What Corporate Income Tax breaks are available to foreign investors in Vietnam?

Written By PLF Law Firm “Vietnamese investment law and policy encourages region-specific investment in furtherance of long-term national stability. The Law on Investment creates incentives by establishing the concept of the ‘economic zone’, a separated territory with special favorable investment and business environment for the investors“ Economic zones are organized into functional areas, including: non-tariff

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What constitutes criminal tax evasion in Vietnam?

Written By PLF Law Firm “Tax obligations often significantly burden businesses operating in Vietnam. To maximize profit, companies will often seek out ways to avoid mandatory tax payments. Vietnamese law enforcement is beginning to vigorously monitor and prosecute acts of tax evasion or tax fraud.“ Acts of Tax Evasion or Tax Fraud The following acts

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Value Added Tax in Vietnam

Written By PLF Law Firm “What is the Value Added Tax (VAT)? The Government of Vietnam applies a Value Added Tax (VAT) on the consumption of goods and services in Vietnam. The law on VAT was recently amended, with significant consequences for foreign investment and business interests in Vietnam.“ Which businesses are exempt from the

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Taxes in Processing Activity in Vietnam

Written By PLF Law Firm “Tax regulations are one of the many issues foreign investors concern about when investing or outsourcing in Viet Nam. Therefore, it can be said that tax policies greatly affect the decision of investors.“ In the scope of this article, PLF will only cover tax policies in outsourcing activity of foreign

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Vietnamese tax incentives on corporate income tax in software sector

Written By PLF Law Firm “To encourage and facilitate the development of software industry, Vietnam Government has special incentives on corporate income tax (CIT) for enterprises operating in this industry such as: preferential tax rates, CIT exemption and reduction period,…“ 1/ As prescribed by laws, enterprises implementing new investment projects in the field of software production are eligible for

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VAT calculation methods for newly established enterprises in Vietnam

Written By PLF Law Firm “Newly established enterprises and branches should give heed to matters concerning value added tax (VAT) calculation method, when to apply deduction method, and registration for voluntary application of tax deduction method, etc.“ Methods of tax deduction are stipulated in detail in Circular No. 219/2013/TT-BTC (hereinafter referred to as “Circular 219”)

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2014 Personal Income Tax Finalization for foreign nationals in Vietnam

Due to the complex nature of finalizing foreign nationals’ personal income tax, enterprises and employees are suggested to develop a specific sequence for tax finalization in order to avoid mistakes in practice. It is recommended for organizations and individuals to take the following factors into account when completing the 2014 Personal Income Tax (PIT) Finalization

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3 types of tax incentives for investment projects which come into effect August 1st 2016

Written By PLF Law Firm “The Ministry of Finance has issued Circular 83/2016/TT-BTC dated June 17th 2016, which regulates in detail 3 types of tax incentives for the investment projects in Vietnam involving the corporate income tax, import duty and non-agricultural land use tax.“ Preferential corporate income taxCircular 83 governs in detail several cases subject to incentives as follows: New

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