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
Circular No 10/2020/TT-BLDTBXH date 12/11/2020 of Minister of Labor, War Invalids and Social Affairs stating details and guiding the implementation of a number of articles of the Law on Labor regard to content of labor contract, Collective bargaining council and occupation and job adversely affect reproductive function and child rearing Accordingly, since 01/01/2021, all information
On 29 December 2020, in Hanoi, Vietnam Tax Consultant’s Association (VTCA) held a conference on emulation and commendation and a seminar on Tax Agent Development in the new situation.
On 10 December 2020 Vina Bookkeeping has held the Seminar on Updating new tax policies in 2020 for Japanese clients and FDIs company. We have updated the new policies and cleared up the queries of clients.
Based on current regulations, for seasonal production fixed assets are suspended less than 9 months, would be depreciated and considered as deductible expenses for CIT purpose (Clause 2.2, Article 4, Circular 96/2015/TT-BTC).
It is noteworthy that Decree 51/2010/NĐ-CP and Decree 04/2014/NĐ-CP on paper invoices and e-invoices continue to be effective until the end of June 30, 2022.
Under the new decree, the maximum fine in the tax sector is still 200 millions (for organizations) and 100 millions (for individuals), in the invoices sector is still 100 millions (for organizations) and 50 millions (for individuals).
If the above amounts are specified the conditions and the rate to be entitled in one of the documents: Labour contract, Financial regulations, Collective labour agreement as prescribed at Point b, Clause 2.6 of Article 4 Circular 96/2015 / TT-BTC, these expenses are determined as deductible expenses when determining taxable income of CIT.
Implementation of Decision No. 1040/QĐ-BHXH dated August 18, 2020 issued by Vietnam Social Security on promulgating the form of a report on employees situation and a list of participation in SI, HI, and UI (form D02-LT); Vietnam Social Security provides additional guidance to fill out columns (25), (26), and (27) (form D02-LT) as follows:
