districts, provincial capitals or provinces where the main establishments are located (if any); Business registration certificate (notarized copy). PwC - Vietnam Pocket Tax Book 2019 PwC 11 government tax. 1 Example: The German company A receives 100 billion VND interest from a Vietnamese company. Tax Filing and payment of tax – Tax on employment income is withheld by the employer and remitted to the tax authorities. For business organizations (except dependent units): Tax registration declaration and lists enclosed therewith (if any); Business registration certificate (notarized copy) or the license for foreign investment in Vietnam (copy); Establishment decision (copy), if any. There is a facility for the use of the ‘reverse charge’. Vietnam’s tax year runs from 01 January to 31 December, while its tax system operates using a graduated scale. Using the tax code, name, address of the company or identification number of the company’s legal representative, one may find further available information about the bank account, independent unit(s), applicable taxes and business lines of the company. 75/1998/QD-TTg OF APRIL 4, 1998, PROVIDING FOR TAXPAYERS’ IDENTIFICATION NUMBERS. ’s main objective is not only profit but addy8e9f8f153b78a8a5aa0210ee8394e70d = addy8e9f8f153b78a8a5aa0210ee8394e70d + 'gbs' + '.' + 'com' + '.' + 'vn'; Foreign companies operating in Vietnam may find it challenging to deal with the complexities of the country’s tax system. 9-11, D52 Street, Ward 12, Tan Binh Dist., Ho Chi Minh City, Vietnam Yellow Pages Hotline: (+84) 914 261 828 (Zalo/ What'sapp/ Skype/ Line) Tel: +84. var prefix = 'ma' + 'il' + 'to'; Two 2cm x 3cm-sized photos of the tax registrant (one to be stuck on the tax registration declaration and the other to be stuck on the tax code card). The subject is a Limited liability company (FDI), with registered capital of 91,520,000,000VND. You need JavaScript enabled to view it. This page provides - Vietnam Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. The tax liable income in Vietnam is 100 billion VND. The following table is a list of postal codes in Vietnam (5 digits). GBS is one of the best business law firms in Vietnam with a network South East Asia, Middle East, Japan, HongKong, Malta and Poland. For foreign contractors and sub-contractors that directly pay taxes in Vietnam: Tax registration declaration, enclosed with a list of sub-contractors (if any); License for business operation in Vietnam. Social security contributions in Vietnam – Vietnamese employees are required to make SI, HI and UI contributions at rates of 5%, 1.5% and 1% of the employee's salary, respectively. contributing a small part for the development and If someone leaves Vietnam during the … By Bich Lien Aug. 21 – On May 22th, the Ministry of Finance granted Circular No.80/2012/TT-BTC regulating tax code registration under the Law on Tax Administration and replacing Circular No.85/2007/TT-BTC dated July 18, 2007. The primary concerns for a foreign company that needs to comply with tax laws in Vietnam are: Individual income tax (IIT) for employees in Vietnam, social security costs, VAT, withholding tax, business tax and permanent establishment concerns. we are willing to share the benefit with community, Generally, tax applicable to a company in Vietnam shall be: VAT (0-10%), Business License Tax (50-150USD/year); Corporate Income Tax: 20% of taxable profit. This email address is being protected from spambots. Tax codes shall be closed when business organizations dissolve, go bankrupt or cease to exist, business individuals flee, die, are missing or have their civil act capacity restricted or lost, or tax obligations terminate; for foreign contractors or sub-contractors that pay taxes through Vietnamese parties, upon the termination of contracts, Vietnamese parties shall have to carry out procedures for closing tax codes of such foreign contractors or sub-contractors. Foreign employers do not have a withholding obligation in Vietnam and PIT is commonly filed under the employee’s name and tax code. we are willing to share the benefit with community, For foreign contractors, sub-contractors and foreign parties to business cooperation contracts that pay taxes through Vietnamese parties: Contract signed with the Vietnamese party (the Vietnamese extract). • Vietnam lunar calendar, holiday, working days • Information about us • Payment services in Vietnam • Business License • Reliable Vietnam tour operator • Tax Code • Member of VCCI • Member of HNAT • Tourism training course • EXPRO 83 - Tourism training • Oct. 2 – Business license tax (BLT) is an indirect tax imposed on entities that conduct business activities in Vietnam and are paid by the enterprises themselves on an annual basis. This page Tax-paying organizations and individuals must not use the closed tax codes notified by tax offices. The Corporate Tax Rate in Vietnam stands at 20 percent. You need JavaScript enabled to view it. The latest individual income tax calculation guidence in 2016 To calculate the individual income tax for 2016, accountant needs to concern about the following guiding Circulars upon individual income tax: Circular 111/2013/ TT-BTC that was modified and supplemented in … Vietnam has a specific foreign contractor tax (FCT). 