Legal updates

Official letter No 2532/TCT-DNNCN dated July 12th 2021 of General Tax Department regarding to PIT policy In cased the company has submitted 2020 PIT finalization declaration but identify mistake, the company shall declare the 2020 PIT finalization declaration with actual amount, as well as declare supplement PIT finalization procedure, must amend corresponding wrong monthly/quarterly PIT

Official letter No 2410/TCT/DNL dated July 2nd 2021 issued by General Tax Department guidance on promotional presents invoice The official letter was sent to Ba Ria Vung Tau Tax Dept. and Agribank ( “The Bank”) by General Tax Department, Whereby, in cased the Bank carries out the promotion campaign registered to authority department comply with

Circular stated about financial disclosure (receipts and expenditures ) of Vietnam Covid-19 vaccine fund

The official letter quoted General Tax Department guidance as official letter No 4721/TCT-DNL dated October 13th 2017 to response to the similar case:

Official letter No. 2568/CT-TTHT dated April 13th 2021 issued by Binh Duong Tax Department regard to FCT calculation rate exchange In cased the company has purchased goods, service transactions with foreign contractor, agreement and payment by USD At the actually payment point, the company equivalent into VND by using sells rate exchange of commercial Bank

Circular guiding electronic transactions in the tax sector aims to detail a number of articles of the Law on Tax Administration No. 38 relating to dossiers and procedures for electronic transactions in the tax sector from the stage of registration: tax; Tax; taxpayer; certify information on tax liability fulfillment; clearing taxes and fines; tax refund; tax exemptions; to freeze, write off tax debt … etc

The tax authority asserted that the temporary payment of corporate income tax in 3 quarters must reach at least 75% for the whole year according to Decree 126 is just a misunderstanding.

GDT has just sent the express dispatch No. 636 / TCT-DNNCN dated 12/03/2021 to the Tax Departments of the provinces and cities to guide the finalization of personal income tax in 2020. Accordingly, the remarkable point of family deduction in year 2020 is as follows:

Regulation on annual leave of employee according to Law on Labor 2019 and Decree 145/2020/ND-CP elaboration of some articles of the Law on Labor 2019 Annual leave a) Any employee who has been working for an employer for 12 months is entitled to fully-paid annual leave, which is stipulated in his/her employment contract as follows:

Official letter so 03/BHXH-QLT dated 04/01/2021 of Social Security Office of Ho Chi Minh City regard to foreign currency rate exchange for first 6 months of 2021 This rate exchange will be applied from 04/01/2021 to the end of first 6 months of 2021 This rate exchange was determined by average interbank rate exchange released