Consultancy for Doing Business in Vietnam

Why Foreign Investors Need More Than a License

Catherine Lê Thị Ngọc Bé — Sun, 11 Oct 2026 05:12:04 +0000

For many foreign investors, obtaining a company license feels like the finish line. In reality, it is the beginning.

Once a business is established in Vietnam, the investor may still need to manage accounting and tax, employees, payroll, immigration, recruitment and ongoing compliance.

This is why VIETNAM MANUAL takes an end-to-end approach.

Before establishment

We help investors understand their business model, licensing requirements and the practical steps needed to establish a business in Vietnam.

During establishment

We support company formation and relevant licensing procedures, helping investors prepare the required documentation and understand the process.

After establishment

Once the company starts operating, our support can continue through:

Accounting & Tax – accounting, tax reporting and compliance support.

HR & Payroll – employment administration, payroll, PIT and social insurance support.

Visa, TRC & Work Permit – support for foreign founders, managers, experts and employees.

Recruitment & Outsourcing – support when businesses need local talent or outsourced resources.

M&A & Real Estate – additional support for investors considering broader investment or business opportunities.

The key idea is simple: Company formation is not the destination. It is the first step.

Foreign investors need a local partner who understands the practical requirements of operating in Vietnam.

At VIETNAM MANUAL, our mission is to help foreign investors build, operate and grow their businesses in Vietnam with greater confidence.

VIETNAM MANUAL – Your Partner for Doing Business in Vietnam.

5 Things Foreign Investors Should Know Before Setting Up a Company in Vietnam

Catherine Lê Thị Ngọc Bé — Fri, 09 Oct 2026 15:54:07 +0000

Setting up a company in Vietnam is more than completing a registration procedure. Before starting the process, foreign investors should understand the broader business and compliance requirements.

Here are five areas to consider.

1. Start with the right business model

Before applying for a license, clarify what you actually want to do in Vietnam.

Your business activities, target customers, investment structure and operating model can affect the appropriate setup and licensing requirements.

2. Check licensing and business lines carefully

Different activities may have different licensing or market-access considerations.

It is important to identify the intended business activities and relevant requirements before submitting the application.

3. Plan accounting and tax from the beginning

Company establishment is only the beginning.

After establishment, the company may have accounting, tax reporting, VAT, CIT, PIT and other compliance responsibilities.

Understanding these obligations early can help investors avoid unnecessary problems later.

4. Think about HR and payroll

If you plan to hire employees in Vietnam, you should consider employment contracts, payroll, personal income tax and social insurance requirements.

If you plan to bring foreign employees to Vietnam, visa and work permit matters should also be considered.

5. Think beyond company formation

A company may receive its license, but the business journey continues.

Foreign investors may need ongoing support with tax, accounting, HR, payroll, immigration, compliance, recruitment and other local matters.

At VIETNAM MANUAL, we support foreign investors at both the pre-establishment and post-establishment stages.

Business Model → Licensing → Accounting & Tax → HR & Payroll → Visa & Work Permit → Compliance → Local Support

Getting the foundation right can make the journey much easier.

VIETNAM MANUAL – Your Partner for Doing Business in Vietnam.

If you are considering setting up a business in Vietnam, let’s have a coffee and discuss your plan. ☕🇻🇳

VIETNAM MANUAL – Your Partner for Doing Business in Vietnam

Catherine Lê Thị Ngọc Bé — Thu, 08 Oct 2026 15:15:53 +0000

Entering Vietnam can be an exciting opportunity for foreign investors. But establishing and operating a business in a new market also means navigating unfamiliar licensing procedures, tax and accounting requirements, HR matters, immigration rules and ongoing compliance.

☀️This is where VIETNAM MANUAL comes in

We provide one-stop business solutions for foreign investors doing business in Vietnam, supporting clients from the early stage of planning and company formation through day-to-day operations.

Our key services include:

Company Formation & Business Licensing
Tax & Accounting
HR & Payroll
Visa, Temporary Residence Card (TRC) & Work Permit
M&A & Real Estate Advisory
Outsourcing & Recruitment Services
Other business support services

Our role is not simply to help a foreign investor obtain a business license. We aim to help clients build the right foundation for doing business in Vietnam.

A successful business needs the right combination of business model, licensing, accounting and tax, HR and payroll, immigration and compliance.

We support both the pre-establishment and post-establishment stages, helping foreign investors understand what needs to be done and coordinate the necessary local support.

