Le & Tran has over a decade of experience in tax-related advice and litigation in Vietnam. We are experts on the implications of tax matters for our clients which range from large, multi-national companies to individuals. The Firm routinely provides key assistance in navigating the intricacies of the Tax Code and successfully defending clients in regulatory actions.
Dealing with the Vietnamese tax authorities regarding a tax dispute is not a simple matter. There are several agencies, such as the General Department of Taxation and the Ministry of Finance, as well as local tax authorities that need to be considered. In addition, there are often complexities in areas such as business valuation and accounting that require careful consideration and research.
Le & Tran listens carefully to the in-house accounting department/managers of its clients to ensure the business objectives of each client are able to be achieved. Should a dispute with the tax authorities exist, the Firm works hand-in-hand with the client to prepare the case and collect the necessary evidence. The ultimate goal is to achieve an equitable solution with the tax authorities in the shortest possible time frame.
What is a Tax Litigation Law Firm?
A tax litigation law firm is a legal practice that specializes in representing clients who are involved in disputes with the federal government or state tax authorities. Tax litigation attorneys have a deep understanding of tax law and procedure, and they use this knowledge to advocate on behalf of their clients. Whether it is negotiating a settlement or taking a case to trial, tax litigators fight for the best possible outcome for their clients. If you find yourself in a dispute with the government over taxes or simply needing legal advice for tax matters, it is important to have an experienced attorney on your side — a tax litigation law firm can give you the representation and consultation you need to protect your rights and interests.
Businesses are met with a myriad of different tax laws that can be difficult to manage and stay atop of, especially for those expanding beyond initial geographical borders. Engaging a tax litigation law firm with the experience and expertise to navigate the complex tax code can be extremely beneficial in this regard. Any business that wants to minimize its tax liability and protect its bottom line should seek tax legal consulting and advice from a reputable firm in Vietnam, as doing so will help save much time, money, and stress in the long run.
What do Tax Litigation Attorneys Do?
Tax litigation attorneys represent taxpayers in disputes with the federal government. They handle cases involving audits, collections, and appeals. Tax litigation attorneys also represent taxpayers in court if they cannot reach an agreement with the state tax authorities. Some tax litigation attorneys also help clients with criminal tax cases. These cases can be very complex, and it is important to have an attorney who understands both tax law and criminal law.
At Le & tran, our tax advisory services aim to help clients with a full range of taxation strategies, covering both direct and indirect taxes. Our team consists of top attorneys in tax litigation and licensed tax advisors with many years of experience in various industries. These services include, but are not limited to:
- Providing legal advice on the application and effect of tax laws (decrees, circulars, decision, etc.) on the day-to-day operations of the client’s business.
- Representing and defending the company’s interests during a tax audit.
- Performing tax due diligence and identifying and resolving faults and potential tax risks before an M&A or tax audit.
- Communicating with the relevant authorities on behalf of the client in all tax matters.
- Providing guidance concerning contractual tax clauses.
- Finding solutions to avoid double taxation.
- Recommendation of actions in connection with restructuring measures.
- Assisting in tax administrative procedures such as tax returns.
- Optimizing holding structures and tax groups.
- Evaluating opportunities to limit the client’s tax liability.
What is Vietnam’s Tax Law Like?
How Are Taxes Collected in Vietnam?
In Vietnam, taxes are collected by the General Department of Taxation (GDT). The GDT is responsible for administering all aspects of taxation in the country, including collecting taxes and enforcing tax laws. The GDT also provides guidance and assistance to taxpayers, helps businesses comply with tax regulations, and represents Vietnam in international taxation matters — albeit the advice may be more generic in nature as compared to that which can be provided by professional tax litigation law firms.
What Is the Corporate Income Tax Rate in Vietnam?
The corporate income tax rate in Vietnam is 20 percent. This rate applies to both resident and non-resident companies. There are a number of deductions and exemptions that can lower your effective tax rate, however. For example, businesses can deduct research and development expenses, as well as certain other costs associated with doing business in Vietnam. Additionally, there are a number of tax incentives for businesses that invest in certain sectors or regions of the country.
What Is the Personal Income Tax Rate in Vietnam?
The personal income tax rate in Vietnam is five percent. This rate applies to both resident and non-resident individuals. There are a number of deductions and exemptions that can lower your effective tax rate, however. For example, taxpayers can deduct certain expenses, such as education costs, from their taxable income. Additionally, there are a number of tax incentives for individuals who invest in certain sectors or regions of the country.
What Are the Most Common Taxes in Vietnam?
The most common taxes in Vietnam include the corporate income tax, the personal income tax, the value added tax (VAT), and the import duty. These taxes all apply to businesses and individuals alike.
How Does Vietnam’s Tax System Compare to Other Countries?
As aforementioned, the corporate income tax rate is only 20 percent, and the personal income tax rate is just five percent. There are also a number of deductions and exemptions that can help lower your tax bill. Additionally, Vietnam has signed a number of double taxation avoidance agreements (DTAs) with other countries, which can further reduce tax liability. With all these factors considered, Vietnam is an attractive destination for businesses looking to minimize their taxes, albeit firms unfamiliar with Vietnam’s tax system should look to professional tax consulting advice to fully leverage available benefits while adhering to legal compliance such that litigation is avoided.
Why Engage Le & Tran for Legal Tax Advice?
Led by formidable litigator Stephen Le, Le & Tran has established credible renown as one of the top law firms in Vietnam. Comprising all-rounded attorneys that can not only provide tax legal advice and consulting, but actionable business advice that complies with all legal requirements, the Firm commits to providing the most comprehensive, insightful and effective legal services to businesses as well as individuals, expats, locals, multinationals and startup industries in Vietnam.
Tax disputes are notoriously complex, and each case is unique and distinctly intricate. That is why all attorneys from Lee & Tran are especially adept at taking on customized approaches to litigation and consulting, relying on more than our wealth of experience and expertise, leveraging innovative thinking to design the most optimal strategy that helps companies and individuals achieve the most favorable outcomes. Our practice guarantees professionalism, efficiency, and excellency for all our clients, regardless of the industry your firm operates in. Get in touch with us today for tax legal solutions and more.