Cekindo Business International is now InCorp Indonesia. Learn more.
InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in today’s global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia, here.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
Vietnam has long been considered an investment paradise for foreigners due to its abundant workforce and competitive costs of lower wages. Furthermore, the country has developed one of the most competitive tax policies that stipulate tax incentives and other tax rates in Vietnam, which appease most foreigners.
When being compared to other countries in Southeast Asia, Vietnam’s tax incentives stand out and create a more favourable condition for foreigners to expand their business operations or invest in new projects.
Through reading this article, you will have a bigger picture of tax incentives in Vietnam, which will help you take advantage of the tax incentives offered for your business expansion and investment in Vietnam.
In general, there are three common taxes in Vietnam: corporate income tax, personal income tax and value-added tax.
Foreigners continue to pour in and start businesses in Vietnam because they are aware of the continuous decrease in corporate income tax rate in the country. The Vietnamese CIT rate has decreased from 32% to 20% between 2000 and 2018. Except for Singapore, the CIT rate in Vietnam is lower than most countries in the region, including Malaysia, Thailand, Indonesia, the Philippines, and Japan. The following shows the CIT rates in Vietnam and some neighbouring countries:
CIT is payable annually according to the tax law in Vietnam.
Personal income tax rate varies, depending on how much an individual earns per year. The tax rate ranges from 5% to 35%. Often time, senior managers are subject a PIT rate of 35%, whereas blue-collar workers are taxed around 5-10%.
Value-added tax is considered the most prevalent and indirect tax in Vietnam. Consumers purchase goods and services in Vietnam will be imposed a VAT of 0%, 5% or 10%, depending on the types of goods and services. Most goods in Vietnam will be taxed at 10%.
Related article: 5 Challenges of Accounting and Tax Compliance in Vietnam
Legal companies and organisations in Vietnam can benefit from two main types of tax incentives – preferential tax rates and tax holidays.
Large scale manufacturing
These companies can enjoy 4 years of tax holidays, followed by 9 years of 5% CIT. Once this period is over, the companies can enjoy 10% CIT until 15 years of establishment.
Social impact projects
Projects in education, vocational training, healthcare, environment, culture and sport can enjoy even better incentives. After 4 years of tax holidays and 9 years of CIT 5%, the social impact companies will be subject to 10% CIT for lifetime of the project.
The areas distant from Hanoi and Ho Chi Minh city are classified as economically disadvantaged. Investors setting up business in these areas can also benefit from decrease tax rates.
Due to unavailability of proper infrastructure and lack of skilled labour, this can be interesting for labour intensive low-tech industries. The tax incentive scheme depends on the actual location.
2-4 years of tax exemption and 4-9 years of CIT 7.5% – 10%
Extremely economically disadvantaged
4 years of tax exemption and 9 years of CIT 5% and from 13th year CIT 10%
You might also want to read Annual Tax Return in Vietnam in 2019
As always, it is a good idea to prepare every required document and fulfill all requirements if you are looking to apply for tax incentives in Vietnam.
You need to ensure that the investment license of your business complies with the requirements for foreign investment incentives. Only then you can make the most out of the benefits offered by Vietnam’s tax incentives.
Talk to us now to know more about tax incentives in Vietnam. Cekindo’s professional consultants will help you identify if your operations or business activities fit in any of the categories of the above-mentioned tax holidays and preferential tax rates. Then, we will help you apply for tax incentives as well.