While there is no mandatory requirement to appoint a fiscal representative in Vietnam, foreign companies use such a service to ease their relationship with the authorities.
The tax agent is usually hired to handle the VAT registration procedure, however, in Vietnam, this service can be extended to other accounting-related procedures too. Find out from our lawyers in Vietnam when and how you can use such a solution.
Table of Contents
Fiscal representation implies complying with the administrative standards necessary for international trade, especially related to the payment of the value added tax. The VAT, in addition to special taxes on very specific products, is disclosed differently based on the country of import or export. Just like in many foreign countries, in Vietnam also, the VAT is applicable to a large number of commerce circumstances. Therefore, businesses must use fiscal representation services for this purpose.
A Vietnamese fiscal representative will act as a liaison officer for foreign natural or legal persons and the local tax authorities. Among his/her duties are:
Feel free to address our accountant in Vietnam for such services.
The fiscal representative is usually an accountant or accounting firm accredited by the General Department of Taxation. In most cases, such an agent’s service is requested by foreign companies operating through branches or subsidiaries in Vietnam. However, local companies are also starting to use such solutions to ensure compliance with local legislation.
Sole traders, including foreign citizens holding Vietnamese residency and doing business here, can also use such a service, despite having small operations.
You can rely on our law firm in Vietnam if you want to set up a business here, and on our accountant for fiscal representation.
If you are interested in appointing a fiscal representative, here is how we can help you:
In addition, we can also handle more specific accounting regulations, such as the special consumption tax and the environmental protection taxes. We can also advise on how to apply for tax incentives, reductions, and exemptions. However, we remind you that the main services covered by a fiscal representative in Vietnam are related to the VAT.
The value added tax is one of the most important levies in the world, as it applies in most countries on the globe. Vietnam is similar to many states from several points of view, including e-invoicing and filing returns for this tax.
Here are the most important highlights of the VAT in Vietnam:
Our lawyers can also offer support in matters related to immigration to Vietnam to foreign investors.
If you need fiscal representation services in Vietnam, please contact us.