Vietnam is a socialist country and as such subscribes to the marxist belief that a heavy progressive income tax should be applied to all income, individual and corporate. As a result of this heavy hand of government in conjunction with many years of economic sanctions, Vietnam was reduced to that of a 4th world status.

In recent years however the country has tried to exercise a policy called Doi Moi, (new life) and as such as made much stronger headway toward a freer system of taxation. In fact the incredibly high rates of taxation have changed substantially over the years and are now almost in line with taxes in western countries like the UK, USA, and elsewhere, although in the US as an example there are various ways to reduce the burden of taxation by using a good accountant to interpret tax laws and reduce taxes by investment and other "write-offs" which may or may not exist in Vietnam.

There are other ways to reduce the tax load in Vietnam especially for the entrepreneur and businessperson who wish to build a business in the country. A serious discussion with a tax lawyer and/or accountant in the country would be a wise action to take if you are considering moving to and living full time in Vietnam.

Worldwide Ventures - USA House Rentals & Real Estate
3280-55A Tamiami Trail, PMB 297
Port Charlotte, Florida, 33952, USA
Email: info@vietnamhouserentals.com