Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
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Washington, DC
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The study is in two parts, part one
covering the various policy aspects of Corporate Income Tax
(CIT) and includes issues such as expenses and deductions to
determine the tax base, transfer pricing, thin
capitalization, taxation of special entities, and tax
incentives. All this is done in the backdrop of
international experience of corporate income taxes applied
globally. Finally, alternatives for rate rationalization and
their impact on CIT revenues using a forecasting model are
examined. The existing provisions of the law are referenced
in this part of the study as well, and further scope for
reform discussed as necessary. Part two of the study
presents a similar analysis of value added tax as well as
forecasting of VAT revenues. This chapter examines the
present rate structure including zero-rating, exemptions and
exclusions from VAT, and VAT refunds. Taxation of some
special sectors such as agriculture, real estate and exports
is also analyzed. All this is again done in the milieu of
international experience of value added taxes in
Organization for Economic Co-operation and Development
(OECD) countries, Brazil, Russia, India, China and South
Africa (BRICS) countries and the countries of ASEAN so as to
get a practical and realistic picture. Finally, a revenue
forecasting model for VAT is presented with a guideline for
estimating VAT threshold for exempting small traders. All
the chapters make reference to the present provisions in law
and also the way forward to further strengthen and
streamline the VAT.
Palabras clave
ACCOUNTANT, ACCOUNTING, AGRICULTURAL PRODUCTS, ALTERNATIVE MINIMUM TAX, AMORTIZATION, BASE RATES, BENEFICIARIES, BORROWING COSTS, BROKERAGE, BUSINESS ENVIRONMENT, BUSINESS TAX, CAPITAL GAIN, CAPITAL GAINS, CAPITAL GAINS INCOME, CAPITAL GAINS TAX, CAPITALIZATION, CARBON EMISSION, CASH PAYMENT, CFC, CHARITABLE CONTRIBUTIONS, COLLATERAL, COMMERCIAL BASIS, COMPLIANCE COSTS, CONCESSIONARY TAX, CONSUMER GOODS, CONSUMER PRICE INDEX, CONSUMPTION TAX, CONTRIBUTED CAPITAL, COPYRIGHT CLEARANCE, COPYRIGHT CLEARANCE CENTER, CORPORATE INCOME TAX, CORPORATE INCOME TAXES, CORPORATE TAX, CORPORATE TAX RATES, CORPORATION TAX, COST OF CAPITAL, CREDIT CARDS, CREDIT INSTITUTIONS, CREDITORS, DEBT, DEBTS, DEDUCTIONS, DEPOSITS, DEPRECIATION, DERIVATIVES, DEVELOPMENT BANK, DISPOSABLE INCOME, DIVIDENDS, DOMESTIC ECONOMY, DOMESTIC INVESTORS, DOUBLE TAXATION, ECONOMIC EFFICIENCY, EFFECTIVE TAX RATES, EMPLOYEE BENEFIT, EQUIPMENT, EQUITY CAPITAL, EXPENDITURE, EXPORT, EXPORTERS, EXPORTS, FAIR MARKET VALUE, FEDERAL TAXES, FINANCIAL DEVELOPMENT, FINANCIAL INSTITUTIONS, FINANCIAL SECURITY, FINANCIAL SERVICES, FINANCIAL STATEMENTS, FIXED ASSET, FIXED ASSETS, FOREIGN COMPANIES, FOREIGN COMPANY, FOREIGN CURRENCY, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN INVESTMENT, FRAUD, FREE TRADE, GOVERNMENT REVENUES, GROSS DOMESTIC PRODUCT, HOUSEHOLD BUSINESSES, HUMAN DEVELOPMENT, INCOME GROUP, INCOME INEQUALITY, INCOME TAX RATE, INCOMES, INFLATION, INPUT TAX, INSURANCE, INTELLECTUAL PROPERTY, INTEREST INCOME, INTEREST PAYMENTS, INTEREST RATE, INTERNAL REVENUE, INTERNATIONAL BANK, INTERNATIONAL BEST PRACTICE, INTERNATIONAL STANDARD, INVENTORY, INVESTING, INVESTMENT ACTIVITIES, INVESTMENT PROJECTS, JOINT VENTURE, JUDGMENT, JURISDICTIONS, LAND VALUE, LIMITED LIABILITY, LIMITED LIABILITY COMPANIES, LIQUIDATION, LLC, LOAN, LONG-TERM INVESTMENTS, MARKET PRICE, MICROFINANCE, MICROFINANCE INSTITUTIONS, MONETARY FUND, MULTINATIONAL COMPANIES, NATURAL DISASTER, NATURAL DISASTERS, NATURAL RESOURCE, NATURAL RESOURCES, NON-PERFORMING LOANS, OUTPUT, PAYMENT OF INTEREST, PAYMENT OF INTERESTS, PENSION, PENSION FUND, PERSONAL INCOME, PERSONAL INCOME TAX, POINT OF SALE, PRICE SUBSIDIES, PROFIT ORGANIZATIONS, PUBLIC POLICY, REAL ESTATE, REAL PROPERTY, RENEWABLE ENERGY, RENTS, RESERVE, RESERVE FUND, RESERVES, SECURITIES, SELLING PRICE, SINGLE TAX, STATE BANK, STATE ENTERPRISES, STATE OWNED ENTERPRISE, STATE OWNED ENTERPRISES, STATEMENT, STATUTORY TAX, STATUTORY TAX RATES, TAX ADMINISTRATION, TAX ASSESSMENT, TAX BASE, TAX CODE, TAX COMPLIANCE, TAX CREDIT, TAX CREDITS, TAX CUTS, TAX DEDUCTIBLE, TAX EVASION, TAX EXEMPTION, TAX EXEMPTIONS, TAX EXPENDITURES, TAX INCENTIVE, TAX INCENTIVES, TAX LAW, TAX LAWS, TAX LIABILITY, TAX PAYMENTS, TAX PLANNING, TAX POLICY, TAX PREFERENCES, TAX RATE, TAX RATES, TAX REFORM, TAX REGIME, TAX REGIMES, TAX RESEARCH, TAX RETURN, TAX RETURNS, TAX REVENUE, TAX REVENUES, TAX STRUCTURE, TAX STRUCTURES, TAX SYSTEM, TAX TREATMENT, TAX EXEMPT ORGANIZATIONS, TAXABLE INCOME, TAXABLE INCOMES, TAXATION, TAXPAYERS, TECHNICAL ASSISTANCE, TECHNOLOGY TRANSFER, TECHNOLOGY TRANSFERS, TRADERS, TRADES, TRADING, TRANSFER PRICING, TRANSPARENCY, TURNOVER, TURNOVER TAX, VALUATION, VALUE ADDED TAX, VALUE ADDED TAXES, VALUE OF ASSET, VARIABLE RATE, WITHHOLDING TAX