05 Feb What are all the taxes in Vietnam as of 2023?
Vietnam has several types of taxes, including:
- Corporate Income Tax (CIT): The CIT rate is 20% for companies with taxable income of up to VND 200 million, and 22% for companies with taxable income exceeding VND 200 million.
- Value-Added Tax (VAT): The standard VAT rate in Vietnam is 10%, with a reduced rate of 5% for certain goods and services.
- Personal Income Tax (PIT): The PIT rate in Vietnam ranges from 5% to 35% depending on the individual’s taxable income.
- Excise Tax: The rate of Excise Tax varies based on the type of goods being taxed, with rates ranging from 10% to 70%.
- Environmental Protection Tax: This tax is imposed on the production and import of certain environmentally harmful goods, with rates ranging from VND 2,000 to VND 50,000 per unit of goods.
- Land Use Tax: This tax is based on the value of the land and the type of use, with rates ranging from 0.03% to 0.5%.
- Special Sales Tax: This tax is imposed on certain luxury goods, with rates ranging from 10% to 70%.
It is important to note that these tax rates may change and it is recommended to consult with a tax professional or a legal firm to stay updated on any tax law changes and to ensure compliance with the tax laws in Vietnam.
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