Whether you are considering entering Vietnam, establishing a company, hiring employees, recruiting foreign experts or looking for ongoing business support, we are ready to connect.

🌱VIETNAM MANUAL

Đối tác đồng hành khi kinh doanh tại Việt Nam

Before you take your first step into Vietnam, let’s have a coffee — and let us help you get it right. ☕🇻🇳

VIETNAM MANUAL TEAM

Vietnam Raises Statutory Basic Salary From July 2026

Catherine Lê Thị Ngọc Bé — Sat, 11 Jul 2026 16:46:38 +0000

Decree No. 161/2026/ND-CP regulates the Statutory Basic Salary at VND 2.53 million , effective July 1, 2026, marking an approximate 8% rise. The policy also adjusts insurance contribution caps, setting the maximum monthly salary for social insurance, health insurance and trade union fee at VND 50.6 million, the old level of VND 46.8 million.

Although the statutory basic salary primarily applies to state-sector employees, including officials, civil servants, public employees, and armed forces personnel, the increase also has important implications for private-sector businesses. The statutory pay rate serves as the benchmark for calculating caps and contribution thresholds under Vietnam’s mandatory labor contribution system. Under Vietnam’s labor regulations, the maximum salary used for calculating compulsory social insurance and health insurance contributions is capped at 20 times the statutory basic salary.

Following the new decree, the new capped salary level for contribution purposes will rise accordingly: from VND 46.8million to 50.6million. Employees whose salaries exceed the new threshold may also see higher payroll deductions for mandatory insurance contributions.

VIETNAM MANUAL TEAM, JUL2026

New Points in CIT Applying for Fiscal Year 2025

Catherine Lê Thị Ngọc Bé — Mon, 23 Mar 2026 17:22:44 +0000

In this article, we will update Key Changes in Corporate Income Tax (CIT) applying from fiscal year 2025: CIT Law 2025 No. 67/2025/QH15 issued on 14Jun2025, Decree No. 320/2025/ND-CP issued on 15Dec2025 and Circular No. 20/2026/TT-BTC issued on 12Mar2026.

Tax Incentives for SMEs:

Rate 15% for enterprises with Revenue not exceeding 3billion VND.
Rate 17% for enterprises with Revenue between 3billion VND and 50 billion VND.
Standard Rate 20% for enterprises with Revenue exceeding 50 billion VND.

Capital gain tax (CGT) declaration method

Foreign enterprises conducting direct and indirect capital transfers are subject to a deemed 2% tax rate on Transfer price. In many years, tax rate of transferring capital in Vietnam was 20% on profit (Transfer price- Purchase price- Transfer expenses).

Foreign e-commerce and digital businesses pay CIT on income derived in Vietnam

Foreign companies engaged in e-commerce and digital-based businesses pay Vietnamese CIT on income derived in Vietnam, regardless of whether they have a permanent establishment in the country.

CIT Exempted Profit:

Profits from agriculture, forestry, fisheries and salt production;
Profits from technology transfer;
Profits from “green finance” and environmental instruments can be exempt from CIT where conditions in the Decree are met;
Profits from the Government investment support fund

Deductible and non-deductible expenses

There are adjustments of defining conditions and supporting documents for deductible and non-deductible expenses in which significant change is Noncash payment threshold. The VND 5 million threshold for mandatory noncash payment applies from the effective date of Decree 320/2025/ND-CP 15Dec2025 and is not retroactively applied to the entire 2025 tax year.

To get the original and English translated documents of CIT Law 2025 No. 67/2025/QH15, Decree No. 320/2025/ND-CP, Circular No. 20/2026/TT-BTC and tax authority’s guidance on mandatory reports for Year-end 2025, just email to consulting@vietnammanual.com.

Vietnam Manual Team, 20Mar2025

MONTHLY TAX NEWS: Feb2026

Catherine Lê Thị Ngọc Bé — Mon, 23 Mar 2026 09:31:03 +0000

1. Official Dispatch No. 832/CT-CS dated February 3, 2026 issued by the Tax Department regarding value-added tax (VAT) policy (in response to the Hanoi Tax Department).