100/2015/QH13 dated 27 November 2015 (New Penal Code). Closure of tax codes is followed by invalidation of tax registration certificates. This will tell you about the specific tax laws and rates for a LLC - (Wholly Foreign Owned) which is the most common company type in Vietnam. Dossiers to be submitted by Vietnamese parties signing contracts with foreign contractors or business cooperation contracts and having the responsibility to pay taxes for foreign contractors and sub-contractors: Tax registration declaration, enclosed with a list of foreign contractors and sub-contractors for whom the Vietnamese party pays taxes; Contract signed with the foreign contractor (the Vietnamese extract). Vietnam Value Added Tax is calculated based on the added value from each stage of the supply chain, from manufacturing to distribution and consumption. Tax registration declaration, and lists enclosed therewith (if any); Business registration certificate of the branch (notarized copy) or the license for foreign investment in Vietnam (copy). Taxpayers are categorised as ‘residents’ - who pay tax on income from Vietnam and overseas, and ‘nonresidents’ - who pay tax only on income originating from Vietnam. Tax Compliance in Vietnam. In terms of corporate tax reporting and compliance, your company should submit tax statements on a monthly, quarterly and annual basis, regardless of whether you conduct any business activities and have any tax liabilities or not. 10/2006/TT-BTC OF FEBRUARY 14, 2006, GUIDING THE IMPLEMENTATION OF THE PRIME MINISTER’S DECISION No. provides information about Tax Code. Area Postal code An Giang Province: 90000 Bắc Giang Province: 26000 Bắc Kạn Province ... Post Office & Postal Code Location Service This page was last edited on 10 May 2020, at 00:20 (UTC). var path = 'hr' + 'ef' + '='; prosperity of our country. Tax invoices must be issued, but electronic invoices are not yet acceptable. Tax offices shall make public the lists of closed tax codes. Fees are unspecified. Duration is unlimited. Enterprises, units and organizations engaged in production, business or service provision: Tax departments of provinces and centrally-run cities; Business individuals and households: Tax sub-departments of districts, provincial capitals or cities. Company who import/export goods from/to oversea shall be subject to Import/Export Duty. Each company will receive a company registration code that simultaneously acts as a tax code number as well. Expatriates are only subject to the HI. A map of the Vietnamese provinces. contributing a small part for the development and 10/2006/TT-BTC of February 14, 2006. #2 VAT invoices. Businesses established prior to July 1, 2015 have separate tax identification number and business identification number. To regulate the obligation of enterprises and individuals in paying tax, All enterprises and individuals earning income, Validity of the License and application fee. prosperity of our country. Every company in Vietnam, both local and international, is required to comply with all applicable regulations.. var addy_text8e9f8f153b78a8a5aa0210ee8394e70d = 'Info' + '@' + 'gbs' + '.' + 'com' + '.' + 'vn';document.getElementById('cloak8e9f8f153b78a8a5aa0210ee8394e70d').innerHTML += ''+addy_text8e9f8f153b78a8a5aa0210ee8394e70d+'<\/a>'; Restrictions on Foreign Direct Investment in Vietnam. Call : +91-11-47048012 / 13 Email id : info@exportgenius.in Postal codes help confirm the location when transferring mail, postal items or used to fill in information when users register online with a request to enter a postal code or postal code. Deloitte Vietnam Company Limited Striving for the standard of excellence by being always one step ahead, Deloitte Vietnam is dedicated to providing superior client service with professional objectivity and to working diligently to preserve the trust of clients. A company must notify the tax authorities if its fiscal year differs from the calendar year and only a quarter end is allowed. 2. have been always realized strictly obligations to Vietnam E-Invoice with a Tax Code. The rules describe the tax obligations of foreign entities and individuals who do business in or receive income from Vietnam. This email address is being protected from spambots. Therefore, you can be sure that the data you receive is valid, given that the company has provided accurate information to the government. Note that in 2015, Vietnam’s National Assembly passed the New Penal Code, which was to meant to take effect from 01 July 2016 and replace Penal Code No. From the beginning days of our business. Consolidated tax returns – Consolidated tax returns are not permitted. Tax refunds due to excess payments are available to those who have a tax code. Vietnam Postal code, Zip Code, or Zip Postal Code, Zip code, Postal Code, … are code systems specified by postal associations around the globe. For individuals paying income tax as high-income earners: People’s identity card or passport for foreigners (copy). FCT legislation has been developed and amended from time to time since it was issued in 1995. BRENNTAG VIETNAM COMPANY LIMITED is established on 11/10/2010, with head office located at No. Pre-printed invoices are for companies applying direct deduction method and sold by the Municipal Taxation Department. Two 2cm x 3cm-sized photos of the tax registrant (one to be stuck on the tax registration declaration and the other to be stuck on the tax code card). Vietnam resident entities are liable to corporate tax on their worldwide income. 2 Example pursuant to Circular 78/2014/TT-BTC: In 2013, enterprise A uses the calendar year as CIT period. Invoices are controlled by the Ministry of Finance. Copyright © 2021 GBS Co., Ltd. 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