Mazars Vietnam Tax and Legal Updates July 2015 part 2

We are pleased to send you our Vietnam’s Tax and Legal Update for July, which we have wholly dedicated for the recent and important guidances on Personal Income Tax. Particularly, included in this edition:

-          The Ministry of Finance released Circular 92/2015/TT-BTC dated 15 June 2015 providing specific guidance on taxes (Value Added Tax and Personal Income Tax) for individuals having business activities. Also in this Circular, the MoF has provided a number of amendments on some PIT provisions under Circular 111/2013/TT-BTC and Circular 156/2013/TT-BTC.

-          Just recently, the General Department of Taxation has issued Official Letter 2977/TCT-TNCN dated 23 July 2015 confirming the prevailing policies on PIT exemption and reduction, and the legal basis, which could be a good reference for companies and individuals in determining the PIT position in such cases.

We hope that you may find these updates relevant and useful for business. Please feel free to contact our team should you need further clarifications or assistance.