On September 3, 2025, the Forestry and Forest Protection Department (under the Ministry of Agriculture and Environment) issued Official Letter No. 1616/LNKL-SDR in response to Official Letter No. 3229/CT-CS dated August 18, 2025 of the Tax Department, stating as follows: “Pursuant to Item 16101, Appendix II issued together with Decision No. 27/QD-TTg dated July 6, 2018 of the Prime Minister promulgating the Vietnam Standard Industrial Classification, activities such as sawing, cutting, planing, carving, and machining of wood are classified under the manufacturing and processing industry sector.”

Based on the above-mentioned regulations and guidance, the Tax Department agrees with the proposal of the Hanoi Tax Department stated in Official Letter No. 26993/CCTKV01-TTKT4 that agarwood wood chips produced from cultivated Aquilaria trees are processed wood products.

2. Official Dispatch No. 845/CT-CS dated February 4, 2026 issued by the Tax Department regarding value-added tax (VAT) policy (in response to the Lam Dong Provincial Tax Department).

In principle, if Tran Ngoc Bao Uyen Co., Ltd. satisfies the conditions for input VAT credit and VAT refund applicable to investment projects in accordance with VAT regulations, and submits a complete refund application dossier for the investment project in compliance with tax administration laws, it shall be eligible for consideration of a VAT refund for the investment project.

3. Official Dispatch No. 1001/CT-CS dated February 11, 2026 issued by the Tax Department regarding personal income tax (PIT) policy (in response to Ms. Pham Ngoc Tuyet Van).

In case Ms. Pham Ngoc Tuyet Van has already been issued a personal tax identification number and is subject to self-finalization for the 2017 personal income tax (PIT) refund, but did not include family circumstance deductions for her dependents (two biological children) in the 2017 tax year, she shall be entitled to claim deductions for such dependents (two biological children) from the month the obligation to support arose, provided that she registers the dependents for family circumstance deduction at the time of tax finalization.

In addition, according to the petition submitted by Ms. Pham Ngoc Tuyet Van, she had registered her two dependents (her biological children) with her former company from the years of their birth, in 2004 and 2013. However, based on the attached documents, the two dependents (her biological children) were issued tax identification numbers by the tax authority in November 2019.Ms. Pham Ngoc Tuyet Van is requested to contact the Ho Chi Minh City Tax Department for guidance on reviewing the dependent registration data and the 2017 PIT refund finalization dossier in accordance with regulations.

4. Official Dispatch No. 1052/CT-CS dated February 12, 2026 issued by the Tax Department regarding value-added tax (VAT) policy (in response to the Dak Lak Provincial Tax Department and Phu Yen High-Tech Dairy Farm Co., Ltd.).

In case the Company implements an investment project in multiple phases, with a business plan for producing pasteurized fresh milk products (without selling raw fresh milk), operates a closed production process (from dairy farming to obtain raw fresh milk through processing into pasteurized fresh milk products for sale, including outsourced processing of pasteurized fresh milk products), applies centralized accounting, and uses products not subject to VAT to produce goods subject to VAT, the input VAT incurred during the investment phase for the formation of fixed assets shall be fully creditable.

5. Official Dispatch No. 1061/CT-CS dated February 12, 2026 issued by the Tax Department regarding invoices (in response to the Ho Chi Minh City Tax Department).

In principle, where a taxpayer discovers errors or omissions in a tax return dossier already submitted to the tax authority, the taxpayer is permitted to file a supplementary tax return within 10 years from the expiry date of the filing deadline for the tax period in which such errors or omissions occurred, provided that this is done before the tax authority or a competent authority announces a decision on tax inspection or audit, or where the dossier does not fall within the scope or period of inspection or audit stated in the inspection or audit decision.

For matters falling within the scope of inspection or audit, the taxpayer may submit supplementary explanatory documents in accordance with tax laws, inspection laws, and in compliance with the conclusions or regulations of competent specialized authorities relating to the determination of the taxpayer’s tax obligations.

6. Official Dispatch No. 1063/CT-CS dated February 12, 2026 issued by the Tax Department regarding tax policy (in response to Vietnam Satellite Digital Television Co., Ltd.).

6.1. Determination of tax obligations for VSTV Company

Regarding Corporate Income Tax (CIT):

The Company shall recognize revenue for the purpose of determining taxable income as the total proceeds from the sale of goods, processing activities, and provision of services, including subsidies, surcharges, and additional fees to which the enterprise is entitled, regardless of whether payment has been received.In cases where the Company pays remuneration to Apple in connection with its production and business activities, and such payment is supported by lawful invoices and documents in accordance with regulations, the Company may record such amount as deductible expenses when determining taxable income in accordance with Article 4 of Circular No. 96/2015/TT-BTC.

