Compare Taxes & Fees to companies

doing businesses in Vietnam, Thailand

and USA

Here is where our presentation begins

 AGENDA
01 Taxes and fee in Vietnam

02 Taxes and fees in Thailand

03 Taxes and fees in USA

04 Comparison

05 Ways to reduce taxes and fees

 TAXES AND FEES IN
01
VIETNAM
Tax rate:

The standard corporate tax rate is 20%. Certain

industries may have a higher tax rate applied.

Subjects of Application:

Corporate income tax applies to all domestic and foreign

entities that invest in Vietnam, companies incorporated
under Vietnamese laws and those incorporated under
foreign laws and carry on a business in Vietnam
Compliance requirements: There are three types of
filling

+ Annual return
+ Ad hoc returns
+ Return for cessation of business, completion of
contract, change of ownership, or reorganization
 Paying VAT

Output Tax - Input Tax = Tax Paid

→ For a positive result, the operator must submit the

remaining tax no later than 15 days after the end of each month.

→ For a negative balance, the operator is entitled to a refund in

the form of cash or a tax credit, which must be paid in the
following month.
Related business factors:

+ One member limited liability company

+ Two or more members LLC (with a maximum of
50 members)
+ Joint Stock Company (with a minimum of three
shareholders).
 OUR TEAM

JOHN DOE MICKAEL JAM KATY CASTLE

You can speak a bit about this You can speak a bit about this You can speak a bit about this
person here person here person here
Value added tax (VAT)

Tax rate: The standard rate is 10%

Supplies Applied:
Goods and services used for the purposes of production, trading, and consumption in Vietnam.
Value added tax (VAT)

MERCURY
It’s the closest planet to the
Sun

JUPITER
It’s the biggest planet of them
all

SATURN
It’s composed of hydrogen
and helium
Comparison
Compare taxes to companies doing business in
Vietnam, Thailand and the USA.
 CUSTOMER PROFILE
GENDER USERS PER COUNTRIES
Country A 85%
Country B 75%
75% Country C 60%
Country D 28%
Country E 25%

25% Follow the link in the graph to modify its data and then paste the new one here.
For more info, click here

INTERESTS

Languages Computing Video Music

 OUR HISTORY

2012 2016 2020

MARS NEPTUNE MOON

Mars is actually a very cold It’s the farthest planet from The Moon is Earth’s natural
place the Sun satellite
 OUR NUMBERS
$30,000 SALES
35%
Expected income for 2022 Venus has a beautiful name

250 DAYS MARKET

75% Neptune is far away from
Average days on market
Earth

MARKET
$28.87 65% Mercury is the smallest
Average price per unit planet
 OUR SERVICES

MERCURY VENUS MARS

It’s the closest planet to the Venus is the second planet Mars is actually a very cold
Sun from the Sun place

JUPITER SATURN NEPTUNE

It’s the biggest planet of It’s composed of hydrogen It’s the farthest planet from
them all and helium the Sun
 02

Taxes & fees

in Thailand
Revenue Code
Taxes in Thailand are governed by the Revenue Code, which
follows the concept of a self-assessment system.
The Revenue Department of the Ministry of Finance is
responsible for administering taxes, which are imposed on
regional and national levels.
Corporate Income Tax
Subjects of application:

Companies and juristic partnerships, members of

unincorporated joint ventures, registered
partnerships, foundations, mutual funds, and
associations engaged in business activities in
Thailand.
 Tax Rates:
- All companies and registered partnerships are subject at a flat rate of 20% of net profits.

- With respect to small and medium enterprises:

Amount (THB) Rate

1 - 300,000 exempt

300,001 - 3,000,000 15%

3,000,001 onwards 20%

 Tax Rates:
- Certain types of business are subject on their gross receipts or gross sales instead of net profits:

Foreign-incorporated companies engaged in the

3% on gross receipts of fares or gross freight for
business of international transportation of passengers
goods carried out of Thailand
or goods

Mutual funds 15% on certain income (interests and discounts)

either 2% or 10% of their gross income (depending

Foundations and associations
on the type of income received)
 Tax Rates:

- Remittance Abroad of the Profits of a

Branch Office:

This tax generally applies only to profits

transferred overseas from a Thai branch.
It is levied at a rate of 10%
 Petroleum Income Tax

