KMC’s periodic newsletter includes updated documents and contents on accounting, tax, human resources, investment and business.
Newsletter - December 2021
- COPORATE INCOME TAX - Policy on invoices and tax obligations for capital transfer activities
- EXPORT TAX - Amending the preferential import and export tax, the list of goods and the rate of absolute tax, mixed tax, import tax out of the tariff quota
- LABOR - Working and resting time for employees doing jobs of seasonal production, processing by orders
Newsletter – November 2021
- CORPORATE INCOME TAX - OL No. 4110/TCT-DNNCN issued by the GDT on 27 October 2021 has guidance that the related COVID-19 expenses paid to employees are non-taxable of PIT and deductible for CIT as long as supported with legitimate invoices and have actually arisen
- VALUE ADDED TAX - OL No. 3393/TCT-CS ("OL 3393") dated 09 September 2021 issued by the GDT guided on VAT refund applications for enterprises after converting into the export processing enterprises ("EPE")
- FOREIGN CONTRACTOR TAX - OL No. 15538/CTBDU-TTHT dated 14 October 2021 guided the tax policy for foreign contractors
- INCENTIVE POLICY FOR SPECIAL INVESTMENT - Decision No. 29/2021/QD-TTg ("Decision 29") dated 06 October 2021 issued by the Prime Minister guided the incentives policy for special investment takes effect from 6 October 2021.
- SOCIAL INSURANCE - Implement the application for the settlement of SI benefits for employees under the treatment of Covid-19.
Newsletter – October 2021
- POLICIES TO SUPPORT ENTERPRISES AND CITIZENS AFFECTED BY THE COVID-19 PANDEMIC - On 19 October 2021, the National Assembly approved Resolution 406/NQ-UBTVQH15 (“Resolution 406”) introducing some policies to support enterprises and citizens affected by the COVID-19 pandemic.
- ACCOUNTING - OL No. 10385/BTC-QLKT date on 10th September 2021 issued by MOF has guidance on recording the expenses incurred due to the impact of Covid-19 pandemic.
- LAW ON TAX ADMINISTRATION - Circular No. 80/2021/TT-BTC dated 29 September 2021 issued by the MOF guidance on implementing some articles of the Law on Tax Administration and Decree No. 126/2020/ND-CP dated 19 October 2020 of the Government.
- E-INVOICES - Circular 78/2021/TT-BTC dated 17 September 2021 issued by the MOF guidance on the implementation of some articles of the Law on Tax Administration and Decree No 123/2020/ND-CP of the Government regulated on invoices and documents.
- IMPORT/EXPORT TAX - Resolution No. 106/NQ-CP dated 11th September 2021 promulgated by the Government to introduce tax policies on goods imported for supporting Covid-19 prevention and control.
Newsletter – September 2021
- VAT policy for occupational safety and health training services - OL No. 32223/CTHN-TTHT dated 23rd August 2021 issued by the Tax Department of Hanoi guidance on VAT policy to occupational safety and health training services.
- Guidance on PIT refund - OL No. 32221/CTHN-TTHT dated 23rd August 2021 issued by the Tax Department of Hanoi guiding PIT refund.
- Exemption of import and export tax when destroying raw materials, exported products, scrap products, machinery and equipment created fixed assets - OL No. 4125/TCHQ-TXNK dated 20th August 2021 issued by the General Department of Customs guided on customs procedures when destroying raw materials, exported products, scrap products, machinery and equipment created fixed assets.
- Circular No. 06/2021/TT-BLDTBXH amending and supplementing the articles of Circular No. 59/2015/TT-BLDTBXH dated 29th December 2015 of the MOLISA - Decree No. 06/2021/ND-CP dated 07th July 2021 issued by the MOLISA to amend and supplement articles of Circular No. 59/2015/TT-BLDTBXH dated 29th December 2015 of the MOLISA which detailing and guiding the implementation of articles of the Law on Social Insurance stipulated on compulsory social insurance.
Newsletter – August 2021
- Policies of tax exemption and reduction for enterprise and citizen who affected by Covid-19 in 2021 - On 5th August 2021, the Government Office issued Notice No. 209/TB-VPCP guidance on policies of tax exemption and reduction for enterprise and citizen who affected by Covid-19 in 2021
- VAT refund for new establishment - OL No. TTHT 24787/CTHN-TTHT dated 5th July 2021 issued by the Tax Department of Hanoi to reply on VAT refund for new establishment.