Regarding Value-Added Tax (VAT):

In case VSTV Company provides television services in Vietnam, the VAT taxable price shall be determined in accordance with the guidance set out in Article 7 of Circular No. 219/2013/TT-BTC dated December 31, 2013 of the Ministry of Finance.

Where VSTV provides television service packages to customers in Vietnam, VSTV shall issue invoices to the customers and declare and pay taxes in accordance with applicable regulations.

In cases where VSTV has an agreement with Apple authorizing Apple to collect television service package fees on its behalf, VSTV shall recognize the total amount collected by Apple as VSTV’s revenue, issue VAT invoices to customers, and declare and pay VAT in accordance with regulations.

From July 1, 2025, VSTV Company shall implement the VAT policy in accordance with the Law on Value-Added Tax No. 48/2024/QH15 and its guiding documents.

From October 1, 2025, VSTV Company shall implement the corporate income tax (CIT) policy in accordance with the Law on Corporate Income Tax No. 67/2025/QH15 and its guiding documents, applicable from the 2025 tax period.

6.2. Determination of tax obligations for the foreign supplier Apple

As stipulated in Circular No. 80/2021/TT-BTC dated September 29, 2021 of the Ministry of Finance and Circular No. 103/2014/TT-BTC dated August 6, 2014 of the Ministry of Finance.

In case the foreign supplier Apple derives income in Vietnam by providing fee collection services from customers purchasing K+ service packages of VSTV Company and receives a remuneration of 15% of the package selling price under the agreement with VSTV, Apple shall declare and pay VAT and corporate income tax applicable to foreign contractors under the percentage method calculated on revenue with respect to the amount received by Apple, in accordance with Article 77 of Circular No. 80/2021/TT-BTC and Articles 12 and 13 of Circular No. 103/2014/TT-BTC.

As stipulated in the Law on Value-Added Tax effective from July 1, 2025.

From July 1, 2025, foreign organizations without a permanent establishment in Vietnam that provide services and generate revenue in Vietnam shall be subject to value-added tax (VAT) at the rate of 10%.

As stipulated in the Law on Corporate Income Tax effective from October 1, 2025, applicable from the 2025 tax period.

From October 1, 2025, where Apple generates income in Vietnam, it shall pay corporate income tax (CIT) at the rate of 5% on taxable revenue arising in Vietnam, applicable from the 2025 tax period.

7. Official Dispatch No. 1067/CT-CS dated February 12, 2026 issued by the Tax Department regarding value-added tax (VAT) (in response to the Hanoi Tax Department).

For the new investment project of 883-ZN-838 Co., Ltd. that satisfies the conditions for investment incentive sectors, the project shall be entitled to corporate income tax (CIT) incentives for the duration stated in the initial Investment Registration Certificate (05 years).For the extension period stated in the amended Investment Registration Certificate, the project shall not be entitled to tax incentives for the extended duration of the investment project.

8. Official Dispatch No. 1068/CT-CS dated February 12, 2026 issued by the Tax Department regarding value-added tax (VAT) (in response to the Hanoi Tax Department).

For the period prior to July 1, 2025, where Bihaco Trading and Media Services Joint Stock Company uses services provided by Google by uploading content (videos) to the YouTube platform and receives 55% of the advertising revenue generated from ads displayed on each of the Company’s videos under the YouTube Monetization Agreement, the total revenue paid to the Company by Google (YouTube) shall be determined as advertising revenue and shall be declared for value-added tax (VAT) at the tax rate of 10%.

From July 1, 2025, the Hanoi Tax Department is requested to guide the Company to implement the provisions of the Law on Value-Added Tax No. 48/2025/QH15 and its guiding documents.

To get any original and English translated document above, just email to consulting@vietnammanual.com.

VIETNAM MANUAL Team, 28Feb2026

MONTHLY TAX NEWS: Jan2026

Catherine Lê Thị Ngọc Bé — Mon, 23 Mar 2026 08:25:34 +0000

Vietnam government has given the major changes in tax occurring within a short period. From Jan2026, beside the update on new tax laws and regulations, Vietnam Manual will issue monthly Tax News giving summary of Official Dispatches that Tax authority responds to questions of Tax Payers.

1. Official Dispatch No. 6307/CT-CS dated December 26, 2025, of the Tax Department, on tax collection regarding the sale of loan collateral (replying to the Civil Judgment Enforcement Office – Area 6).