- Imposing a tax on income from firms which own an

interest in a petroleum concession
- The tax rate for most operators is not less than 50%
and not more than 60% of net profits.
 Paying Corporate Income Tax
- Corporate income tax is payable twice a year

A half of
Beginning financial Ending
year

Beginning of Ending of financial

financial year
50% year
due within 2 months after
Personal Income Tax
Subjects of application:

- Every person, resident or non-resident, who

derives assessable income.
Individuals residing for 180 days or more in
Thailand

- Personal income tax paid and absorbed by an

employer (in effect giving the employee a net
salary)
 Income from Dividends and Personal
Income Tax
- The rate of 10% of dividend income, without including such dividend payments in their taxable
income

- Approximately 25% if they include such dividends into their taxable income
 Personal Income Tax Rates & Due
Date
- Personal income tax rates on net taxable income are as follows:

Amount (THB) Rate Amount (THB) Rate

1 -150,000 exempt 750,001 - 1,000,000 20%

150,001 - 300,000 5% 1,000,001 - 2,000,000 25%

300,001 - 500,000 10% 2,000,001 - 5,000,000 30%
500,001 - 750,000 15% 5,000,001 onwards 35%

→ Must be filed prior to the end of March of the year following

Value Added Tax
 Subjects & VAT Rate

VAT applies to: VAT rate: at a standard rate of

retailers, manufacturers, 7%
wholesalers, However, it will increase to 10%
producers, (inclusive of municipal tax)
importers of goods, service from 1 October 2024 onwards,
providers unless the reduced rate is
… extended.
 Paying VAT
- VAT must be paid on a monthly basis

Output Tax - Input Tax = Tax Paid

● Output tax is the VAT which the operator collects from the
purchaser
● Input tax is the VAT which an operator pays to the seller of a
goods or service
 Paying VAT

Output Tax - Input Tax = Tax Paid

→ For a positive result, the operator must submit the

remaining tax no later than 15 days after the end of each month.

→ For a negative balance, the operator is entitled to a refund in

the form of cash or a tax credit, which must be paid in the
following month.
 Zero Percent Rate for VAT and
Exemption from VAT
• small and medium enterprises ("SME") with annual gross sales of not exceeding THB 1.8 million;
• businesses that sell agricultural products, other than for the purpose of export;
• imported goods brought into a duty-free zone;
• provision of research and technical services;
• provision of domestic transportation;
• provision of health care services;
• provision of educational services;
• religious and charitable organizations;
• leasing of immovable property;
• other activities and businesses as prescribed under the Revenue Code.
Specific Business Tax
Subjects of application:

• Commercial banks and similar businesses

• Insurance companies
• Financial securities firms and credit fonciers
• Sales on the stock exchange
• Sales of non-movable properties
• Pawn shops.
 Tax Rates & Due Date
- The SBT rate (inclusive of municipal tax) varies from 0.011% to 3.3% on gross revenue,
depending on type of business

3% 2.5%
( although for certain types banking income, the
rate is 0.01% )
Life insurance
Commercial banking or credit financing business

2.5% 3%
Business with transactions similar to
Pawn business
commercial banking

- Must remit the SBT monthly, by the fifteenth day of the following month
 Withholding Tax

- The withholding tax imposed on dividends is

subject to 10%

- Interest paid to non-resident companies is subject

to 15% whereas it is only 1% for residents
 Withholding Tax on Foreign Payments
A final withholding tax is imposed on the remittance of income to foreign companies not carrying on
business in Thailand:

● Brokerage, fees for services: 15%

● Royalties: 15%
● Interest: 15%
● Dividends: 10%
● Capital gains: 15%
● Rental of property: 15%
● Liberal professions: 15%

The above taxes may be reduced or exempt under double tax treaties.
Stamp Duty
 Stamp Duty
- Stamp duty is levied on 28 different types of documents and
instruments, including contracts for hire of work, loans, share transfers,
leases of land or buildings, and insurance policies.

