Tax, Accounting, and Audit in Vietnam 2020

Published: June 2020

This edition of Tax, Accounting, and Audit Guide for 2020, produced in collaboration with our tax experts at Dezan Shira & Associates, aims to provide an overview of taxes for businesses and individuals in Vietnam, as well as fundamental accounting and audit information in the Vietnamese business context. This guide was first created in mid-2014 based on the information available at the time and has been updated as of June 2020. We hope this guide will help you effectively manage and strategically plan your Vietnam operations

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  • No. of Pages: 74 pages

A strong understanding of tax liabilities enables foreign investors to maximize the tax efficiency of their investments while ensuring full compliance with all tax laws and regulations.

Vietnam Briefing’s Tax, Accounting, and Audit Guide for 2020, produced in collaboration with our tax experts at Dezan Shira & Associates, aims to provide an overview of taxes for businesses and individuals in Vietnam, as well as fundamental accounting and audit information in the Vietnamese business context.

 

This guide was first created in mid-2014 based on the information available at the time and has been updated as of June 2020. 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.

Asia Briefing Ltd., the international publishing house that owns and produces the Vietnam Briefing portfolio of titles, is a wholly-owned subsidiary of Dezan Shira & Associates.

Preface 04

Part 1 | An Overview of Vietnam Taxation 07

Legislative organs 08

Tax administration and contact information 10

Part 2 | Tax Updates to Address COVID-19 12

Part 3 | Vietnam’s Business Taxes 16

Corporate income tax 17

Value-added tax 25

Business license tax 33

Foreign contractor tax 34

Part 4 | Other Taxes 37

Special consumption tax 38

Natural resources tax 41

Environment protection tax 45

Customs duties 46

Part 5 | Personal Income Tax 48

Part 6 | Accounting, Audit and Compliance 54

Part 7 | International Taxation 58

Transfer pricing 59

Foreign exchange control in Vietnam 61


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