What is accounting?
Accounting is the process of analyzing financial data. Without accounting, it would be impossible for a business to grow. Accounting involves sorting, retrieving, summarizing and presenting data through external reports and analysis to business owners, shareholders and even the public.
How to proceed?
We will collect all needed databases, using the Vietnamese Accounting System (VAS) and the newest regulation from the Government Financial Department to prepare the Financial Statements.
Personal Income Tax (“PIT”) is the tax which applies to the residents earning taxable income within and outside Vietnam’s territory and to non-residents who earn taxable income within Vietnam’s territory.
Tax regulations provide for many kinds of tax-exempt income, for example:
Reductions: Taxpayers who face difficulties caused by natural disasters, fire, accidents or severe diseases which affect their tax paying ability may be considered for tax reduction corresponding to the extent of damage they suffer from but not exceeding payable tax amounts.
There are several personal income tax rates which depend on the kinds of personal income such as:
The following investment sectors benefit from tax incentives:
There are process export zones with tax reductions such as:
VAT stands for “Value-Added Tax” and is imposed on the added value of goods or services arising in the process of production, circulation and consumption.
The general VAT rate is 10%. Other rates such as 0% or 5% can be applied depending on each specific product or service.