Pursuant to the provisions of Article 200 of the Law on Credit Institutions No. 32/2024/QH15, the tax payment by the securing party and the transferee related to the transfer of collateral for such bad debts shall be carried out in accordance with the provisions of tax laws.

According to the Law on Corporate Income Tax (CIT), in cases where Bac Nam Environmental Engineering Co., Ltd. has loan collateral consisting of automobiles, and the Judgment Enforcement Agency auctions these assets to handle bad debts, the income from the transfer of such assets shall be determined in accordance with the guidance in Clause 6, Article 7 of Circular No. 78/2014/TT-BTC.

2. Official Dispatch No. 6394/CT-CS dated December 29, 2025, of the Tax Department, regarding VAT policies (replying to Quang Ngai Provincial Tax Department).

In cases where an investment project complies with the provisions of the law on investment, satisfies the conditions for tax credit and tax refund for investment projects as prescribed by the Law on VAT, and has submitted a VAT refund dossier for investment projects in accordance with the law on tax administration, it shall be entitled to a VAT refund for the investment project.

3.Official Dispatch No. 6461/CT-NVT dated December 31, 2025, of the Tax Department, providing guidance on the issuance of code-based e-invoices by tax authorities on a transaction-by-transaction basis (replying to Hai Phong City Tax Department).

In cases where a business is subject to the enforcement measure of ‘suspension of invoice usage,’ it may .still be issued code-based e-invoices by the tax authority on a transaction-by-transaction basis, provided all regulatory conditions are met

4. Official Dispatch No. 6471/CT-CS dated December 31, 2025, of the Tax Department, on determining Corporate Income Tax (CIT) incentives for high-tech agricultural enterprises (replying to Hung Yen Provincial Tax Department).

In the case of investment expansion (supplementary projects) by a high-tech agricultural enterprise, the CIT incentives shall only be granted based on the original investment project’s criteria for high-tech agricultural enterprises for the remaining duration.

In cases where an enterprise elects to receive incentives based on the criteria for high-tech agricultural enterprises, once the incentive period under these criteria expires, it shall not be permitted to switch to the 15% preferential tax rate applicable to agricultural product processing activities.

Starting from the 2025 tax period, implementation shall be carried out in accordance with the provisions of the Law on Corporate Income Tax No. 67/2025/QH15 dated June 14, 2025, and Decree No. 320/2025/ND-CP dated December 15, 2025, of the Government, providing detailed regulations on a number of Articles and measures for the implementation of the Law on Corporate Income Tax.

5. Official Dispatch No. 63/CT-CS dated January 07, 2026, of the Tax Department, on the declaration of PIT (Personal Income Tax) from tax-exempt wages and salaries according to Resolutions (replying to Da Nang City Tax Department).

In cases where organizations or individuals paying income are subject to monthly or quarterly PIT declarations, they are responsible for submitting PIT declaration dossiers and fully declaring the tax withheld during that period if tax withholding occurs. If no PIT withholding occurs during the month or quarter, the submission of monthly or quarterly PIT declaration dossiers is not required. Regarding tax finalization, organizations or individuals paying income from wages and salaries are responsible for filing PIT finalization returns, regardless of whether tax withholding has occurred or not.

Regarding the PIT exemption under Resolution No. 136/2024/QH15, the Tax Department is currently analyzing tax returns and supporting declarations according to the plan proposed by the Da Nang City Tax Department. The Da Nang City Tax Department is requested to proactively coordinate with relevant agencies to monitor and supervise the tax declaration and payment of taxpayers.

6. Official Dispatch No. 174/CT-CS dated January 13, 2026, issued by the Tax Department regarding the adjustment and offsetting of Corporate Income Tax (CIT) payable (Response to 28 Hung Phu Joint Stock Company)

In the event that 28 Hung Phu Joint Stock Company has been issued a decision on administrative tax penalties by the Ho Chi Minh City Tax Department, and the Company determines that such administrative decision is not in accordance with the law, the Company shall proceed with a complaint following the prescribed procedures sent to the competent authorities as regulated.

