Our collection of resources based on what we have learned on the ground
Resources
Q&A
Where should foreign-invested enterprise submit audited reports in Vietnam?
- January 2013
- Free Access
Within 90 days after the end of the fiscal year, Foreign Invested Enterprises (FIEs) need to prepare and submit audited reports to three different government departments: Provincial Department of Planning and Investment (DPI) or Provincial-level E...
Q&A
In which cases expenditures that otherwise fully meet deductible conditions are ...
- January 2013
- Free Access
Non-deductible expenditures - specific cases: Expenditures related to the value of loss caused by natural disaster, epidemic, fire and other unforeseen circumstances without any compensation; Expenses for raw materials, supplies, fuel, energy and...
Q&A
What are the general accounting treatments on tax year in Vietnam?
- January 2013
- Free Access
The current corporate income tax regulations provide that the basis period for the tax year can be either the calendar or fiscal year. The maximum length for a single tax year is 15 months; any period of time that is more than 15 months should be sep...
Q&A
What are the general accounting treatments on loss carry forward in Vietnam?
- January 2013
- Free Access
When a tax finalization report for the fiscal year is done, the company should determine the losses and transfer all to the following year. Losses must be carried forward in a consecutive manner and should not exceed 5 years. Losses in a different qu...
Q&A
What are the major taxes that are most relevant to foreign-invested entities in ...
- January 2013
- Free Access
The major taxes are as follows: Corporate income tax Dividend distribution tax Minimum alterative tax Value-added tax Central sales tax Goods and services tax Customs duty Excise duty (CENVAT) service tax Capital gains tax Wealth tax Wit...
Q&A
How is corporate income tax levied under Indian laws?
- January 2013
- Free Access
Corporate income tax is levied against the income or profit made by a corporation in accordance to Income Tax Act. There is the divsion between domestic and foreign corporations, where all foreign-invested corporations, except liaison offices (since ...
Q&A
What is dividend distribution tax under Indian law?
- January 2013
- Free Access
It is a tax levied when dividend is distributed and against the distributing company, not its shareholders and the tax rate is 16.22 percent.
Q&A
What is the minimum alternative tax under Indian law?
- January 2013
- Free Access
It is a tax that is levied to company that has adjusted booked profit that amounts to less than 18 percent. The tax rate is 18.5 percent plus education cess and surcharge.
Q&A
How is value-added tax levied under Indian law?
- January 2013
- Free Access
Value-added tax is levied on most types of goods t 12.5 percent. There are alternative rates, such as four percent and one percent, given certain requirements are met. However, there is no such tax on import and the rate on export is zero. Also, for ...
Q&A
What is central sales tax under Indian law?
- January 2013
- Free Access
Central sales tax is a tax that is applicable to goods that are traded interstate. Thus, if registered dealers buy and sell goods for the purpose of trading, or for the sake of manufacturing inputs or other specific activities, then the tax will be a...
Q&A
What is custom duty under Indian law?
- January 2013
- Free Access
Custom duty is applicable to goods imported into or exported from India. The normal rate is ten percent of the transaction value of the im-/exported goods. Also, an extra two percent of education charge is normally levied on the transaction amount of...
Q&A
What is central value-added tax under Indian law?
- January 2013
- Free Access
Central value-added tax is levied on production or manufacturing of moveable goods. It comes at a rate of ten percent, with a maximum of 12 percent. The classification of which rate is applicable is to be found in Central Excise Tariff Act.
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