Tax is one of the most complex issues in Vietnam but Vietnam has made great strides towards the harmonisation of tax regimes to ensure that investors have a peace of mind in investing in Vietnam.
The tax regime in Vietnam is governed by a complex network of tax rules to ensure the efficient collection of taxes to support the growth and development of Vietnam. Learn how to understand the local practices suitable for your business. Do note that the tax implications varies across different industries and jurisdictions.
Legal Tax Challenges:
Some of the tax challenges typically faced by new foreign companies entering Vietnam includes :
1. Ensuring the capital inflows and capitalisation of company
2. Obtaining the necessary approvals from State Bank of Vietnam and other agencies (where applicable)
3.Opening of USD and VND bank accounts and their uses
4. Repatriation of Profits and Withholding taxes issues
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