As tax regulations continue to evolve, businesses must stay informed to avoid penalties. The National Assembly and Government have passed significant tax law amendments in 2024, which take effect in 2025. These changes impact Value-Added Tax (VAT), Corporate Income Tax (CIT), and related-party transaction regulations. Additionally, stricter enforcement of the Tax Administration Law grants authorities the power to impose administrative penalties for errors, late tax declarations and payments, and even prosecute or impose exit bans on chief accountants and legal representatives of companies that have overdue tax liabilities or are involved in tax fraud, evasion, or major violations. Given these developments, tax compliance and accounting have become critical priorities for business owners and management boards in 2025.
For the 2024 financial year tax finalization, you can refer to our previous check notes at the following link:
On 28 February 2025, the Government issued Decree No. 49/2025/NĐ-CP, which immediately came into effect, setting the threshold for temporary exit bans. This decree applies to business individuals, household business owners, and legal representatives of enterprises, cooperatives, and cooperative alliances who are subject to enforcement of administrative decisions on tax management. It also applies to similar subjects that are no longer operating at their registered addresses.
To help businesses adapt to these regulatory changes and minimize tax risks, Russell Beford KTC is actively assisting enterprises in reviewing internal processes, ensuring tax compliance, and identifying potential risks before they become costly penalties. Our key tax-related services include (but not limited to):
- Tax Retainer and Accounting advisory services
- Comprehensive Tax Assessment
- Tax Advisory & Compliance services
- Transfer pricing advisory
Proactive tax planning is essential to avoid unexpected penalties and ensure compliance in 2025. Contact Russell Bedford KTCto schedule a consultation and discuss the specific challenges your business may face.
