H.S International Investment and Consulting Company

Company

registration

in Vietnam

H.S  | Welcome to us !

H.S International Investment and Consulting Company

Long terms

visa service

for investors

H.S  | Welcome to us !

H.S International Investment and Consulting Company

Tax and

Accounting

Service

H.S  | Welcome to us !

Tax and Accounting Service

Besides the concern of finding a great place to create your company, the Taxation in Vietnam is always the biggest concern when you choose Vietnam to open your business. With the information below, we hope it will give you a summary on how it works in Vietnam:

1. Corporate Income Tax

The standard Corporate Income Tax (CIT) rate applicable to enterprises in Vietnam is 20% on assessable income. Tax rates for the oil and gas, and other extractive industries, can vary from 32% - 50%.

CIT Payable = [Assessable Income - Deduction for establishing a Science and Technology Fund] x CIT Rate Assessable Income = Total Revenue - Deductible Expenses + Other Income - Carried Forward Losses - Tax-Exempted Income.

To be deductible, expenses must:

  • Relate to the generation of revenue
  • Be incurred in relation to business activities as permitted with the company’s business license
  • Be supported by appropriate invoices or relevant documents
  • Where expenses are VND20 million and above, be settled by non-cash payment (i.e., bank transfer)

2. Value Added Tax

Goods and services (including goods and services purchased from foreign sources) used for the purposes of production, trading and consumption in Vietnam are subject to Value Added Tax (VAT).

3. Foreign Contractor Withholding Taxes

Foreign business organizations, with or without a Permanent Establishment (PE) in Vietnam, that:

are subject to CIT and VAT applied on payments. Combined, these tax obligations on payments are referred to as Foreign Contractor Withholding Tax (FCWT). Note that payments to foreign individuals may be subject to Personal Income Tax under the FCWT provisions.

Although technically not a separate tax, FCWT is a term used to describe the combined taxation applied to payments to foreign contractors and the process to withhold and remit the taxes arising.

4. Tax and Accounting Service Package from H.S

We will provide the Tax and Accounting Service for your company with a reasonable price.

For small company with less than 10 billion VND capital, you will need to do tax report per quarter (3 months).

For large company with more than 10 billion VND capital, you will need to do the tax report per month.

This is the scope of work we will provide for taxation things:
1 Book-keeping
2 Consulting on building of a accounting process and vouchers delivery
3 Checking invoices and documents
4 Classifying and sort of accounting documents
5 Recording incurred expenses
6 Making quarterly financial statements (if the customer requests)/annual financial statements: Trial Balance, Balance Sheet, Statements of profit and loss, Disclosure notes (separate fee)
7 Printing accounting books and filling documents
8 Performing quarterly financial statements (as the Client’s requests)/annual financial statements (separate fee)
9 Appointing a staff as a chief accountant (separate fee if the customer request)
10 Payroll
11 Company and Employee Insurance