Monthly newsletter in September 2021
Updating legal documents on accounting, tax, labor, and other related fields for customers in September 2021
Legal updates
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Official Dispatch No.1586/TCT-CS dated May 4, 2023 of the General Department of Taxation guiding that e-invoices have an invoice signing date different from the invoice date
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.
Official Dispatch No. 1014/CTHPH-TTHT dated March 17, 2023 of Hai Phong City Tax Department guides Corporate Income Tax policies for invoices and documents in foreign languages
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.
Official Dispatch No. 940/TCT-CS dated March 27, 2023 of the General Department of Taxation guiding the implementation of the CIT reduction policy according to Decree 92/2021/ND-CP
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.
Official Dispatch No. 796/TCT-CS dated March 20, 2023 of the General Department of Taxation guiding the Corporate Income Tax policy for damaged and defective products in the production process
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.
Official Dispatch No. 43/DKKD-GS dated March 21, 2023 of the Business Registration Management Department amending the update of citizen identification information with chips of the legal representative
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.
Official Dispatch No. 67/CST-GTGT dated April 7, 2023 of the Tax Policy Department to the General Department of Taxation and the General Department of Customs on proposing a VAT reduction plan in 2023
Accordingly, in order to stimulate consumption demand, recovery and economic development, if the case of 2% reduction for goods and services is subject to the tax rate of 10% (remaining 8%) according to the following options:
Option 1: Reduce the VAT rate by 2% for the group of goods and services subject to the tax rate of 10% (down to 8%).
VINA BOOKKEEPING was honored to receive the Certificate of Merit from VTCA in 2022
On April 21, 2023 in Hanoi, the Vietnam Tax Advisory Association (VTCA) held its 4th Congress and celebrated its 15th anniversary.
Official Dispatch No. 447/TCT-DNL dated February 16, 2023 of the General Department of Taxation guiding the deductible expenses when calculating corporate income tax for VAT paid by the method of deduction of goods for gifts and donations
Accordingly, the General Department of Taxation instructs that in case the Company has goods and services used for promotion, advertising, donation, internal consumption, the value-added tax paid under the deduction method is not deductible expense when determining taxable income.
Official Dispatch No. 4643/CTHN-TTHT dated February 10, 2023 of the City Tax Department. Hanoi guides foreign contractor tax policy
In case Google – an overseas supplier has registered, filed and paid taxes directly in Vietnam according to the provisions of Article 76, Article 77, Article 78, Article 79 of Circular No. 80/2021/TT-BTC, the Company is not obliged to declare, deduct, and pay taxes on behalf of the overseas supplier as prescribed in Circular No. 103/2014/TT-BTC dated August 6, 2014 of the Ministry of Finance.
Official Dispatch No. 4423/CTHN-TTHT dated February 9, 2023 of the City Tax Department. Hanoi provides guidance on VAT obligations when implementing projects in foreign countries
In case the provision of services takes place both in Vietnam and outside Vietnam but the service contract is signed between two taxpayers in Vietnam or has a permanent establishment in Vietnam, the 0% tax rate only applies to the value of services performed outside Vietnam as prescribed in Clause 1, Article 9 of Circular No. 219/2013/TT-BTC dated December 31, 2013 of the Ministry of Finance.
Official Dispatch No. 137/CTHPH-TTHT dated January 13, 2023 of the City Tax Department. Hai Phong guides on personal income tax policy on registration of dependant deduction.
Accordingly, in case the Company registers family deduction for employees who is mother, have no income at out of working age or have an average monthly income of the year from all income sources not exceeding 01 (one) million dong , the documents proving dependents shall comply with the guidance in item g.3 point g, Clause 1, Article 9 of Circular No. 111/2013/TT-BTC dated August 15, 2013 of the Ministry of Finance (as amended and supplemented in Article 1 of Circular No. 79/2022/TT-BTC dated December 30, 2022 of the Ministry of Finance),
Circular 13/2023/TT-BTC dated February 28, 2023 of the Ministry of Finance guiding the implementation of Decree No. 49/2022/ND-CP dated July 29, 2022 of the Government
Article 1. Amending and supplementing a number of articles of Circular No. 219/2013/TT-BTC dated December 31, 2013 of the Ministry of Finance (as amended and supplemented in Circular No. 26/2015/TT-BTC dated February 27, 2015, Circular No. 130/2016/TT-BTC dated August 12, 2016 of the Ministry of Finance) as follows:
1. Clause 10 Article 7 shall be amended as follows: “10. Regarding real estate transfer activities, the VAT taxable price shall be determined in the provision of Clause 1, Article 1 of Decree No. 49/2022/ND-CP dated July 29, 2022 of the Government.”
2. Clause 13 Article 7 shall be amended as follows: “13. Taxable prices for electricity production activities by the Vietnam Electricity (EVN) shall comply with provision of Clause 1 Article 1 of Government’s Decree No. 49/2022/ND-CP dated July 29, 2022.”