- Proof of residency - OL No. 27134/CTHN-TTHT date 14th July 2021 replied by Tax Department of Hanoi on the policy of PIT.
- Supplement the subjects exempted from contributing union fees - OL No.2475/TLD dated 10th August 2021 issued by the Vietnam General Confederation of Labour to supplement the subjects exempted from contributing union fees.
Newsletter – July 2021
- Enterprises which having associated transactions with partners - On 29 June 2021, the Tax Department of Hanoi replied to OL No. 23820/CTHN-TTHT regarding the identification of associated transactions.
- VAT for providing service aboard of export processing enterprises - On 25 June 2021, the Hanoi Tax Department replied to OL No. 23122/CTHN-TTHT on the use of invoices and VAT of services provided abroad by EPEs.
- PIT declaration of organizations and individuals that do not arise salary - On 01 July 2021, the GDPT issued OL No. 2393/TCT-DNNCN guiding on the PIT declaration of organizations and individuals that do not generate salary.
- Using electronic invoices (e-invoices) together with invoices purchased from tax authorities - On 09 July 2021, Hanoi Tax Department issued OL No. 26250/CTHN-TTHT guiding on the use of e-invoices.
Newsletter – June 2021
- Supplementation regarding to CIT incentives - Decree No.57/2021/ND-CP dated 04 June 2021 issued by Government
- VAT and PIT of household business - Circular No.40/2021/TT-BTC dated 01 June 2021 issued by MOF on guidance on VAT and PIT of household business
- Amendment on VAT law - Circular No.43/2021/TT-BTC dated 11th June 2021 issued by MOF on amending Circular No.219/2013
- The fee for purchasing houses for foreigner professional is subjected to PIT - OL No.20214/CTHN-TTHT dated 7th June 2021 issued by the Tax Department of Hanoi on tax policies of foreigners using the house of companies.
- Regulation on the salary during suspend time due to COVID 19 epidemic - OL No.420/LĐLĐ-CSPL issued by Labor Confederation of Ho Chi Minh City on 14th June 2021 on guidance to implement the regulation on salary during work suspension due to practicing the measures to prevent COVID 19 epidemic.
Newsletter – May 2021
- VAT rate of legal services - OL No. 15172/CTHN-TTHT dated 11 May 2021 issued by Tax Department of Hanoi guided on VAT policy
- Document for deduction of personal income tax - OL No. 14358/CTHN-TTHT dated 04 May 2021 issued by Tax Department of Hanoi guided on PIT
- Finalization of Foreign Contractor Tax - OL No. 14198/CTHN-TTHT dated 04 May 2021 issued by Tax Department of Hanoi guidance on finalization of FCT
- Time to reconcile revenue which is subject to CIT for goods exported to agents to sell at the right price - OL No. 14207/CTHN-TTHT dated 04 May 2021 issued by Tax Department of Hanoi guidance on CIT policy
Newsletter - April 2021
- VAT on the house rental for foreign experts working in Vietnam - OL No. 7799/CTHN-TTHT dated 17 March 2021 issued by the Hanoi Tax Department guidance on VAT of house rental for foreign experts
- PIT on trade discounts for individuals - OL No. 1130/CTHDU-TTHT dated 04 March 2021 issued by Hai Duong Tax Department guidance on PIT of trade discount for individuals
- CIT on the sponsored for Covid-19's epidemic prevention - Decree No. 44/2021/ND-CP dated 31 March 2021 issued by the Government guiding on the sponsored cost of Covid 19 epidemic prevention.
- Extension of tax and land rental payment in 2021 - Decree No. 52/2021/ND-CP dated 19 April 2021 issued by the Government stupilated the extension of tax and land rental payment in 2021.
Newsletter - March 2021
- Tax policies for expenses from apartment purchasing for foreign employees - On 05 January 2021, Bac Ninh Tax Department issued Official Letter No. 14/CTBNI-TTHT, whereby:
- FCT applied for forwarding and logistics services - On 19 February 2021, Hanoi Tax Department issued Official Letter No. 5335/CTHN-TTHT guiding application of FCWT to forwarding and logistics services.
- Guidance on Law on Investment 2020 implementation - On 31 December 2020, The Ministry of Planning and Investment issued Official Letter No. 8909/BKHĐT-PC on Law on Investment 2020 implementation.
- New Decree on Business Registration - On 04 January 2021, the Government issued Decree No. 01/2021/ND-CP on Business Registration to replace Decree No. 78/2015/ND-CP on the basis of the Law on Enterprise 2020.
