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6 Key Accounting, Tax and Compliance Challenges in Vietnam

2019 Increases to Vietnamese Minimum Monthly Wage

 

The accounting, tax and compliance function in Vietnam is one which presents significant challenges in Vietnam, and more so to foreign invested businesses. Six specific challenges that investors face in respect of these, are detailed below, looking at the issues, risks and strategies to minimise.

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Vietnam Tax Update February 2019

 

Our February 2019 publication on Tax and Accounting updates covers upcoming lodgement and filing deadlines in Vietnam, and has our regular review of recent Official Letters released by the Tax Authorities.

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Vietnam Tax Guide 2019

 

We have published our 2019 Tax Guide for Vietnam, which is a comprehensive document covering most common taxes in Vietnam - for both Corporate Taxpayers and Individuals.

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Vietnam Tax Update January 2019

 

Our January 2019 publication on Tax and Accounting updates looks at recent releases from Vietnamese authorities, looking at recent changes to accounting options for micro enterprises, along with our regular review of recent Official Letters released by the Tax Authorities.

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2019 Increases to Vietnamese Minimum Monthly Wage

2019 Increases to Vietnamese Minimum Monthly Wage

 

The Vietnamese Government formally proclaimed the previous draft increases for Minimum Monthly Wages in Vietnam for 2019 via Decree 157/2018/ND-CP. Employers should ensure contracts and payments to employees, together with their associated Unemployment Insurance contributions, meet the updated requirements detailed below.

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Vietnam Tax Update December 2018

 

This December 2018 publication on Tax and Accounting updates covers recent releases from Vietnamese authorities, particularly upcoming changes to payroll costs, along with our regular review of recent Official Letters released by the Tax Authorities.

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2019 Vietnam Compliance Calendar

 

We have released our 2019 Vietnam Compliance Calendar, which provides an overview of the key dates and obligations for Accounting, Taxation, Payroll and Statistical Lodgements for Vietnamese entities for the next 12 months. This guide provides is an important foundation for any companies compliance and reporting planning in Vietnam.

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Demystifying the Role of the Chief Accountant in Vietnam (and why you need to care!)

  

In Vietnam, companies are required to appoint a “Chief Accountant” as a statutory position. The Chief Accountant role is one that is not common in most countries, particularly those with a Common Law background, and the purpose and responsibilities of the appointment is often misunderstood. Vietnamese laws state that the Chief Accountant is the “head of the accounting function” [1] of a company, and we will discuss further what that means.

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Please feel free to contact Domicile Corporate Services or visit us using the information below.

Vietnam Offices

Ho Chi Minh City:
Level 9, Abacus Tower
58 Nguyen Dinh Chieu, District 1 

Hanoi:
Level 13, Hanoi Towers
49 Hai Ba Trung, Hoan Kiem District

Danang:
Level 3, Indochina Riverside Tower
74 Bach Dang, Hai Chau District

Email

info@domicilecs.com

Phone

+84 (0)28 6291 5779 (HCMC)
+84 (0)24 3266 3314 (Hanoi)
+84 (0)236 366 4662 (Danang)

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