Applying supplementary CIT under Global minimum TAX
As the world economies are converging and the trend of global anti-base erosion, the Global Minimum Tax (“GMT”) is being actively implemented by many countries, including Vietnam. This upcoming Tax talk aims to provide updated, clear and practical information on the supplementary corporate income tax mechanism under the Global Minimum Tax policy framework (referred in […]
Recruiting accounting staffs and interns in 2025
KTC Auditing Company Limited was established in 2006 by auditors from the world’s largest Big 4 auditing companies, and has been an official member since 2010 of Russell Bedford International – a global network of independent firms of accountants, auditors, tax advisers and business consultants. Russell Bedford is the Network of the year 2019 worldwide. […]
Large-scale enterprises must conduct compulsory audits
On April 14, 2025, the Government issued Decree No. 90/2025/ND-CP amending and supplementing a number of articles of Decree No. 17/2012/ND-CP dated 13 March 2012 of the Government detailing and guiding the implementation of a number of articles of the Law on Independent Auditing, including guidance on large-scale enterprises that must conduct mandatory audits. Other […]
Applying for Corporate Income Tax Incentives for the Software production activity
To promote technological development and encourage high value-added industries, the Vietnamese government has implemented corporate income tax (CIT) incentives for businesses engaged in software production. However, not all companies involved with software automatically qualify for these incentives. A key prerequisite is the determination of whether a business engages in software production according to regulations, as […]
Preparing for Fundraising
To successfully attract investors to your business, the board of directors and shareholders must take many necessary preparations to facilitate a smooth and successful fundraising process. In this article, Russell Bedford KTC focuses on the process of preparing financial data (one of the most important step) for investors to review and assess investment suitability, helping […]
Avoiding Tax penalty risks when finalizing 2024 Personal Income Tax
The process of finalizing Personal Income Tax (PIT) for 2024 is currently a matter of concern for businesses and individuals as the submission deadline approaches. Determining the submission deadline for PIT finalization, the responsibilities of businesses and individuals paying income, and the obligations of individuals finalizing PIT directly are areas prone to errors and require […]
Mandatory update of personal and online identification numbers for social & health insurances participants
Since 2022, the Vietnam Social Security (VSS) have been implementing, guiding businesses on the procedures for updating personal/ online Identification numbers in employee records. This implementation follows Decision No. 06/QĐ-TTg dated 6 January 2022, issued by the Prime Minister to digitalize the national citizen database and Official Letter No. 1147/BHXH-TST dated 4 May 2022, from […]
Preventing Tax Penalty Risks in 2025
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 […]
Plan to Restructure Tax Authorities
According to Report 219/BC-BNV (2025) by the Ministry of Home Affairs on the Supplementary Report, which details efforts to restructure and downsize the Government’s organizational framework, the Ministry of Finance is expected to implement the following changes: As a result, the number of tax management focal points within state agencies will be significantly reduced through […]
Avoiding Tax penalty during the finalization of corporate income Tax in 2024
The finalisation of Corporate Income Tax (CIT) for 2024 is currently the main focus for the majority of businesses as the financial year has just ended. The process of determining revenue, deductible expenses, and income eligible for incentives when finalising CIT are issues that are often prone to errors and need to be noted. Companies […]