- The stamp duty rate depends on the type of document and ranges
from THB1 per THB1,000

- Failure to pay and affix the stamps on time is subject to a surcharge

from 200% to 600% of the duty payable
 Excise Tax
- Imposed on certain commodities, whether
manufactured locally or imported from overseas, and
on certain services provided domestically

(petroleum and petroleum products, alcoholic and

non-alcoholic beverages, automobiles, motorcycles,
batteries, perfumes, tobacco, golf courses, and
horse racing tracks)
The excise tax bases and rates vary according to the type of goods and services
Property and land taxes
Fees in Thailand
 Fees in Thailand

Professional Fees:
- Setting up a new company in Thailand, including getting a tax
ID and VAT registration
→ Professional fee: Baht 30,000 – 100,000

- Getting a foreign business license (or certificate to operate

business)
→ Professional fee: Baht 50,000 – 100,000
 Fees in Thailand

Government Fees:
- If a company has Thai majority shareholders and it will not hire any foreigner,
the government fee is about 7,000 for Baht 1 M registered capital.
- If a company has Thai majority shareholders and will hire a foreigner to work
for it, the government fee is about 12,000 for Baht 2M registered capital plus
about Baht 6,000 for each additional million.
- If your new company has foreign majority shareholders, you need to have at
least Baht 3M registered capital, the government fee is about Baht 18,000. And
the government fee for getting a license to operate a foreign business in
Thailand is about Baht 35,000.
 Corporate Income Tax
Typical
Subjects of
Tax rate frequency of
application
return

All domestic and foreign

Vietnam 32% - 50% entities that invest in Annual
Vietnam; …

Companies and juristic

Thailand 20% partnerships that are Twice a year
registered under Thai law

All businesses except 15th day of the fourth

USA 21%
partnerships must file … month
 Value-added tax (VAT)
Typical
Subjects of
Tax rate frequency of
application
return

All organizations and

Vietnam 10%
individuals producing …
Monthly or quarterly

Applies to all retailers,

10% ( since 1st October
Thailand 2023 )
manufacturers, Monthly
wholesalers,...

Businesses must pay sales

tax on products they use At the end of the sales
USA 0%-16%
for their business. cycle
 Personal Income Tax
Typical
Subjects of
Tax rate frequency of
application
return
Residents and Non-
residents Vietnam-
Vietnam 1%-35%
sourced employment
Monthly or quarterly
income.

Every person, residents or

Thailand 5%-35%
non-residents
Before the end of March

When you have

employees, you as the
15.3%, with the employer employer have certain
USA paying 7.65%. employment tax
Each quarter
responsibilities.
 Special Sales Tax
Typical
Subjects of
Tax rate frequency of
application
return

The production or import

Vietnam 10%-75% of special / luxury goods
and services

Bases and rates vary Petroleum and petroleum

Thailand according to the type of products, alcoholic and
goods and services. non-alcoholic; ..

7.4%-44.4% Products like motor fuel,

USA tobacco,...
 OUR HISTORY

2005 2008 2010

MERCURY JUPITER VENUS

It’s the closest planet to the It’s the biggest planet of them Venus is the second planet
Sun all from the Sun
 OUR GROWTH

$30,000
Expected income for
2022

100
New employees next
year

2015 2017 2019 2021

Follow the link in the graph to modify its data and then paste the new one here.
For more info, click here
 OUR STRENGTHS
MERCURY
Mercury is the closest planet to the
Sun and the smallest one in the
Solar System—it’s only a bit larger
than the Moon
VENUS
Venus has a beautiful name and is
the second planet from the Sun. It’s
hot and has a poisonous atmosphere
03 TAXES AND FEES IN THE USA
 6 General Business’s Taxes

Income Tax Self-employment Tax Excise Tax

01 02 03 04 05 06

Estimated Tax Employment Tax Sales Tax

 1. INCOME TAXES

Sole proprietorship
Pay the business’s income taxes at your
Partnership
Individuals are taxed on their
individual federal income tax rate share of the business net
income.

Limited liability Corporations

corporation They are currently taxed at a flat
Are taxed on their share of
21% rate
business net income.
 SHAREHOLDER-LEVEL
TAXES

DIVIDENDS CAPITAL GAINS

23,8% 40,8% 23,8% 40,8%

QUALIFYING NON-QUALIFYING LONG-TERM SHORT-TERM

A PICTURE IS WORTH A THOUSAND
WORDS
 THANKS
Do you have any questions?
youremail@freepik.com
+91 620 421 838
yourcompany.com

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