Events
On 23 March 2022, Ministry of Finance issued Official Letter No. 2688/BTC-TCT (“Official Letter 2688”) providing detailed instructions on Value Added Tax (“VAT”) for Decree No. 15/2022/ND-CP (“Decree 15”).
In this March issuance, we would like to keep you informed of some latest official clarification respecting Corporate Income Tax (CIT) and Value Added Tax (VAT).
With regards to the latest release of Resolution 43/2022/QH15, the Government has recently issued two official documents named Decree 15/2022/ND-CP stipulating the tax exemption and reduction policy and Resolution 11/NQ-CP on the Socio-Economic Recovery and Development Program setting out a solution supporting the recovery of enterprises, cooperatives, and business households.
We would like to bring you tax and legal updates for December 2021 with the following highlights influencing the corporate operations and payroll activities.
This March 2022 publication features Decree No. 15/2022/ND-CP on tax exemption and reduction policy under the National Assembly’s Resolution No. 43/2022/QH15. Besides, we also provide some instructions on how to cope with new regulations.
On 15 August 2017, the Ministry of Finance (“MOF”) held a press conference titled "Introduction of draft Law on amendments of five (05) tax laws". This project is part of the efforts of the MOF and the Vietnamese Government to restructure state budget revenue, ensure national financial security as well as to formulate a consistent tax policy in order to ease the difficulties for enterprises and be in line with international practice. As planned, the draft law is expected to be submitted to the National Assembly for approval in 2018 and will take effect as from 01 January 2019. The draft law has the following remarkable points:
Get to know us better with Mazars Corporate Brochure 2022 which provides you with an overview of who we are and the services we offer.
The guides are intended as an overview of general topics of interest to anyone looking to do business in Vietnam and Asia Pacific including items such as investment incentives, business structures available to foreigners, tax, labour and foreign exchange controls as well as general information about Vietnam and other countries in the region.
While February 2022 has seen very little drama on the corporate reporting front, the current situation in Ukraine provides a stark and appalling contrast. Although the situation is changing rapidly, companies that close their accounts after 24 February must start thinking now about the impacts of these events and of the first sanctions imposed on Russia. For those whose reporting period ended before 24 February but that have not yet authorised their financial statements for issue, a non-adjusting post-balance sheet event may need to be recorded in some cases.
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