Tax in Vietnam is a complicated problem and is one of company’s big concerns in business operation. According to Vietnam Law on Tax Administration, tax registration and tax declaration are two of core obligations.
For tax registration, Law on Tax Administration determines that tax registrants include: business organizations, households and individuals; individuals who have incomes liable to personal income tax; organizations and individuals responsible for withholding and paying taxes on taxpayers’ behalf and other organizations and individuals defined by tax law.
Time limit for tax registration in tax agencies is within ten working days after one of cases as the following:
– The registrants are granted business registration certificates or establishment and operation licenses or investment certificates;
– The registrants commence their business operation, for organizations not subject to business registration, or households and individuals subject to business registration but having not been granted business registration certificates;
– The responsibility for withholding and paying taxes on taxpayers’ behalf arises;
– The personal income tax liability arises;
– A claim for tax refund is made.
The result of tax registration is tax registration certificates. The content of this certificate determines tax identification number and related information.
For tax declaration, Law on Tax Administration requires that first, taxpayers shall accurately, honestly and fully fill in their tax returns set by the Ministry of Finance, and submit all required vouchers and documents in tax declaration dossiers to tax administration agencies and second, taxpayers shall calculate by themselves payable tax amounts, except when the tax calculation is conducted by tax administration agencies according to the Government’s regulations. Depending on type of tax declared and paid on a monthly basis or annual basis or for each time of arisen of tax liability, tax declaration dossier comprises files different. Deadlines for submission of tax declaration dossier are also different which depends on type of taxes.
With above – mentioned basic tax information, it can be said that tax consultancy service shall be one of the important legal services, especially when the practice shows that both law on tax and relating tax regulations of Vietnam are not consistent and stable leading to difficulties for enterprises to update and flexibly apply tax policies. For this reason, we have developed a team of experienced tax consultants capable of answering and making comprehensive and overall solutions for all taxes in Vietnam. Our team is of highly qualified with CPAs and relevant certifications, led by an experienced veteran Tax Manager from tax consulting firm.
We assist with providing Tax advice and related tax services in Vietnam to clients in various industries including financial services, trading, distribution and IT sectors on Corporate Income Tax, Personal Income Tax, Value Added Tax, Withholding Tax and update on relevant tax regulations.
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