There are many types of taxes that an FDI company must pay, depending on which tax law governs it, however most companies are subject to the following taxes:

Value Added Tax (VAT)

Quarterly VAT declaration applies to enterprises with total revenue of sales and service provision of the preceding year of VND 50 billion or less; vice versa, >50 billion is subject to monthly VAT declaration;

After full 12 months of production and business, from the next calendar year, they will base on the turnover of the preceding calendar year to make a declaration. VAT monthly or quarterly;

The deadline for payment is the 20th day of the following month if VAT is declared monthly, and no later than the 30th day of the first month of the following quarter if VAT is declared quarterly.

 

Personal Income Tax (PIT)

Enterprises that declare VAT quarterly shall declare PIT quarterly;

Enterprises that declare VAT on a monthly basis will consider two cases:

  1. If the payable PIT amount is >50 million in the month, the monthly declaration shall be made;
  2. If the payable PIT amount is <50 million in the month in which the payable PIT amount is incurred, it shall be declared quarterly;

The deadline for payment is the 20th day of the following month if declaring PIT monthly, and no later than the 30th day of the first month of the following quarter if declaring PIT quarterly.

 

Corporate Income Tax (CIT)

Enterprises do not need to submit temporary declarations on a monthly or quarterly basis, but only rely on financial statements and estimate CIT expenses for temporary payment and finalization at the end of the year.

The deadline for submitting the CIT finalization report is the 90th day from the end of the fiscal year.

 

Business License Tax

For newly established enterprises, the deadline for payment is the last day of the month of starting production and business activities;

If it is newly established but has not yet started production and business, the deadline for submission is within 30 days from the date of receipt of the business registration certificate;

For businesses that have been operating, the deadline for paying license tax is January 30 every year.