Currently, Vietnam's value-added tax law is divided into three products, services and goods that are subject to value-added tax, including: Subject to zero percent value-added tax (0%). Subject to five percent value-added tax (5%). Subject to ten percent value-added tax (10%).

In topic II, we have learned the difference between consolidated and separate reports. Today, we learn topic 3 - Consolidated financial statement preparation. Firstly, we explore the school of consolidated financial statements in accounting. We temporarily use the word “school” to remember easily. There are two schools of consolidated financial statements that are commonly used in practice. The first school: step 1 is separating items in the reports of the subsidiary, which is owned by the parent company; step 2 is adding the reports of the parent company to the report of the subsidiary. This school had been applied when consolidation standards had not yet developed, consolidation regulations had been simple and limited in one country.

Financial Derivatives || AS Audit - Financial derivatives are financial instruments whose value depends on an underlying asset, which has been previously issued.

Borrowing and lending is common in businesses, depending on the purpose of using cash flow, the owner will decide the finance in the business. Today, we will not discuss about financial management in using loans and borrowing, but in this topic, we will only consider the tax risk of lending and borrowing. We would like to summarize some risks which often occur in practice are recognized as follows: There are three key issues: The first, the issue is interest expense when determining taxable income:

Business managers and accountants often feel uncomfortable when their business profit and loss results are always different from the tax agency's profit and loss results when finalizing corporate income tax. The reason for this difference is due to the difference between the income and expense recognition basis of accounting and the tax income and expense basis. The difference that creates this difference is called a temporary difference or a permanent difference. The contents of the temporary difference and the permanent difference are presented as follows:

Tax topics are often difficult to understand, today I want to share with you the history of the Value Added Tax. In the nineteen fifty-four (1954), the French economist, Maurié Lauré devised the value-added tax, at this time he was the director of the French tax office. After that, the French government imposed a value-added tax, on April tenth, nineteen fifty-four (April 10, 1954) at large enterprises in France. In the beginning, value-added tax played an active role in national revenue, and achieved social compliance, so this matter spread from France to other countries.

When we talk about "Tax Haven", we think about countries or territories with minimal or no tax liability. So what do individuals and businesses come to “Tax Haven” to do? For individuals: "Tax Haven" helps individuals to legalize the amount of money from non-transparent money sources from elsewhere into transparent money sources with the lowest cost. For businesses: "Tax Haven" helps businesses transfer pricing to optimize tax costs.

My friends and I who were in the same lecture hall were engaged in the audit profession. Five years since graduation is enough for us to feel the favors and pressures that the profession brings. Now I am writing to describe my feelings about the audit profession. I would like to talk about eight points relating to the audit profession.

Today we will learn about the salary allowances that are not subject to personal income tax. Everyone who goes to work is entitles to receives salary, in addition to salary, we are also entitled to receive allowances of a salarys and remunerations. Everyone knows that receiving salary and receiving allowances from salaries and bonuses, they must pay taxes after deducting for themselves eleven million and for their dependents four million fourteen million a month. But not everyone has any personal income tax-free salary allowances. Especially, the salary accountants also need to know to calculate the correctness and adequacy for the employees in their businesses.