Legal updates

Accordingly, the General Department of Taxation guides, in cases where taxpayers register for family deductions for dependents who are grandchildren (who still have parents who are of working age and still have the ability to work and take care) are not eligible for family deductions according to the provisions of Point d, Clause 1, Article 19 of Circular No. 111/2013/TT-BTC of the Ministry of Finance.

Pursuant to the provisions of Point 1.3, Clause 1, Article 69 of Circular 200/2014/TT-BTC (amended by Clause 3, Article 1 of Circular 53/2016/TT-BTC), for the purpose of recording accounting books, preparing and When presenting financial statements, businesses need to determine whether or not the contract value includes tax in the case of foreign tax payment, to determine the appropriate accounting exchange rate:

Accordingly, in case the seller receives returned goods in part or in full, he or she will issue a reduced or replacement invoice for the issued invoice according to the provisions of Clause 1, Article 4 and Point b, Clause 2, Article 19 Decree No. 123/2020/ND-CP dated October 19, 2020 of the Government.

Accordingly, in case the Company lends machinery and equipment to suppliers to produce products as well as use goods and services (including purchased from outside or self-produced by business establishments) to give, donate, donate or exchange, the Company must make invoices, declare and calculate VAT payment as goods sales invoices to customers.

In case an enterprise other than an organization operating under the Law on Credit Institutions has irregular lending activities if it lends to another organization (including a branch of an enterprise to which this branch pays separate corporate income tax) without interest or at an interest rate lower than the normal interest rate of the same term and size in the market, it shall fall into the case of tax assessment in accordance with the law on tax administration.

In case the Company meets the conditions for providing containerized logistics services as prescribed in Decree No. 163/2017/ND-CP dated December 30,2017 of the Government, the service is subject to VAT reduction as prescribed in Decree No. 44/2023/ND-CP dated June 30, 2023 of the Government.

In case the Company authorizes an individual who is an employee of the Company to pay for the purchase of fixed assets used for the Company’s production and business activities with a value of twenty (20) million VND or more (price includes VAT ) to the seller by paying that individual’s credit card to the seller’s account, The Company pays the individual through a transfer from the Tax Authority’s registered Company account to the individual’s account. The company can declare and deduct input VAT and have it included in deductible expenses when calculating corporate income tax, if it simultaneously satisfies:

To improve problems arising from the practices of businesses and tax authorities in the process of using electronic invoices, the Ministry of Finance submitted to the Government a draft Decree amending and supplementing Decree 123/2020/ND -CP regulates invoices and documents.

Accordingly, some notable contents of the Draft are as follows:

Accordingly, the General Department of Taxation guides:
In case Company A (in Vietnam) signs a contract with Company B (in Hong Kong) to provide sample testing services for goods before being imported to Vietnam, this testing service is subject to subject to contractor tax in Vietnam.

Accordingly, suspend the implementation of Clause 8, Clause 9 and Clause 10, Article 8 of Circular No. 39/2016/TT-NHNN dated December 30, 2016 (added according to Clause 2, Article 1 of Circular No. 06/2023/TT-NHNN dated June 28, 2023 on amending and supplementing a number of articles of Circular No. 39/2016/TT-NHNN) from September 1, 2023 until the effective date of the new legal documents regulating these issues.

The content whose effect is suspended is specifically as follows: