Vietnam is the second fastest growing economy in Asia with a robust GDP growth in the post pandemic era. Vietnam demonstrated its high efficiency during the pandemic and companies are once again turning their attention to this country due to geopolitical tension. This one-day workshop by ISCA is designed to provide an overall view of the tax framework in Vietnam. Using practical examples, the trainer will provide the latest updates on tax reforms and advise attendees on how to minimize corporate tax and individual income tax using tax incentives and tax treaties in Vietnam. He will also highlight the developments of tax issues on M & A cases and application of transfer pricing regulations in Vietnam.
A Highlight of Key Areas:Corporate Tax in Vietnam
- Basis of corporate taxation and different business structures
- Definition of PE in Vietnam
- Tax treatment of foreign-earned income
- Tax incentives available
- Tax reduction using offshore jurisdiction
- Global minimum tax rules
Indirect Taxes in Vietnam (VAT & SCT)
- Scope of application and tax rates
- Determination of tax payable
- Invoicing and payment requirements
- Tax refund cases
- Latest changes to Vietnam indirect tax regime
Individual Income Tax in Vietnam
- Scope of individual taxation in Vietnam
- Exemptions and deductions allowable and their limits
- Expatriates Vs Local Employees
- Tax saving instruments
- Application of Double Taxation
Foreign Contractor Tax in Vietnam (FCT)
- Scope of application
- Tax exemption cases
- Tax declaration method and tax rates
- Application of Double Taxation Treaty
Transfer Pricing in Vietnam
- Overview of Vietnam transfer pricing regulations
- Effective transfer pricing documentations
- Advance Pricing Arrangement (APA) in Vietnam - regulations and practice
- Transfer pricing audit strategies
Tax Administration and Compliance
- Tax registration, tax filings and tax payment
- Procedures for tax refund, exemption and reduction
- Tax audits and investigation
- Offences and penalties
- Taxpayer’s remedies and dispute resolution
Profit Repatriation from Vietnam
- Scope and timing of repatriation
- Determination of amount to be repatriated
- Requirements for provisional profit repatriation
- Foreign exchange restrictions and procedures
Factors to Consider When Investing in Vietnam
- Business entity options for foreign investors
- Registration and licensing procedures
- Routing of investments through an offshore company
- Investment incentives available
- Legal and practical considerations for joint venture and acquisitions of Vietnam companies
Mr Huynh Bui Ngoc HanDirector, Tax & Corporate Services, Financial Services Tax Lead
KPMG in Vietnam & Cambodia
Han has over 15 years of experiences in a broad range of advisory process on tax, corporate and statutory issues for clients including multinational organizations, foreign financial institutions, foreign invested and local companies in Vietnam. Han has extensive knowledge and experiences in tax advisory, tax due diligence, merger and acquisition, divestments and corporate restructures, and structuring advice for various Vietnamese corporations and foreign companies in different industries. Han helps clients to present technical points/argument in term of the tax authority’s investigation and audit and petition to the central tax authorities for favorable and practical guidance. With extensive work experience, Han has gained an in-depth understanding of Vietnam regulatory system in tax, banking, foreign exchange, investment and labor and of the practice of local and national authorities in implementation of regulations. Han’s clients include multi-national corporation from US, Europe, Japan and Asia Pacific in trading, retailing, manufacturing, pharmaceutical and healthcare, services, education, high-tech & software, food & beverages consumer goods, banking and insurance industries.