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Businessman should be interested in taxes in Vietnam

Business License Tax Business License tax is an annual fee on the establishment of production and business activities of all economic sectors. All organizations and individuals engaged in business are liable to pay the license tax. The purpose of the license tax is to inventory, control and classify of production and business establishments. Therefore, the New Company is also liable to pay tax.
Corporate Income Tax
The standard tax rate imposed under the Corporate Income Tax Law (CIT) applicable to the enterprises is currently 23%.
Further tax imposed on the enterprises investing in geographical areas with socio-economic difficulties, economic zones or hi-tech parks or in encouraged investment sectors are the Preferential CIT rates of 10% and 20% for a certain period of time, which may vary from 10 years to 15 years to all project life.  
The principal office of the enterprise shall decide the place of tax payment. If the enterprise operates at different locations then the payable tax amount shall be calculated based on the ratio of expenses between the place where the production establishment is located and the place where it is headquartered.
The enterprise is required to file provisional quarterly CIT returns and the taxes are paid by the 30th day of the first month of the subsequent quarter. Similarly, the final CIT returns are paid annually with the annual CIT return filed and submitted within 90 days following the end of the fiscal year. If there is any outstanding tax payable for the year then the same should be paid while submitting the annual CIT return. The default CIT tax year is the calendar year but the enterprise can have different tax and accounting years with an approval from the Ministry of Finance.
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