Accounting and Tax issues in Vietnam

Every company is obliged to report the results of its business activities to the Tax Department. Tax reports are submitted only by USB token with a digital signature of the responsible person in Vietnam. It is quite difficult to find a competent accountant to compile your Tax Reports.

All enterprises registered in Vietnam should pay taxes. We described main of them in this article and what rate applies for different kinds of enterprises.

Vietnamese legislation encourages investment by tax benefits and incentives in certain sectors such as education, health, sports and culture, high technology, environmental protection, research, infrastructure development and computer software.

To comply with the terms of accession to the WTO, Vietnam has signed several Free Trade Agreements (FTA) and Customs Tariff Adjustments. In accordance with its obligations, Vietnam has already reduced 6,900 tariff lines (72% of all tariffs), to zero percent in 2014. By 2018, Vietnam is zeroing out some import tariffs in connection with the concluded agreements.