MAZARS APAC PAYROLL NEWSLETTER – QUARTER 2 – 2020
In the second edition of our APAC Payroll Newsletter, we have both general updates and COVID-19 measures announced across Asia-Pacific. For the very latest news please follow the links provided to the Mazars’ websites in the respective countries.
Keywords: Mazars, Vietnam, APAC, COVID-19, Payroll, HR, Updates
10 July 2020
Countries covered include:
- Hong Kong
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Vietnam Tax & Legal Updates
Decree 68 on the deductibility of interest expense
On 24 June 2020, the Government issued Decree No. 68/2020/NĐ-CP ("Decree 68") amending Clause 3, Article 8 of Decree No. 20/2017/ND-CP (“Decree 20”) with regard to the deductibility of interest expenses incurred by companies having related-party transactions. Following up, on 14 July 2020, the Ministry of Finance issued Official Letter No. 2835/TCT-TTKT ("OL 2835") providing further guidance on the application of Decree 68.
Mazars in Vietnam Newsletter - Issue July 2020
We would like to bring you tax and legal updates for July 2020 with the following highlights influencing the corporate operations and payroll activities:
Tax Alert - CIT Reduction for the fiscal year 2020
On 19 June 2020, The National Assembly approved Resolution 116/2020/QH14 on the reduction of Corporate Income Tax ("CIT") for the fiscal year of 2020 for enterprises, co-operatives, public services organizations, and other organizations.