Tax Specialist

A. Tax review & Implementation / Set-up

1. Tax Returns Review
 Review the monthly/quarterly/annually Tax Returns prepared by the Accounting/HR Department;
 Advise the list of expense (invoices) shall not be treated deductible expense due to non-related to business for adjusting the returns;
 Propose the list of input invoices, without Policy support, which can be supplemented by the Company Policy to claim Input VAT;
 Finding out the risk of Under-declaration of output VAT as stipulated by Tax laws, caused by inconsistency amongst Accounting Books, Draft VAT return and Inventory;
 Similar to the above, review any risk of Over-declaration of output VAT as stipulated by Tax laws, caused by inconsistency amongst Accounting Books, Draft VAT return and Inventory

2. Tax Procedure Set-up/Implementation
Develop/redesign tax procedure, which are applied in the reviewed period by the Company and exposing potential tax risk, to mitigate tax risk for Company, which cover the following set-up and implementation for expense, revenue, tax liabilities.
2.1 Expense
– Formality of invoices;
– Expense record procedures,
– Tax supporting documents: Promotion campaign process/documentation, claiming forms, business request, payment vouchers, contracts, policies; New construction or project procedures;
– Policies and Other supporting procedures for proving expenses relating to the Company’s business purpose, including Advertising and Promotion expenses, Employment cost (including salary, benefit in-cash/in-kind and bonus), Business trip, Inter-company charges, Depreciation, Allocation, Provision and Other incurring expenses.
2.2 Revenue
– Formality of invoices;
– Related supporting documents: policy for issuance of invoice, sale policy, other income policy, promotion campaign compliance procedure, other related policies, contract, receipt vouchers;
– Revenue record procedures, other income record procedures, Applicable tax rates;
– Revenue reduction record procedures;
– Temporary difference, Permanent difference and Revenue reconciliation amongst Accounting books, CIT returns and VAT returns.
2.3 Input/ Output
– Invoices corresponding to activities subject to VAT: Credit declaration within a number of a certain month (i.e. 6 months) and Payment made via a bank;
– Input VAT: Related supporting documents: claiming forms, business request, payment vouchers, contracts, policies; New construction procedures;
– Output VAT: Applicable tax rates; Related supporting documents: Promotion campaign process/documentation, policy for issuance of invoice, sale policy, other income policy, promotion campaign compliance procedure, other related policies, contract, receipt vouchers;
– Link amongst original invoice, payment or expense/revenue/other income transaction and VAT return.

B. Tax Assistance and Payments:

 Review the non-statutory invoices;
 Review the non-deductible expense, including fixed assets depreciation, accruals, provisions, A&P expense, employment cost and other related expenses;
 Discuss with the Accounting Team on the Company’s expense, revenue and other related matters, where necessary; Discuss with the Department-in-charge to understand the nature of provided income package;

 Review on the related Contracts signed between the Company and the foreign contractors, discuss with the personnel-in-charge to understand/clarify the nature of each Contract and transaction ;
 Review the Company’s employment cost in accounting books to find out any benefit-in-kinds and allowances paid to employees and subjected to PIT; Review the sample Assignment Letters/Labor Contract of the Company’s expatriate and Vietnamese employees;
 Propose the list of the supporting documents (i.e. Policy, Contract’s wordings) in order to maximize tax deduction;
 Review the monthly/quarterly/annually Tax Returns which are submitted to the local Tax Authorities and prepared by the Accounting and HR Team:
- Review the Tax Treatment (VAT, CIT, FCT, PIT) as provided by the applicable law;
- Check the Computation of tax liability;
- Recommend for final adjustments on the Tax Returns;
- Submit the Tax returns to the local Tax Authorities;
- Advise the Accounting/HR Team the monthly/quarterly/annually Tax payable.
 Attend the meetings with the tax authorities or Tax Audits to respond any queries which may be raised by the tax authorities.

C. Tax Advisory/ Planning on Business Model
Advisory/Planning on Business for Current and New Investment:
 Study the legal basis, industry and operations of the Company;
 Frequently discuss with the Management to obtain updates of the Company’s operation;
 Monitor Laws and related regulations, which may affect on the Company’s business operation;
 Advise the Management on impact and benefit arising by the new laws or/and the updated regulations;
 Draft ruling to seek the favorable response from the local tax authorities on the new laws or/and the updated regulations, related to the Company’s operation;
 Provide the Management in-depth answers on any issues/matters of the Company, analysis or consideration on Vietnamese tax and regulatory matters related to the Company;
 Review Contracts, Policies and recommend revisions to mitigate tax risks;
 Upon noticed by the Management for new investment, provide in-depth analysis on the Company’s business plans or transactions and recommendation for optimizing Tax savings and mitigating potential challenges by the Tax Authorities to the Management;
 Upon agreed by the Management, preparing the letter to the relevant Authorities or/and employ professional firms to obtain special ruling/policy or favorable reply for Tax appeal.
 Liaison with External Consultant for support to necessary cases.

D. Presentation to Board

 Update of Impact Regulation to the Board through BOD Meeting;
 Monitor and report Tax Policies Affecting to Company’s Industry;
 Recommend the related solutions

E. Other
 Promote positive relations with principals, partners, vendors and distributors
 Act in accordance with Company Policies, Procedures, prevailing Law and Legislation governing acceptable standards of Behavior, Personal Conduct, Health, Safety, Compliance and Environmental issues and within the requirements of the Principal.


Note:- the Principal Accountabilities include, but are not limited to, all the above