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Vietnam - VAT registration guide

Contributed by Van Dang Thi, PKF-AFC Vietnam Auditing Co Ltd

VAT registration threshold – local establishment	Not applicable �� All organisations and individuals involved in producing, trading or importing taxable goods and services in Vietnam are required to register for tax purposes and pay VAT in Vietnam. There is no separate VAT registration procedure.

VAT registration threshold – no local establishment	Not applicable

Voluntary registration	As stated above, all organisations and individuals involved in producing, trading or importing taxable goods and services in Vietnam are required to register for tax purposes in Vietnam. There is no separate VAT registration procedure and no provision for exemption from registration. There are, however, certain cases where VAT declaration and payment is not required (eg by suppliers of non-taxable supplies). �� Enterprises and business co-operatives can choose to register voluntarily for VAT deduction in Vietnam if: • they adopt the full Vietnamese accounting standards, while maintaining accounting books and invoices in accordance with Vietnamese regulations; and • they generate annual revenue of less than VND