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- HM&P: Vietnam International Law Firm
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Tax
During the process of enterprise dissolution, tax finalization and the fulfillment of tax obligations are mandatory and decisive steps. The enterprise must prepare and submit the tax finalization dossier to the competent tax authority within the statutory deadline, while fully discharging its obligations relating to tax declarations, tax payments, invoices, and other relevant liabilities. Only upon confirmation from the tax authority that all tax obligations have been duly fulfilled may the enterprise proceed with the dissolution procedures at the business registration authority.
Dissolution of an enterprise is the last step to close the entire business operation process, and at the same time terminate the legal existence of the enterprise. In this process, the termination of the tax identification number and the completion of tax finalization are not only mandatory procedures but also a condition for completing the dissolution dossier at the business registration office. However, the practice of implementation at local tax authorities shows that there are still technical and procedural "bottlenecks" at the tax stage, causing the dissolution process to be prolonged and the plan to terminate the operation of the enterprise is significantly affected.
The current Law on Corporate Income Tax ("Law on CIT") is being considered and amended by the National Assembly to meet the actual requirements of the domestic tax system, and at the same time be in line with the trend of international integration. In particular, this amendment takes place in the context that Vietnam has passed a Resolution on the application of additional corporate income tax under the global tax base erosion prevention mechanism, effective from January 1, 2024. The changes in the revised Draft Law on CIT not only directly impact the operations of domestic and foreign enterprises but also reshape tax policies to be more suitable for the current digital economy context. In this article, we will mention some notable expected adjustments in the amended Draft Law on CIT to help businesses proactively grasp the changes, to make appropriate adjustments to their business strategies in the coming time.
The recent official announcement of tax policies by the United States for a series of countries importing into the United States has significantly affected the global supply chain, including Vietnam. As a country that imports the majority of pharmaceuticals from the United States, European countries, ... Vietnam is at risk of being impacted on both exports and imports as input prices are pushed up, while regulations on import duties, documents of origin and tariff preferences are increasingly tightly managed. Not outside the reference system, the pharmaceutical industry is also one of the industries strongly affected by the fluctuating tariff policies from countries. In that context, compliance with regulations related to pharmaceutical import taxes is a mandatory requirement for businesses to maintain stable operations, avoid tax arrears or supply chain disruptions. So what are the points that businesses need to pay special attention to when importing pharmaceuticals into Vietnam in the current volatile period?
In the context of promoting the private economic sector and promoting the reform of the tax system, the termination of the form of flat tax for business households is a key content, attracting attention from state management agencies as well as the business community. Presumptive tax according to the Law on Tax Administration 2019 (amended and supplemented in 2020) is a method of determining tax liabilities based on presumptive turnover fixed by tax authorities, applicable to small-scale business households that do not have an adequate accounting system. Practice shows that this method still has many limitations, affecting publicity, transparency and fairness in the business environment.
Recently, the US government has shown strong moves to protect domestic production through a series of executive orders issued to strengthen the tariff barriers of this trading country. On April 3, the President of the United States announced a list of countries subject to U.S. reciprocal tariffs and applicable tariffs, which are seen as a retaliatory measure in response to the tariff policies of trading partners. Previously, Vietnam made necessary preparations to respond to the US tariff decree through a Decree amending and supplementing the preferential import tariff rates of a number of items in the Preferential Import Tariff according to the List of taxable items issued together with the Government's Decree No. 26/2023/ND-CP dated May 31, 2023 ("Decree amending and supplementing the Addition").
Stepped up to protect the U.S. domestic manufacturing industry, these investigations could lead to retroactive tariffs, import bans, and the collapse of Vietnam's market share in the world's largest market. With an estimated Vietnam-US trade surplus of $110 billion in 2024, key industries such as steel, textiles, fisheries, and furniture are at risk of being targeted by the U.S. Department of Commerce and the U.S. International Trade Commission. In the face of this complicated legal problem, how do Vietnamese businesses need to respond to maintain their position in the US market? This article will analyze the challenges of anti-dumping/anti-subsidy and solutions of businesses from a legal perspective.
There is a rush of information from the US government to impose tariffs on goods of countries importing into this country. The tax rate is increasing every time, putting more pressure and worry on businesses. Vietnamese businesses are not out of this worrying "spiral". However, in the face of a wave of evil, it is always a wise choice to calm down to find the right countermeasures.
The changes in US tariff and trade policies, especially the increase in tariff and trade remedies since the beginning of President Trump's 2nd term, have put Vietnamese businesses in an urgent need to adjust their business strategies and find solutions. The new direction is both practical and at the same time must be effective so that Vietnamese businesses can calmly respond and overcome the fierce wave called "US tariffs".
The information of increasing import tariffs has been rushing and turning around continuously since US President Donald Trump was elected to a second term has put Vietnamese businesses in the "high alert zone". The Trump administration's implementation of a series of new tariff policies to protect the domestic economy, reduce the trade deficit and boost domestic production has made the already "hard-to-eat" U.S. market even more difficult.
Decree No. 20/2025/ND-CP ("Decree 20") was promulgated on February 10, 2025, and will take effect on March 27, 2025, to address these shortcomings. However, whether the amendments truly meet the demands of modern tax administration and create a more favorable environment for businesses remains to be verified.
In practice, many enterprises remain uncertain and encounter various difficulties when handling tax issues related to capital transfers. This article will clarify the tax obligations and requirements that businesses engaging in capital transfers must take into account, including applicable taxes, declaration obligations, payable tax amounts, potential legal risks, and tax incentive policies.
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