We would like to bring you tax and legal updates for April 2021 with the following highlights influencing the corporate operations and payroll activities.
- Official letter 153/TCT-CS providing guidance on Corporate Income Tax ("CIT") on the payment for life insurance that the company provides to its clients as promotional gifts
- Official letter 599/TCT-KK providing guidance on Value Added Tax ("VAT") declaration, notification of invoice issuance and invoice use report for business locations located outside the headquarters’ province/city
- Official letter 1938/BTC-TCT guiding the effectiveness of Circular 156/2013/TT-BTC and other Circulars providing guidelines on the old Law on Tax administration
- Official letter 13/TCT-CS providing guidance on invoice issuance for asphalt businesses
- Official letter 71/TCT-CS providing guidance on Foreign Contractor Tax (“FCT”) in case a foreign company transfer goods assigned for processing and contract signed with a Vietnam company to another foreign company
- Official letter 317/CTBNI-TTHT and Official letter 352/CTBNI-TTHT providing guidance on Personal Income Tax ("PIT") on quarantine expenses paid by the company on behalf of expatriates
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.
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.