Vietnam employs a unified set of accounting and bookkeeping standards known as Vietnamese Accounting Standards (VAS). Understanding regulations related to accounting and bookkeeping are important cost considerations for investors. Investors should prepare for the future as Vietnam looks to implement IFRS – the most common accounting language globally – by 2025. For companies choosing to […]
Tax Alert Jul 2019 has been updated many new regulations, details are as follows: · Official Letter No.2355/TCT-DNNCN dated 10 June 2019 of the General Department of Taxation on the obligation to deduct PIT of the Company when paying in case hiring business individuals as employees; · Official Letter No.47391/CT-TTHT dated 19 June 2019 of Hanoi City Tax […]
Tax Alert Jun 2019 has been updated many new regulations Details are as follows: · Increasing based salary to VND 1,490,000/month from 01 July, 2019; · Official Letter No.2425/TCT-CS dated 14 June, 2019 of the General Department of Taxation guiding the sale of security assets for loan; · Official Letter No.21839/CT-TTHT dated 18 April, 2019 of Hanoi City Tax Department […]
Tax Alert May 2019 has been updated many new regulations. Details are as follows: · Official Letter No.1763/TCT-KK (“OL 1763”) dated 4th May, 2019 of the General Department of Taxation about dossiers of invalidation of tax code · Official Letter No.1385/TCT-CS (“OL 1385”) dated 16th April, 2019 of the General Department of Taxation guiding VAT policy · Official Letter No.1381/TCT-DNL (“OL 1381”) […]
CUSTOMS Decision No.18/2019/QĐ-TTg (“Decision 18”) dated 19thApril, 2019 of The Prime Minister regulating the import of used machinery, equipment and technological lines Official Letter No. 2190/TCHQ-TXNK (“OL 2190”) dated 16th April, 2019 of the General Department of Customs resolving problems in the management of customs valuation VALUE ADDED TAX Circular No. 18/2019/TT-BTC (“Circular 18”) dated […]
ENTERPRISES Decree No.13/2019/ND-CP (“Decree 13”) dated 1st February, 2019 of the Government on science and technology enterprises SPECIAL CONSUMPTION TAX Decree No.14/2019/ND-CP (“Decree 14”) dated 1st February, 2019 of the Government amending and supplementing Decree No.108/2015/ND-CP (“Decree 108”) dated 28th October, 2015 of the Government on Special Consumption Tax (“SCT”) VALUE ADDED TAX Official letter […]
Changing region-based minimum wages On November 16th ,2018, the Government promulgated DecreeNo.157/2018/ND-CP stipulation region minimum wages applied to employees working under labour contracts, which replaced DecreeNo.141/2017/ND-CP dated December 7th, 2017. Download spotlight here: In English: Spotlight Jan 2019 In Vietnamese: Spotlight Jan 2019
Tax Alert January 2019 has been updated many new regulations by local Tax authority. Details are as follows: Circular No.03/2019/TT-BCT (“Circular 03”) dated 22nd January 2019 of the Ministry of Industry and Trade regulating rules of origin of goods in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Official letter No.4807/TCT-DNNVV&HKD,CN (“OL 4807”) dated 3rd […]
SOCIAL INSURANCE Decree No.143/2018/ND-CP (“Decree 143”) dated October 15th , 2018 of the Government VALUE-ADDED TAX Official letter No.12247/BTC-CST (“OL 12247”) dated October 5th , 2018 of the Ministry of Finance Official letter No.4657/TCT-DNL (“OL 4657”) dated November 23rd , 2018 of the General Department of Taxation INVOICE Official letter No.4311/TCT-CS (“OL 4311”) dated November […]