Vietnam tax & legal updates
You will find here all the issues of our "Vietnam Spotlight" newsletter related to the recent Tax, Legal and Accounting updates.
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Circular 45 guiding the application for the Advance Pricing Agreement on tax administration
On 18 June 2021, the Ministry of Finance issued Circular 45/2021/TT-BTC (“Circular 45”) providing guidance on the implementation of Article 41 of Decree 126/2020/ND-CP (“Decree 126”) dated 19 October 2020 of the Government on the application of the Advance Pricing Agreement (“APA”) on tax administration for companies having transactions with their related parties. Other contents of the APA mechanism are implemented in accordance with the provisions of the Law on Tax Administration 38/2019/QH14 (“Law on Tax Administration”) dated 13 June 2019, Decree 132/2020/ND-CP (“Decree 132”) dated 05 November 2020 of the Government on tax administration for companies having transactions with their related parties, and other relevant legal documents.
Resolution 68 introducing some policies to support employees and employers in difficulty due to the COVID-19 pandemic
On 01 July 2021, the Government released Resolution 68/NQ-CP (“Resolution 68”) introducing some policies to support employees and employers in difficulty due to the COVID-19 pandemic.
Tax & legal alert - Circular 43 amending and supplementing Value Added Tax regulations
On 11 June 2021, Ministry of Finance released Circular 43/2021/TT-BTC (“Circular 43”) amending and supplementing Clause 11, Article 10 of Circular 219/2013/TT-BTC on implementation of Value Added Tax (“VAT”) laws (previously amended and supplemented by Circular 26/2015/TT-BTC).
Tax & legal alert - Circular 40 guiding VAT, PIT and Tax administration for business households and individuals
On 01 June 2021, the Ministry of Finance (“MoF”) issued Circular 40/2021/TT-BTC (“Circular 40”) guiding Value Added Tax (“VAT”), Personal Income Tax (“PIT”) and Tax administration for business households and individuals. This Circular officially replaces and abolishes Chapter I and II of Circular 92/2015/TT-BTC (“Circular 92”) guiding the implementation of VAT and PIT applicable to residents doing business.
Tax & legal alert - Decree 57 on CIT incentives for projects manufacturing prioritised supporting industry products
On 04 June 2021, the Government released Decree 57/2021/ND-CP (“Decree 57”), amending Decree 12/2015/ND-CP (“Decree 12”) regarding Corporate Income Tax (“CIT”) incentives for projects manufacturing prioritised supporting industry products (hereinafter referred to as "SI projects").