201 9 Year-end Tax Compliance Did you know? Common mistakes in CIT and TP documentation Incorrect assessment of tax incentives Inappropriate allocation of expenses among related parties Insufficient supporting documents for expenses Incorrect declaration of TP disclosure forms and/or TP documentation Over-claimed deductible expenses Incorrect claim of tax losses carried forward. Unclear/incorrect documentation related to cross-border transactions Late submission of TP disclosure forms and/or TP documentation Tax and Corporate Services | Corporate Income Tax in Vietnam Tax authority targets for 201 might impact your bottom line Inaccurate documentation puts you at risk for tax non-compliance 11.5% Target rate of increase for tax collection in Vietnam 20% Administrative at 0.03% per day for late payment interest TP Your related party transactions and documentation may put you at risk for tax audit Non-compliance of other laws (labour, commercial, etc.)
Transcript
Tax and Corporate Services | Corporate Income Tax in Vietnam
2019 Year-end Tax ComplianceDid you know?
Common mistakes in CIT and TP documentation
Incorrect assessment of tax incentives
Inappropriate allocation of expenses among related parties
Insufficient supporting documents for expenses
Incorrect declaration of TP disclosure forms and/or TP documentation
Over-claimed deductible expenses
Incorrect claim of tax losses carried forward.
Unclear/incorrect documentation related to cross-border transactions
Late submission of TP disclosure forms and/or TP documentation
Tax and Corporate Services | Corporate Income Tax in Vietnam
Tax authority targets for 2019 might impact your bottom line
Inaccurate documentation puts you at risk for tax non-compliance
11.5%Target rate of increase for tax collection in Vietnam
20% Administrative Interest at 0.03% per day for late payment interest
TPYour related party transactions and documentation may put you at risk for tax audit
Non-compliance of other laws
(labour, commercial, etc.)Causes non-deductibility of your business expenses
Tax and Corporate Services | Corporate Income Tax in Vietnam
Our experienced corporate tax and government liaison team can help you identify opportunities to secure tax savings or tax incentives through proper CIT planning; understanding, complying, and managing the new reporting requirements, which will impact your tax filing and documentation obligation.
CIT Compliance Services• CIT preparation outsourcing• CIT declaration review• CIT compliance training• Related Party Transaction report
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We have 3 offices in Vietnam: Ho Chi Minh City, Hanoi, and Danang, with 40 partners and over 1,600 staff.
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Vietnam Tax Firm of the Year International Tax Review, 2014 – 2019
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