Mazars in Vietnam Newsletter - Tax & Legal Update - Issue May 2023

I. Operational updates

1. Official Letter No. 786/TCT-CS issued by the General Department of Taxation dated 20 March 2023 guiding the tax policy in case the Company sells goods via distributors and retailer, not directly to the end-customers
2. Official Letter No. 940/TCT-CS issued by the General Department of Taxation dated 27 March 2023 guiding the implementation of Decree No. 92/2021/ND-CP on CIT reduction according to Resolution No. 406/NQ-UBTVQH15 for enterprises converting its fiscal year
3. Official Letter No. 819/CTBNI-TTHT issued by Bac Ninh Province Tax Department dated 22 March 2023 providing guidance on the application of CIT incentives for differences regarding the exchange rate of the new investment project in Industrial Park
4. Official Letter No. 5156/CTBDU-TTHT issued by Binh Duong Province Tax Department on 21 March 2023 providing tax policy regarding new investment projects in Industrial Parks
5. Official Letter No. 14845/CTHN-TTHT issued by Ha Noi Tax Department dated 27 March 2023 guiding value added tax (“VAT”) policy regarding transfer of right to use Internet domain
6. Official Letter 19297/CTHN-TTHT issued by Ha Noi Tax Department dated 06 April 2023 guiding the PIT policy regarding certificate exam fees 
7. Official Letter 1483/TCT-KK issued by the General Department of Taxation dated 24 April 2023 guiding the provincial and centrally-run cities tax departments, and Department of Large Enterprise Tax Administration on the implementation of tax collection and payment according to the tax payable identification number (“ID”)

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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.

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