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NEWSLETTER JUNE 2023

2023-07-27
Newsletter

Value-added Tax (“VAT”) Receiving donations to perform advertising services for the donors On 14 June 2023, Hanoi Tax Office issued Official Letter No. 41474/CTHN-TTHT detailing tax policy when one receives donations as follows: In case a party receives donations to perform services for the donors, such as advertisement service, the donation recipient must declare and pay VAT and CIT according to Clause 1, Article 5 of Circular No. 219/2013/TT-BTC, and Article 5 of Circular No. 78/2014/TT-BTC.   No penalty for not submitting invoice usage report from 1 July 2022 for taxpayers who have registered to use E-invoices   On 9...

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Handling of personal information (Decree 13)

2023-07-13
Newsletter

We, HSK Vietnam Audit Company Limited (“HSKV”), would like to make an Announcement regarding our handling of personal data in light of Decree No. 13/2023/ND-CP (“Decree 13”) on personal data protection issued by the Government on 17 April 2023. For personal data registered for receiving our Newsletter, HSKV complies with Decree 13 and other related regulations. In case you do not want HSKV to keep your personal data to send Newsletter or you do not want to receive our Newsletter, please inform us at info@hskv.com.vn

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NEWSLETTER MAY 2023

2023-06-29
Newsletter

Tax Policy Value added tax (VAT) refund processing On 31 May 2023, the General Department of Taxation issued Decision No. 679/QD-TCT on VAT refund process; details are as follows: When a taxpayer submits an online tax refund application via the Portal of the General Department of Taxation (or other Portals), the application shall be processed as follows: Step 1: Application receipt The Portal of the General Department of Taxation automatically reviews the documents declared by the taxpayer on the Portal before receiving the application. Step 2: Issuance of Application receipt notice The Portal of the General Department of Taxation automatically...

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NEWSLETTER APRIL 2023

2023-05-29
Newsletter

Tax policy On 24 April 2023, the General Department of Taxation issued Official Letter No. 1482/TCT-KK and Official Letter No. 1483/TCT-KK on implementation of tax collection using tax payable identifier (ID). Details are as follows: Issuance and notification of payable ID code to taxpayers a) Issuing an ID for each amount payable of a taxpayer that has been recorded in the centralized Tax management systems (TMS), asset/real estate registration fee management applications, according to Section I of Appendix 1 of Official Letter No. 1483. b) Sending a notification of the IDs to the taxpayer. Sharing the tax payable IDs with...

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NEWSLETTER MARCH 2023

2023-04-26
Newsletter

Tax management Decree 12/2023/ND-CP extending the 2023 deadline for value added tax, corporate income tax, personal income tax and land-use rent payments On 14 April 2023, the Government issued Decree No. 12/2023/ND-CP on extending 2023 deadline for value added tax, corporate income tax, personal income tax and land-use rent payments; details are as follows: Value added tax (VAT) (excluding import VAT): Extending the tax payment deadline for VAT payable (including VAT allocated to provincial-level regions other than where the taxpayer is headquartered and occasional VAT) of tax period from March to August 2023 (in case of monthly VAT declaration), or...

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NEWSLETTER FEBRUARY 2023

2023-03-30
Newsletter

Tax management Value Added Tax (“VAT”) and Corporate Income Tax (“CIT”) incentives for computer programming activities On 1 March 2023, Hanoi Tax Office issued Official Letter No. 8441/CTHN-TTHT guiding VAT and CIT incentives for computer programming activities: Regarding VAT: In case a company manufactures software and provide software services in accordance with the law of Vietnam, revenues from such activities are not subject to VAT, according to Clause 21, Article 4, Circular No. 219/2013/TT-BTC of the Ministry of Finance. Regarding CIT: In case the company implements a new project that satisfies the conditions of new investment projects set forth in...

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NEWSLETTER JANUARY 2023

2023-02-27
Newsletter

Tax management Family dependent registration procedure from 1 January 2023 Decision No. 40/QD-BTC dated 13 January 2023 by the Ministry of Finance announces revised/supplemented administrative procedures, with instructions on two (02) procedures to be amended from 1 January 2023 according to Circular No. 79/2022/TT-BTC, of which, notably, is the procedure for dependent registration: For individuals paying Personal Income Tax (PIT) through an income-paying organization: Submit two (02) sets of dependent registration dossiers to the income-paying organization before a tax period’s declaration deadline (or before the organization submits its yearly finalization PIT returns). The income- paying organization shall retain 01 set...

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NEWSLETTER DECEMBER 2022

2023-01-19
Newsletter

Tax management Revision of misstated VAT returns when declaring adjustment/replacement VAT invoice On 16 December 2022, Hanoi Tax Office issued Official Letter No. 62542/CTHN-TTHT on declaration for adjustment/replacement invoice as follows: In case an enterprise issued adjustment/replacement invoice as prescribed in Clause 2, Article 19 of Decree No. 123/2020/ND-CP dated 19 October 2020, that results in the necessary revision of VAT returns which had been submitted to the tax authority, the enterprise shall revise each misstated VAT returns as prescribed in Article 47 of the Law on Tax Administration No. 38/2019/QH14 dated 13 June 2019 by the National Assembly and...

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NEWSLETTER NOVEMBER 2022

2022-12-29
Newsletter

Corporate Income Tax (“CIT”) Exemption from Master File preparation in case the related parties do not belong to one’s multinational Group On 30 November 2022, Hanoi Tax Office issued Official Letter No. 59003/CTHN-TTHT regarding preparation of Master file. Details are as follows: According to Clause 4, Article 18 of Decree No. 132/2020/ND-CP, the arm’s length price (of related transactions) determination dossier includes a global profile detailing information on the business activities of the multinational group, policies/methods of profit distribution, determination of transaction prices within the Group (the “Master file”). However, in case the related parties do not belong to one’s...

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