Tax Updates

Foreign contractors (or any corporate parties deriving income in Vietnam) are subject to taxes on payments for work done in Vietnam based on the contracts signed between them and a Vietnamese partner(s) in the form of the foreign contractor tax (FCT), value added tax (VAT) and corporate income tax (CIT). CIT-liable income is determined on […]

Vietnam tax treaties on double taxation avoidance In an endeavor to avoid the double taxation of international income and therefore promote foreign direct investment (FDI), Vietnam tax treaties on¬†Double Taxation Avoidance¬†(DTAs) have been concluded with about 65 countries to date, including most major countries. Latest DTA pacts Vietnam concluded are with Estonia, United States, and […]

Overview of Vietnam taxation system With Vietnam taxation system, tax administration is regulated the Law on Tax Administration enacted in 2007, and overseen by the National Department of Taxation, which operates under the Ministry of Finance. Tax affairs are more commonly handled by local provincial (municipality) tax departments and district tax departments. All foreign-invested companies […]