Our collection of resources based on what we have learned on the ground
Resources
Q&A
Are business establishments in Vietnam, which pay value-added tax (VAT) accordin...
- June 2014
- Members Access
Business establishments that pay VAT according to the credit method are entitled to input VAT credit as follows: Input VAT on goods or services used for the production of and trading in VAT-liable goods and services may be wholly credited, includi...
Q&A
When are business establishments not eligible for the deduction of value-added t...
- June 2014
- Members Access
Business establishments are not eligible for the deduction of VAT in the following cases: Use of VAT invoices not in compliance with legal provisions; Invoices not being specified or incorrectly specified so that it is unable to identify the sell...
Q&A
Is input value-added tax (VAT) recoverable in Vietnam?
- June 2014
- Members Access
Input VAT is recoverable but only applies to enterprises that pay VAT under the credit method. Input VAT for goods and services used for production or business related to VAT taxable and non-taxable goods and services, only the input VAT of goods and...
Q&A
Are businesses paying tax entitled to a VAT refund in Vietnam?
- June 2014
- Members Access
Businesses and organizations paying tax by the credit method, and which have followed all necessary VAT regulations, are entitled to a VAT refund according to the following circumstances: For business establishments having input VAT amounts not co...
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...
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