Posted 3.02. 2020 by Cekindo / Last update on 24.06. 2020
Regardless of where you live and work, you must file for taxes everywhere in the world including Vietnam. Vietnam is a very popular destination for expatriates from all over the world with diverse nationalities. As such, most foreigners in Vietnam are obliged to pay taxes as well.
As a result, it is vital to have an understanding of how taxes can affect you and your businesses, and what taxes you must pay to the Vietnamese government while you’re living here.
Here’s the latest Vietnam tax guide for 2020 that Cekindo has prepared for all businesses and individuals in Vietnam.
Of course, tax compliance is important because it is one of the regulations in the country and if you don’t abide by it, you will have to face legal consequences.
Below in this Vietnam tax guide are some other reasons why it is important to comply with tax laws and regulations in Vietnam.
1. There are financial consequences if you don’t pay taxes
Penalties and interests on unpaid taxes can be hefty. Therefore, you’re only putting your business in financial danger if you don’t pay taxes as those fines and interests can be significant and detrimental to your financial health.
2. Tax revenues are used for public benefits and social programs
Taxes collected are used to improve the quality of life of the country as well as the local areas. Therefore, tax revenues are the reason you and your future generation can enjoy a better life.
In this Vietnam tax guide, Cekindo will include the details of the most common taxes in Vietnam:
|To help businesses recover from the COVID-19 crisis, The National Assembly decided to reduce 30% of corporate income tax for 2020 tax year. The eligible businesses are those with revenues not exceeding VND 200 billion.|
Learn how to manage your corporate income tax in Vietnam the right way.
Based on Resolution 954/2020/UBTVQH14 on June 2, 2020 about the Increases in family circumstance-based deduction for Personal Income Tax, take note of the following:
With a specialised team of dedicated tax compliance professionals in Vietnam, Cekindo can accomplish your requirements regardless of how simple or complex your taxes are.
The taxation in Vietnam can be highly particular and complex; thus, we think that there’s no one-size-fit-all approach.
Cekindo’s team has the unparalleled knowledge to deal with all your tax obligations in an expedient and efficient manner. We factor in all your short-term and long-term goals, and your business and personal objectives so that you will be able to optimise your tax position more effectively.
Talk to us and we will help you achieve the best tax outcomes. Fill in the form below.