VIETNAM TAX & LEGAL UPDATES AND ALERTS

You will find here all the issues of our "Vietnam Spotlight" newsletter related to the recent Tax & Legal Updates.

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Vietnam Spotlight Newsletter - November 2010

Topics covered:
+ PIT for Bonus Shares to Employees
+ PIT Compliance for Short-Term Foreign Experts
+ Cost Reimbursements by Foreign Contractors not Subject to FCT
+ Template of CIT Declaration Form for Foreign Contractors
+ New Decision on Tax Invoices
+ Changes on Registering and Issuing PIT Code
+ Tax Administration Procedures on the Law on Tax Administration and Law on Personal Income Tax Amended
+ New Circular guiding on Overseas Profits Remittance by Foreign Investors
+ New Guidance for the Law on Enterprises

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Vietnam Spotlight Newsletter - December 2010

Topics covered:
+ Tax Reform Update
+ Tax Treatment for Brokerage Services
+ VAT Treatment on Transfer of Workshop to Export Processing Enterprises
+ New Guidance on Dutiable Prices of Imported and Exported Goods
+ New Tariff for Imported Automobiles
+ New Statistic Reporting Requirement
+ Mining Update

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Vietnam Spotlight - Special edition #1 - Jan 2009

As a consequence of the new Law on Value Added Tax and Law on Corporate Income Tax with effective from 1 January 2009, the Ministry of Finance on 31 December 2008 issued a very important tax regulation: Circular No. 134/2008/TT-BTC (“Circular 134”).

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Vietnam Spotlight - Special edition #2 - Jan 2009

In attempts to release urgent and important measures for preventing economic decline and maintaining the economic growth, the Vietnam Ministry of Finance issued Circular 03/2009/TT-BTC (“Circular 03”) on 13 January 2009 to provide the discount and delay of Corporate Income Tax (“CIT”) schemes for eligible enterprises in Vietnam.

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Vietnam Tax Calendar for 2009

This one-page flyer presents the key dates to remember in 2009 in Vietnam for your tax declarations and payments.

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Vietnam Spotlight - Newsletter - Jan 2009

Topics covered:
- New Regime on Corporate Income Tax and Value Added Tax in Vietnam
- Vietnam and Hong Kong signed tax treaty

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Vietnam Spotlight - Newsletter - Feb 2009

Topics covered:
- Value Added Tax reduced by 50% for certain goods and services from 01 February 2009
- Value Added Tax refund relaxed for export enterprises
- 2009 Corporate Income Tax payments postponed for 09 months
- Personal Income Tax payment postponed from 01 January 2009 to 31 May 2009

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Vietnam Spotlight - Newsletter - August 2009

Topics covered:
- Personal Income Tax Exemption Confirmed;
- Input Value Added Tax Credit Clarified;
- Value Added Tax for Agents;
- Value Added Tax for Painting Services Provided to International Transportation Carriers;
- Reduction and Deferment of Corporate Income Tax Payment;
- Corporate Income Tax Incentives for Mineral Mining Operations;
- Re-registration Extended;
- New Health Insurance Rule.

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Vietnam Spotlight - Newsletter - September/ October 2009

Topics covered:
- No Personal Income Tax for Real Estate Transfers before 26 September 2009;
- Personal Income Tax Reduction for Individuals Working inside Economic Zones in Vietnam;
- Personal Income Tax for Casino Players;
- Foreign Exchange Differences of Account Payables in Foreign Currencies;
- Declaration of Dutiable Prices and Declaration Guidance;
- Security and Safety Requirement for Conditional Businesses;
- Compulsory Health Insurance for Foreigners in Vietnam;
- Work Permits for Foreigners in Vietnam.

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Vietnam Spotlight - Newsletter - November 2009

Topics covered:
- Foreign Contractor Tax’s Hybrid Method Re-introduced
- Personal Income Tax on Bonus Stocks and Stock Options
- Personal Income Tax Exemption for Expatriates Working for ODA Projects in Vietnam
- Guidance on Withholding of VAT and Issuance of VAT invoices by Vietnamese Agents with respect to Fees Collected on behalf of Foreign Forwarding, Logistics and Express Transportation Companies
- New Regulation on Management, Use and Depreciation of Fixed Assets
- Treatments on Exchange Rate Differences
Registration of Import Duty Exemption for Fixed Assets
- Tax Audits and Inspections Re-enforced
- Minimum Wages for Vietnamese Workers at Foreign Invested Enterprises

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