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.
