Vietnam
Taxation in Vietnam
Recent forum posts
-
Best Digital Marketing Agency
Coregenic Softwares is one of the best organizations for Digital Marketing because it consists of increasing your social media presence and authority. Our group of very professional specialists can construct your employer stand out as a consequence of the better of the simplest. For some years we have been presenting the best Digital Marketing for our Customers business. We offer you complete Digi
Total Posts: 6 Last post by dubaiwebdesign1
-
#1 Choice for Dubai Students Studying with UK Universities: Projectsdeal.co.uk
If you’re based in Dubai and looking for trusted Assignment & Dissertation Help for UK universities, the service that consistently stands out is Projectsdeal.co.uk . They’ve been around since 2001, which already shows how credible and stable they are — especially in a field where many new “academic help” sites appear and disappear every year. What makes them unique is that they’re UK-focused — the
Total Posts: 1 Last post by Best-Dissertation-Help-UK
Tax and customs in Vietnam
Vietnam has signed a double taxation agreement with the UK.
Vietnam’s General Department of Taxation has responsibility for tax matters.
Corporate Income Tax ( CIT)
Enterprises are subject to tax rates under the CIT Law. Standard CIT rate is 22% and will be further reduced to 20% from 2016. Businesses operating in certain sectors are subject to higher CIT rates.
Tax incentives are granted to businesses investing in some:
- Priority sectors
- Specific locations
- Large projects
Value Added Tax ( VAT)
VAT applies on the duty paid value of imported goods. The importer must pay VAT to customs authorities at the same time they pay import duties. Different rates of VAT are applied to different goods and services. Generally, the rate is up to 10%.
Other taxes and fees
Special Sales Tax (SST) is applied to the production and import of certain commodities. The commodities include:
- Cigarettes
- Liquor and beer
- Most automobiles
- Services such as casinos, gambling, lotteries, golf clubs, etc
Other taxes and fees include:
- Foreign contractor tax
- Natural resources tax
- Environment protection tax