DOING BUSINESS IN VIETNAM

THE ANNUAL LICENSING FEES

LICENSING FEE PAYERS

The licensing fee payers are the organizations and individuals that operate their trade/production of goods and services:

1. The enterprises which are established under the regulations of law.
2. The organizations which are established under the Law on Cooperatives.
3. The public service providers which are established under the regulations of law.
4. The business organizations of the political organizations, the social – political organizations, the occupational – social organizations and people’s armed units.
5. Other organizations which have their trade/production activities.
6. The branches, the representative offices of the organizations

RATE OF LICENSING FEES

Based on registered charter capital, the rate of licensing fees for the organizations having the production and business of goods and services is as follows:

1. The organizations with charter capital and investment capital over 10 billion dong: 3,000,000 dong/year;
2. The organizations with charter capital and investment capital of less than 10 billion dong: 2,000,000 dong/year;
3. The branches, representative offices, business location, public service providers and other business organizations: 1,000,000 dong/year;

DECLARATION AND PAYMENT OF LICENSING FEES

1. The declaration of licensing fees is done once when the fee payers newly start their business activities no later than the last day of the month of commencement of business operation;
2. Where the fee payers newly establish their business facilities but not yet come into operation, they have to make declaration of licensing fees within 30 days from the date of issue of certificate of business registration or certificate of investment registration and certificate of tax registration.
3. The time limit for payment of licensing fees is no later than the 30th date of January of each year.

Read more:

• Doing business in Vietnam: Business compliance advisory services
• Doing business in Vietnam: Due diligence
• Company in Vietnam: Lawful cash flow and required compliances
• Doing business in Vietnam: Capital contribution for establishment a company
• Doing business in Vietnam: internal salary and wages policy
• Taxable incomes from wages and remunerations
• Important notices regarding the methods of personal income tax declaration in Vietnam
• Personal income tax (PIT): annual pit settlement key notes
• Investment in Vietnam: incentives on corporate income tax (CIT)
• Tax compliance procedures for year-end: exclusive notices for CEO