What the investor needs to understand
- The enterprise code on the ERC is also the tax code, but tax set-up does not end there. The items below must be in place before the first invoice is issued.
- Rates, thresholds and incentives are intentionally not stated here. Confirm and complete for the client's case with counsel.
Key items
| Topic | What the investor needs to know | When it matters | Authority |
|---|---|---|---|
| Initial tax registration | Confirm tax authority in charge; register bank accounts, accounting regime, fiscal year, depreciation method; obtain e-tax account and digital signature | Right after ERC | Tax authority |
| E-invoice | Electronic invoices are mandatory; register use with the tax authority through an approved provider before the first sale | Before first sale | Tax authority |
| Accounting system and chief accountant | Vietnamese Accounting Standards (or permitted alternative); VND as accounting currency unless conditions for foreign currency are met; appoint chief accountant or engage a licensed service provider | Right after ERC | Tax authority; Ministry of Finance |
| Annual audit | Financial statements of foreign-invested enterprises must be audited by an independent auditor licensed in Vietnam | Annually | Confirm with counsel |
| Corporate income tax and incentives | Incentives depend on sector, location and project scale and must be claimed correctly; global minimum tax may neutralise incentives for large groups | Structuring; annually | Tax authority |
| Value added tax | Method, rates, refund eligibility for investment-phase input VAT and exporters | From first transaction | Tax authority |
| Foreign contractor tax | Withholding on payments to offshore suppliers of services, royalties, interest | Each offshore payment | Tax authority |
| Transfer pricing | Related-party transactions: arm's-length pricing, annual disclosure forms and documentation; interest-deductibility cap | Annually | Tax authority |
| Tax on capital / share transfers | Seller's tax and filing on transfers of shares / capital in Vietnam companies, including indirect transfers (confirm with counsel). | M&A | Tax authority |
| Customs | Customs registration, HS classification, import duty exemptions for fixed assets of incentivised projects, export processing enterprise status | Before first import | Customs authority |
| Periodic investment and statistical reporting | Quarterly / annual investment reports on the national investment information system; statistics and labour reports | Recurring | Investment registration authority; statistics office |
Common pitfalls
- Issuing a paper or foreign-format invoice.
- No chief accountant arrangement.
- Claiming incentives without meeting conditions in the IRC.
- Forgetting investment reports: a common basis for administrative fines.
Legal status reviewed as of 18 September 2026. Confirm current rules with counsel before acting.