Legal updates

Accordingly, the General Department of Taxation guides:

(i)In case goods and services are eligible for VAT reduction according to Decree 15/2022/ND-CP, after December 31, 2022, if errors are detected must issue an adjustment or replacement invoice and they do not affect the amount of goods and payable VAT or adjustment of the taxable price, the adjusted or replaced invoice shall apply the VAT rate of 8%; Where errors in quantity of goods lead to adjust the amount of goods and VAT, the adjusted or replaced invoice shall apply the VAT rate prescribed at the time of making the adjusted or replaced invoice.

Accordingly, the General Department of Taxation guides:

(i)In case goods and services are eligible for VAT reduction according to Decree 15/2022/ND-CP, after December 31, 2022, if errors are detected must issue an adjustment or replacement invoice and they do not affect the amount of goods and payable VAT or adjustment of the taxable price, the adjusted or replaced invoice shall apply the VAT rate of 8%; Where errors in quantity of goods lead to adjust the amount of goods and VAT, the adjusted or replaced invoice shall apply the VAT rate prescribed at the time of making the adjusted or replaced invoice.

Accordingly, the National Assembly Standing Committee agreed on the scope of application of the VAT reduction policy as stipulated in Resolution No. 43/2022/QH15 dated January 11, 2022 of the National Assembly on fiscal and monetary policies. support the program of socio-economic recovery and development.

Accordingly, in order to implement Article 4 of Decree No. 145/2020/ND-CP of the Ho Chi Minh Department of Labour, War Invalids and Social Affairs guiding the implementation of the report on the use of labor, as follows:

1.Subjects of the report: Enterprises, agencies and organizations that employ employees and have their headquarters and operating locations in Ho Chi Minh City (hereinafter referred to as units).

From July 1, 2023, the basic salary applied to state officials and public employees will be increased from 1,490,000 to 1,800,000 VND/month.

Accordingly, the ceiling for payment of social insurance and health insurance (equal to 20 times the basic monthly salary) will increase from 29,800,000 to 36,000,000 VND/month.

According to the General Department of Taxation, if the electronic invoice for sale of goods or provision of services has a time to sign on the invoice other than the time of invoice making, if the time of signing on the invoice arises at the same time or after the time of invoice making, the prepared electronic invoice is still determined to be a valid invoice.

Accordingly, the Tax Department guides the case that the Company in Vietnam signs a warehouse lease contract with another company in the US, the cost of renting the warehouse is included in the deductible cost when determining the corporate income taxable income if it meets the conditions specified in Article 4 of Circular No. 96/2015/TT-BTC.

Accordingly, in case an enterprise is subject to the application of Decree 92/2021/ND-CP and completes the conversion of the financial reporting period from 01/01-31/12to the reporting period from 01/10-30/09, the tax amount shall be reduced according to Decree 92/2021/ND-CP applicable to the corporate income tax period from 01/01/2021 – 30/09/2021.

Pursuant to the provisions of Clause 1, Article 3 of Decree No. 126/2020/ND-CP and Article 4 of Circular No. 96/2015/TT-BTC regulating deductible and non-deductible expenses when determining taxable income.

The Department of Business Registration Management receives feedback from a number of business registration agencies and enterprises on the receipt of the notice of the tax authority requesting: no later than March 31, 2023, the enterprise must complete the procedure to update the citizen’s identity card with a chip for the legal representative on the enterprise registration certificate; past the above time limit, the enterprise will be sanctioned for administrative violations.