Tax reporting is essential to managing and operating a business. Emerhub offers tax reporting services to ensure you comply with local laws and regulations.
Reporting Taxes in Vietnam
The submission of tax reports happens on a quarterly and annual basis.
The quarterly tax report includes:
- Value-Added Tax (VAT) return
- Personal Income Tax (PIT) return
- Report of using the outcome VAT
The annual tax report includes:
- Annual financial statement
- Statement of return PIT
- Statement of return Corporate Income Tax (CIT)
Tax reports in Vietnam must follow the Vietnamese Accounting System (VAS) standard, as such the International Financial Reporting Standards (IFRS) don’t apply in Vietnam. The accounting software used for preparing tax reports must allow modifications to follow Vietnam’s standards.
Foreign-owned entities are subject to an audit once a year. The audit must happen within 90 days from the end of the commercial year and must follow Vietnam Standards on auditing issued by the Ministry of Finance and International Standards on Auditing.
Taxes in Vietnam
Personal income tax for residents varies depending on each individual’s income and goes from 5% to 35%. Meanwhile, the tax for all non-residents is 20%. Employers must also pay social security taxes for their employees. The social security taxes go to health and social insurance for foreign and local employees, and unemployment insurance for local employees.
There is a standard rate of 20% for corporate income taxes. The Vietnamese government, however, offers special tax rates for some sectors.
- High technology
- Scientific research
- Infrastructural development
- Computer software manufacturing
- Manufacturing projects
Tax Reporting by Emerhub
As part of Emerhub’s tax reporting services, we can prepare your tax reports per standards set for Vietnam. We will assist in maintaining compliance with Vietnamese regulations.
Our services include:
- Tax reporting
- Tax accounting
- Statutory financial statements
Our highly skilled and experienced accounting team will produce accurate results for your company.