Vietnam Advanced Consulting (VAC)

Finance Consultancy Services

Audit services in Vietnam are pretty different from those in Japan. We have a well informed staff who can provide you with useful information on these services understandable completely in Japanese language. Our services include:

Registration agency
Monthly Inspection
Annual Inspection
Application for source income tax (including people on business trip)
Application for VAT

TEL：03-3835-1607

(1) Law on Enterprise Income Tax

Since January 2004, the enterprise income tax rate applicable to business establishments including Vietnamese companies, limited liability enterprises, foreign companies, joint-ventures, foreign invested companies, partnerships has been 28%. Tax offices will guide business establishments in declaring and paying tax. In case there is unfortunately any suffering from the losses after enterprises make tax settlements with tax offices, they will be entitled to transfer such losses to the following year. The valid duration for the loss transfer is 5 years. Vietnamese government's preference policy for enterprise income tax which used to be established in Law On Foreign Investment has now improved, and been re-established in Law On Enterprise Income Tax.
Every year, business establishments need to submit the tax offices directly their tax declaration form set by the tax offices. The declaration needs to include the company's turnovers, expenses and taxable incomes as well as quarterly payable tax amounts. Also, business establishments will have to hand in their analytical and related documents of any items'price adjustment within 30 days if requested.

(2) Personal Income Tax

Payers of Personal Income Tax in Vietnam include:

Vietnamese citizens with incomes, living in Vietnam as well as in other countries
Foreigners with incomes, living in Vietnam regardless of the period of stay
Foreigners with incomes generated in Vietnam

Foreigners living in Vietnam more than 183 days a year are considered as foreign residents and will be taxed on their global incomes. And those who live less than 183 days per year in Vietnam will be treated as non-residents and have to pay 25% of their average incomes in Vietnam.
*From 1/1/2009 new law on personal income tax will be implemented

(3) VAT

VAT, except for some goods determined particularly for tax exemption, is applied for all of those engaged in production, commerce, imports and services.
On the other hand, typical commercial items of consumption tax include such products as cigarette, liquor, beer, car, oil, air-conditioner, gamble card etc and such services as disco, massage, karaoke, casino, golf, horse-racing, car racing etc, all of which are also being imposed on by VAT.