Accounting Outsourcing Service in Vietnam: The Pros and Cons

Accounting tasks hold a vital position within a business, thus they need to be held sufficiently in order to sustain the company. Handling accounting services can be a challenging task because there are so many things to consider, such as managing payroll, accounts receivable, and accounts payable. Therefore, the perfect solution to focus on the … Continued

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 its 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

Your Guide to Value-Added Tax (VAT) in Vietnam for 2023

Value-Added Tax, or VAT (Thue Gia tri Gia tang – GTGT) in Vietnam, is imposed on the value added to the goods or services at each production stage, from raw materials to manufacturing to distribution to end consumers. The VAT applies to goods and services purchased from foreign sources as well. However, there are exempted … 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

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

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.

Bookkeeping and Accounting in Vietnam: Things You Need to Know

For most foreign investors doing business in Vietnam, taxes and money issues are the most important things that they will have to be extremely careful about. Therefore, one of the vital elements for your business to succeed is to get yourself familiar with the accounting standards as well as bookkeeping regulations in Vietnam. Find Out … 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

Chief Accountant for Companies in Vietnam: Know Your Obligations

What is a Chief Accountant? Chief accountants are an essential part of most companies in Vietnam. 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 Vietnamese … 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