1. The original tax procedure
2. Types of taxes
3. Submission timeline for tax declaration and reports applied for Foreign Invested Enterprise
Enterprises established in Vietnam must report to the functional agencies on their activities monthly, quarterly and year-end. As follows:
4. Transfer pricing
There is transfer pricing regulation which outlines various situations where transactions among/ between related parties must be conducted on arm’s length basis. For compliance purpose, an annual declaration of related party transactions and transfer pricing methodologies used is required to be filed together with CIT return.
Vietnam’s tax authority follows a three-tier documentation approach and stipulated declaration forms which are required to be submitted in the last day of the 3rd month from the end of the calendar year or the fiscal year as regulated in the Decree 20/2017/NĐ-CP, Circular 41/2017/NĐ-CP and Law on Tax administration 38/2019/QH14. Vietnam’s tax authority stepping up its efforts in transfer pricing audit programs that target enterprises specifically with significant related party transactions, persistent losses or low - margins compared to other industry player.