FCT is regulated under Circular 103/2014/TT-BTC issued by the Ministry of Finance dated 6 August 2014. Who are considered foreign contractors? Foreign contractors are: those practice or do business in Vietnam or generate income in Vietnam on the basis of a contract, agreement, or commitment with a Vietnamese party, or with another foreign party doing […]

What are the current regulations on CIT? CIT Law 32, 2013 amended some key regulations in the CIT Law 14, 2008. How is CIT computed and CIT rate? CIT = Taxable Income * Tax rate Taxable income in a period shall be determined as follows: TI = TT – DE + OTI TI – Taxable […]

Who are PIT payers in Vietnam? How is PIT determined? All individuals who have income raised in Vietnam are regulated as PIT payers in Vietnam. PIT is determined on a residency basis. A resident is a person satisfying either: physical presence in Vietnam in an aggregate of 183 days or more in a solar year […]