NEWSLETTER MAY 2024
Value Added Tax (“VAT”) Issuance of invoices for capital contribution activity On 16 May 2024, Da Nang Tax Department issued Official Letter No. 4371/CTDAN-TTHT with following content: In case a company contributes capital by assets (with all invoices and documents as prescribed) to establish a business enterprise, the company does not need to declare and pay VAT. Dossier for assets contributed as capital to the enterprise must include: Minutes of capital contribution, Joint venture contracts/Agreements; Minutes of asset valuation of the Council for capital contribution (or valuation document of an organization with valuation function as prescribed by law), accompanied by...