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 […]
Major law changes on tax application and administration
As with the fast-changing pace of the business and investment environment in the digital age, current legal regulations in Vietnam have revealed many limitations in administration and practical application to suit the development needs of new business models and the increase in average personal income. On November 30, 2024, the 8th session of the National […]
Russel Bedford KTC HCM Newletter 01.2025
MAJOR LAW CHANGES ON TAX APPLICATION AND ADMINISTRATION As with the fast-changing pace of the business and investment environment in the digital age, current legal regulations in Vietnam have revealed many limitations in administration and practical application to suit the development needs of new business models and the increase in average personal income. On November […]
KTC Online Talk: New updates on Tax Law & drafts impact on Businesses & Individuals
Recently, the government and tax agencies have increased audit and inspection activities related to tax compliance. Additionally, many new tax regulations are being amended and introduced to better align with the evolving landscape of more complex business models. In this Tax Talk, KTC will share and discuss with participants the changes in new tax laws […]
Effective cashflow management
Cash flow management is always a hot topic in every business, especially in times of recession and instability as currently experienced in the Vietnamese economy. The coordination between CEO and CFO (Chief Executive Officer and Chief Financial Officer) is a crucial factor that can determine the success or failure of business strategies. The common flaw […]
Preparing for Tax finalisation
Tax finalisation is a familiar and crucial annual task of the accounting and finance department. In addition to the mandatory compliance with the submission deadline, the declared information is also the basis for the tax authority to utilize and select subjects for audit/ inspection planning purposes. In many cases, the tax authority does not conduct […]
Tax declaration for related-party transactions
In 2024, tax authorities continue to increase their audit/ inspection activities to improve tax management, including compliance with regulations on related-party transactions for FDI enterprises in Vietnam. The adoption of Resolution 107/2023/QH15 on applying global minimum tax, effective from the beginning of 2024, also shows the government’s determination to manage cross-border profits and avoid tax […]
KTC Online Talk: e-commerce – tax obligations for enterprises 29-08-2024
Vietnamese E-commerce market in recent years has gradually becoming more important in the economy (with the scale of USD 25 billion) and experiencing a consistent growing trend. The proportion of retail goods and consumer services traded via e-commerce currently accounts for about 10% of the total retail sales of the whole market. More and more […]
