Contacts

On 12 December 2019, the Draft Decree amending and supplementing to Clause 3, Article 8 of Decree 20/2017/ND-CP was published by Ministry of Finance, with the main notable points as follow:
On 08 November 2019, GDT issued OL 4593/TCT-KK guiding the case where exported goods are returned after settlement of VAT refund. In this case, the Company must make a supplemental tax declaration for the period in which the returned goods were previously declared as exported. In addition, the refunded VAT corresponding with the said exported revenue must be returned together with the interest on late payment according to the regulations.
According to OL 2724/CT-TTHT issued by Bac Ninh Tax Department on 19 November 2019, in case the Company registers additional business activities which are already included in the initial application dossier, however are not presented on the first IRC due to not yet fulfilling the required conditions, such registered business activities shall be considered the business activities of the initial investment project and are entitled to CIT incentives as for the new investment project.
On 15 November 2019, the Government issued Decree 90/2019/ND-CP on region-based minimum wages applicable to employees working under labour contracts, which shall take effect from 01 January 2020, as follows:
The list of Regions I, II, III and IV are prescribed in the Appendix enclosed with this Decree.
According to OL 4641/TCT-DNNCN issued by General Department of Taxation ("GDT") on 12 November 2019, employment income generated from working night shifts and overtime that is paid higher than normal working hourly rate shall be exempted from PIT, provided that the number of overtime hours are within the limit stipulated in Article 106 of the Labour Code.
We do trust the above points are notable and sufficient, but should you have any question or need a deeper discussion on this issue, please do not hesitate to contact us.
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