Tax Consultancy and Accounting services for enterprises

Fully and punctually fulfilling tax obligations, and setting up and recording accounting books in accordance with regulations is one of the especially important conditions for foreign enterprises to operate stably and effectively in Vietnam, and for investors to remit profits abroad. With the advantages of a law firm in Vietnam and a team of Lawyers, Consultants, and specialists in finance, tax, and accounting and many years of experience working with tax authorities, we will help you comply with tax and accounting regulations in Vietnam. In addition, our personnel will provide you with legal solutions to harmonize tax regulations with your business operations.

Procedures for registration of establishment of a foreign-invested enterprise in Vietnam

Process	Detailled description
Accounting and accounting books	We consult and help you to meet the requirements set by the Vietnamese Laws for foreign enterprises. We review the legitimacy of invoices, and documents, retain and track them; Reconcile collection and payment orders through bank account statements; Set up monthly internal reports, and profit and loss statements, record accounting books, work with auditors at the request of customers and other work related to accounting operations.
Tax compliance	We help you properly and fully fulfill the obligations of VAT reporting, corporate income tax, personal income tax for employees, foreign contractor tax for partners and customers, and other tax obligations arising in your business operations. We guide you to receive tax incentives (if any), determine deductions when calculating personal income tax, expenses deductible when calculating corporate income tax, apply double taxation avoidance agreements, etc.
Regular tax consulting	We provide you with legal opinions, and consultation letters to solve tax issues that you and your enterprise are having. We not only provide legal opinions but also provide solutions for tax issues arising in all fields, as follows: import and export, customs, purchase and sale, service provision, investment, labor, capital transfer, profit transfer, etc.

LIST OF DOCUMENTS

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COMMITMENT TO SERVICES

On time

All that we do will be planned specifically in terms of time and content. You can control what we do, and the time to completion, and in all cases, we help you maintain the enterprise’s compliance with the deadlines with competent authorities and employees.

Exactly

We commit to the accuracy of the contents of consultation, established documents, and services we provide to customers. We aim to provide you with a safe and effective legal solution for your business operations.

Security

We establish a confidentiality commitment with you, so information about the enterprise, human resources, finance, etc., and other contents related to enterprises and investors will only be disclosed with your consent or in accordance with the laws of Vietnam.

SERVICE PERFORMANCE PROCESS

Assign

CDLAF assigns designated personnel responsible for ensuring information security, ensuring that only assigned individuals have the right to access information and handle client communication.

Collect information and prepare the service contents

Assigned personnel are responsible for collecting clients information, reviewing regulations and preparing service content.

Control the quality

The Board of Lawyers and Counsels reviews the service content prepared by the assigned personnel before it is sent to clients for their review.

Clients’ approval

Clients review and approve the service content prepared by CDLAF. When requested, meetings are held to explain the prepared content.

Completion

Personnel responsible for service completion directly implement it at the competent authority (if required). They also monitor the progress, report the results, and hand them over to clients.

After-service support

Guide clients to perform necessary tasks related to the delivered results and provide updates on changes in legal regulations.

People

Contact Us

Are you confused? If you want to discuss your problem more specifically, let us help you, please fill in the information in the table below and send it to us. A free 45-minute consultation email or meeting will be arranged to help you better understand your problem solving problem.

FAQ QUESTIONS: Tax Consultancy and Accounting services for enterprises

Are accounting books required to be made in Vietnamese? Is it allowed to be made in another language?

Accounting books of the enterprise operating in Vietnam are required to be made in Vietnamese. In case a foreign language must be used in accounting documents, accounting books and financial statements in Vietnam, Vietnamese and foreign language must be used simultaneously.

What are the basic tax obligations of an enterprise?

Enterprises operating in Vietnam must fulfill their obligations to pay licensing fees; Value-added Tax corresponding to the enterprise’s business sector, the VAT rate is different between business sectors; Corporate Income Tax on enterprise’s revenue after deducting reasonable expenses; Personal Income Tax, whereby the enterprise will deduct the tax liability that the employee is responsible for paying before paying income and the enterprise will pay on behalf of the employee.

In addition, depending on the business sectors, fields as well as specific service transactions, enterprises will be responsible for declaring and paying other taxes such as: Contractor tax, Special Consumption tax, Environmental Protection Tax, Export Tax, Import Tax, etc.

What are Corporate income tax incentives?

Foreign investors with investment projects in Vietnam (new investment projects) operating in the field of software production will receive preferential corporate income tax rates of 10% for a period of 15 years from the date that project has revenue.

In addition, enterprises are also exempted from tax for 4 years from the first year the enterprise has taxable income from the investment project and a 50% reduction in tax payable (applying a tax rate of 10%) with a maximum of 9 following years. The tax exemption and tax reduction period is calculated continuously from the first year the enterprise has taxable income from a new investment project receiving tax incentives. In case an enterprise has no taxable income in the first three years from the first year of having revenue from a new investment project, the tax exemption and tax reduction period is calculated from the fourth year that the new investment project has revenue.

For example: In 2014, enterprise A has a new investment project to produce software products. If enterprise A has taxable income from the project to produce software products in 2014, the tax exemption period is continuously calculated since 2014. In case enterprise A’s new investment project to produce software products has generated revenue since 2014, by 2016 enterprise A’s new investment project still has no taxable income, the tax exemption period is calculated continuously since 2017.

The tax exemption and tax reduction period for high-tech enterprises and agricultural enterprises applying high technology in accordance with the above regulations is calculated from the year of issuance of the Certificate of recognition as high-tech enterprises and agricultural enterprises applying high technology. Corporate income tax incentives are only applied to enterprises implementing accounting, invoices, and documents and paying corporate income tax as declared.

Are foreign enterprises required to have a chief accountant immediately after establishing the enterprise?

Foreign enterprises established in accordance with Vietnamese law are subject to the Law on Accounting. Therefore, foreign enterprises must arrange a chief accountant. In case the unit cannot immediately appoint a chief accountant, it arranges a person in charge of accounting or hires a chief accountant in accordance with regulations. However, except for micro-enterprises in accordance with regulations and support for small and medium enterprises, they are allowed to arrange the person in charge of accounting and are not required to arrange a chief accountant.

When is the deadline for submitting tax declaration dossiers?

The deadline for submitting monthly or quarterly tax declaration dossiers is specified as follows:

No later than the 20^th day of the month following the month in which tax obligations arise in case of monthly declaration and payment;
No later than the last day of the first month of the quarter in which tax obligations arise in case of quarterly declaration and payment.

The deadline for submitting annual tax declaration dossiers is specified as follows:

No later than the last day of the 3^rdmonth from the end of the calendar year or fiscal year for annual tax finalization dossiers; no later than the last day of the first month of the calendar year or fiscal year for annual tax declaration dossiers;
No later than the last day of the 4^th month from the end of the calendar year for personal income tax finalization dossiers of individuals directly finalizing taxes;
No later than December 15 of the preceding year for presumptive tax declaration dossiers of business households and individuals paying tax in the method of presumptive tax; in case of new business households or individuals, the deadline for submitting presumptive tax declaration dossiers is no later than 10 days from the date of business commencement.

The deadline for submitting tax declaration dossiers for taxes declared and paid each time that a tax obligation arises is the 10^th day from the date of arising tax obligations.

The deadline for submitting tax declaration dossiers in case of termination of operation or contract or business reorganization is no later than the 45^thday from the date of the event.