Depending on type of enterprises, but generally, an operating enterprise must conduct procedures to pay taxes according to the provision of law.
These type of taxes can be mentioned as the follow:
- License Tax;
- Enterprise Income Tax is applicable to goods and services production and business organizations which have taxable income under the provision of Law on enterprise income tax;
- Value-added Tax is a tax imposed on the added value of goods or services arising in the process from production, circulation to consumption;
- Excise Tax is applicable to particular goods and services listed in Law on excise tax
- Import duty and Export duty is applicable to goods imported or exported through Vietnam’s border-gates or borders; goods sold, purchased or exchanged by border residents and other sold, purchased or exchanged goods, which are considered import or export goods;
- Personal income Tax is applicable to residents who earn taxable incomes inside and outside the Vietnamese territory and non-residents who earn taxable incomes inside the Vietnamese territory;
Tax calculation of different type of taxes is not the same. Namely, tax bases of type of taxes is different.
For license Tax, tax bases is registered capital of enterprise registration certificate.
For Enterprise Income Tax, tax bases include taxed income and tax rate.
For Value added Tax, tax bases consist of taxable price and tax rate.
For Excise Tax, tax base include taxed price of taxable goods or services and tax rate.
For import Tax and Export Tax, the bases for calculating import tax and export tax are the unit volume of each actually imported or exported goods item, inscribed in the customs declarations, tax calculation prices, and tax rates in percentage (%); for goods items subject to absolute tax, the tax calculation bases are the unit volume of each actually imported or exported goods item inscribed in the customs declarations, and the absolute tax rate provided for a goods unit.
For personal income tax,
According to Law on tax administration, taxpayers shall calculate by themselves payable tax amounts, except when the tax calculation is conducted by tax administration agencies according to the Government’s regulations. However, it can be said that tax calculation is a complicated and time – consuming task. The complication shows that tax accounting requires taxpayers to have professional knowledge and skills so that they can update relating factors in accounting tax as the requirement of law. Besides, accounting tax also requires taxpayers to be careful, detail to ensure tax obligations toward state agencies. Otherwise, enterprise will be handled according to the provisions of law. Moreover, the practice shows that both law on tax and relating tax regulations of Vietnam have not the consistency and stability that leading to difficulties for enterprises to update and flexibly apply tax policy, especially small and medium enterprise. As a consequence, infringements on tax will occurs and then, it will effects to the business operation of enterprises.
One of the best way for the above – mentioned enterprises is to outsource tax accounting service. With a team of specialists full of professional and practical skills, tax accounting service companies provide clients services related tax with many advantages. Outsourcing accounting tax have proved its advantages as the follow
- Help clients save time and money;
- Help clients ensure safety in business and conducting the obligation toward state agencies;
- Help clients focus on core business;
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