Under the Vietnam Law, following taxes may affect to the foreign invested company in Vietnam:

Corporate Income Tax which is levied on the taxable income of the FIC. Taxable income of the FIC to be calculated Corporate Income Tax shall be revenues generated in its course of production less reasonable expenses in the relevant fiscal year.

Generally, the tax rate of the Corporate Income Tax is 25% of the taxable income. Value Added Tax (VAT) applies to the supply of goods and services for use in production, business or consumption in Vietnam. VAT is calculated on the sale/purchase price of relevant goods or service before the addition of VAT. The tax rate of the VAT shall varied from 0%-5%-10%-15% depended on each specific of services or products supplied.

Import and Export Duties

Personal Income Tax (PIT):
PIT shall be applied to resident foreigner who stay in Vietnam for 183 days or more within a consecutive 12 month period at progressive rates on worldwide-sourced regular income (regardless of where the income is paid) and Vietnam-sourced irregular income.
PIT shall be applied to non-resident foreigner who stay in Vietnam for less than 183 days in a consecutive 12 month period on regular and irregular income sourced in Vietnam during their residence in Vietnam.
PIT shall be applied to Vietnamese citizens working in Vietnam or outside Vietnam on worldwide-sourced regular income and irregular income.

Lawyer Tran Trung Kien
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