Taxation

Taxation

The main categories of tax imposed in Vietnam are below. All taxes are imposed at the national level. There are no local, state or provincial taxes.

  • corporate income tax
  • various withholding taxes
  • capital assignment profits tax
  • value added tax
  • import / export duties
  • special sales tax
  • personal income tax applicable to Vietnamese and expatriate employees.

Tax incentives are granted to new investment projects based on regulated encouraged sectors, encouraged locations and the size of the projects.

Accounting and reporting

Enterprises with foreign-owned capital, foreign parties to business co-operation contracts, and foreign contractors having a resident base in Vietnam are required to adopt the Vietnamese Accounting Standards and its guidance.