Vietnam has a very complex tax structure, especially for foreign investors. The most common types of taxes include Corporate Income Tax (CIT), VAT, Special Sales Tax, Double Tax Agreements (DTA), Transfer pricing, etc.

At PLF, we offer tax advisory services to assist investors to manage their taxes with ease by navigating the tax planning at all stages of business growth, identifying any tax risks, and improving their profitability.

How we can help:

  • Advise on tax-efficient business model and tax planning strategies;
  • Regularly update the Clients on the latest regulations and circulars and answer any questions or concerns on the application of current tax laws;
  • Assist the Clients in preparing documents, drafting forms, calculating tax payable and submitting tax compliance reports monthly – quarterly – annually;
  • Advise on tax incentives and tax exemption aiming to reduce your tax liability;
  • Work with the Client to analyze different tax scenarios, manage tax treatment of fixed asset costs and mitigate the relevant tax risks;
  • Work with tax authority on tax status and clarify their request;
  • Advise the Client at different tax dispute resolution stages with tailored solutions.

How to proceed?

  • Direct meetings with our team to clarify the requirements, targets, and concerns of Clients regarding tax issues in Vietnam;
  • On behalf of the Client, PLF will assign the accounting team to work and liaise with tax authorities;
  • Provide action plans and strategies to manage tax, and handle a broad range of domestic and foreign tax matters;
  • Alert the Client on the latest tax incentive policies and clarify any queries related to tax compliance;
  • Provide a CRN account so our Clients can monitor the legal services and procedures;
  • Follow up and instruct the Client to manage their tax structure and ensure the tax compliance after completion of the service.

Most Frequent Questions & Answers

Finding expert guidance in our FAQs section, which address common concerns and provide insights into corporate legal, accounting, and secretarial matters.

Registering a 100% foreign-owned company in Vietnam is possible. However, foreign investment is subject to regulatory limitations applied on each specific business sector.

In most cases, investors shall implement the following steps to establish a company:

Step 1: Obtaining an Investment Registration Certificate, abbreviated IRC (if any non-Vietnamese investors).

Step 2: Obtaining an Enterprise Registration Certificate, abbreviated ERC or BRC for Business Registration Certificate.

The company is established but the following steps are required for regulatory compliance:

Step 3: Post establishment procedures.

Step 4: Obtaining sub-licenses (if any).

IRC stands for Investment Registration Certificate which shall be obtained (in most cases) when a foreign investor wants to set up a project (such as establishing a company) in Vietnam at the beginning.

ERC stands for the Enterprise Registration Certificate which every company in Vietnam must have. In other jurisdiction it is sometimes referred to as the “Incorporation Certificate” or “Company Certificate”.

Joint Stock Company (“JSC“) and Limited Liability Company (“LLC“) are the most common types of company in Vietnam since they offer the following advantages:

  • Limitation in liabilities of their shareholders/ members/ proportionate to their capital contribution;
  • Flexible management structure;
  • Conversion from JSC to LLC and conversely is possible.

In general, there is no minimum capital required by law when registering a company in Vietnam. Only some conditional business sectors such as real estate trading, banking or education have specific capital requirements.

However, the capital shall be sufficient in light of the intended business sectors and scale of operation.

For non-conditional business sectors, we usually need from 6 to 8 weeks to setup a foreign-invested company and 1 week for a Vietnamese-invested one.

However, especially for foreign-owned companies, the time can be extended due to various reasons such as additional requirements from the licensing authorities.

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