AFC
  • AsPac2018-en
  • UBCK2019en
  • btc2019en
  • Corporate finance

    PKF-AFC Vietnam provides corporate advisory and insolvency recovery advice. The firm offers a wide range of professional services to multinationals, public listed companies, private limited companies, charitable organisations and private individuals. The PKF-AFC Vietnam team has an extensive track-record and experience in delivering comprehensive corporate advisory services to its clients in Vietnam and the Southeast Asian region.

  • Assurance & Advisory

    Our audit teams are trained and led so as to provide you with the benefits of our knowledge and expertise. We understand the challenging environment in which our clients operate. Our audit approach is designed to fulfill our regulatory responsibilities while supporting our clients in meeting both their regulatory and business requirements.

  • Taxation

    Our tax consultants work closely with clients to deliver timely, high quality tax services to maximize tax planning opportunities and incentives and to find the best solutions to the challenges in the particular circumstances.

  • Accounting Advisory Services

    In the current global environment that many companies operate within, there are many challenges for these companies from an accounting perspective as shareholders, regulators and other external stakeholders take a greater interest in how companies report, disclose and communicate their financial results.

  • (Tiếng Việt) Dịch vụ Kiểm toán vốn đầu tư XDCB

    (Tiếng Việt) Để đảm bảo việc cung cấp dịch vụ có chất lượng cao, chúng tôi sẽ áp dụng phương pháp kiểm toán gồm những nét chính như sau

PKF – AFC VIET NAM

PKF – AFC VIET NAM

Cong-ty-TNHH-Kiem-Toan-AFC-Viet-Nam

We are one of the leading audit firms which have been delivering audit services since 1992  as a southern branch of ASC audit firm at that time After highly efficient operation during three years, the branch was changed to an independent audit firm which was named Sai Gon financial, accounting consulting and auditing company limited […]

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Why Choose PKF-AFC Viet Nam?

  • 01

    Certified public personnel, periodically trained

  • 02

    Flexible services

  • 03

    Maximizing client’s benefit

  • 04

    The most competitive fee

Video About Us

FAQ

  • Q: Refund of Personel Income Tax (PIT) based on Agreements?

    "

    A: Based on official letter No. 3662/TCT-TNCN dated 27/09/2018 by Genreal Taxation Department on refund of PIT to foreign expart

    The foreigner that earns taxable income is eligible for tax exemption or reduction according to a Double taxation agreement between Vietnam and another country/territory that is required to carry out the procedures as mentioned in clause 13, article 16 circle No. 156/2013/TT-BTC. In details, 15 days before performing the contract with the Vietnamese entity, the foreigner must send the Vietnamese party a dossier. The Vietnamese party shall submit it the supervisory tax authority together with the first declaration. The dossier consists of:

    - The Notice of eligibility for tax exemption or reduction (form 01/HTQT);

    - The original or certified true copy of the Certificate of residence (consularly legalized) issued by the tax authority of the home country before the year in which the Notice of eligibility for tax exemption or reduction is issued;

    - A photocopy of the labor contract with the overseas employer, which bear the individual’s signature;

    - A photocopy of the labor contract with employer in Vietnam which bear the individual’s signature;

    - A photocopy of the passport showing the arrival in Vietnam, which bears the individual’s signature;

    -A photocopies of the business registration and/or practice certificate, tax registration certificate issued by the authority of the home country if the individual earns income from self-employment;

    - A photocopies of the business registration and/or practice certificate issued by the Vietnamese authority to the individual that earns income from self-employment.

    - A photocopy of the contract with the Vietnamese entity, which is certified by the taxpayer

    - The Letter of attorney if the taxpayer authorizes a legal representative to carry out the procedure

    - Other documents if applicable

     

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  • Q: Is work permit application exempted from PIT?

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    A: Based on official letter No. 3545/TCT-TNCN dated 20/09/2018 by General Tax Department regarding to dertermination of taxable income

    Based on Article 10, Decree No. 11/2016/NĐ-CP, entity is responsible for conduction of work permit application on behaft of related foreign expert working in Vietnam.

    Costs related to work permit application paid by entity is entity’s responsibilities, which is not benefit of employee that will not be charged PIT.

    In connection with other costs paid by entity on behaft of foreign expert belonging entity’s responsibilities that are subject to be charged PIT.

    Besides that, as mentioned in point đ.5, clause 4, article 11, Decree No. 92/2015/TT-BTC, employee transportation fees is not subject to be charged PIT.

    In the case if the entity pay taxi fee used by foreign expert, who is assigned to work in the entity by parent company in compliance with internal policy that will not be charged PIT.