7. Official Dispatch No. 177/CT-CS dated January 13, 2026, issued by the Tax Department regarding Tax Incentives (Response to Khanh Hoa Provincial Tax Department)

In principle, if an enterprise is currently enjoying Corporate Income Tax (CIT) incentives and generates income that qualifies for CIT incentives based on investment location or specific sectors as prescribed by CIT legal documents, while simultaneously meeting the conditions for production, extraction, and refining of salt under Law No. 32/2013/QH13 and Circular No. 78/2014/TT-BTC, the enterprise is entitled to select the most favorable incentive scheme as regulated. Therefore:

+ In the event that an enterprise’s tax incentive period based on location-based conditions has expired, it shall not be permitted to switch to applying tax incentives for income derived from the production, extraction, and refining of salt.

+ In the event that an enterprise is still within the period of tax incentives based on sector-specific or location-specific conditions, it is entitled to select the most favorable incentive scheme (based on the sector, the location, or the enterprise’s income from the production, extraction, and refining of salt) for the remaining incentive period of the ongoing project.

From the 2025 tax period, implementation shall be carried out in accordance with Corporate Income Tax Law No. 67/2025/QH15 dated June 14, 2025, and Government Decree No. 320/2025/ND-CP dated December 15, 2025, on Corporate Income Tax.

8. Official Dispatch No. 202/CT-CS dated January 13, 2026, issued by the Tax Department regarding tax policies (Response to Lam Dong Provincial Tax Department)

Foreign contractors granted a Taxpayer Identification Number (TIN) to pay Corporate Income Tax (CIT) under the direct method (as a percentage of taxable revenue) shall declare and pay Foreign Contractor Tax (CIT on machinery, equipment, and accompanying services) based on the signed contractor agreement with the project owner, provided that all prescribed conditions are factually met.

9. Official Dispatch No. 224/CT-CS dated January 14, 2026, issued by the Tax Department regarding electronic invoices (Response to Ho Chi Minh City Tax Department).

In principle, invoices must be issued in continuous numerical order, from the lowest to the highest number, within the same invoice series and invoice template symbol. The e-invoice system operates according to these regulations, whereby for a single seller (associated with a specific Taxpayer Identification Number), only one unique invoice exists for any given invoice series and template symbol.

10. Official Dispatch No. 284/CT-DNL dated January 16, 2026, issued by the Tax Department regarding Value Added Tax (VAT) declaration for investment projects (Response to Vietnam Electricity – EVN)

Effective from July 1, 2025, EVN and its Project Management Boards (PMBs) shall perform VAT declarations in accordance with Government Decree No. 181/2025/ND-CP dated July 1, 2025. In the event that from July 1, 2025, EVN assigns PMBs located in the same province or city as EVN to directly perform VAT declaration, deduction, and refund on behalf of EVN, such PMBs are entitled to deduct and claim VAT refunds for the investment projects as regulated.

11. Official Dispatch No. 296/CT-CS dated January 19, 2026, issued by the Tax Department regarding tax policies (Response to Microsoft Regional Sales Pte Ltd)

In the event that the cloud and online services provided by Microsoft Regional Sales Pte Ltd (headquartered in Singapore) are identified as telecommunications services under Clause 11, Article 3 of the Law on Telecommunications, they shall be subject to a Value Added Tax (VAT) rate of 10% effective from July 1, 2025.

12. Official Dispatch No. 645/CT-CS dated January 23, 2026 issued by the Tax Department regarding communication and support for the collection and payment of business license fees from January 1, 2026 (in response to Provincial and Municipal Tax Departments).

From January 1, 2026, taxpayers are not required to pay the business license fee for 2026 and subsequent years. Accordingly, taxpayers are not required to submit business license fee declarations for 2026 and the following years.

Provincial and Municipal Tax Departments are requested to organize communication and dissemination of this content to taxpayers to ensure the consistent implementation of the declaration and payment of the business license fee from 2026 onward. They are also required to review and apply tax administration measures in accordance with regulations to collect fully and accurately any business license fees payable for 2025 and prior years into the state budget.

13. Official Dispatch No. 692/CT-CS dated January 27, 2026 issued by the Tax Department regarding value-added tax (VAT) policy (in response to the Ninh Bình Provincial Tax Department).

From July 1, 2025, if cement and clinker products are not included in the Lists (Appendix I and Appendix II) issued together with Decree No. 181/2025/ND-CP, exported cement and clinker products shall be subject to value-added tax (VAT).Business establishments that have registered to pay VAT under the credit (deduction) method and have investment projects in accordance with the law on investment (including investment projects divided into multiple phases or multiple components), which are still in the investment phase and have uncredited input VAT of VND 300 million or more, shall be eligible for consideration of VAT refund in accordance with Law No. 48/2024/QH15 and Decree No. 181/2025/ND-CP.

