Category: Legal Update

Taxation accompanies start-up enterprises

VCN – Facing with the target of 1 million efficient enterprises by 2020 as required by the Prime Minister, together with the efforts of all levels and departments, the General Department of Taxation is implementing many comprehensive solutions to support the start-up enterprises The General Department of Taxation has developed the program “Accompany start-up enterprises” […]

Propose to reduce a series of fees and charges

VCN- Implementing Decree 75/ND-CP on monthly Government’s meeting in Jun 2017, the Ministry of Finance has presented 5 draft Circulars on the reduction of fees and charge to remove difficulties for businesses and send to ministries and ministerial-level agencies, VCCI and People’s committees of provinces and cities under central authority for consultation. First of all, […]

Amending Law on PIT: Reducing burden for employees

VCN – In the Bill amending and supplementing 5 Laws on tax drafted by the Ministry of Finance to be submitted to the Government to submit to the National Assembly Standing Committee to include into the law making program 2018. Proposals on personal income tax (PIT) have been towards employees, especially PIT incentives for some […]

Vietnam Customs continues to support enterprises

 Vietnam Customs has just issued Decision 2917/QD-TCHQ on the action plan of General Department of Customs for the implementation of Prime Minister’s Directive 26/CT-TTg dated June 6, 2017, on continuing to effectively deploy the Resolution No. 35/NQ-CP in 2017 and vision for 2020. Decision 2917/QD-TCHQ takes effect from August 28, 2017, and replaces Decision 1907/QD-TCHQ […]

Why are 5 laws on tax required to be amended at the same time?

VCN – This is the first time that the Ministry of Finance has finalized a Bill amending and supplementing 5 laws on tax including Law on VAT, Law on special consumption tax (SCT), Law on corporate income tax CIT), Law on personal income tax (PIT) and Law on severance tax  (ST) to submit to the […]

Many preferential policies attract investment in special economic zones

VCN – The Draft Law on special administrative units sent to the Government, the Ministry of Planning and Investment (MPI) proposes many preferential policies on land and taxes to enhance the ability to attract investment capital, especially from foreign-invested capital into 3 special administrative – economic units  Van Don (Quang Ninh province), North Van Phong […]

Ministry of Finance to cut taxes for all small and medium-sized firms

The Ministry of Finance suggested reducing corporate income tax for small and medium-sized firms which make up of 98 percent of total local firms. During the revision of Law on Corporate Income Tax, the Ministry of Finance has proposed to reduce the tax to be in more accordance with the newly-issued Law on Support for […]

Expand scope of electronic invoice application

VCN – in 2010, the Government issued Decree No. 51/2010/ND-CP stipulating invoices for sales of goods and services. In 2014, this Decree was amended and supplemented by Decree 04/2014/ND-CP. Two decrees have changed the method of invoice management, contributed to risk management and matched with international practices. However, due to changes from the actual situation, […]