Our collection of resources based on what we have learned on the ground
Resources
Q&A
How did the Law on Amendment of Value-Added-Tax (VAT) change the VAT refund in V...
- June 2014
- Members Access
The Law on Amendment of VAT changed the VAT refund in terms of increasing the amount and period of tax refund. Particularly: When business establishments pay VAT according to the tax credit method and have their input VAT amounts not fully credite...
Q&A
Who is responsible for declaring and paying value-added tax (VAT) when buying fr...
- June 2014
- Members Access
Vietnam-based production and business organization and individuals that purchase services from foreign organizations without permanent establishments in Vietnam or overseas individuals not residing in Vietnam shall be responsible for declaring and pa...
Q&A
How does a company obtain a value-added tax (VAT) number in Vietnam?
- June 2014
- Free Access
The VAT number is the tax code of the company and is registered within 10 days from issuance of the business registration certificate. Business establishments, including subsidiaries, have to register VAT payment to the direct tax agency under the gu...
Q&A
What is a value-added tax (VAT) invoice in Vietnam?
- June 2014
- Members Access
A VAT invoice is an invoice reserved for organizations and individuals that declare and calculate VAT by the credit method in the following activities: Sale of goods and provisions of services inland; International transport; Export of goods int...
Q&A
What is the procedure for filing and paying of value-added tax (VAT) in Vietnam?
- June 2014
- Members Access
Business establishments must declare VAT each month and submit a tax declaration in the first 20 days of the following month. In the absence of incurred input or output VAT, business establishments still have to declare and submit a tax declaration. ...
Q&A
Is value-added tax (VAT) part of the yearly audit in Vietnam?
- June 2014
- Free Access
VAT is a part of a financial statement that is audited every fiscal year. According to the law, the following enterprises shall be audited: Foreign-owned invested enterprises; Credit institutes; Financial organizations and insurance business ent...
Q&A
Are there penalties for companies who do not pay their value-added tax (VAT) on ...
- June 2014
- Members Access
A taxpayer who pays tax after the extended deadline for tax payment has passed, or after the time limit stated in the notice and handling decision of a tax administration agency shall fully pay the tax and late payment interest amount. The penalty wi...
Q&A
What are the special arrangements for value-added tax (VAT) in Vietnam?
- June 2014
- Members Access
If imported goods are refunded to overseas traders, import VAT and import duties’ refund can be claimed in proportion with actual re-exported goods. If the company registers the temporary import and re-export declaration, imported goods shall n...
Q&A
What are some ways to improve value-added tax (VAT) recovery and have a more VAT...
- June 2014
- Members Access
While there is no effective way to increase your VAT refund, there is an efficient way to meet the conditions to ensure that you are entitled to a VAT refund. Businesses and organizations paying tax by the credit method that have met all their VAT re...
Q&A
How can companies limit their exposure to value-added tax (VAT) in Vietnam?
- June 2014
- Members Access
To limit VAT exposure, a VAT taxpayer using the tax credit method should be aware of the guidelines that will help them determine input VAT credit. These guidelines are as follows: The input VAT on goods or services used for the production of and ...
infographic
Key differences between the IFRS/IAS and current India AS
- June 2014
- Free Access
This infographic details the key differences between the International Financial Reporting Standards/International Accounting Standards and the current Indian Accounting Standards.
Q&A
What are the two primary objectives associated with annual audit in India?
- June 2014
- Free Access
There are two primary objectives associated with annual audit in India. The first objective is for auditors to report to shareholders and the government whether or not the company’s balance sheet provides a true and fair reflection of its state...
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