1. What is tax consulting service?

Tax consulting service is a professional support service that helps businesses and individuals fulfill their tax obligations in compliance with applicable laws. It includes advising on tax policies, guiding tax declarations and payments, resolving arising tax issues, assisting with tax finalization, and representing clients in dealings with tax authorities.

Depending on specific needs, clients may choose to use tax consulting services on a regular basis or on a case-by-case basis, such as monthly tax declaration support, year-end tax finalization, or long-term tax planning advice.

2. What do tax consulting services in Ho Chi Minh City provide?

Tax consulting services in Ho Chi Minh City offer comprehensive support for both individuals and businesses to ensure full compliance with tax regulations while optimizing their tax strategies. Key areas of support include:

• Tax strategy planning: helping clients develop legal and effective strategies to minimize tax liabilities and maximize financial efficiency.
• Business restructuring advisory: providing guidance on how to restructure operations in a way that considers tax impact and improves overall business performance;
• Tax consulting: Providing information and answering questions regarding taxes payable by individuals and businesses; Providing advice on complex tax issues; Advising clients when they encounter tax issues;
• Tax declarations: assisting with the accurate preparation and submission of various types of taxes such as contractor tax, value-added tax, corporate income tax, and personal income tax…;
• Checking, reviewing tax documents: Ensuring the accuracy, legality of tax declarations before submitting to tax authorities.
• Tax finalization: supporting clients with year-end tax finalization procedures to ensure accurate reporting and compliance.
• Tax law update: Organizing seminars, training sessions, and providing updates on new provisions and amendments in tax law and regulations for clients.

3. Who should hire tax consulting services in Ho Chi Minh City?

Nowadays, in the face of fierce business competition and constantly evolving legal regulations, not only large corporations but also small and medium-sized enterprises and even individuals need tax consulting services in Ho Chi Minh City. These services help them stay updated in a timely manner, avoid unnecessary legal risks, and optimize their business performance.

Some typical groups that should consider hiring tax consulting services in Ho Chi Minh City include:

• Newly established businesses: During the initial stages of starting a business, owners often face difficulties in understanding and applying tax regulations. Tax consulting services in Ho Chi Minh City can assist by clarifying which types of taxes must be paid, applicable filing deadlines, available tax incentives, and guiding them through the proper setup and initial compliance procedures.
• Businesses expanding operations or changing industries: When a company scales up or shifts its business focus, it often leads to changes in the types of taxes payable, applicable tax rates, or tax management procedures. Professional tax consulting services in Ho Chi Minh City can help assess the impact of these changes and develop a tailored tax strategy that aligns with the new business model.
• Businesses with complex or specialized transactions: Companies involved in related-party transactions, international contracts, outbound investments, or mergers and acquisitions often require expert tax guidance. Tax consultants in Ho Chi Minh City can help analyze potential risks, ensure compliance with tax regulations, and minimize the chances of back taxes or penalties.
• Businesses undergoing tax audits or inspections: When tax authorities conduct audits or inspections, having a tax consulting service in Ho Chi Minh City by your side is crucial. These professionals can assist in preparing complete and accurate documentation, support the explanation process, and provide strategic advice to safeguard the company’s legal rights and interests.
• Businesses aiming to legally optimize costs: Many companies today unknowingly waste valuable resources due to a lack of timely understanding of tax regulations and failure to take advantage of tax exemptions, reductions, and incentives related to their business activities. Tax consulting services in Ho Chi Minh City can help businesses identify legal tax-saving opportunities, ensure full compliance with the law, and ultimately contribute to increased profitability.
• High-income individuals, those with multiple income sources, or cross-border workers: Individuals earning income from various sources—such as real estate, dividends, securities, or overseas income, often face challenges in determining their personal tax obligations. Utilizing tax consulting services in Ho Chi Minh City can help businesses understand applicable tax regulations, accurately declare personal income tax, and avoid back taxes or administrative penalties due to errors or late submissions.

4. Why do businesses need to use Ho Chi Minh City tax consulting services?

Currently, as tax policies in Vietnam are becoming increasingly complex, compliance with regulations not only helps businesses avoid legal risks but also optimize costs and business efficiency. That is why businesses should consider using tax consulting services in Ho Chi Minh City. Here are some benefits that can be mentioned as follows:

a. Save time and costs

Taxation has always been a “burdensome” matter for enterprises, as tax procedures are both complex and resource-intensive. Utilizing Ho Chi Minh City tax consulting services helps enterprises alleviate this burden, optimizing time, manpower, and costs so that they may focus on developing their core business activities.

b. Addresing tax issues

In Vietnam at present, the regulations on tax policies and tax accounting are very complex and frequently amended. If you are not an expert in the tax field, it’s hard for individuals to fully grasp the provisions of tax laws. Many businesses have violated the tax regulations, been fined and had to pay back taxes due to not promptly grasping the regulations, not knowing the provisions of tax laws or misunderstanding the regulations.

Tax specialists of Ho Chi Minh City tax consulting service can help clients solve tax issues, including tax registration, tax declaration, tax payment consolidation, and resolving tax disputes with tax authorities when settling taxes in accordance with the law.

c. Preventing tax risks

For foreign-invested enterprises, understanding Vietnamese tax regulations is crucial to avoid risks. Ho Chi Minh City tax consulting services will help enterprises understand the procedures, ensure full compliance with the law, thereby minimizing the risk of disputes and penalties.

d. Monitoring tax law compliance
As an owner and legal representative of the business, you do not know much about accounting, tax regulations, so how can you evaluate whether the tax accountant, chief accountant of your business performs tax procedures in accordance with regulations? Ho Chi Minh City tax consulting service will help you check tax reports, review the declaration - settlement process, help businesses rest assured that all procedures are carried out in accordance with the law.

e. Assessing tax cost before investing
You are preparing to invest, you are preparing to establish a business, you need to clearly understand tax regulations, tax procedure regulations so that you can plan tax costs, estimate costs and calculate the effectiveness of the investment project. With Tax consulting services in Ho Chi Minh City, businesses will be provided with cost estimates, analysis of applicable tax policies, thereby building a clear and sustainable financial plan.

5. What should you consider when hiring tax consulting services in Ho Chi Minh City?

To choose a reputable and high-quality tax consulting service provider in Ho Chi Minh City, clients should carefully consider the following factors:

• Reputation and experience of the provider: Research information about their years of operation, the number of clients they have served, and feedback or reviews from partners. A provider with many years of experience will have a solid understanding of legal regulations and know how to handle complex situations, helping your business avoid risks.
• Specific scope of work and responsibilities: Before signing a contract, clearly agree on which tasks the service provider will perform to prevent misunderstandings. The scope of work should be detailed in the contract.
• Transparent service fees: The service fees should be clearly quoted from the outset and specified in the contract. Clients should proactively estimate their costs and ask in advance about any potential additional charges (if any).
• Confidentiality of information: Financial data of a business or individual is highly sensitive information. Therefore, clients should pay close attention to including and clarifying confidentiality clauses in the service contract to protect their rights and interests.

6. Ho Chi Minh City tax consulting service packages

Depending on the scope of work and the specific requirements of each client, Phong & Partners and its reputable partners will offer service packages with reasonable fees, ensuring clear and transparent terms in all agreements with clients. You can refer to the specific service packages below to choose the most suitable solution for your business.

Package 1: Tax declaration

• Assisting clients in declaring taxes.
• Clients should use this service when they lack the expertise or do not have qualified personnel to perform tax declaration.

Package 2: Comprehensive tax consulting on a monthly/yearly basis

• Comprehensive monthly tax consulting is a service that supports businesses in managing and resolving monthly tax-related issues. This service includes providing advice and guidance on tax issues, helping clients prepare timely and accurate tax reports, identifying payable taxes, optimizing expenses and tax deductions, and resolving tax-related issues.
• Comprehensive monthly tax consulting is usually provided as a limited-term service package, in which clients will pay a fixed monthly fee to use the tax consulting service. This helps clients save time and effort in monthly tax management and ensure compliance with tax laws.
• Clients should use this service when businesses have regular transactions and need immediate advice.

Package 3: Case-by-case tax consultation

• It is to provide advice on tax-related issues in each specific situation.
• Clients should use this service when businesses have few transactions and need immediate advice.

7. Where to find tax consulting services in Ho Chi Minh City?

Currently, there are many providers offering tax consulting services in Ho Chi Minh City. However, not everyone is able to choose a reputable, experienced firm with a transparent and professional working process.

Phong & Partners Law Firm is proud to be one of the entities trusted and selected by numerous individual and corporate clients to entrust responsibilities in the fields of legal services and tax consulting in Ho Chi Minh City in particular, and nationwide in general. With a team of experienced lawyers and tax consultants who possess in-depth knowledge of the law and continuously update regulatory policies, Phong & Partners is confident in effectively assisting with all needs related to tax consulting services in Ho Chi Minh City, as well as matters concerning finance, contracts, and other necessary legal procedures for business operations.

With the motto “PRESTIGE – DEDICATION – PROFESSIONALISM,” Phong & Partners and our trusted partners are committed to delivering high-quality tax consulting services in Ho Chi Minh City. We ensure a transparent, efficient, and attentive process, allowing clients to feel confident and focus on growing their business.

Learn more about other services from Phong & Partners at: www.phong-partners.com

8. Related questions

8.1. In addition to tax consulting services, do you provide accounting services for enterprises?

es. In addition to tax consulting services, we also assist clients with accounting services for enterprises. For more detailed information about our accounting services, please refer to:

https://phong-partners.com/en/accounting-services-in-da-nang

8.2. I am a foreign national currently working in Vietnam. Can you provide advice and support regarding my personal tax obligations?

Yes. With a team of experienced lawyers and tax consultants, Phong & Partners can provide tax advisory services for both domestic and foreign individuals and organizations, ensuring compliance with personal tax obligations in Vietnam in accordance with applicable laws and regulations.

8.3. In what forms do you provide tax consulting services?

Phong & Partners provides tax consulting services in multiple forms, flexible according to client needs, including:

• Online consultation via social media and communication platforms such as phone, Zalo, WhatsApp, Google Meet, etc.;
• Direct consultation at Phong & Partners’ offices (branch system);
• Written consultation responses.