Newsletter - February 2021
- Decree 126/2020/ND-CP - Amending regulations on organizations and individuals paying salaries and wages which withhold personal income tax to declare personal income tax on a monthly basis.
- OL No. 104146/CTHN-TTHT - In case enterprises recruited female employees and incurred additional expenses for them, the expenses are considered as reasonable expenses for when determining CIT.
- OL No. 141/CTHN-TTHT - VAT of compensation goods.
- OL No. 271/TCT-TTKT - On introducing new points of the Decree No. 132/2020/ND-CP about tax administration to related-parties transactions of enterprises.
Newsletter – January 2021
- OL No. 5032/TCT-CS - Expenditures on quarantining foreign experts serving prevention and control of Covid-19
- OL No. 5032/TCT-CS - Expenditures on quarantining foreign experts serving prevention and control of Covid-19
- OL No. 8115/TCHQ-TXNK - Treating tax of goods temporarily exported, re-imported
- LABOR - Decree No. 152/2020/ND-CP dated December 30th, 2020 of The Government on foreign workers working in Vietnam and recruitment and management of Vietnamese workers working for foreign employers in Vietnam.
Newsletter – December 2020
- OL No. 5189/TCT-CS - Present the contents of Decree No. 126/2020/ND-CP detailed instruct some articles of the Law on Tax Administration
- OL No. 99060/CTHN-TTHT - Guidance on PIT withholding after the termination of a labor contract
- OL No. 997746/CT-TTHT - Guidance on determining the period of CIT reduction
- Associated transactions - Decree No. 132/2020/ND-CP dated 05 November 2020, the Government promulgates regulations on tax management for enterprises with associated transactions
Newsletter – November 2020
- OL No. 97742/CT-TTHT - Guidance on VAT for non-commercial goods
- OL No. 95846/CT-TTHT - Guidance on PIT of income from capital investment
- OL No. 95835/CT-TTHT - Guidance on CIT declaration
- LAW ON ENTERPRISES 2020 - On 17 June 2020, The National Assembly has granted the Law on Enterprises No. 59/2020/QH14 to replace the Law on Enterprises 2014
Newsletter - October 2020
- OL No. 89924/CT-TTHT - Guidance on salary and other expenses arising by effection of the COVID epidemic
- OL No. 85109/CT-TTHT - Foreign Contractor Tax on transfer of ownership in bonded warehouses
- Decree No. 123/2020/ND-CP -Invoices and documents takes effect from 1 July 2022
- Decree No. 125/2020/ND-CP - The sanction on administrative violations of tax and invoices
Newsletter - August 2020
- OL No. 1930/CT-TTHT - Depreciation expense of the assets that are suspended due to the impact of COVID-19
- OL No. 2099/CT-TTHT - The salary of the foreign employees has not been granted a work permit due to the influence of COVID-19
- OL No. 3275/TCT-DNNCN - Deductions for employee's contributions to the Disaster Prevention Fund
- Instruction No. 05/HD-LĐLĐ - Payment of Trade Union fees for expatriates working in Vietnam
Newsletter - July 2020
- Resolution No. 116/2020/QH14 - Deduct 30% of CIT payable in 2020 for various taxpayers
- Circular No.13/2020/TT-BTTTT - New regulations on determination of software production activities to be eligible for Corporate Income Tax (CIT) incentives.
- OL No.2220/CT-TTHT - Deductible expenses when determine taxable income for CIT and PIT declare related to the expenses for quarantine due to Covid 19
Newsletter - 2nd Quarter 2020
- Resolution No.945/2020/UBTVQH14 - Adjustment on family circumstance deductions for Personal Income Tax calculation
- OL 44403/CT-TTH - PIT on expenses for employees during the Covid 19 outbreak
- Decree No.61/2020/ND-CP - Implementing the provision of unemployment insurance in the Law of Employment
- Decree No.68/2020/ND-CP - Guidance on deductable interest expenses of the Company with associated parties when determining CIT
Newsletter - 1st quarter 2020
- Decree No. 41/2020/ND-CP - Corporate Tax and Value Added Tax remittance extension
- OL No. 1397/CT-TTHT - Electronic Invoices are required to fully show the list of goods
- OL No.96977/CT-TTHT - Further use of self-printed invoices until 31st October 2021
- OL No. 245/TLD - The enterprises affected by COVID-19 pandemic are allowed to postpone the payment of trade union fee