In cases where a business establishment has an investment project that was initiated before July 1, 2025 and is still in the investment phase from the effective date of Decree No. 181/2025/ND-CP, the VAT refund provisions for investment projects as stipulated in Article 30 of Decree No. 181/2025/ND-CP shall apply.

To get any original and English translated document above, just email to consulting@vietnammanual.com.

VIETNAM MANUAL Team, 31JAN2026

New Tax and Accounting Policies Effective from Jan 1, 2026 (PART 3: PIT Law)

Catherine Lê Thị Ngọc Bé — Sat, 21 Mar 2026 18:44:58 +0000

Vietnam has implemented significant tax and accounting reforms and given the major changes occurring within a short period. The Personal Income Tax Law 109/2025/QH15 (Law 109) was approved by the National Assembly on 10 Dec 2025. The provisions relating to business income and employment income for tax residents apply for the 2026 tax year meanwhile the rest will take effect from 1Jul2026.

Below are Key changes in employment income that come into effect on 1Jan2026:

1. Progressive brackets for tax residents: The number of brackets has been reduced from seven to five meanwhile the highest rate of 35% is applied to monthly income exceeding VND100 million (previously VND80 million).

Bracket	Monthly assessable income	Tax Rate (%)
1	Up to VND10 million	5
2	> VND10 million–VND30 million	10
3	> VND30 million–VND60 million	20
4	> VND60 million–VND100 million	30
5	Over VND100 million	35

2. Increase in Family Relief:

Personal relief from VND11 million to VND15.5 million per month
Dependent relief from VND4.4 million to VND6.2 million per month for each qualified one.

3. Additional allowable deductions:

Qualifying expenses for healthcare, education, and training for taxpayers and dependents
Contributions to supplementary pension insurance in accordance with the social insurance law
Life insurance premiums, subject to limits set by the Government

4. Expanded personal income tax (PIT) exemptions: Income from night shift wages, overtime, and unused paid leave as prescribed by law are now fully exempt from PIT.

To get the original and English translated PIT Law 109, just email to consulting@vietnammanual.com.

VIETNAM MANUAL TEAM, 27Dec2025

New Tax and Accounting Policies Effective from Jan 1, 2026 (PART 2: VAT Law)

Catherine Lê Thị Ngọc Bé — Sat, 21 Mar 2026 17:30:27 +0000

Vietnam has implemented significant tax and accounting reforms to address previously unresolved concerns, thereby incentivizing further investment and doing business in Vietnam. This Article outlines changes in Law No. 149/2025/QH15 (called the VAT Law 2025) effective from 1 January 2026.

There are 3 key changes under the VAT Law 2025 including:

1.Items not required to declare and pay VAT

Businesses that purchase products from cultivated crops, planted forests, livestock farming, aquaculture, or wild-caught fisheries that have not been processed into other products, or have only undergone simple preliminary processing, and sell them to other businesses, are not required to declare, calculate, and pay VAT.

2 New annual revenue threshold for individual and household businesses

Vietnam’s amended VAT Law regulates the annual revenue threshold for business individuals and households exempt from VAT from VND 200 million to VND 500 million.

3. Regulations on VAT refunds

Under the VAT Law 2024, an additional condition for VAT refunds was introduced, requiring sellers to have fulfilled their VAT declaration and payment obligations for input invoices on which buyers seek a refund. This measure point imposes significant administrative burdens on businesses and the VAT Law 2025 abolishes this requirement.

Among 3 amendments above, the first and third ones can have impact on Foreign invested enterprises. To get the original and English translated the VAT Laws 2024 and 2025, just email to consulting@vietnammanual.com.

VIETNAM MANUAL TEAM, 25Dec2025

New Tax and Accounting Policies Effective from Jan 1, 2026 (PART 1: Accounting Regime)

Catherine Lê Thị Ngọc Bé — Wed, 18 Mar 2026 18:17:39 +0000

Vietnam has implemented significant tax and accounting reforms. On 27Oct2025, the Ministry of Finance issued Circular 99/2025/TT-BTC on the enterprise accounting regime, replacing Circular 200/2014/TT-BTC and its related amendments. In general, the Circular 99 effective from 1Jan2026 aligns more closely with international standards (IFRS), supports a principle-based approach. This shift from compliance by instruction to compliance by principle encourages a mindset closer to IFRS while maintaining the foundations of Vietnamese Accounting Standards (VAS).

