Mazars Vietnam Spotlight Newsletter - January 2012

Topics covered:
+ Further three-month extension for Corporate Income Tax (CIT) payment for the 1st and 2nd Quarters of 2011
+ Guidance on 2011 Personal Income Tax (PIT) Finalization
+ Value Added Tax (VAT) and Import Duty on materials imported under processing contracts which are damaged due to fires
+ Amendment and supplements to Decree 26/2009 on Special Consumption Tax (SCT)
+ Taxable Prices - SCT & VAT for goods subject to environmental tax from 1 January 2012
+ Rates of social insurance contributions from 1 January 2012
+ Business License Tax 2012
+ Guidance on the recruitment and management of foreigners working in Vietnam
+ Calculation of fixed asset depreciation - Difference resulting from revaluation of fixed assets