Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future

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...

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Bibliographic Details
Main Author: World Bank
Format: Other Financial Sector Study
Language:English
en_US
Published: Washington, DC 2014
Subjects:
CFC
LLC
Online Access:http://documents.worldbank.org/curated/en/2014/01/19264069/restructuring-corporate-income-tax-cit-value-added-tax-vat-vietnam-analysis-current-changes-agenda-future
http://hdl.handle.net/10986/17832
id okr-10986-17832
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic 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
spellingShingle 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
World Bank
Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
geographic_facet East Asia and Pacific
Vietnam
description 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.
format Economic & Sector Work :: Other Financial Sector Study
author World Bank
author_facet World Bank
author_sort World Bank
title Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
title_short Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
title_full Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
title_fullStr Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
title_full_unstemmed Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future
title_sort restructuring corporate income tax and value added tax in vietnam : an analysis of current changes and agenda for the future
publisher Washington, DC
publishDate 2014
url http://documents.worldbank.org/curated/en/2014/01/19264069/restructuring-corporate-income-tax-cit-value-added-tax-vat-vietnam-analysis-current-changes-agenda-future
http://hdl.handle.net/10986/17832
_version_ 1764438477224542208
spelling okr-10986-178322021-04-23T14:03:40Z Restructuring Corporate Income Tax and Value Added Tax in Vietnam : An Analysis of Current Changes and Agenda for the Future World Bank 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 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. 2014-04-16T15:24:30Z 2014-04-16T15:24:30Z 2014-01 http://documents.worldbank.org/curated/en/2014/01/19264069/restructuring-corporate-income-tax-cit-value-added-tax-vat-vietnam-analysis-current-changes-agenda-future http://hdl.handle.net/10986/17832 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Other Financial Sector Study East Asia and Pacific Vietnam