Legal updates

Accordingly, one of the noteworthy points of this Circular is that the borrower must register changes in foreign loans with the State Bank if any contents related to the loan are changed, except for the following cases:
• Change the time of withdrawal and repayment of principal within 10 working days compared to the plan confirmed by the State Bank;
• Change the address of the borrower but not the province or city where the borrower is headquartered;

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).

FCT obligations: In Clause 4, Article 2 of Circular 103/2014/TT-BTC dated August 6, 2014 of the Ministry of Finance stipulates:
“Article 2. Entities not regulated by this Circular

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.

Accordingly, the process of managing registration information using electronic invoices generated from cash registers is detailed as follows:

Step 01: within 15 minutes of receiving the Form 01/DKTD-HDDT (appendix enclosed with this Decision), the electronic portal automatically collates the information on this declaration. Based on the comparison results, the electronic portal automatically generates a notice of receiving/ not receiving declarations/ changing information on using e-invoice (Form No. 01/TB-TNĐT), signing and sending to the tax payer according to the registered email address of the tax payer and through the transmitting and receiving organization.

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,: