Legal updates

In case the Company has its head office in Long An province, has a branch in Binh Dinh province as a dependent accounting business establishment located in another province or city with its head office and income entitled to corporate income tax incentives , then:
1. Regarding the declaration of final settlement of corporate income tax of the branch:
Declare separately for income entitled to corporate income tax incentives of Binh Dinh Branch according to the provisions of Point h, Clause 1, Article 11 of Decree 126/2020/ND-CP dated October 19, 2020 of the Government and Point c2, Clause 3, Article 17 of Circular No. 80/2021/TT-BTC dated September 29, 2021 of the Ministry of Finance.

In case the Company and its Suppliers apply e-invoicing according to the provisions of Decree No. 123/2020 /ND-CP, Circular No. 78/2021 /TT-BTC, the Company purchases goods of the Supplier and incurs economic operations to refund part of the purchased goods of the Supplier, the Company shall make e-invoicing to the Supplier: On the invoice stating the quantity of returned goods, the rate of return tax and the amount of VAT (positive amount).

Accordingly, the Ministry of Finance shall base on the provisions of Point a, Clause 6, Article 10 of Decree No. 123/2020/ND-CP dated October 19, 2020 of the Government on the contents of invoices, instructed:
Particular types of goods and services such as electricity, water, telecommunication services, information technology services, television services, postal and courier services, banking, securities and insurance are sold in certain periods, on the invoice must specify the period of supply goods and services. For periodical export services, a list shall be used to list the goods and services sold with the invoice, and shall ensure:

In case the Company (declaring VAT payment by tax credit method) is an enterprise which is enjoying corporate income tax incentives due to meeting conditions of the locality, incurring costs related to the destruction of unused materials due to changes in production strategies, the Company shall carry out as follows:

In case the Company prepares VAT refund documents for export goods, meet the conditions, procedures and documents stated in Article 19 of Circular No. 219/2013/TT-BTC and Clause 2 of Article 28 of Circular No. 80/2021/TT-BTC of the Ministry of Finance.

From July 1, 2022, electronic invoices shall be applied according to Decree No. 123/2020/ND-CP, electronic sales invoices are invoices for organizations and individuals in the non-tariff zone, organizations and individuals declare and calculate value added tax using the direct method used for activities, including exporting goods and services abroad.

In case the Company has an individual taxpayer who earns income from wages and salaries registered for family deduction for his/her dependents who are his/her uncles, aunts and sisters-in-law, as follows:

Pursuant to the provisions of Point b, Clause 4, Article 7 of Decree No. 126/2020/ND-CP dated October 19, 2020 of the Government:

“Taxpayers who make additional declarations leading to an increase in the amount of tax payable or a decrease in the amount of tax already reimbursed by the state budget must pay fully the increased amount of tax payable or the amount of tax already reimbursed in excess and late payment to the state budget (if any).

In case the Company (being a EPE) carrying out processing of goods, repairing molds for domestic enterprises,:

Accordingly, the Ministry of Finance instructed on invoices for on-spot export and import procedures for domestic enterprises that declare and pay VAT with VAT tax credit method for export – processing enterprises (EPE) and enterprises in the non-tariff area (including export goods processing enterprises ) as follows: