Tax Outsourcing in Vietnam: The Major Benefits

Outsourcing your taxes to BPO agencies can help you stay compliant with Vietnam tax laws while saving on overhead costs.

Partnering with or outsourcing to tax professionals and letting them handle tax functions can help you stay compliant with Vietnam tax laws, as well as keeping your business focused on what it does best.

As your business is getting bigger, you need to pay attention to tax outsourcing that will allow you to have more time to deal with your growing competition as well.

Read More About Cekindo’s Corporate Tax & Compliance Services for Foreign Firms 

For many businesses, tax-related activities are always tedious and burdensome especially during tax season. Most of the time, companies do not have the qualified staff to keep sufficient control over their tax processes.

It puts even more pressure on companies as the tax laws are going through a constant change in Vietnam and the majority of companies struggle to comply with Vietnam tax regulations.

In Vietnam, a company must submit corporate tax statements on a monthly, quarterly and annual basis. Tax statements submission is mandatory and must be done on-time, regardless of whether your company has any tax liabilities or business activities.

The following points in this article showcase the major benefits of tax outsourcing in Vietnam.

Benefits of Tax Outsourcing in Vietnam

1. Save Time and Enhance Productivity

Tax processing is considered one of the most time-intensive tasks in most enterprises. Every year, many labour hours are spent in preparing and processing taxes in order to ensure their accuracy.

When you outsource your tax functions, it can free up your employee’s schedule and let them put their time on more rewarding tasks of your business.

Tax functions require a great deal of attention and time in order to achieve complete accuracy – choose a highly experienced professional to help you out and make sure your taxation tasks are completed within a specific time frame with full compliance.

RELATED: The Right Way to Manage Corporate Income Tax in Vietnam

2. All Data at Your Fingertips

Data collection and organisation is critical for tax preparation and filing. However, once tax season is here, your in-house tax personnel may not have the capacity to take care of all the tax functions meticulously, and thus mistakes are inevitable.

However, you do not have to encounter this type of problem if you opt for tax outsourcing. Reputable tax outsourcing firm will ensure all your customer, vendor and tax data are properly gathered and well-organised.

3. Access to Experienced Tax Experts

You do not have to hire full-time employees and train them for a significant amount of time to handle all tax processes. By partnering with a tax outsourcing firm, you will have access to a team of tax specialists who know the tax regulations and obligations inside out and can solve your complicated tax issues.

4. Enhanced Security with the Latest Software and Technology

Tax matters are sensitive and confidential. Therefore, you need to make sure that you have someone who can make sure all corporate tax information is kept secure and private. If your tax information is passed onto anyone by accident, it could be disastrous to your organisation.

By outsourcing tax and accounting work to experts, you will have a peace of mind knowing that all your business information are safeguarded with the most advanced software and technology.

Related article: HR Outsourcing and How it Impacts Business Performance

Tax Outsourcing in Vietnam with Cekindo

Cekindo believes the future of tax and accounting is changing. Companies now look to tax outsourcing for more than just being compliant to Vietnam tax laws – they need real-time assistance to grow their businesses.

At Cekindo, our proven tax outsourcing model is your answer. We have a team of qualified and experienced tax consultants ready to take on all of your taxation work at an affordable cost.

Tax outsourcing from Cekindo is not about replacing your existing employees; it’s about proving your employees the space and resources to focus on the necessary requirements of both your business and your clients.

Freedom from the unceasing burden of tax compliance work allows you to spend more time on training and enhancing the skills of your team.

Are you ready to embrace the change? Contact Cekindo to understand how to take the first step toward transforming your business in Vietnam through tax outsourcing by filling in the form below.

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Tomas Svoboda - Cekindo - Vietnam Country Manager

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Ing. Tomas Svoboda

Tomas is the co-founder & Chief Business Development Officer responsible for Vietnam. His role is to define the key potential of the Vietnamese market and to ensure that Incorp's branch in Vietnam provides its clients with smooth and hassle-free market entry solutions.