KMC’s Newsletter – March 2024 updated contents on accounting, tax, human resources, investment and business as follows:

  1. The CIT incentive by Decree No. 218/2013/ND-CP applies to investment projects established prior to 2014 but have not yet commenced operation so or generated revenue – OL No. 116/TCT-CS dated 10 January 2024 issued by the GDT. 
  2. The Import duty and Environmental protection tax arrears are considered deductible expense when determined CIT- OL No. 5824/TCT-CS date 20 December 2023 issued by GDT.
  3. The branches that declared and remitted CIT independently and were lent without interest or with interest below market rate are subject to tax imposition – OL No. 3782/TCT-CS dated 25 August 2023 issued by the GDT.
  4. PIT calculation in Vietnam when expatriates contribute to compulsory insurance overseas – OL No. 6002/TCT-DNNCN dated 29 December 2023 issued by the GDT.
  5. OL No. 5435/TCT-CS dated 4 December 2023 issued by the GDT stipulated the VAT policy.
  6. FCT and VAT refund for expansion investment projects – OL No. 505/CTLAN-TTHT dated 31 January 2024 issued by the Tax Department of Long An Province.
  7. Replacement e–invoice should be issued when liquidating or terminating the implementation of a real estate transfer contract – OL No. 25/CTVPH-TTHT dated 4 January 2024 issued by the Tax Department of Vinh Phuc Province.

This 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.

KMC_Newsletter_March 2024 (EN version)