Regulations on Reductions and Exemptions for Personal Income Tax (PIT) in Vietnam

Vietnam has always managed to attract foreign investors because of its great geological location and it’s dynamic young workforce. That is why attracting foreign investors has been of key importance in Vietnam’s External Affairs Policy. It is one of the main reasons why Vietnam has various easier Tax and Compliance Laws to create a seamless … Continued

Navigating Annual Tax Returns (Tax Finalization) in Vietnam (2022 Update)

This article has been updated to reflect the 2022 annual tax return, known in Vietnam as “Tax Finalization” for complete accuracy. In this article, we will refer to Annual Tax Return as Tax Finalization.  If you are still confused and wonder how to go about this time-consuming task of navigating and understanding Vietnam’s annual tax … Continued

Chief Accountant in Vietnam: Know Your Obligations

What is a Chief Accountant? A chief accountant is an accountant with more advanced degrees and is able to take on the responsibilities needed to keep your taxes set up correctly and filing on time and within the constraints of the law. The government requires that if you are making a certain amount of profit … Continued

It’s All About Priorities: Must-Outsource Accounting Services in Vietnam

Compared to other types of outsourcing services in Vietnam, accounting services are among the most important aspects of businesses. In these uncertain times, outsourcing can help you reduce overhead costs significantly as well as being able to free up other resourcing so you can spend time developing your business. It is also related to the … Continued

The Right Way to Set Up Your Tax & Accounting Operations in Vietnam

While expanding one’s business in Vietnam, an investor should stay updated on the prevailing accounting and Taxes regulations and setup options. Failing to do so would have legal as well as financial repercussions. Thus, a foreign investor must keep abreast of the latest amendments in tax policies. As you plan to set up your accounting … Continued

Foreign Contractor Withholding Tax in Vietnam – What You Need to Know

In summary, the foreign contractor withholding tax occurs in Vietnam when a foreign company offers a paid service to any company in Vietnam. The Foreign Contractor Withholding Tax (also known as FCWT) was included in the Circular No. 103/2014/TT-BTC.

What every Foreign Company needs to know about the annual FDI Audit in Vietnam

This simple FDI audit is required of every foreign company doing business in Vietnam. The audit is due on March 31st of the calendar year. This is based on a new investment law introduced in 2021,  Law 61/2020/QH14 on Investment, Decree 31/2021/NĐ-CP, the investment law and the guideline for implementation Decree took effect on the 1st … Continued

How to Comply with Mandatory E-Invoices in Vietnam

In an effort to create an attractive business environment for foreign investors and reduce the complexity of Vietnam’s policy of digitalization, the Vietnamese government took a huge step towards becoming one of the most prominent and emerging global business hubs. One of these policies is by making some accounting features digitalized for ease of processing … Continued

What are the Penalties for Violating Financial & Accounting Regulations in Vietnam?

Violating financial and accounting regulations in Vietnam is one of the most expensive liabilities that businesses encounter. Yet, so many companies in Vietnam still wait until something goes wrong before they implement the necessary accounting strategies to prevent it. Cekindo will elaborate on the penalties of the violations and let you know why accounting outsourcing … Continued