Vietnam 2024 Corporate Tax Guide Released by Experts

March 28, 2024

Insights into Vietnam’s Corporate Tax Landscape for 2024

The realm of corporate taxation in Vietnam is on the cusp of significant changes, as detailed in the freshly released guide by Vietnam Briefing, supported by Dezan Shira & Associates. The guide, an invaluable resource for businesses, is now accessible at no cost from the Asia Briefing Publication Store.

As Vietnam continues to refine its economic strategies, the publication delves into the intricacies of the nation’s corporate tax system. A standard Corporate Income Tax (CIT) rate of 20 percent is levied on most companies, encompassing a broad spectrum of sectors and foreign entities operating within the country’s borders.

Investment incentives, particularly tax breaks, have been instrumental in attracting global investors to Vietnam. These incentives are designed to promote growth in specific industries and regions, particularly those that are technologically and educationally underdeveloped. In an effort to align with international standards set by the OECD, Vietnam is introducing a top-up corporate tax starting in 2024, which is expected to impact approximately 122 foreign companies.

This edition of Vietnam Briefing magazine offers a comprehensive overview of the corporate tax structure for 2024, highlighting the key changes and incentives available to businesses. It also sheds light on the new top-up tax framework that will be implemented.

Given the uniqueness of each enterprise’s tax situation and the dynamic nature of Vietnam’s regulatory environment, professional tax advice is highly recommended. For expert guidance on tax, audit, transfer pricing, VAT, and how to leverage key incentives in Vietnam, interested parties are encouraged to reach out to Dezan Shira & Associates via vietnam@dezshira.com.

About Us
Vietnam Briefing is a part of Asia Briefing, a subsidiary of Dezan Shira & Associates, providing valuable content for foreign investors across Asia. For editorial inquiries or a complimentary subscription to their publications, contact details and further information can be found on their website. Dezan Shira & Associates offers comprehensive assistance for foreign investments in Asia, with a network of offices and alliance partners spanning multiple countries and regions.

tax incentives
In Vietnam, sectors such as high-tech, education, healthcare, environmental, and infrastructure development often receive tax incentives to stimulate growth and investment.

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