Official Letter No. 3711/TCT-CS dated September 08th, 2020 issued by General Department of Taxation about Guidance on issuing invoices for providing services. According to the regulations, issuing date for providing service is the date of completion of the service regardless whether the money has been collected or not.
Official Letter No. 79916/CT-THTT dated August 31st, 2020 issued by Hanoi City Tax Department about Guidance on declaring FCT for foreign business individuals.
Official Letter No. 2717/CT-THTT dated September 11th, 2020 issued by Bac Ninh Tax Department about Guidance on incentives of corporate income tax and depreciation cost of fixed assets.
In case the company dismantles the server system that is being used to transfer to Thailand for an another company in the same group. The company makes a non-commercial export declaration for customs clearance and does not receive payment from overseas.
According to the regulations, issuing date for providing service is the date of completion of the service regardless whether the money has been collected or not. In case goods are delivered several times or a completed item or stage is transferred at a time, an invoice shall be issued for each time.
In case the Company incurs expenses of online advertising on Facebook or Google, the expenses could be considered as deductible expenses for CIT purpose if it meeting the following conditions:
According to current regulations, in case of an export processing enterprise (EPE) buys goods from the domestic market, the current regulation just allowed using foreign currencies for the transaction of buying input raw materials, input supplies, input accessories, etc. serving directly in the producing, processing, recycling or assembling of exporting goods or exporting.
From November 01st 2018 to October 31st 2020, while the tax authority has not announced on converting to use e-invoices according to Decree No. 119/2018/ND-CP and Circular No. 68/2019/TT-BTC, the enterprise still complies with Decree No. 51/2010/ND-CP, Decree No. 04/2014/ND-CP, Circular No. 39/2014/TT-BTC and Circular No. 32/2011/TT-BTC.
According to this Official letter, the Company has total revenue less than VND 200 billion in 2020 (including revenue from financial activities and other revenues) is eligible for reduction of CIT payable in 2020 according to Resolution No.116/2020/QH14.
According to this Official letter, in case investment project X is granted the first investment registration certificated by the Management Board of Hanoi Industrial and Export Processing Zones on November 12, 2019 with the project implementation period is 5 years from the granting dated of the certificate, the investment project is located in the industrial park, and not located in a socio-economic locality with favorable conditions
This Official Letter guidelines on the accounting for “goodwill” in case the Company acquires a business segment of another enterprise.
According to guidance from Ha Noi City Tax Department, the expatriate who is assigned from the parents company (Japan) to the Company (subsidiary in Vietnam) to work as labor of the Company, the Company bears PIT obligation arising from worldwide income of the foreigner which will be considered as deductible expense when determine CIT taxable income if following conditions are satisfied:
