Bookkeeping Services

Bookkeeping Services​

What is bookkeeping?

Bookkeeping is the practice of creating and maintaining purchases, sales, expenses, payrolls records, which can be done through both manual and automatic techniques. If a business is not making money, the bookkeepers are the first to know.

Legal services:

  • Issuing the VAT invoices;
  • Perform accounting entries;
  • Bank reconciliation;
  • Arrange accounting vouchers.

How to proceed?

All transactions will be recorded into the accounting software. The database can be extracted for future purposes.

Our team will act as an in-house bookkeepers, keep track with the transactions every day. If there is any unreasonable transactions, you will be noticed from our team.L

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.

There are several personal income tax rates which depend on the kinds of personal income such as:

  • monthly wages with progressive rates ranging from 5% to 35%;
  • income from capital investment with a fixed rate of 5%;
  • income from real estate transfer with rates of 2% or 25% depending on the case.

The following investment sectors benefit from tax incentives:

  • Investment projects in preferential investment industries and trades such as: high-tech activities, production of new materials, new energy, clean energy, pre-school education, general education;
  • Investment projects located in preferential investment geographical areas;
  • Projects with a scale of capital being 6,000 billion Dong or more of which at least 6,000 billion Dong is disbursed within a period of three years from the date of issuance of the IRC;
  • Investment projects located in rural areas and employing 500 employees or more.

There are process export zones with tax reductions such as:

  • Import duty is not applied to the goods imported from abroad to the process export zone and used within such process export zone; and goods transported from one process export zone to another; or
  • Export duty is not applied to the goods exported from the process export zone to outside Vietnam’s territory.
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