KMC’s Newsletter – December 2024 updated contents on accounting, tax, human resources, investment and business as follows:
| 1 | OL No. 4864/TCT-KK dated 28 October 2024 issued by the GDT regulates the allocation of CIT for construction activities |
| 2 | OL No. 4781/TCT-CS dated 24 October 2024 issued by the GDT regarding the depreciation expenses of fixed assets formed on leased land without a construction permit |
| 3 | OL No. 4588/CTLAN-TTHT dated 17 October 2024 issued by the Long An Provincial Tax Department guiding on land rental expenses during the investment phase of the project |
| 4 | OL No. 4777/CTBNI-TTHT dated 5 November 2024 issued by the Bac Ninh Provincial Tax Department provides instructions for declaring and paying CIT on activities of transferring real estate conducted outside the province |
| 5 | OL No. 8005/CTBGI-TTHT dated 20 November 2024 issued by the Bac Giang Provincial Tax Department guides on CIT incentives for projects of manufacturing supporting industrial products |
| 6 | OL No. 27325/CTBDU-TTHT dated 16 October 2024 issued by Binh Duong Provincial Tax Department regarding PIT on income from wages for foreigners working in Vietnam |
| 7 | OL No. 4816/TCT-DNNCN dated 25 October 2024 issued by the GDT guidance on the application of the Double Taxation Avoidance Agreement between Vietnam and the United Kingdom (“Agreement”) for income from securities inheritance |
| 8 | OL No. 4917/TCT-DNNCN dated 30 October 2024 issued by the GDT regarding PIT for individuals are subject to direct finalize PIT |
| 9 | OL No. 28333/CTBDU-TTHT dated 31 October 2024 issued by Binh Duong Provincial Tax Department guiding PIT for individuals not registered for business |
| 10 | OL No. 4909/TCT-CS dated 30 October 2024 issued by the GDT stipulates on FCT on sale of receivables to foreign companies |
| 11 | OL No. 5025/TCT-KK dated 6 November 2024 issued by the GDT guidance on the VAT refund process for exported goods |
| 12 | OL No. 4566/TCT-KK dated 14 October 2024 issued by the GDT regulates VAT refund conditions for export production projects |
| 13 | OL No. 4784/TCT-CS dated 24 October 2024 issued by the GDT stipulating VAT on services provided by individuals operated real estate brokerage business |
| 14 | On 26 November 2024, at the 8th Session Program, with the majority of National Assembly deputies voting in favour, the National Assembly officially passed the Law on VAT 2024 |
| 15 | Officially reduce 2% VAT for the first 6 months of 2025 |
| 16 | Amending and supplementing the Law on Health Insurance 2024 No. 51/2024/QH15 |
| 17 | On the report on occupational accidents and occupational safety and health in 2024 |
KMC’s Newsletter aims to update and summarize the general provisions related to Taxation, Accounting, Investment and Labor in Vietnam. You should seek professional advice before making a decision.
Download the text: KMC_Newsletter_December 2024 (EN version)
