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Tax planning plays a crucial role in the successful entry of a company into the Vietnam market. The country’s tax system is complex and subject to frequent changes and so engaging in tax planning becomes important. This provides key stakeholders with a comprehensive understanding of the local tax laws, regulations, incentives, and reporting requirements, which may affect the entity's entry route and investment strategy. In direct terms, this information can help a company structure its operations and transactions in a manner that minimizes its tax risks and maximizes benefits.

In fact, Vietnam offers various tax incentives to attract foreign investment and promote specific industries or regions. These include tax holidays, reduced tax rates, exemptions, and depreciation and amortization. Taking advantage of these tax measures and benefits can result in substantial tax savings and enhanced profitability.

Vietnam Briefing’s Tax, Accounting, and Audit Guide for 2023, produced in collaboration with the tax experts at Dezan Shira & Associates, provides an overview of taxes for enterprises and individuals in Vietnam, as well as fundamental accounting and audit information in the Vietnamese business context. This edition, updated as of June 2023, includes key sections on transfer pricing and its compliance expectations in Vietnam.

As the tax situation of each enterprise is unique and Vietnam’s regulatory environment is subject to change, it is advisable to seek professional tax advice specific to your business. Dezan Shira & Associates is a specialist foreign direct investment practice providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals investing in emerging Asia.