TAX UPDATES

• VAT rate when providing repair services to export processing enterprises if there is no customs documents
• Guidelines to identify the related party which only made the loan
• Deductible expenses, PIT for expenses related to the Covid-19 epidemic
• Guidance on sanctioning administrative violations on taxes and invoices
• Revenue under 100 million VND/year is not subject to VAT and PIT
• Guidance on CIT policy for the purchase and vaccination against Covid-19 for employees
• Guidance on loan interest expenses in enterprises with related party transactions

BUSINESS UPDATE

• Update Decree 80/2021 guiding the Law on Supporting Small and Medium Enterprises

English version: Newsletter - August 2021 (PDF)
Vietnamese version: Newsletter - August 2021 (PDF)...

TAX UPDATES

• PIT declaration in case there is no income payment
• Tax incentives for investment projects located in industrial parks located in both favorable and unfavorable areas
• Guidance on the application of the advanced pricing agreement (APA) in tax administration for enterprises with related-party transactions
• Guidance on VAT, PIT and Tax Administration for Business Households and Individuals

INVESTMENT UPDATE

• Guidance on monthly salary for compulsory social insurance payment in 2021
• Guidance on the social insurance support package for businesses and employees affected by the Covid-19 epidemic

English version: Newsletter - July 2021 (PDF)
Vietnamese version: Newsletter - July 2021 (PDF)...

TAX UPDATES

• Deductible expenses for overtime spending in excess of the norm
• PIT declaration in case no income payment is generated
• VAT, PIT and tax management for business households and individuals
• CIT incentives for projects producing supporting industry products
• Additional subjects subject to VAT rate of 5%

INVESTMENT UPDATE

• New form in business registration from May 1st, 2021

English version: Newsletter - June 2021 (PDF)

Vietnamese version: Newsletter - June 2021 (PDF)...

TAX UPDATE

• Guidelines for determining deductible expenses for contract compensation expenses due to unqualified goods
• Guidance on tax incentives in case of income from commercial activities outside the preferential areas
• Guidance on keeping accounting records in case the accounting vouchers are invoices in a foreign language
• Guidance on determining the revenue to apply corporate income tax reduction according to Decree 116/2020/QH14 in case enterprises have branches
• Guidance on tax incentives in case incomes from additional industries do not increase capital, do not expand or upgrade

INVESTMENT UPDATE

• Regulations on the bank account registration with the Department of Planning and Investment

English version: Newsletter - May 2021 (PDF)
Vietnamese version: Newsletter - May 2021 (PDF)...

TAX UPDATE

• Recommendation on electronic invoice data components
• The deductible expense for supporting and sponsoring the prevention of Covid-19
• Amendment, supplement and guidance on the implementation of the Law on Import and Export tax
• Eligibility of hi-tech enterprises
• Guidance on electronic tax transactions

LABOR UPDATE

• Adjustment to increase salary for compulsory insurance

INVESTMENT UPDATE

• Detailed provisions and guidance on the implementation of a number of articles of the Investment Law

English version: Newsletter - April 2021 (PDF)

Vietnamese version: Newsletter - April 2021 (PDF)...

TAX UPDATE

• Guidance on implementation of corporate income tax (“CIT”) finalization in 2020
• Guidance on implementation of personal income tax (“PIT”) in 2020
• CIT exemption and deduction applied to science and technology enterprise
• Tax policy for the mould of EPE lent to domestic enterprise
• Tax policy to goods imported for exported production
• Guidance on PIT declaration for income payers who are not subject to VAT declaration

English version: Newsletter - March 2021 (PDF)

Vietnamese version: Newsletter - March 2021 (PDF)...

ENTERPRISE UPDATE

• Enterprise Law No. 59/2020/QH14 dated June 17th, 2020 of the National Assembly (effective from January 1st, 2021)
• Decree No. 01/2021/ND-CP dated January 4th, 2021 of the Government on business registration

TAX UPDATE

• Circular No. 105/2020/TT-BTC dated December 3rd, 2020 of the Ministry of Finance guiding on tax registration (effective from January 17th, 2021)
• Circular No. 06/2021/TT-BTC dated January 22nd, 2021 of the Ministry of Finance guiding the implementation of articles in the Tax Administration Law dated June 13rd, 2019 applied to exports, imports (effective from March 8th, 2021)
• Official Letter No. 271/TCT-TTKT dated January 27th, 2021 of General Department of Taxation on introduction new regulations of the Decree No. 132/2020/ND-CP

English version: Newsletter - February 2021 (PDF)

Vietnamese version: Newsletter - February 2021 (PDF)...

LABOR UPDATE

• Circular No. 10/2020/TT-BLĐTBXH dated November 12th, 2020 of Ministry of Labor, Invalids and Social Affairs regulating and guiding on the principles of the Labor Code about labor contract content, collectively bargaining about jobs that can negatively influence to reproduction function
• Decree No. 145/2020/ND-CP dated December 14th, 2020 of the Government regulating and guiding some articles of the Labor Code on working conditions and labor relations
• Decree No. 152/2020/ND-CP dated December 30th, 2020 of the Government on foreign workers working in Vietnam and recruitment and management of Vietnamese workers working for foreign employers in Vietnam (effective from February 15th, 2021)

TAX UPDATE

• Official Letter No. 5032/TCT-CS dated November 26th, 2020 of General Department of Taxation about expenditures on quarantining foreign experts serving prevention and control of Covid-19
• Resolution No. 178/NQ-CP dated December 12th, 2020 of The Government on the regulation meeting in November 2020 about import tax exemption for production of exported products
• Official Letter No. 8115/TCHQ-TXNK dated December 28th, 2020 of General Department of Vietnam Customs on treating tax of goods temporarily exported, re-imported

CUSTOMS REGULATION UPDATE

• Decree No. 128/2020/ND-CP dated October 19th, 2020 of the Government on penalties for administrative customs offences

English version: Newsletter - January 2021 (PDF)

Vietnamese version: Newsletter - January 2021 (PDF)...