taxes for a start-up

Last activity 23 September 2014 by Jaitch

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KimmartActive member23 September 2014 10:24:22

Dear all,
I am thinking about opening a company in VN. Could you please tell me how many kinds of tax that a company has to pay for the government?
Look forwards to hearing form you
Thanks
Kim

JaitchGuest23 September 2014 11:49:56

214245

It depends of what you mean by 'taxes'.

The corporation has to pay 'income tax' at a rate determined by the tax department - at least USD$150 depending upon province.

In addition they will get a minimum from you, personally, of around the same amount.

Then, for each VN employee they will expect you pay Health*, Pension*, Worker Compensation*, etc. (which some consider 'tax') and, if paid enough, income tax. (*These terminologies are to help you understand).

Deductibles are very limited but that's why they allow very expansive 'Incidentals' payouts column unsupported by receipts. This is where we put 'bribes' paid to officials, etc.

There is a VAT paid form which is offset against your VAT due to government amount.

The bottom line is that they expect to see something from Foreigners.

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