Publications

USING E-INVOICES IS NOT A MUST FROM NOVEMBER 1, 2020

This is the highlight of the Decree No. 123/2020/ND-CP on invoices and evidencing documents, in force on July 1, 2022. In particular, Clause 2 and 4 of Article 35 in the Decree No. 119/2018/ND-CP, setting forth the following regulations on e-invoices, must be repealed: “2. The implementation of e-invoices and e-invoices with tax authorities’ identification […]

TIME LIMIT FOR APPRAISING CONSTRUCTION WORKS OF SPECIAL GRADE IS 45 DAYS MAXIMUM

On September 18, 2020, the Government promulgates Decree No. 113/2020/ND-CP on detailing Point dd, Clause 3, Article 3 of the Law Amending and Supplementing a Number of Articles of the Law on Construction regarding appraisal of construction designs to be implemented after basic designs and exemption from construction permits. Accordingly, the time limit for appraisal […]

GUIDANCE ON REDUCTION 30% OF ENTERPRISE INCOME TAX PAYABLE IN 2020

On September 25, 2020, the Government issues Decree No. 114/2020/ND-CP on detailing the implementation of the National Assembly’s Resolution No. 116/2020/QH14 on reduction of enterprise income tax payable in 2020 for enterprises, cooperatives, non-business units, and other organizations. Specifically, to reduce 30% of enterprise income tax amount payable in the enterprise income tax period of […]

CASES WHERE AN ENTERPRISE CONSIDERED AS HAVING TRANSACTIONS WITH RELATED PARTIES

The Government issues Decree No. 132/2020/ND-CP on prescribing tax administration of enterprises having transactions with related parties on November 05, 2020. In addition to 10 cases specified in current regulations, there is one case where an enterprise is considered as having transactions with related parties. To be specific: 1. Transactions to transfer or receive the […]

09 ALLOCATION PRINCIPLES OF PUBLIC INVESTMENT USING STATE BUDGET

On July 08, 2020, the Standing Committee of the National Assembly promulgates the Resolution No. 973/2020/UBTVQH14 regulating the principles, criteria and norms of allocating public investment using state budget for the period 2021-2025. In accordance with this Resolution, general principles of allocating public investment using state budget as follows: To comply with the Law on […]

New cases of using illegal invoice and documents

Decree No. 126/2020/ND-CP dated October 19th, 2020 of the Government guiding on Law on Tax Administration 2019 added cases of using illegal invoice and document specified as below: Invoices are stopped using during the enforcement period by stopping using invoices discipline, except if they are allowed to use according to the notices of the tax […]

VAT on medical equipment out of the Nomenclature

VCN – The General Department of Customs has answered B.Braun Vietnam Company Limited’s questions related to VAT on medical equipment out of  the Nomenclature described in Circular No. 30/2015/TT-BYT and Circular 14/2018/TT-BYT According to the General Department of Customs, Clause 8, Article 1 of Circular 26/2015/TT-BTC dated February 27, 2015 of the Ministry of Finance […]

New regulations on import-export tax

VCN- The Government has recently issued Decree 122/2016/ ND-CP regulating preferential import and export tax; the list of goods, the absolute tax rate, the mixed tax, and import tax instead of quota. Accordingly, the new tariff will have many changes in the rate of import tax and export tax of specific commodities. There are 4 […]

Customs proposes Ministry of Science and Technology to remove problems on the import of used machinery and equipment

VCN- Decision 18/2019/QD-TTg stipulating the import of used machinery, equipment and technological lineshas taken effect, but Customs authorities and enterprises have faced problems during itsimplementation Specifically, Clause 3, Article 4 of Decision 18/2019/QD-TTg stipulates “only used machinery, equipment and technological lines for production of enterprises in Vietnam are allowed to be imported.” Thus, areVietnamese enterprises allowed […]