Guide to Tax Procedures and Initial Post-Incorporation Procedures for Enterprises in Vietnam

1. Guide to Tax Procedures and Initial Post-Incorporation Procedures for Enterprises in Vietnam

1.1. Initial tax declaration

Tax code: the enterprise code on the Enterprise Registration Certificate is the enterprise’s tax code (Article 29, Law on Enterprises 2020). After receiving the certificate, the enterprise should promptly complete its start-up formalities, including the electronic tax account, digital signature and e-invoices.

1.2. Required documents include:

• Registration form for accounting system and invoice issuance method;
• Appointment decisions for the chief accountant and legal representative/manager;
• Fixed asset depreciation method (if any);
• Copy of the Business Registration Certificate;
• Power of attorney (if applicable).

1.3. Registration of the electronic tax system

1.4. Registration for electronic invoice usage

After issuing an invoice, the enterprise must transmit the invoice data to the tax authority as required (generally by the next working day); enterprises in specific sectors such as postal services, telecommunications and banking submit invoice data summaries monthly or quarterly.

II. Types of Taxes and Applicable Payment Standards

2.1. Value Added Tax (VAT – “GTGT”)

• Declaration methods:

  • Credit (deduction) method; or
  • Direct calculation method.
• Declaration cycle:
  • Monthly declaration: Applicable to enterprises with revenue exceeding VND 50 billion in the preceding year.
  • Quarterly declaration: Enterprises with revenue not exceeding VND 50 billion in the preceding year, and newly established enterprises, may opt for quarterly declaration.
• Standard tax rate: Applied in accordance with current applicable laws and regulations.

2.2. Corporate Income Tax (CIT – “TNDN”)

1. Quarterly provisional payment, with annual finalization at the end of the fiscal year.
2. Common tax rate:
   Provisional tax payable = Taxable income × applicable rate. The standard rate is 20%; enterprises with prior-year revenue not exceeding VND 3 billion pay 15%, and those with revenue from VND 3 billion to VND 50 billion pay 17% (restrictions apply to related enterprises).

2.3. Personal Income Tax (PIT – “TNCN”)

1. Applicable to resident individuals earning taxable income from employment.
2. Declaration on a monthly or quarterly basis, depending on the payroll scale.

2.4. Foreign Contractor Tax

Applicable when the enterprise signs contracts with foreign parties for the provision of services or goods.

III. Types of Accounts Required to Be Opened

3.1. Bank Account

Used for business transactions, salary payments, capital contribution receipt, and tax payments.

3.2. Electronic Tax Transaction Account

1. Registration at: https://dichvucong.gdt.gov.vn/tthc/homelogin
2. Binding with a digital signature for online tax filing and tax payment.

3.3. Foreign Investment Capital Account (formerly DICA)

1. Required for enterprises established by foreign investors or more than 50% foreign-owned; it may be opened in foreign currency or VND (Circular No. 38/2026/TT-NHNN, effective 18 August 2026).
2. Used to receive capital contributions, remit profits, etc.

IV. Tax Declaration Deadlines

V. Initial Steps After Company Establishment

4.1. Confirm tax information (the enterprise code is the tax code).
4.2. Open a corporate bank account.
4.3. Purchase a digital signature and register an electronic tax account.
4.4. Declare applicable taxes based on actual operations.
4.5. Register for and issue electronic invoices.
4.6. Submit tax declarations and pay taxes on time in accordance with regulations.