VIETNAM TAX & LEGAL UPDATES AND ALERTS
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Tax & Legal Newsletter
You will find here all the issues of our "Vietnam Spotlight" newsletter related to the recent Tax & Legal Updates.
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Customs Alert - New guidance on tax treatment for export-production model with outsource processing
Following the Government's Resolution No. 178/NQ-CP dated 12/12/2020, on 23/02/2021 the General Department of Customs (“GDC)” issued Official Letter No. 879/TCHQ-TXNK guiding the tax treatment for imports being materials used for export-production in which part of the production process is being outsourced to 3rd party vendor.
Tax & legal alert - Decree 152 regarding foreign employees working in Vietnam
On 30 December 2020, The Government promulgated Decree No. 152/2020/ND-CP regarding foreign employees working in Vietnam (“Decree 152”). Decree 152 is effective from 15 February 2021 and replaces Decree No. 11/2016/ND-CP (as amended by Decree No. 140/2018/ND-CP).
Customs Alert - Circular No. 07/2021/TT-BTC on deadline for C/O submission under EVFTA
On 25/01/2021, the Ministry of Finance issued Circular no. 07/2021/TT-BTC ("Circular 07") providing guidance on the deadline to submit Certificate of Origin (“C/O”)(1) for goods imported into Vietnam under EU-Vietnam Free Trade Agreement (“EVFTA”).
Mazars in Vietnam Newsletter - Customs Update - Issue January 2021
We would like to bring you notable customs updates for January 2021 with the following highlights influencing the corporate operations activities:
Tax alert - Decree 145 guiding provisions of Labor code 2019 on labor conditions and labor relation
On 14 December 2020, the Government promulgated Decree No. 145/2020/ND-CP detailing and guiding the implementation of a number of articles of the Labor Code regarding labor conditions and labor relation (“Decree 145”). Such Decree provides for labor management, labor contract, labor outsourcing, dialogue at workplace, salary, working hour & rest hour, labor discipline & material liability, female employees & gender equality, domestic worker and labor dispute.
Tax Compliance Calendar 2021
For the upcoming 2021, we are delighted to offer this “Compliance Calendar 2021” in English and Vietnamese with the hope to help enterprises not missing any important deadlines. The issues include periodic requirements of tax and labour compliance as stipulated in the latest legal documents.
Please kindly find the bilingual calendar in the Downloads section below and let us know if you have any questions about the deadlines or would like assistance in meeting them.
Please kindly find the bilingual calendar in the Downloads section below and let us know if you have any questions about the deadlines or would like assistance in meeting them.
Mazars in Vietnam Newsletter - Tax & legal updates - December 2020
We would like to bring you tax and legal updates for December 2020 with the following highlights influencing the corporate operations and payroll activities:
Tax alert - Decree 132 on tax administration for companies having transactions with related parties
On 05 November 2020, the Vietnam Government issued Decree 132/2020/ND-CP (“Decree 132”) on tax administration for companies having transactions with related parties. In comparison with preceding regulations on transfer pricing (“TP”) (including Decree 20/2017/ND-CP (“Decree 20”), Circular 41/2017/TT-BTC (“Circular 41”) providing guidance on the implementation of Decree 20, and Decree 68/2020/ND-CP (“Decree 68”) amending Article 8, Clause 3 of Decree 20 on loan interest expense deductibility for companies that have transactions with related parties).
Decree 132 takes effect from 20 December 2020 and is applicable to CIT period 2020 onwards, replacing Decree 20 and Decree 68.
Decree 132 takes effect from 20 December 2020 and is applicable to CIT period 2020 onwards, replacing Decree 20 and Decree 68.
Mazars in Vietnam Newsletter - Customs Update - Issue December 2020
We would like to bring you notable customs updates for December 2020 with the following highlights influencing the corporate operations activities:
Mazars in Vietnam Newsletter - Tax & legal updates - November 2020
We would like to bring you tax and legal updates for November 2020 with the following highlights influencing the corporate operations and payroll activities: