The Corporate Income Tax in Vietnam is one of the main types of tax collected from companies. The tax amount is based on the net income that the organization have acquired during the past year of doing business. Corporate Income Tax (CIT) is considered to be one of the most important sources income for Vietnam government.

Corporate income tax finalization service is one of the key professional tax procedure service of S4B Vietnam. In standard way, corporate income tax finalization service will include finalization procedure of monthly, quarterly and yearly tax return. Notable facts about Corporate Income Tax (CIT) in Vietnam According to Vietnamese tax law, it is required that all organizations conduct CIT finalization at the end of the year. In addition, it is also requested that enterprises declare and pay corporate income tax (CIT) quarterly. The standard tax year is also defined to be the duration of one calendar year. If there are no tax liability arising during one business year, or if your company is allowed to receive incentives and/ or tax deductions, resources and efforts are still required to complete tax filling within the preset time limit with the competent tax authorities. Our corporate income tax service will take into consideration all types of income from production, services, tradition activities and other income regardless of the generated location (within Vietnam or not). According to Vietnamese tax law, taxpayers are subject to companies which produce/ supply products and/ or services which result in a taxable income. Our service helps your enterprise to correctly calculate the payable tax (except for the rare cases where a fixed and pre-determined tax amount has been set by the tax agency). In the annual CIT return, S4B Vietnam will also include a section to adjust the amount of accounting profits and taxable profits. Elements which cannot be declared in the quarterly reports are also be added or deducted in the year-end finalization. These elements required in-depth knowledge and experiences from senior accountant to precisely calculated the unexpected expenses or profits. For big enterprise having multiple depending branches in different provinces, the task of finalizing corporate income tax is not easy at only. Although only one corporate income tax (CIT) finalization dossier is required, separate amount of payable tax amount to provincial tax agencies is requested. Respective amount is calculated according to the expenditure portion of each brand. This is quite a time-consuming process and outsourcing the hard work to a trustworthy company like S4B Vietnam is quite a wise choice for business owner. Requirement of Corporate Income Tax (CIT) finalization documents Our corporate income tax (CIT) service will fulfill all the required documents requested by Vietnamese Law, including:  Statement of corporate income tax finalization (form 03/TNDN along with MOF Circular 28/2011/TT-BTC – 2011).  The Yearend financial statements and other necessary documents  Enclosed annexes with the declaration You can rest assured that the submission of CIT finalization will closely follow the paperwork deadline, which is 90 days after the end of the fiscal year. As a result, you can avoid all the punishments and fines from tax incompliance practices.