NEWSLETTER JANUARY 2021
Tax administration On 26th January 2021, Bac Ninh Tax Department issued Official Letter No. 110/CTBNI-TTHT guiding VAT, PIT returns, and invoice report. According to the OL, companies having a total revenue in the preceding year (i.e. 2020) more than VND 50 billion shall declare VAT and PIT monthly. Such companies shall submit invoice report and PIT receipt quarterly. In case they are high tax risk entities, they must submit the reports monthly. PIT on commission Official Letter No. 164/CTBNI-TTHT issued by Bac Ninh Tax Department dated 3rd February 2021 handles a specific case in which a company hires a foreigner...