Tax Services in Vietnam: A Guide for Businesses and Expats
Tax Services in Vietnam: A Guide for Businesses and Expats Navigating the tax landscape in Vietnam can be challenging for both local businesses and foreign investors. With changing tax laws, compliance requirements, and documentation, it’s essential to rely on professional tax services in Vietnam to ensure your financial operations remain smooth and legal. In this blog, we’ll cover the essentials of Vietnam’s tax system, the types of tax services available, and why hiring a local tax consultant is a smart move. 📘 Overview of Vietnam’s Tax System Vietnam has a relatively straightforward tax system governed by the General Department of Taxation (GDT) . However, differences in regulations for domestic and foreign entities can complicate compliance. The main types of taxes applicable include: Corporate Income Tax (CIT): Standard rate is 20% Value-Added Tax (VAT): Commonly 10%, with some goods/services at 5% or exempt Personal Income Tax (PIT): Progressive rates from 5% to...