05 Feb What are the current tax exemptions in Vietnam?
Vietnam currently has various tax exemptions in place, aimed at promoting investment and supporting certain industries and activities. Some of the main tax exemptions in Vietnam include:
- Corporate Income Tax (CIT) exemptions: CIT exemptions are available for certain types of business activities such as high-tech companies, software development, renewable energy, and investment in disadvantaged regions.
- Value Added Tax (VAT) exemptions: VAT exemptions are available for exports, international transportation, and the supply of goods and services in specific industries such as education and healthcare.
- Import-Export Tax exemptions: Import-Export tax exemptions are available for certain types of goods, such as raw materials, and machinery and equipment used for production purposes.
- Personal Income Tax (PIT) exemptions: PIT exemptions are sometimes available for foreign employees and their families working in Vietnam, and for individuals receiving income from abroad.
- Land Use Tax exemptions: Land Use Tax exemptions are available for land used for specific purposes, such as for agriculture or for supporting social or cultural activities.
These tax exemptions are subject to change and can vary based on a number of factors such as the type of business, location, and other factors. It is important for businesses to stay informed and seek advice from professional advisors to ensure they are in compliance with the current tax regulations in Vietnam.
Contact PCA Company Services today. We will help you email@example.com