This Tax Update publication for November 2016 looks at a selection of Decrees, Circulars and Official Letters which have been released in recent weeks and which we believe will be of interest to readers.

DECREE 139 – BUSINESS LICENSE FEE CHANGES

The Government of Vietnam released Decree 139/2016/ND-CP (“Decree 139”) on 4 October 2016 concerning Business License Fees (“BLF”) for enterprises/businesses operating in Vietnam.

In this Decree, the previous terminology of “Business License Tax” has been replaced by “Business License Fee”. No longer treated as separate tax, the annual fee paid at the start of the financial year is similar in practice to annual company registration fees that are common place in other countries.

Decree 139 provides new BLF rates, which correspond to the charter capital or investment capital of each enterprise.

The BLF applicable to individuals and household businesses will vary based upon their revenue, ranging from VND 300,000 to VND 1,000,000 per annum.

For more information, click Vietnam Tax Update November 2016 – Domicile.


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