    "

  • Q: Procedures for refund of Personel Income Tax (PIT) incurred by a foreign expert?

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    A: Based on official letter No. 2848/TCT-TNCN dated 20/07/2018 by General Department
    Based on point b, clause 1, article 24 of the Law on PIT No. 04/2007/QH12 dated November 21st, 2007 by the National Assembly regulates: Responsibilities of income-paying organizations and individuals and responsibilities of resident taxpayers:
    1. Responsibility to make tax declaration, withholding, payment and finalization is specified as follows: ...
    b) Individuals who have taxable incomes shall make tax declaration, pay tax into the state budget and make tax finalization for all their incomes in accordance with the law on tax administration."
    At Clause 1 Article 2 of the Government's Decree No. 75/2000/ND-CP dated December 8th, 2000 regulates notarization as follows: Notarization and authentication 1. Notarization means the certification by the Notary Public offices of the truthfulness of the contracts already entered or other transactions already established in civil, economic, commercial and other social relations (hereinafter called contracts, transactions) and its performance of other tasks under the provisions of this Decree."
    At Clause 2 Article 2, Clause 2 Article 4, Clause 2 Article 5 of Decree No. 111/2011/ND-CP dated December 5th, 2011 regulates: Interpretation of terms 2. “Consular legalization” means the competent Vietnamese agencies' certification of stamps, signatures and titles on foreign papers and documents for being recognized and used in Vietnam. ...
    Article 4. Requirement of consular certification and legalization ...
    2. To be recognized and used in Vietnam, papers and documents of foreign countries must be consularly legalized, except the cases specified in Article 9 of this Decree. ...
    Article 5. Vietnamese agencies competent to carry out consular certification and legalization ...
    2. Overseas Vietnamese diplomatic missions, consulates or other agencies authorized to perform the consular function (below referred to as representative missions) are competent to carry out consular certification and legalization overseas."
    At Clause 13 Article 2 of Circular No. 26/2015/TT-BTC dated February 27th, 2015 of the Ministry of Finance provides guidelines on tax refund dossier as follows:
    2. Tax refund dossiers
    - A letter of attorney if the taxpayer authorizes a legal representative to follow the procedure. If the taxpayer authorizes a legal representative to claim tax refund that is transferred to the account of another entity, consular legalization (if the authorization is made overseas) or notarization (if the authorization is made in Vietnam) is required."
    Based on the above basements, we have situation that Mr. A comes from Gemany, he came to work in Vietnam, already returned his home country and has overpaid PIT, when he carries out procedures for tax accounting for the purpose of receiving PIT refund directly at tax authority and wishes to authorize B Vietnam Auditing Co., Ltd. to make tax accounting, tax refund and receive the PIT refund which shall be transferred to B Vietnam Auditing Co., Ltd.'s account, he has to make an authorization letter in order to authorize B Vietnam Auditing Co., Ltd. to make tax accounting, tax refund and receive the PIT refund on his behalf. If he has made the authorization letter and carried out the consular legalization in the Federal Republic of Germany in accordance with the applicable regulations, such authorization letter shall be recognized and used in Vietnam. When B Vietnam Auditing Co., Ltd carries out procedures for PIT refund and receive the refund on behalf of Mr. A, B Vietnam Auditing Co., Ltd. has to submit the commitment to repay the PIT refund already received to Mr. A to the Department of Taxation. After receiving the tax refund of Mr. A, B Vietnam Auditing Co., Ltd has to fully repay such amount to Mr. A under the aforesaid authorization letter

     

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  • Q: Compulsory insurance amount may be deducted from the taxable income when calculating PIT?

    "

     

    A: Based on official letter No. 51502/CT-TTHT dated 24/07/2018 by Ha noi Taxation Department.
    Based on point e.1 clause 2 Article 26 Circular, in case the foreign expert came to Vietnam in 2017, being a resident individual in Vietnam in 2017, earns income from salary, wage paid by the parent company in oversea and the parent Company has calculated and paid PIT in oversea, the PIT already paid in oversea shall be subtracted from PIT payable in Vietnam according to point e Clause 2 Article 26 of Circular No. 111/2013/TT-BTC. Dossier proving the PIT already paid in oversea shall be carried out according to point b.2.1 Clause 3 Article 21 of Circular No. 92/2015/TT-BTC. If the Representative Office/Company's Head has paid compulsory insurance premiums according to oversea regulations, such premiums shall be subtracted from taxable income upon calculation of PIT in Vietnam according to point c Clause 2 Article 9 of the aforesaid Circular No. 111/2013/TT-BTC.

