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Tax accounting

WHAT YOU NEED TO KNOW ABOUT TAX ACCOUNTING

According to the current Vietnamese law, when registering to establish a business, we will have to pay taxes, taxes and tax rates depending on the type of business and the actual arising in the operation of the enterprise.

Current taxes such as VAT, corporate income tax, personal income tax,….

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Value-added tax (VAT)

VAT stands for "Value Added Tax" – a term commonly known as value-added tax or VAT. VAT is an indirect tax collected and calculated on the added value of goods and services… arising from the production process, circulation until reaching the consumer.

Corporate Income Tax (CIT)

CIT is an acronym for Corporate Incomes Tax, known in the main market as corporate income tax and commonly used in the tax payment calculation section, used on a lot in corporate financial statements.

WHAT DOES CIT MEAN? WHAT YOU NEED TO KNOW ABOUT CORPORATE INCOME TAX 

  1. Personal income tax

Personal income tax is defined in the most understandable way is the amount of tax that the income earner must deduct part of his/her salary or other sources of income from outside to pay into the state budget after the deductions are calculated.

Accordingly, it is clearly visible the principle of fairness and the ability to pay taxes from the way of understanding what PIT is. Individuals who have low incomes and are only enough to feed themselves and their families at the necessary level are not taxed personally. Therefore, paying personal taxes is also seen as a way to reduce the disparity between the current population classes.

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