What is Value-added Tax Reduction Policy in 2022?

In order to stimulate growth and recover the economy after the impact of the Covid-19 pandemic, the Government has issued a policy to reduce value added tax. The reduction of value-added tax is an effective solution and tool to stimulate consumption and is expected to create a driving force for rapid development to help businesses restore business and production.   The value-added tax reduction policy has been promulgated by Decree...

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What Are Tax Obligations of a Representative Office in Vietnam?

Vietnam-based representative office of a foreign trader means a dependent unit of the foreign trader, which is established under the provisions of Vietnamese law to conduct market survey and a number of commercial promotion activities permitted by Vietnamese law. Representative office of foreign trader in Vietnam has the rights and obligations in accordance with the law of Vietnam. Foreign trader is responsible before the law of Vietnam for all...

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Anti-dumping Law: The Basic Concepts

1. What is dumping? In international trade, dumping is a phenomenon occurs when a commodity is exported at a price lower than the selling price of that item in the domestic market of the exporting country. Therefore, it is simple to understand that if the export price of a commodity is lower than its domestic prices, the product may be considered to be dumped. 2. Why is dumping? There are many causes of dumping in international trade....

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Incentives and investment support

In order to attract foreign investment into Vietnam, the Government of Vietnam offers many policies to encourage and support investors when investing in some special trades, industries or localities. By incentives and investment support, the state proactively restructures the economy in each field and region to sustainably develop economic sectors. Investment incentives and supports are the provisions of the Investment Law, and are further...

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The note when housing transfer formed in the future?

Houses formed in the future are those in the process of construction investment and have not been tested and put into use. According to Clause 2, Article 105 of the Civil Code 2015, future-formed housing is an asset and the transfer of property must comply with civil law and relevant laws. One of them is the regulation related to taxes and fees when transferring property ownership. For housing transfer formed in the future, the financial obligations under the law include: registration fee and personal income tax. For each of these taxes...

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Tax Obligations for Foreign Entity Doing Business in Vietnam

The applicable taxes including value added tax (VAT), corporate income tax (CIT) and personal income tax (PIT). On August 6th 2014, the Ministry of Finance issued Circular No. 103/2014/TT-BTC guiding the implementation of tax obligations that are applicable to foreign organizations and individuals doing business in Vietnam or having incomes generated in Vietnam. Taxpayers: foreign contractors, foreign subcontractors; organizations established...

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Tax Obligations of Representative Offices in Vietnam

Foreign entities have found Vietnam as an increasing attractive destination for investment. They could consider entering Vietnam in various forms, including setting up representative offices. Tax lawyers in Vietnam “A representative office is a dependent unit of the enterprise, having the task of representing under authorization the interests of the enterprise and protecting such interests” (Clause 2 of article 45, Law on Enterprises...

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Tax Obligations of Representative Offices in Vietnam

Foreign entities have found Vietnam as an increasing attractive destination for investment.  They could consider entering Vietnam in various forms, including setting up representative offices. “A representative office is a dependent unit of the enterprise, having the task of representing under authorization the interests of the enterprise and protecting such interests” (Clause 2 of article 45, Law on Enterprises 2014). “Representative office...

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Decree 129/2016/ND-CP on ATIGA Preferential Import Tariff for ASEAN goods

The Government has issued Decree 129/2016/ND-CP on preferential import tariff of Vietnam in particular to implement the ASEAN Trade in Goods Agreement (ATIGA) in the period 2016 – 2018. This Decree prescribed the preferential import tariff of Vietnam to implement the ATIGA period 2016 – 2018 and the conditions for enjoying the preferential import tariff under this Decree. Issued together with this Decree is the preferential import tariff of...

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Decision 36/2016/QD-TTg Regulates the Tax Rate for Imported Goods

Decision No. 36/2016/QD-TTg dated September 1st 2016 of the Prime Minister prescribed the normal tax rate for imported goods at Point c, Clause 3, Article 5 of the Law on export and import tax. Accordingly, the import duty of 5% will be applied to many items, such as: Smart cards; Telephone answering machines; Cell phone for cellular mobile network or other wireless networks; Vacuum cleaner; Uninterruptible power supply (UPS); Automatic payment...

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