     

    "

  • Q: The non-resident expert earnes income from Vietnam but receive them in overseas shall declare tax quarterly ?

    "

    A: Based on official letter No. 3613/TCT-TNCN dated 24/09/2018 by General Taxation Department
    Based on point a, clause 8, Article 26 Circular No. 111/2013/TT-BTC dated August 15th, 2013, “A non-resident that earns incomes in Vietnam but receives them overseas shall declare tax whenever the incomes are incurred. Particularly, the non-resident that earns incomes from salary, wage in Vietnam but receives them overseas shall declare tax quarterly”
    Based on Article 27 of Circular No. 111/2013/TT-BTC dated August 15th, 2013 “When an organization established and operated within Vietnam's laws (hereinafter referred to as Vietnamese party) signs a contract to purchase services of a foreign contractor that signs labor contracts with foreign workers working in Vietnam, then the Vietnamese party shall notify the foreign contractor of the obligations to pay personal income tax incurred by the foreign workers, the obligations to provide information about the foreign workers, including their names, nationalities, passport numbers, working duration, positions, and incomes for the Vietnamese party. The Vietnamese party shall provide such information for the tax authority in charge at least 07 days before the foreign workers start working in Vietnam”
    According to the aforesaid regulations, in case an individual working for A Co. Ltd is not-resident in Vietnam and earns incomes generated in Vietnam, he shall declare and pay PIT with regard to the incomes earned in Vietnam according to currently - applied regulations on PIT of Vietnam. The Company, in which the foreign expert is working for, shall be responsible for informing the foreign contractor to carry out according to Article 27 of Circular No. 111/2013/TT-BTC

     

    "

  • Q: Our company (A Co.) was found by a company in Hong Kong (B Co.). B Co. has signed some contracts with Vietnamese Suppliers to establish/build up A Co.,. Before A Co., was found, B Co., had paid a lot of expenses (including VAT) to these Suppliers by bank transfer under these contracts. These Suppliers haven’t issue VAT invoice to A or B Co., yet. Now, we would like to record these expenses for A Co., and get back Input VAT. Of course, we want to make sure that the tax authority accepts these. So, please advise us what we should do. Looking forward to receiving your reply soonest

    "

    A: In connection with the question regarding to VAT, we have response as bellows:

    -As per item 12b, Article 14 in Circular No. 219/2013/TT-BTC dated 31/12/2013 by Finance Ministry, Input VAT deductible rules are mentioned as below:

    “…”

    b) before setting up a company, founder(s) have official minute to authorize an individual or organization to pay expenditures related to establishment, purchasing goods, materials on behalf of them. In this case, the company is allowed to declare, deduct the input VAT as per in VAT invoices, which have the authorized individual/organization name. These payments have to be conducted via bank transfer if invoice amount is VND 20,000,000 or over.

    - As per item 3c, Article 12 in Circular 219/2013/TT-BTC dated 31/12/2013 by Finance Ministry, “ Entities register voluntary application of tax deductible method” are:

    c) Newly established enterprises and cooperatives that invest in or purchase fixed assets, machinery or equipment (excludingpassenger cars of seats or less of businesses not dealing in transport, tourism or hotel business) valued at VND 1 billion or more asindicated on the invoices on purchase of fixed assets, machinery or equipment, including invoices on purchase of fixed assets, machinery and equipment before such enterprises or cooperatives are established; foreign organizations and individuals doing businessin Vietnam under contractor or subcontractor contracts” Circular 219/2013/TT-BTC has come into force since 01/01/2014.

    Before 01/01/2014, input VAT invoices were only declared within 06 months since day of billing the invoice (Item 7, Article 14- Circular No. 6/2012/TT-BTC)

    -As per Item 3, Article 3, Circular 45/2013/TT-BTC dated 25/4/2013 by Finance Ministry:

    “…”

    b) Establishment, training, advertisement expenditures occur before establishment, searching expenditures, location moving expenditures, technology documents purchasing expenditures, patent expenditures, technology transferring expenditures, trading brand, business advantage not invisible fixed asset that were allocated to business expenditure not exceeding 3 years as per Corporation Income Tax Regulations

    Application of the above regulations on your question:

    Expenditures occur prior establishment with adequately legal documents are recorded as before establishment expenditures and are allocated not exceeding 3 years.

    Expenditures occur prior establishment with the VAT invoice (after 01/01/2014) can be deducted in cases: -Related to the company’s establishment;

    -These is authorization by the founder(s) to an individual/organization to payments on behalf.

    Newly established company have to apply the VAT deductible method.

     

    "