Tax is one of the mots concerns of enterprises in business decision-making. Nowadays, with the orientation of self-responsibility in compliance with tax policies and laws promulgated by tax authorities and the Vietnamese government, enterprises pay too much attentions on tax compliance and make a plan to reach an optimal tax cost during their operation.
Our AASC service advantages
With 30 years of experience in providing services to thousands of clients operating in many different sectors of the economy in addition to our team of experienced and knowledgeable experts on prevailing regulations and laws, we can provide professional advices / solutions to harmonize tax issues in the broad business picture to support clients to achieve their above-mentioned goals.
Beside general experience, some specific fields such as real estate and cars are also our expertise thanks to many years providing services of VAT refund, import tax refund, tax planning and consulting for car manufacturing, and for lots of prestige clients such as Vinaconex, HUD, T&T group, Vinfast… We can also support clients in application procedures for tax exemption under double taxation agreements to significantly save the foreign contractor tax payable in Vietnam.
Our business advantage is enhanced by our ability to form interdisciplinary expert groups based on AASC resources and the HLB global network not only in taxation but also in accounting and consulting. We also maintain a regular and constructive dialogues with tax authorities, concurrently participate as a standing committee member in the Vietnam Tax Consulting Association (VTCA) to timely catch up with emerging tax issues and the most common concerns of the business community.
AASC’s tax services
1. Business tax service
In the context of increasing current regulations and laws on penalties for non-compliance of tax, the timely identification of impact and compliance from the beginning will help enterprises effectively manage tax risks at optimal cost.
Our business tax services include:
• Market penetration service: we support foreign enterprises planning to do business in Vietnam or domestic companies that want to expand their business. Our market penetration consulting team can assist with strategy, market penetration analysis, tax and legal structure or provide appraisal service for deals.
• Tax review service: check compliance with all types of VAT, PIT, CIT, contractor tax, special consumption tax...; risk alerts and plans to reduce future tax risks; assist businesses during the tax audit/inspection;
• Support service for tax inspection and dispute resolution: after tax review service, we will point out risks that tax inspectors may aim to, consult the documentation, add documents, concurrently prepare contention, support businesses in explaining directly to tax authorities during the inspection process, review the results after the tax audit, inspection period and tax dispute resolution services to the highest tax authority.
• VAT refund service: including preparation of documents and procedures, and assistance in answering questions, explaining to tax authorities during the VAT refund process. The implementation of VAT refund according to new investment projects and export production.
• Import and export tax refund services by sector, customs finalization reports preparation: We will support enterprises to prepare customs finalization reports, import and export tax refund, especially in specific areas such as import tax refund for the automobile manufacturing industry, supporting industries (including import tax refund under Decree 57/2020/ND-CP and Decree 125/2017/ND-CP), to consult on the application of trade agreement, on determination of domestic components that haven’t been produced yet, on customs value when refunding import and export tax...
• Contractor tax services and contractor tax refund under double taxation agreement: we will support enterprises to assess, calculate contractor tax for payments to foreign suppliers, review the possibility of contractor tax exemptions application and instruct clients on the procedures for applying for tax exemption and refund to save tax for clients.
• Tax planning and consulting services: consult tax impacts on making business decisions, enterprise purchase/sale, merger or restructuring decisions, strategic planning of business, transnational or domestic decisions.
• Fast and regular tax advisory service: provide rapid and regular advice about tax matters which enterprises are interested in, confirm their understanding or merely check uneasy problems. Quickly update information of tax law changes for businesses.
2. Personal income tax (PIT) service
AASC will provide PIT services for business and individuals, including:
• PIT declaration and PIT finalization service: cooperate with clients to collect relevant documents, evaluate taxable and non-taxable income and prepare provisional returns, PIT finalization returns.
We can also support clients with related services during this process, including immigration services such as assisting clients with required visas, work and residence permits, as well as identifying applicable visa categories, giving advice on immigration matters and processes; and assisting in reviewing and registering social insurance procedures, planning to optimize insurance cost.
• Payroll service: coordinate with clients to collect relevant documents, provide personnel for the salary calculation and ensure the salary calculation to comply with current regulations.
• Support service for tax review and tax audit, inspection: assess and review the compliance with PIT and SHUI before any tax audit and inspection. Provide advice on how to minimize potential risk issues and determine the level of risk in case of tax audit and inspection. Review, assess and provide professional support throughout and after the tax audit and inspection process, consult and respond to problems raised and work closely with clients to come up with the most suitable strategy.
3. Tax services for business mergers and acquisitions
In today’s market economy, mergers and acquisitions are a regular activity which usually happen. However, these transactions need to be carefully considered in terms of taxation, especially cross-border transactions in order to make a judicious decision on the target object and the negotiated price.
As a result of a member of the global HLB network, AASC can access/coordinate tax among network members, and join the "Mergers and Acquisitions Group of HLB", thus our clients have access to professionals who understand the way in which taxes affect transactions around the world. Our team of experts have a commercial mindset, they know how to identify and advise on actual tax risks in a transaction, and how to build deal structures in order to address tax impacts better.
Tax services group in business mergers and acquisitions include the following services:
- Review tax in particularly, tax assessment for purchase and sale of business
- Structure commercial affairs or arrange business in the direction of optimizing the tax impact
- Tax modeling
- Suppliers support
- Integration after commercial affairs
For more information about our services or if you would like our experts to contact you, please do not hesitate to call us via the address:
Mr. Do Manh Cuong MBA CIMA FCCA FCPA Aust. FCPA Vietnam
(84) 903 256 280