Taxation in Vietnam

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The government is improving a regulation on the incorporation of private companies, aiming to encourage small and medium-sized enterprises (SMEs) to register and contribute to tax revenue.

Vietnam’s Ministry of Finance (MoF) has announced the streamlining of a range of taxation and customs procedures in Decision Nos. 509/Q?-BTC and 510/Q?-BTC. The MoF has removed one and simplified seven taxation procedures, and removed seven and simplified 38 customs procedures.

Deputy Prime Minister Vu Van Ninh said every province strives to implement an e-tax service to cut tax declaration procedural times to 171 hours per year in 2015.

Vietnam’s Ministry of Finance has proposed adding online games to the list of goods subject to special consumption taxes, which currently includes tobacco and liquor products, a decision that could result in VND650 billion (US$30.59 million) in tax collection per annum.

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