Vietnam Corporate Tax Guide 2024 Released by Experts

March 28, 2024

Insight into Vietnam’s Corporate Tax Landscape for 2024

Businesses operating in Vietnam can now access a comprehensive guide to the country’s corporate tax framework for the upcoming year. The latest issue from Vietnam Briefing, supported by Dezan Shira & Associates, is a valuable resource for enterprises navigating the complexities of tax planning. The guide is readily available for complimentary download at the Asia Briefing Publication Store.

The publication provides an in-depth look at various aspects of corporate taxation in Vietnam, including an overview of corporate taxes, the implementation of the global minimum tax, and the tax incentives available to business enterprises within the country.

Vietnam’s commitment to maintaining a transparent and structured tax system has positioned it favorably among emerging markets. The standard Corporate Income Tax (CIT) rate stands at 20 percent, applicable to a wide range of businesses, from local entities to foreign corporations active in Vietnam’s vibrant market.

Investment incentives, particularly tax breaks, have been instrumental in attracting global investors. These incentives are designed to promote development in specific sectors and regions, as well as in high-tech and economic zones, fostering economic and technological growth.

In alignment with international standards set by the OECD, Vietnam will introduce a top-up corporate tax starting in 2024. This move is expected to impact approximately 122 foreign companies and is part of Vietnam’s efforts to adhere to the OECD’s global anti-base erosion (GloBE) Model Rules.

The edition not only discusses the corporate tax structure but also delves into the upcoming changes and incentives. It emphasizes the importance of seeking professional tax advice due to the unique nature of each enterprise and the dynamic regulatory environment in Vietnam.

For those seeking further guidance on tax matters, including audit, transfer pricing, VAT, and how to leverage key incentives, the experts at Dezan Shira & Associates are available at vietnam@dezshira.com.

About Us
Vietnam Briefing is a part of Asia Briefing’s extensive network, providing valuable insights for foreign investors across Asia. Dezan Shira & Associates operates through a vast network of offices and alliance partners throughout Asia, offering a range of services to support foreign investment in the region.

tax incentives
In Vietnam, sectors receiving tax incentives include high-tech, education, healthcare, environmental, scientific research, infrastructure, and businesses in underdeveloped regions.

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