Mazars in Vietnam Newsletter - Tax & Legal Update - Issue July 2022

I. Operational updates

1. Official Letter (“OL”) 1581/TCT-CS on Corporate Income Tax (“CIT”) incentives for investment projects
2. Official Letter 1585/TCT-CS and Official Letter 438/TCT-CS on Value Added Tax (“VAT”) and Corporate Income Tax (“CIT”) for sponsorship expenses of Covid-19 epidemic prevention
3. Official Letter 1718/CTBNI-TTHT on the declaration of VAT and using invoice when Enterprise Processing Export (“EPE”) sells goods to the domestic market
4. Official Letter 1269/TCT-KK on the processing of tax code issued to business location of the enterprise in accordance with Official Letter 3200/TCT-KK
5. Official Letter 1736/CTBNI-TTHT on deductible expenses for tuition fees for foreign employees’ children studying in Vietnam

II. Payroll updates

1. Official Letter 2455/TCT-DNNCN on the implementation of e-invoices, e-receipts and e-PIT withholding vouchers
2. Official Letter 717/CTBNI-TTHT on CIT and PIT applied for expenses paid to employees

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Disclaimer:

We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.

OUR SUPPORT

For regulation changes and tax matters, we can provide you with assistance on:

• Registration, declaration of Personal Income Tax, Corporate Tax, VAT and Foreign Contractor Tax.
• Tax refunds assistance and representation.
• Consultancy on utilizing opportunities provided by transfer pricing.
• Customs advisory: Compliance & reporting; FTA and C/O; Harmonised System code classification and valuation; Inventory control; International trade arrangement; and Others.