Viet Nam Tax Codes
Tax codes determine how much tax is paid on each transaction line item. For NetSuite to calculate correct values on transaction records and tax reports, make sure that the tax codes for Viet Nam are set up correctly.
For more information on tax codes, see Tax Code Properties and Creating Tax Codes.
Important Things to Note
-
The International Tax Reports SuiteApp only supports 139 unique tax codes per tax period for each country.
-
You can use more than 139 tax codes for each country if these tax codes are not used in the same tax period.
Tax Code Table for Viet Nam
The following table shows the tax properties required to correctly generate the Viet Nam tax reports provided by the International Tax Reports SuiteApp. The tax code names or letters used in the following table are suggested names or default system preferences. You can rename the tax codes. Tax reports identify transactions by looking at the tax code properties, not the tax code names.
On the New Tax Code or Edit Tax Code page, check the boxes of the properties that apply to the tax code. For more information about tax code properties, see Tax Code Properties.
Please consult your tax agency for the correct tax rates.
|
Tax Code |
Description |
Property |
Rate |
Available On |
|---|---|---|---|---|
|
CAP-VN |
Goods and services for investment projects |
Capital Goods |
10% |
Purchases |
|
EX-VN |
Exempt sales or purchases |
Exempt |
0% |
Both (Sales and Purchases) |
|
NO-VN |
Other transactions (for example, as a sales agent or consignee of goods) |
Non-operational Transaction |
0% |
Both (Sales and Purchases) |
|
R-VN |
Reduced rate |
Reduced Rate |
5% |
Both (Sales and Purchases) |
|
RUn-VN |
Purchases of goods and services qualified for tax deductibility at reduced rate |
Unknown Tax Credit Reduced Rate |
5% |
Purchases |
|
S-VN |
Standard rate |
Default |
10% |
Both (Sales and Purchases) |
|
SUn-VN |
Purchases of goods and services qualified for tax deductibility at standard rate |
Unknown Tax Credit |
10% |
Purchases |
|
Z-VN |
Zero rated |
Export |
0% |
Both (Sales and Purchases) |