Below are Key Changes in the new Regulation applying to fiscal years beginning on or after 1Jan2026.

More Flexible in Accounting Systems and Documentation

Compared with the rigid structure under Circular 200, Circular 99 gives enterprises more flexibility in how they design and manage their accounting documentation and systems. They may amend or supplement account titles, numbers, and structures, provided they do not alter the substance of the financial statements. Also enterprises may design their own forms of vouchers, e-vouchers, and accounting books suited to their operations, as long as they retain the basic required contents and ensure authenticity, verifiability, and traceability.

The amendments and self-designs must be supported by the issued internal accounting regulations of their own enterprises.

Clearer Guidance on Consolidation Accounting

While Circular 200 required consolidation for parent–subsidiary groups, Circular 99 extends this requirement to dependent and related units. From 2026, enterprises with subsidiaries, dependent or related units are now required to prepare consolidated financial statements and eliminate internal transactions.

Enterprises can choose functional Accounting Currency

The default currency remains Dong (VND). Enterprises primarily operating in foreign currencies for receipts, payments, pricing, or costs, may designate a foreign currency as their functional currency.

Financial statements and disclosures

Circular 99 standardizes the names of financial statements (e.g., ‘Balance Sheet’ → ‘Statement of Financial Position) and requires applying the retroactive principle when changes are made to the functional currency. Under the new regulation, Set of Financial Statements includes Statement of Financial Position, Statement of Profit and Loss (P&L); Cash Flow Statement and emphases on the notes with new disclosure areas include:

Basis for selecting accounting policy (basis of preparation, currency, revenue recognition principles, expense classification (by nature or function)).
Impacts of currency changes.
Internal transactions and risk exposures.
Consolidation methods for multi-entity groups.
For enterprises with special characteristics (mergers/splits/restructuring) the Circular provides more detailed guidance.

The detailed disclosures on internal transactions, currency impacts, and consolidation methods are expected to more transparency to investors, lenders, regulators, and other stakeholders.

Internal Accounting Governance plays an important role.

Circular 99 requires businesses to take ownership of their internal accounting governance by establishing clear internal rules and control procedures, instead of relying on rigid templates formed as in Circular 200.

Accounting now intersects with compliance and decision-making. Vietnam Manual with strong Team of Accounting and Compliance, we can assist your enterprises to setup and run Internal Governance and Accounting System effectively under the new Accounting Regime. To get the original and English translated Circular 99/2025/TT-BTC, just email to consulting@vietnammanual.com.

Consultancy for Doing Business in Vietnam

Why Foreign Investors Need More Than a License

5 Things Foreign Investors Should Know Before Setting Up a Company in Vietnam

VIETNAM MANUAL – Your Partner for Doing Business in Vietnam

Vietnam Raises Statutory Basic Salary From July 2026

New Points in CIT Applying for Fiscal Year 2025

To get the original and English translated documents of CIT Law 2025 No. 67/2025/QH15, Decree No. 320/2025/ND-CP, Circular No. 20/2026/TT-BTC and tax authority’s guidance on mandatory reports for Year-end 2025, just email to consulting@vietnammanual.com.

Vietnam Manual Team, 20Mar2025

MONTHLY TAX NEWS: Feb2026

To get any original and English translated document above, just email to consulting@vietnammanual.com.

VIETNAM MANUAL Team, 28Feb2026

MONTHLY TAX NEWS: Jan2026

Vietnam government has given the major changes in tax occurring within a short period. From Jan2026, beside the update on new tax laws and regulations, Vietnam Manual will issue monthly Tax News giving summary of Official Dispatches that Tax authority responds to questions of Tax Payers.

To get any original and English translated document above, just email to consulting@vietnammanual.com.

VIETNAM MANUAL Team, 31JAN2026

New Tax and Accounting Policies Effective from Jan 1, 2026 (PART 3: PIT Law)

VIETNAM MANUAL TEAM, 27Dec2025

New Tax and Accounting Policies Effective from Jan 1, 2026 (PART 2: VAT Law)

VIETNAM MANUAL TEAM, 25Dec2025

New Tax and Accounting Policies Effective from Jan 1, 2026 (PART 1: Accounting Regime)

VIETNAM MANUAL TEAM, 20Dec2025