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Legal updates

We regularly update legal documents on accounting, tax, labor and other related fields for our clients.

Official Dispatch No. 1872/BTC-TCT dated February 17, 2025, of the Ministry of Finance on VAT policy for goods transferred from the domestic to bonded warehouses

In cases where a domestic enterprise sells goods to a foreign trader with a presence in Vietnam and is designated to deliver the goods to a third party, which is a Vietnamese enterprise, through a bonded warehouse, such transactions do not meet the conditions for export sales to organizations and individuals abroad or for consumption outside Vietnam. Additionally, goods sold to organizations and individuals in non-tariff zones and consumed within these zones do not qualify as exported goods eligible for the 0% VAT rate under Clause 1, Article 9 of Circular No. 219/2013/TT-BTC.

For detailed information, please refer to the attached file.

Related News

26 Tháng 02, 2025
Official Letter No. 585/TCT-CS dated 13/02/2025 from the General Department of Taxation regarding the issuance of invoices at the incorrect time

In cases where a company issues an invoice at the incorrect time as stipulated in Clause 2, Article 9 of Decree No. 123/2020/NĐ-CP but does not fall under the cases specified in Clause 9, Article 3 of Decree No. 123/2020/NĐ-CP (regarding the use of illegal invoices and documents, and the unlawful use of invoices and documents), and the invoice fully complies with the form and content requirements of Decree No. 123/2020/NĐ-CP, it will be considered a valid invoice.

25 Tháng 02, 2025
Official Letter No. 655/TCT-CS dated February 14, 2025, of the General Department of Taxation regarding deductible depreciation expenses of fixed assets in determining corporate income tax obligations

The General Department of Taxation agrees with the proposal of the Hanoi Tax Department: In cases where fixed assets lack documentation proving the enterprise’s ownership (i.e., the enterprise has not been issued a Land Use Rights Certificate or a Certificate of Ownership for assets attached to the land) as required by law, such assets do not meet the conditions for depreciation deduction as an expense when determining taxable corporate income.

11 Tháng 02, 2025
Official Letter No. 471/TCT-KK dated February 5, 2025, from the General Department of Taxation regarding the Supplementary Declaration of VAT Returns

In the case where a taxpayer submits a supplementary declaration for the VAT return for the tax period of June 2023 on August 10, 2023, and the supplementary declaration only results in an increase in the deductible VAT amount for the tax period of June 2023, the taxpayer shall report this adjustment under item [38] “Adjustment to Increase Deductible Value-Added Tax from Previous Periods” on the initial VAT return for the tax period of July 2023. This is in compliance with the regulations, as it falls within the filing deadline for the VAT return of the July 2023 tax period.

11 Tháng 02, 2025
Official Letter No. 302/TCT-CS dated January 17, 2025, issued by the General Department of Taxation, providing guidance on foreign contractor tax (FCT) policy for DDU and DAP delivery terms

In cases where a goods supply contract is signed between a Vietnamese entity and a foreign contractor under DDU or DAP delivery terms, where the seller is responsible for transporting the goods to the delivery location designated by the buyer, and the contract does not include any services provided in Vietnam (such as installation, trial run, warranty, maintenance, etc., including cases where these services are provided free of charge), the contract is subject only to value-added tax (VAT) on goods at the importation stage and a corporate income tax (CIT) rate of 1% on taxable revenue. 

24 Tháng 01, 2025
Monthly newsletter in December 2024

VINA BOOKKEEPING would like to send readers the MONTHLY NEWSLETTER IN DECEMBER 2024 (VIETNAMESE AND ENGLISH) Details of attachments are here

13 Tháng 01, 2025
Official Letter No. 99/TCT-CS dated January 8, 2025, of the General Department of Taxation providing guidance on payment documents for VAT refunds

The General Department of Taxation provides guidance as follows: In cases where the Tax Department has issued VAT refunds for exported goods and services without non-cash payment documents, the Tax Department must recover the refunded VAT amounts that lack non-cash payment documents in accordance with the provisions of the VAT Law and tax administration regulations.

23 Tháng 12, 2024
Official Dispatch No. 6019/TCT-CS dated December 17, 2024, of the General Department of Taxation, Guidance on the issuance of invoices and declaration of VAT for collection and payment on behalf of others

Principles: In cases where a business establishment incurs amounts collected and paid on behalf of others, which are not related to the sale of goods or provision of services by the business establishment, the establishment is not required to declare or pay tax as per applicable regulations.

 

According to the Company’s explanation: In cases where suppliers issue VAT invoices indicating the Company’s name and tax identification number, and the Company subsequently requests the Partner to reimburse these amounts, the Company must issue a VAT invoice to the Partner, applying the VAT rate as stipulated by law. The Company is responsible for declaring input and output VAT in accordance with the applicable laws on tax management.

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